From start to finish, the process of buying a house consists of many, many steps. It is more than just a negotiation, a consultation, or a transaction
From start to finish, the process of buying a house consists of many, many steps. It is more than just a negotiation, a consultation, or a transaction. As a broker or agent with many skills at your disposal, you will have the opportunity to influence most or all of these stages of the process, depending on when your client seeks your services and on a number of extraneous factors.
At any point in the process, it can be difficult to keep things moving. Efficiency can be a hard goal to reach when there are so many players outside of your control. Both buyers and sellers can lose motivation or get cold feet; they can reconsider their values and goals in the overall transaction; unexpected financial pitfalls can crop up and throw a wrench into an otherwise smooth operation.
Luckily, none of these issues are foreign to real estate professionals such as yourself. Keep in mind your skill set and your history dealing with difficult or simply slow-moving situations. Have patience, but maintain your tenacity. And at all times think about how the current situation can lead to the best outcome, not for the transaction alone, but for your client in their future life and your business in its future life.
Preparation and forecasting
It is not prudent to do too much “fortunetelling” in these situations, as they can be volatile or simply unyielding and often the only thing you can do is assess, act, and wait. However, at various milestones throughout the process, you should take inventory of what the potential roadblocks are likely to look like when they arise, and which corresponding skills and tools you will use to manage them.
Consider your client’s financial situation and their history with investments, real estate and otherwise. Think about their personal background and the values and reservations that are likely to come into play. You will need to be prepared to take on certain roles for your client, and not just prepared, but eager.
A client may not expect that you are equipped to handle their stress. They also might be misinformed as to what lies within and outside the scope of a typical real estate transactional experience. Some things may seem like a big deal to them, while you may have a solution ready and waiting. On the other hand, they may neglect to share certain anxieties or information because they are not sure whether it is important.
This is why it is so crucial that you keep an open line of communication with your client. Even when things appear to be going smoothly, ask questions that you perceive to be relevant to the current or future situation. Think about how the deal will come together and all the steps involved.
Make clear to your client what will be required of them at each juncture, and how you can help them meet their needs and their goals at each step along the way. By anticipating their needs and remaining open in your communication, you will make them feel important, heard, and taken care of. A solid relationship like this is empowering to you as well as to your client.
Essentially, your goal should be to put both you and your client in the position to confidently face any problems that arise, and to comfortably reap the rewards of a successful transaction when it is all over.