We’re not hear bashing agents, just as an FYI if that’s why you’re reading. But we’ve spent weeks, no MONTHS, discussing the various items sellers and buyers should be doing. But in truth, that’s only half of the equation. Because as a Realtor, we are heavily involved in the process ourselves and clients rely upon us for various services. Otherwise, why are we even here! It’s time to step up!
Instead we challenge you to look at this as an opportunity!!!
Look at this as an opportunity to step your game and represent. Because in this market, your job just became A LOT more about EDUCATION. Gone are the days of a for sale sign being put up and a week or two later you’re done and onto the next. Now your knowledge and business practices are what sets you apart.
This process starts off by taking some damned accountability. Your client wants to list $100,000 over the market value, YOU as the agent are responsible for EDUCATING them on where the market is and WHY that is not a good decision. That discussion can range from an extremely proud and argumentative seller, all the way to the nicest and respective senior citizen. But regardless, it needs to happen and it is you who must make it happen. Now of course, if you do so and they still want to proceed their route, then you have the call to make of accepting that or walking away, but at least you’ve had the discussion.
This conversation may even then need to be repeated if you’re in the fortunate position to get an offer. If you’re overpriced and you get a market value offer, you are doing a disservice by not explaining this to your client. They don’t have to accept of course, but it’s only FAIR to them that you give them the chance to know this is a fair offer and why. After all you’re the professional and that is your job. What happens in other industries if you don’t do your job …… exactly.
This applies to the Buyers agents out their too. The opportunity for you is to step up with knowledge. There is so much to choose from on the market right now and your clients are trusting in you to find them the best property. What’s best for them? Has this building been completely renovated? The sales prices in this one are at all time lows? Why does that property fit their particular needs more than this one? These are all items you should ALWAYS be considering for your clients, even more so now than ever with so much out there.
It’s then important once you have selected a property to offer on, that you do the appropriate research. What are the sold comparables? What makes this property different and therefore the offering needs to change? Just coming in with a random number because the market is lower is hurting your clients chances. That’s an easy way to get a sellers/agents back up and make negotiations 10x harder. You should be preparing an offer with justified breakdowns as to the WHY. It’s a tough market for sellers, that’s not your clients problem but working WITH the seller and their agent is going to result in a far better outcome for your client.
Realistically we are all professionals and need to be providing that service as a minimum to our clients. From your standpoint, you should be thinking about taking care of people now, especially in this market, so that when things heat up again, it’s YOU who they (and all their friends) call to do business.
ACCOUNTABILITY. LET”S DO IT!!!!