To Become That Stand-Out Agent
Crazy business, isn’t it? You studied, got your license, paid all those fees, found a broker, and GOT TO WORK.
If you were lucky, once onboard, your broker had some sort of training program for new agents. Most, however, teach a few rudimentary tasks and send agents on their way.
What is universally lacking is training on how to work with clients – especially buyers. In many cases, this leads to a less than stellar experience for home buyers.
Want to become a stand-out with your buyer clients? Here are three things you absolutely must share, that many agents won’t.
Closing costs
Have you ever wondered why there is so much focus on educating buyers about the down payment while details about closing costs are rarely mentioned? I have a theory about that.
Buying a home is expensive. That’s a given. Telling a client who is on a budget that they’ll need thousands of dollars in cash to put down on a home almost feels like we’re scaring them off.
Once past the down payment hurdle, who wants to say “Oh, yeah, by the way, you’ll need about that much more in cash for closing costs?” It’s much easier to let the lender take the hit for that one, right?
But we owe our clients much more than this. There is nothing worse than meeting with the lender and learning you’ll need twice as much cash as your agent told you that you’d need.
So, vague references to closing costs don’t cut it. Be the agent that helps change the perception of the industry by being upfront and honest about all aspects of the transaction – especially financial aspects.
Give them more information about the loan process
First-time buyers have a tendency to think that loan preapproval is an iron-clad guarantee that they’ll get the loan. It’s the lender’s job to tell them otherwise but how many do so?
Since you, as the agent, have a vested interest in the buyer’s successful closing, don’t assume the buyer’s lender is going to do this.
What is especially important for your buyers to understand is that their loan can fall apart right up until the moment the loan is funded.
Quitting a job, moving money, buying anything on credit, applying for new credit can doom the entire purchase.
Treat the final walkthrough seriously
I once had a friend who bought a house and used a well-known local agent. It was her first home so she relied heavily on the agent’s experience.
During the final walkthrough, my friend allowed her agent to take the lead and, it’s a good thing because all of the appliances which were to remain with the home were gone. Refrigerator, washer, dryer – all missing.
Since the walk-through was scheduled the day before closing, the closing had to be postponed while the seller replaced the appliances.
After my friend moved in she found that the garbage disposer was also missing, plants were removed from the landscaping and several other fixtures were gone. At that point, it was too late to remedy the situation and she was forced to replace everything out of her own pocket.
The agent fell down on her duty to her client.
Make a walk-through checklist of every aspect of a home and use it during the final walkthrough. Counsel your client to move slowly and inspect everything.
PLUS: When you have time…below are some additional tools to support your success.
1. The Free 12 Month Done-For-You Strategic Marketing Plan
The Real Estate Marketing Planner is a powerful 12-Month-Guide that strategically defines what marketing to do when. Four key market segments are included, niche Markets, geographic farming, sphere of influence, and past clients. – Click Here
2. The BusinessBase, SOI building system
The most effective thing you can do to build a real estate business is to become more visible, more likable, and remembered more often. The BusinessBASE™ not only checks all of these boxes, but it is a business building machine. In two easy steps, you can begin to build a robust sphere of influence that will provide you a lifetime of repeat business and referrals. – Click Here
3. The Free Interactive Real Estate Business Plan
The Free Interactive Real Estate Business Plan allows you to enter your business goals for this year and get a breakdown of how many prospects, listings, closing, and so on are needed to reach your goals. – Click Here
4. The Become a Listing Legend Free eBook
Ready to take a vertical leap in your real estate career? If you’re looking for inspiration…and the tools and methods to dominate a market and go to the top in real estate…you’ll find them in this free book. – Click Here
5. The Take a Listing Today Podcast
Watch the ProspectsPLUS!, Take a Listing Today Podcast for actionable content to help you get more listings. – Click Here
Please reach out to our support team at 866.405.3638 with questions or if there is anything we can do to help you in your success.
We’re here to support you.
Your ProspectsPLUS! Team