Unrealistic expectations can lead to disappointed and unsatisfied clients. However, you can take steps to avoid going down that path.
With the dynamic real estate market, Job Hammond, associate broker at Dash Realty, Austin, and adjunct professor of real estate at Austin Community College, says, “Communication and trust are essential components of managing expectations with clients.”
Determine ahead of time if your clients’ thoughts are in line with the current market. Learning about their previous real estate experience and what they hope to spend or receive for their home is a way to gauge how much you may need to readjust their expectations.
One way to eliminate obstacles is to be honest and clear in the beginning. When it’s a strong seller’s market, Hammond tells his clients, “There is no longer a dream house; the dream is getting a house.” When it comes to his sellers, he advises that the offers that are received represent the definition of the market price.
If your client’s want list is not realistic, be ready with other achievable options. For example, Hammond knows that many sellers will not want to show or close during the holidays, so he encourages his buyers to view vacant houses.
The more your clients know and understand, the happier they will be, making your job easier.