Ultimate Beginners Guide How To Set Clear Expectations

Dated: 07/17/2018

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Ultimate Beginner's Guide: How To Set Clear Expectations


    If you are a beginner in the real estate business, a principle to establish early on is to: set clear expectations with your client or buyer. When you're working with a buyer you want to make sure that they know exactly what to expect when working with you. The video below will change the way you do business. It explains the clear expectations you would be looking to set and how to go about doing that. 


 

Clear Expectation #1: Be upfront

    So the first way to set a clear expectation with your buyer is going to be to let them know what's going to happen throughout the process of the transaction. A lot of times if I work with a buyer, I'm going to let them know. Especially, right now being that we're in a very hot market. And the fact that it is a sellers market, there are more buyers out there in there is inventory. Chances are we're going to submit multiple offers on different properties before you actually get an offer accepted. That way, when they don't get the first deal or the second deal they don't think you're a horrible realtor and you're not doing your job. They're actually going to say, "You know what? Our agent told us what would happen and hopefully get it on the third shot".

Clear Expectation #2: Acknowledge Listing Sites 

     Another way to set a clear expectation is to explain to your buyer that you know they're are a lot of homes available on the market Image titlethat you are only going to show them the properties that you sent them directly from the MLS. Now a lot of times, the buyer becomes very eager and is doing their own shopping online. So when they're on Zillow, or Trulia, or Realtor.com they're going to start to say, "Hey Agent. We just found this property online. Would you show us this property as well." What happens is, you have to go and pull the property up and you determine, " You know what? This is a short sale. You said you didn't want to look at short sales" or "you know what, this one is actually pending and the information online is actually outdated." A lot of times when you are working with a buyer, just make sure you can convey to them that "Hey guys, I'm sending you properties directly from the MLS. This is the most current and up to date information. If you find anything that's online, chances are its out of your budget, its not available or it just doesn't fit in your search criteria.

Clear Expectation #3: Buyer Brokerage Agreement

     The third clear expectation, you'd like to provide your buyer is going to be not to go into a home without contacting you first. So, its always a good idea to have a buyer sign a buyer brokerage agreement. That way, they are bound to you and you to them, and you don't have to worry about them running off to another realtor or open-house or to a home builder without you being the one presenting them. A buyer brokerage agreement will establish that repor between you and the client, that mutual understanding that they are only going to want to work with you exclusively and if they don't, they'll end up having to pay you a commission.


If your a beginning agent looking for guidance on these and other concerns, the posts below will help you on your journey to becoming more successful in your new career. 




Popular Related Posts:

Reasons to Move to Orlando: www.preferredrebrokers.com/blog/10+Reasons+To+Move+To+Orlando

Being a Realtor vs Investor: www.preferredrebrokers.com/blog/The+Fine+Line+Of+Being+A+Realtor+And+An+Investor

Working with a Realtor:www.preferredrebrokers.com/blog/7+Reason+To+Work+With+A+Realtor


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