The Internet and the ability to access information on a variety of topics have made some jobs obsolete. But even though buyers are more educated in today’s housing market because of a slew of online sources, a real estate agent can’t be taken entirely out of the process. And never should be.
There’s no substitute for feet-on-the-ground knowledge, and that’s what only a good agent can provide. He or she knows the ins and outs of the community regarding home values, trends, schools, recreation, ordinances and employment opportunities. Some of the information consumers glean from certain websites is incomplete, and therefore inaccurate. It’s up to you to set them straight. But don’t disregard the research they’ve done. Embrace it, because it shows they’re savvy and committed to buying.
There was a time when great service in real estate simply meant understanding a client’s lifestyle and telling them what they didn’t know. Providing them with information on homes for sale, pricing and mortgage rates was all agents needed to do because such information wasn’t easily available to the public.
But that’s all changed. This doesn’t mean, however, that everything will become automated and real estate agents will evaporate into thin air. But their role is going to evolve, and agents who don’t acknowledge or embrace the changes will disappear of their own doing.
Contracts, inspections, financing and negotiation are only a few of the steps in the transaction process. Buyers can’t possibly handle these items on their own. Successful buyer’s agents know to ask questions and adjust to the circumstances. Tell the client you’d be happy to go through the paperwork step by step to make it easier for them to understand. More questions are bound to arise, but your familiarity with the process and forms will put your client at ease and likely lead to a consultation appointment. There’s no need for a hard-sell, statistic-driven approach if handled correctly.
“We see ourselves more in a consulting role rather than a hard-sales role,” said Kevin Bergin, a successful HouseHunt agent who works in Long Beach Township, N.J., with business partner Kevin Farnung. “Answering questions and providing regional information are the keys. Pointing them in the right direction and helping them make good decisions is what it’s all about.”
When at the consultation appointment, educate buyers by making sure they understand the type of financing they’re trying to get. Do they have any questions about it? Even if you don’t have the answers, you can take the lead getting a clarification and making sure buyers are aware of what’s included in their closing costs and their payments, among other things. You also should reveal problems that could arise and how you’ve solved them and protected buyers’ interests in the past.
As you conduct these presentations, you’ll likely discover how much buyers don’t know — even the educated ones — and how much they misunderstand. Walking them through the ever-changing laws and financing situations, such as explaining short sales and foreclosure procedures, are just a few reasons that the time you spend preparing buyers works to everyone’s benefit.
“A good system will and does work,” Bergin said. “You just have to stick with it.”
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