It's crunch time. The property is under contract, and you're headed to the closing table. Some hiccup from the other side springs up and could possibly delay, or worse, derail the transaction. Realtors, how you process and communicate difficult news sets the tone for how your clients will respond to it.
Realtors run across a lot of scenarios in the normal course of business, and it helps to be seasoned and unflappable. Our job often requires us to communicate difficult news about matters that are extremely important to our clients. These properties represent life savings, dreams, inheritances, and a host of other emotions and connections to our clients. With that in mind, here are a few suggestions on how to handle communicating difficult information to clients when problems arise:
1. Collect as much information as possible. Try to understand what the problem is and be able to articulate the issues as clearly as possible with your clients. Find out from the other agent what the specific problem with the buyer's financing is, or why the surveyor is taking so long to finish his work. Being able to communicate with details is important, so make the phone calls about all of the "what if's" before you contact your client.
2. "Tell them what you know; don't tell them what you don't know." Help your client understand what you know to be true. Then don't speculate about the reasons or motives behind what the other party is doing. Keep it professional, and don't let your conspiracy theories run away with you and eventually kill the deal. If they have a question about a scenario, and you do not know the right answer, say so, and then find out from your broker or someone who does know.
3. Be honest. This is a legal requirement (and a courtesy) to disclose to your client what you know to be true about their transaction. People will respect you and appreciate that you told them the truth and didn't withhold information "for their own good." I shoot straight with my clients when a listing is over-priced and they are in an area saturated with listings that are poised to sell more quickly than theirs. People may not like to hear it, but most do want an honest assessment of where they stand.
4. Be as positive as possible. Even when the deal looks like it is coming apart at the seams, you can still be positive. "We found this buyer who was interested, and I know we can bring someone else who will appreciate your property as well." The light in which you present information is often how your clients will perceive it. Be honest and be as positive as possible. Don't be overly optimistic when it is not warranted. I encourage my clients once a property is under contract to be "Cautiously Optimistic" until we have a check in-hand.
These are a few things that have worked for me as I serve buyers and sellers of rural land in Alabama. They are applicable through all disciplines of real estate, and hopefully can be helfpul to the readers as well. Our clients really do take their cues from us, so be informed, be honest, and be positive.
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Buying or Selling Rural Land in Alabama? Let Jonathan Goode and the AlaLandCo team help you.
Jonathan Goode is a licensed Realtor and professional land agent with AlaLandCo. Jonathan works with buyers and sellers of rural land in the Black Belt of West Alabama. He and his family live in Marion in Perry County.
Jonathan is a member of the Realtor's Land Institute (RLI) and specializes in marketing hunting land, farmland, and recreational properties in Perry County, Bibb County, Hale County, and Dallas County, Alabama. Click here for a map of all of my current West Alabama land listings. You can see more pictures and get more information about all of my propterties on my website or follow me on facebook to stay current on what is happening in Alabama's land market.
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Jonathan,
Excellent points....your clients are very fortunate to have you as their representative.
Jo
Jo- Thank you for your kind thoughts and for reading my article.
Jonathan,
As long as you keep the lines of commincations open, keep being honest and be professional you will be fine.
Terry- Thanks for the encouragement and thanks for stopping by.