Real estate professionals are all about solving problems for a profit. If you think about it, that’s at the core of every transaction, whether it’s with a lending institution, buyer or seller — real estate professionals understand markets, needs, wants and how best to merge all of those into a stellar client relationship.
Coltyn Simmons
But reacting to common problems within the real estate industry is something any agent can do — it’s preemptively addressing common industry problems and challenges that really puts you over the top compared to your competition.
The agents, like Coltyn Simmons of Custom Fit Real Estate, who are figuring out how to solve today’s problems are the ones killing it — and if that’s where you want to be, the industry has no shortage of problems real estate agents can tackle to not only deliver superb client experiences, but also ensure theirs is the name dropped the next time someone is looking to sell or buy a home.
Combat client emotions
While real estate professionals may often look at the process of buying or selling a home as a transactional, data-driven enterprise, for the people on both sides of the deal, the process can be an incredibly emotional one.
Clients often come to the table with nervousness, uncertainty, excitement, stress and sadness — emotions that, while valid, can make it difficult to move forward with a transaction.
“Selling or buying a home can be an emotional time for many people, and real estate professionals are the ones who get hit with those emotions in full force,” Simmons said, “Doing anything you can to give buyers or sellers the peace of mind they need to navigate this process with a clear head is going to catapult you ahead of your competitors. That human element is what gets you results.”
Getting ahead of client emotions requires a lot of forethought, and it’s something that many real estate professionals forget to consider. Fear not, because there are absolutely some key initiatives you can do to make homeselling less painful for clients.
However, as you begin working with each new client, remember their emotional state may play into their decision-making, and keep that in mind — without being condescending or belittling — as you speak with them.
From home pricing and lending to timelines and signings, there’s a lot that goes into the process, and your clients need to know you have their backs even when tensions are running high.
Get ahead of market conditions
While you can’t control the local market, you don’t have to make yourself a victim of it either. Controlling how you address the local market situation with your clients plays a huge role in whether a home sells or not. It also sets you up with the perfect opportunity to provide insights and information to your clients that will ultimately make a big difference in the outcome.
This requires a lot of research on your end — research that may feel dull and boring at times but is nevertheless vital to ensuring you always have all the information you need in your back pocket.
Even if it’s only half an hour a day, checking in on the local markets and ensuring you’re aware of if they’re more viable for buyers or sellers will be a game-changer for you and your clients.
Aside from the necessary research, there are a few platforms which can definitely upgrade your real estate game as well, like agent networking, digital assistants and productivity apps.
Protect yourself from outside disruptors
As a whole, real estate agents have failed to protect themselves from outside disruptors. While real estate professionals used to find and use leads and close deals without those kinds of interferences, there’s now a massive influx of companies looking to get into the industry and sell those same leads back to real estate professionals — for a hefty referral fee, of course.
“Standing out in a market like this can be hard, but focusing on the value you can and should be providing to clients is essential to positioning yourself against the arbitrage,” Simmons said. “I set my brokerage apart by being the only brokerage in my hyperlocal area that has a licensed general contractor, so we can update client’s homes to ensure they sell for the most money. If you have something like this in your back pocket that can set you apart from the crowd, there’s never been a better time to bring it out.”
As tempting as it can be to sit back on your laurels, shrug your shoulders, and say, “Oh, what can you do?” to the common challenges most real estate professionals face, now is the time to bring solutions to the table, not problems.
By proactively anticipating client emotions, working with the market instead of against it and protecting yourself from disruptors through innovation and service, you’ll not only set yourself apart from the competition, but ensure your career is full of successes and smiling clients.
Victoria Kennedy is CEO of Atman Real Estate. Connect with her via email.
