Although guiding homebuyers through a competitive market is a challenge, it's important to encourage them to be patient and trust the process. Here are a few ways to prepare your clients and help them stay ahead of the game.
Markets across the country are experiencing extremely high activity with a record-low inventory. When a seller’s market is this hot, it can make it very daunting for clients to purchase a home.
As a real estate professional, it is essential to instill confidence in clients as you guide them through the process. In today’s conditions, clients need to learn about listings as soon as they hit the market.
What’s more, agents need to make sure their client’s offer stands out — all while remaining calm and collected. Below are three ways to raise buyers’ confidence through today’s extreme marketing conditions.
1. Educate your client
First and foremost, being informed is the key to confidence. Real estate is highly local, so it is crucial to make sure your clients understand what’s happening in the market they seek to invest in.
From the very start, provide a full download of the markets you serve. Be sure to share a history of the region, what might make it so desirable, and explain recent trends or movements over the past decade. Painting a complete picture will educate your client and help them make more informed decisions as they narrow their search.
Because each market is different, a strategy that works in one may not work in another. An agent’s extensive market knowledge will prove valuable and ensure your clients maintain their confidence as they navigate this competitive environment.
2. Dedicate time
Be sure your clients have the time to dedicate to staying up to date with the ever-changing market. As homes sell faster than ever and with multiple offers, your clients need to be available to attend showings and be prepared with their finances as soon as a home lists.
Help your clients stay positive and confident by ensuring they can move quickly when a new property comes on the market that’s in their price range and the area they are seeking. If they wait until the weekend to view a home, it could already be sold in today’s market conditions.
The best way to feel calm and in control is by helping your clients stay ahead of the game and keep them as up-to-date as possible.
3. Be nimble
In addition to ensuring your client has financing preapproval, make sure your clients are also prepared with representation so they can close quickly and deliver on promises.
Ensuring clients have the best industry professionals at their disposal will keep them feeling positive, especially during the emotional process of purchasing a home. When it comes time to make an offer, make sure your clients are ready to make any quick decisions should there be any counters, other offers, and more.
Although guiding a client through a competitive market is a challenge, it’s crucial to encourage them to be patient and trust the process. As a real estate agent, you can best serve clients by guiding them through every step of the process so they feel comfortable and confident when it comes time to make an offer.
By Santiago Arana