Posted In: General

10 Mistakes to Avoid as a Real Estate Professional

Post a comment

As a real estate agent, you understand how important it is to attract and retain sellers. Your reputation strongly depends on how much support you provide your clients, your knowledge of the market, and whether or not you can keep the promises you are making to retain your clients. You never want to be an agent that sellers regret choosing. If you want to build your reputation as the best real estate agent in your territory, avoid these 10 mistakes that real estate agents make today.

1. Promising that you can get the highest price
Sellers are typically meeting with more than one agent before they choose one to list and sell their home. Each agent is going to tell the seller the price at which they feel they can list the property. As you probably know, sellers want to get the highest sale price possible, but telling a seller that you can get a much higher price than other agents is a mistake you do not want to make. Not only do you increase the chance of disappointing the seller, you also risk the chance of damaging your reputation.

2. Failing to stay on top of housing inventory and sales trends
As an agent, you know that the housing inventory affects listing price. You want your clients to know that you understand current housing inventory and sales trends, so that they are confident that you can sell their home quickly by listing the home at the right price.

3. Failing to provide guidance and recommendations for pre-sale preparation
It is essential to give your sellers guidance, specifically when it comes to staging. If you fail to tell or show your clients how to stage their property to make the biggest impact, it can affect your ability to sell the property quickly and ultimately affect your reputation with your clients.

4. Failing to take professional pictures of the property
Professional pictures make a huge difference. Take the time to highlight features that sellers are looking for with images that are taken by a professional photographer. Do this and you’ll have more viewing appointments to arrange, and more popular open houses, too.

5. Failing to use Internet marketing tactics
Today’s market means agents need to do more than advertise listings in printed papers. If you are not using the Internet to advertise your listings on different forums in the community, you missing out on a lot of exposure.

6. Not being familiar with the local amenities people want and need
Agents who are selling homes in different areas need to learn about local amenities. A buyer does not want to buy a home being promoted by an agent who cannot point out local amenities or features of a neighborhood.

7. Not building relationships with other agents
You must build strong relationships with agents who represent buyers if you want to succeed. If you fail to build a relationship with other agents, you lessen your chances of making a deal during negotiations.

8. Lacking strong negotiation skills
You may be a familiar with the housing inventory, the sales trends, and be a marketing genius, but if you are not a professional negotiator, you are going to have trouble getting the highest price out of the buyer. Negotiation might be the hardest part of the process, but it’s a skill that will take you far.

9. Failing to listen to the client
Listening to your client is imperative. You need to hear what their goals are. For example, some clients are willing to take a lower offer if they can secure an all-cash deal. Others are willing to pass on low-ball offers without even countering. Failing to listen to what your clients will and will not accept is a critical mistake.

10. Failing to return phone calls
You should be available during business hours and prepared to call your clients back within a reasonable amount of time if you are busy with another client. One of the biggest complaints sellers have is doing business with an agent who does not make them a priority. Every one of your clients should feel like priority one.

Avoid making these 10 mistakes and you‘ll keep your clients happy. If some of these seem like opportunities to improve, get working on them and you are sure to benefit from customer retention and referrals.

It’s always a good idea to provide added value to your clients. One way is to recommend a home warranty company they can count on for peace of mind in their new home. Contact American Home Shield for more information.

Post A Comment

Comments (0)

Comments are closed.

Get Our Newsletter »