The Challenges a Real Estate Agent Faces When Working With Sellers
As a real estate agent, you soon come to realize that working with sellers can bring some challenges. First, you want to determine why they’re selling:
• Downsizing (either change of life circumstances or money troubles)
• Moving up (ready to invest in a larger and/or more expensive home)
Any one of these circumstances can be stressful. With real estate sellers you typically have less excitement than buyers, especially if the reason for selling is a negative one. You also typically have more of the worries exuding from your client. Worries about whether the sales price will be enough. Whether the house will sell in time. Whether the house will show well to real estate buyers.
That’s not to say working with sellers isn’t fun or exciting – it can be! It just usually brings a new set of challenges to the table. And it’s up to you to be completely forthright and make sure your client embraces reality. The reality surrounding the current real estate market, the current value of the home, what needs to be done in order to make the home show well and so on.
Seller’s home value – Many sellers have skewed ideas of what their home is worth. It’s up to you, in the most gentle, but professional manner possible, to set them straight. Do your homework first. You can’t expect to hold a prospect’s hand and tell them something they don’t want to hear without serious back-up. And that back-up will be in the form of numbers. Make it look pretty if you can. But make it clear. Show them what other homes in the neighborhood have sold for recently. Show them what else is on the market and the price and for how long. You don’t want to scare them away. But you don’t want to let them walk down the wrong path with blinders on. reach150
Current real estate market – Your seller probably has already read about the local real estate market. But has she gotten the full story? The media tends to portray things in a negative slant for some reason and your seller may not be fully informed on the true nature of the market. Perhaps her home is actually in an area that is not as stagnant as others. You don’t want to skew the facts or present anything other than the truth, but you may be surprised to find out that your average seller isn’t as on top of the local real estate market as she might purport herself to be. And that’s why you’re the agent to work with, because you bring the expert current knowledge to the table!
Condition of the home – It doesn’t do you any favors when trying to market a home if your seller doesn’t do his part to get his home prepared for potential buyers. If you see weeds in the front yard, point out that they need to be removed. See too many knick-knacks cluttering the living room? Speak up! Many sellers have no idea how their home appears to a person visiting for the first time. Be as diplomatic as possible, but also be firm. You need to make sure that your client understands the importance of being an active participant in the salesmanship of the home.
In the end, you’re the expert and you have to take the lead. Back up what you say with current numbers and materials that indicate you are truly knowledgeable and the right agent for the seller to work with. And don’t let any seller push you around or refuse to accept reality. The sooner your real estate client is on-board, the sooner you can get the home listed and sold!