When buying or selling property, people will always hire real estate agent they like to help them buy or sell the property. Therefore, as an agent, before working with the buyer or seller, we believe that we must make sure to find common ground or common topics of discussion in order to help build a strong rapport. Building a rapport is essential as it will help the client trust the agents with the deal. Without much of a rapport, clients might feel like they have to oversee each and every step taken by their agent while working towards finalizing a deal. While looking for common ground, getting to know a client better in terms of their hobbies, interests, background, field of work, activities they like to engage in, or any other shared interests, will help build a rapport and hence establish a strong trust factor. When arriving for the first scheduled meeting with the client, we believe that the first words of an agent should not be about themselves, but about the client. Taking a sincere interest in our clients and their lives helps our clients to have faith in the abilities as top real estate consultants.
When real estate consultants look at a client only from the business point of view, Clients notice this and will tend to watch every move made by the agent like a hawk. Clients get apprehensive as they don’t know if the agent is working just for the sake of earning a commission or whether they truly have the client’s best interest at heart. Once they are convinced that the agent truly cares, they will automatically take a step back. Letting the client see the personal side in the agent helps humanize them in the client’s eyes. Once they are satisfied that they can lay their trust on the agent, clients will choose only that particular agent to close the deal for them. They might even consider the agent for future jobs, if and when any.
In our experience as premier real estate consultants in Mumbai, we have seen that another way to build and improve rapport with clients is to ensure that our energy levels match that of our clients. We always observe our potential client’s energy levels. While some people naturally possess high energy levels, others might have a lower energy level and might be a little more reserved. We as real estate agents take note of the same and act accordingly. Once we make a conscious effort to “pace” our potential clients, the rapport builds quicker and much more easily.
As top real estate agents, one is better off making promises that can be kept. It is best not to over-promise and under-deliver. Nothing manages to ruin an agent-client relationship quicker than a series of broken promises. This is advice that potential clients are well-aware from the very beginning of the process, all the stages of buying or selling property and the approximate time it will take the agent to successfully deliver. Like any other business, the business of real estate too, is not perfect. There are major ups and downs that might occur over a period of time. Property investment is not an easy step to take for most buyers whether they be first time buyers or seasoned investors primarily because of the large sums of capital involved, the time taken to close a deal, complexities of the market etc. etc. A real estate deal requires research, analysis, regular meetings and it is overall a tedious procedure that might take a while. Closing deals is a tricky subject as the agent must be sure what they are getting their clients into. We always advise all our team members and associate agents that they keep their clients updated about the process. This helps strengthen the Agent-Client bond.
Providing Information and Not Just Data
The excessive availability of data today has caused people to become overwhelmed and overloaded with excess information. An excessive overload of any kind of information causes the mind to shut down, halting the thinking process, a state of analysis paralysis. Research suggests that people can make better and more informed decisions when they have less information provided the information is pertinent. When we are presented with too much data, it affects the cognition process by barring rapid thinking and evaluating, and we fail to sort through the given data, thus skipping what is truly significant. Additional information tends to often confuse people. If all that agents do is provide data, there would be no visible difference between them and the other data sources such as the Internet. At Gupta & Sen we work on differentiating themselves from other sources of information and service provided. One of the main reasons clients mostly choose not to depend on various sources of information and choose to hire us instead, is because we as informed and educated agents can provide appropriate information that the clients refer to and use, because that final information has been specifically customised keeping the clients wants, needs and expectations in mind.
Finding raw data is a simple task. However, filtering that data keeping in mind the client’s requirements will lead to narrowing the results for the kind of homes they are searching for. This is one of the most important duties that we perform as real estate advisors, as turning data into valuable information can help clients zero-in on a home more quickly and efficiently. It also shows our expertise and highlights our capabilities and value, as not only do the clients save time, but it also helps them make an informed decision related to the location or area, price, and other aspects while looking at purchasing a new property whether residential or commercial.
Funneling Appropriate Information
At any given time there maybe thousands of listings on the market, so part of our job is to funnel or filter only that bit of information we know our clients need. In order to be able to do so, we as agents must understand the clients’ wants and requirements. Once we have fully understood our client’s expectations, we begin to funnel the data and shortlist only those properties that match our client’s requirements. Filtering or funneling can be done based on the location or area, price, architectural needs if any, size of the property, school districts, easy access to transportation, markets, and other amenities. An agent’s expertise can help narrow the list down quickly and efficiently.
Buying or selling a home is a complex process that involves a number of steps and a number of pages of documentation. Agents can help their clients shorten the procedure by helping them recognise those elements that apply and the ones that do not. The key to being a good agent is to be an information resource, and not a data provider. Putting our past expertise and experience to the best possible use to learn and understand the needs of our clients helps us filter material to only that which applies to our client’s requirements.
Create a Sense of Urgency
Once agents have managed to build a strong rapport with their clients, agents must be of great service to them by giving them deadlines to help them come to quick decisions about the next step of action. We believe that as in any other project, setting a deadline makes us look more experienced and professional to their clients, as deadlines are powerful and help both parties speed up the decision-making. The key to creating a sense of urgency is to give our clients a cut-off date that is agreed upon by both the agent and the client. The deadline should be decided by the client with a little help from the agent. In case sellers are looking into painting or renovating before listing the house, we ensure to ask them the duration of the repairs. This creates a sense of urgency that keeps clients motivated and on their feet.
In order to maximise value as an agent, one must dedicate a majority of their time talking face-to-face with clients. That is where the real money lies. Agents must aim at maximising their value and hence must avoid wasting time on paperwork, flyers or other marketing strategies that can be outsourced to a team of professionals. The only source of profitable income is spending time on a one-on-one basis with the clients. While marketing and other services can always be outsourced to professional agencies, understanding what the client truly wants is our primary job.
Our associate agents are always reminded to keep in mind that engaging in activities that can be done by other people can take up precious time that could instead be spent getting to know the client. This is how we as Real Estate Consultants maximise our profits by understanding our client requirements and minimise wastage of time by having other professionals do our allied property-related jobs for us 🙂
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