Knowledge To Feed The Real Estate Brain - Where will your wings take you?
Client Communications

Client Communications, 20 tips to do it right.

What does it mean to be a good communicator?

While being a good communicator with clients is something that many claim to be, it is sad how often that poor communications can sour a transaction. Even when you are doing all the actions that you need to be doing to help the transaction move forward, if you leave out your client or other brokers it is as if you are doing nothing.

So….what is a “Good Communicator?”

  1. Returning each call as quickly as the situation dictates but certainly by the end of each business day.
  2. During an initial contact, returning a call with in minutes, not hours.
  3. Acknowledging receipt of a communication.
  4. Understanding that e-mail is the lowest form of communication and that face to face is the highest.
  5. If something changes let others know.
  6. If someone is waiting on something it is ok to call to let them know you have not received anything yet.
  7. When you can’t do something you promised let the other person know as soon as possible.
  8. Manage expectations through good communications.
  9. Look down the road to anticipate challenges and let your client know what you are thinking.
  10. For long term relationships intermix the different types of communication; text, e-mail, typed letter, hand written note, phone call, in person.
  11. Let the form of communication match the message. Don’t try to negotiate a contract via e-mail…..this type of communication is best done face to face.
  12. Keep in mind who your audience is and who they might share it with… are the professional, keep your white coat on at all times.
  13. Change your voice mail greeting regularly to set callers expectations.
  14. Use auto responders like your voice mail greeting,… set expectations.
  15. If you have an in-depth conversation face to face or on the phone, use e-mail to confirm and document the discussion and agreements made.
  16. When it comes to a real estate contracts “EVERYTHING must be in writing”
  1. Call each person in the transaction every week; escrow officer, lender, other broker then your client.
  2. Meet face to face with your seller every 30 days to update your CMA and the results of marketing to date.
  3. When you are interacting with your client do not throw the other broker under the bus. Since you are the only one who speaks with your client if they have a bad opinion of the other broker it is because of what you have told them.
  4. Remember that in the vacuum of no information the human tendency is to make up bad news….…….So don’t allow a vacuum to form.

The Struggle of Selling Brokers in Todays Real Estate Market

Selling brokers in today’s market are working 5 times harder than listing brokers. Each buyer they are working with has fewer homes to choose from and if they do find a home that they would like to make an offer on chances are they will be competing with other home buyers. So, unfortunately, more often than not, the selling brokers are just as frustrated as the buyers they are trying to help……and it does not look like there is any relief in sight.

8 Tips to help prepare buyers for todays market realities:

  1. Be selective of which buyers you invest your time with.
  2. Meet with each prospective buyer and do a buyer presentation, so they have a better idea what they are in for, the realities of todays sellers market and you understand their needs, limitations and motivations. Some buyers are saying they don’t want to be in a competing situation….this may not be reasonable in todays market.
  3. Ask the buyers to complete homework BEFORE you start showing them houses.
  4. Buyer has to be pre-underwritten with a local lender.
  5. Buyer must interview and choose a home inspector before looking at houses.
  6. Buyer needs to be prepared to put at least 3 to 5% down in earnest money.
  7. Buyer needs to be prepared to move quickly on any homes that come on the market.
  8. Thoroughly discuss multiple offer situations, escalation clauses, offer and counter offer scenarios.

Our goal as real estate professionals is to set our buyers up for success. Put them in a position to win while having a move forward strategy if they don’t.

The real estate market in Kitsap County continues to be in a pressure cooker for buyers. There are 23% fewer houses on the market than last year, prices are up 11% and climbing, interest rates are edging north and we have more King County people looking west as they get fed up with higher prices, time killing traffic and now have fast foot ferry service to 3 ports on this side of the water.

The moral of the story, be selective about who you work with as buyers and focus on working with sellers.

Getting to The Next Level

Today I asked the question, what does it mean to get to the next level? It started some great conversation among the new and experienced agents!

. . .

“The threshold between just getting into the business and doing real estate because it comes your way to now saying wait a minute I want to do real estate on purpose.”