There are many blind spots when buying a home, which is why, as real estate agents, it is our duty to keep our clients well-informed.
Information is key not only to make sure that we leave them happy and satisfied at the end of the day but also to gain their trust. Why? Because trust is the building block that ensures our business’s success.
Trust depicts a healthy relationship. Also, it is a competitive advantage because it is valuable and rarely given. The moment a client distrusts you, the chances of you succeeding diminish dramatically.
So what is the key information that you need to share to gain your home buyer’s trust?
Establish Home Buyer’s Expectations
It is natural that clients expect more money for their hard-earned investments, which causes them to think that their home is worth more than its market value. It is, however, our duty to set their expectations. There are property evaluators who can assist you with this. While their reports and recommendations are optional, it does give the client a deeper understanding as to what the property is worth to potential buyers. Property evaluators will assess the value of the home through details like the condition of the dwelling, the size of the land, the physical condition of the home, etc.
It should be made clear from the start how much commission you are getting. It is a standard that agents get a 6% commission. But, if there is a third-party seller involve, clients must be aware that the 6% commission should be split into two, and clients should not be giving another 6%.
If your client is still expecting a higher return on their investment, offer the option of going to auction. This way more buyers can set the ceiling high with multiple bids and can potentially meet the value that your client has for their home.
Current and Future Home Needs
Make sure that the client is aware of the current physical condition of the home and what they need to prepare for in the future. For instance, if the buyer is a starting family, having two bedrooms is okay, but you can show them the potential of renovations to consider in the future should they need the extra space.
Ask the client if they are considering taking their new home as an investment. If so, make sure they understand the return on investments in the area. This could mean that the longer they stay, the more value they can acquire out of the property. But, if they are staying just for a couple of years, they must be aware that little value might be returned to them.
If you make a promise to your client, make sure you keep it. Never promise anything that you cannot deliver on, but make sure that you are prepared to do whatever it takes to meet your clients’ needs.
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