When working with clients, it will always be a fine line to balance their expectations with what you can reasonably give them.
One industry where this can sometimes be a huge issue is in real estate. Oftentimes, people who are looking for a home might not have the right expectations for their budget, timeline, or availability. So when this happens, it’s important that you know what to do to help them get back to reality.
To help you do this, here are three tips for getting your real estate client to reel in their expectations.
Have Them Come To The Table WIth Finances Already Figured Out
According to Cailtin Schneider, a contributor to MentalFloss.com, a good way to help your clients come to the table with the right expectations for what they’ll get out of a home when working with you is to already have their finances figured out.
Not only will this make it easier for you both to look at homes that they can actually afford, but a lot of the expectation adjusting will already have been done for them but their lender. This allows you to not be seen as the “bad guy” who’s unwilling to show them a home they would love but wouldn’t be able to afford. Additionally, many sellers won’t take an offer seriously unless the buyer is already pre-approved for their loan, so this will make the whole process easier on everyone, too.
Educate Them About The Housing Market In Your Area
Once your client knows how much they can afford to spend on a home, it’s now up to you to help them find the best possible home within their budget.
To help you with this, Eman Hamed, a contributor to Mashvisor.com, is to spend time educating your clients about the housing market in your area. For most real estate agents, education is always a big part of the job as they create marketing materials for clients in their area and seek to build their network. But when you’re educating people you’re actively working with, you’ll need to primarily focus on the quality of homes that will fall within the budget they’re working with.
Discuss The Reality Of Their Situation
Even after your clients have a set budget and you’ve talked extensively about what homes fall into their budget, you may still find that your clients are wanting you to work some kind of magic to get them more than they can really afford. In a situation like this, Peter Kozodoy, a contributor to Small Business Trends, recommends that you always stay transparent with your clients about the reality of their situation and what wiggle-room they can reasonably expect.
If you have a hard time helping your real estate clients keep their expectations in check, consider using the tips mentioned above to assist you with this.
