The value of Educating our Buyers and Sellers
I know in todays market we all know it is top priority to educate our Buyers and Sellers. So I thought I would take just a moment to share some thoughts.
As we place ourselves in the seller or Buyer’s shoes we have to acknowledge they may be confused a little frustrated and possibly scared. The information they have accumulated has mostly come from the news reports they have either listened to or read. Some of it will be fact, some may be myth, so we have to educate them on what is really happening and become their expert guide by directing and guiding them with factual information. First, whether it is buyer or seller it’s important to go over the process of buying and selling, make it detailed,sharing with them exactly what is going to happen including what might go wrong and how you will handle it.
Supply and demand has always been a measure on whether or not it is a buyer’s market or a seller’s market. In most markets today it is a buyer’s market; inventory is high, we have foreclosures and short sales competing with sellers who have to move for either business reasons or personal reasons. Which means we sometimes have to be the bearer of bad news (the house will not sell at the price the seller was expecting.) The houses that are selling today are either in perfect condition, or at the best value. Which means price per sq ft, incentives, and how we are planning to market it. Our goal of course (even though the absorption rate in a particular neighborhood might me 14 to 15 months) is to sell the house at the highest realistic price. The seller, even though they might not like what we are telling them, does appreciate the honesty. The goal of the seller is to move, our goal is to sell the house, we are doing the seller and ourselves a disservice if we do not share the market facts. Yes, that means sometimes they decide not to sell. Which is definitely good for us also as were not in the business of listings houses, we are in the business of selling the houses we list.
Explaining the process of the sale to the buyer means the difference between a smooth transition and possibly a difficult one. They will need to understand the contract, before they decide to buy a house. Give them a copy of the contact at the first meeting so they can go over it at their leisure, if there items that they have question about, you can explain them, so they will know what they are signing when they find the house they want to buy.
When we educate our buyers and sellers it establishes our value to our clients, they want to work with an agent who can recognize the importance of explaining each step of the journey to either buying or selling their investment.
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