Setting Better Buyer Expectations

November 12, 2018

“There’s a difference between knowing the path and walking the path.”

Morpheus The Matrix

Leadership in the Process

Like it or not, when you became a Realtor, you became a leader of sorts.  Someone is going to hire you to lead them down a path that they will probably only go through a few times in their life:  the process of buying a home.   Today’s post is about leading your current or potential buyer’s through that process.  I want to give you some help in managing proper expectations.  This is going to probably cover some ground that you didn’t talk much about in Real Estate School.

What I’m going to teach you today will help you manage your time better, set better expectations for your buyer’s up front, and hopefully help you take leadership of the process.

4 Practices to help you set buyer expectations

  1. Begin with a “Sit-down” meeting.  When  you first meet with a buyer, you probably don’t know much about them.  The first time you meet with someone, invite them to your office or meet them in a neutral location like a coffee shop or someplace public.  Then gather information.  This week’s freebie will be a form for getting to know your buyer. Follow the link here to get your copy!    It’s best to take time to get to know the people you are trying to help.  Proper Expectations can be best set when you have some information from your buyer that is detailed and specific enough to help them out.
  2. Describe the process. People need a roadmap not an offload of information.  The last thing you want to do is “throw up” on your client by just telling them all kinds of useless information.  Have a process.  Break down the process for your client so they can have a step by step understanding of
    • 1) How you’ll begin.
    • 2) What to expect.
    • 3) How you’ll work for them.
    • 4)What they need to be doing.
    • 5) How long it will take.
    • 6) Different “milestones” or achievement points along the way.
    • 7) Getting to everyone’s goal of “CLOSING”.
  3. Narrow Their Focus. You are likely going to have a client that wants to look at every house out there to decide what kind of house they want or like.  By asking the right questions, laying out the process before them, explaining to them the work you do, and showing them what is actually out there that fits their parameters, you can narrow their focus down to a handful of homes rather than a whole mess of them.  You don’t have the time to run them all over creation to look at homes in different areas all around your city.  Don’t sacrifice good business practice just because you are desperate for a client.  Lead.  Guide.  Narrow it down.  And take your client on a journey.  You can still give them the freedom to look at what they want.  You just have to be discerning and direct with them.
  4. Be Patient. Keep in mind that your client is hiring you because they think you can lead them through one of the most difficult and expensive decisions of their life.  You are a Leader and a Navigator.  You’ve got to set proper expectations from the gitgo or you will be led around by someone who is fickle and indecisive.   There is nothing wrong with someone being fickle and indecisive… that’s just where a lot of people are.  They don’t know what they don’t know.  It’s your job to help them gain knowledge and discernment by helping them narrow their focus.   Be patient with them.  You will do this multiple times in a year.  Your client will likely only do this a handful of times in their life.  They need you lead with kindness and patience.

Professionalism

You are the expert.  Act like it.  Treat people the way you would want to be treated.  Recognize that this is a big decision for your client.  They need you to take control of the process because you know what you are doing and they, likely, don’t know what you know.  You are going to have to be emotionally steady, relationally focused, process-conscious, and professionally behaved.

Guide your client into their new home with a professional demeanor.  You will set yourself apart in this industry by making the process smooth and seamless for your client.

 

 

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