Confidence and security. Despite all the data and reasoning, it’s the emotions that help us settle on a decision. Homebuyers want to feel secure in their purchase. Sellers want to feel confident their agent can take care of business.
In today’s video, Steve Harney discusses how to make clients feel confident and secure in their decisions — by connecting the dots for them. Here’s what he had to say about the subject:
Which Dots You Should Connect
Depending on your client and their needs, you’ll use data that fits their profile. It’s a case-by-case basis, and you should keep that in mind. For now though, here are few starting points on where you should connect the dots (for your clients):
1. Market Statistics
Data on the “local” market is everywhere. People can find it on websites like Zillow and Trulia. They can hear about it from other people they know. But more than likely, they want your opinion. You are their trusted real estate expert. It’s time to piece together the numbers into something understandable.
For homebuyers and sellers, market statistics are clear signifiers if they should act now or wait another year. They show people their investment will be worth it, so make sure to translate the numbers into actual words.
2. Property Pros & Cons
Let’s pretend I’m a buyer, and I’m interested in a property on 345 Random Street. As my agent, you want to focus two things: The property’s details and the property’s location.
Start with the property details first. Will the home’s open floor plan let me keep a better eye on my kids while I cook in the kitchen? Is the home in a cellular dead-zone? These are just examples, but the idea is the same. Show how the home’s features address my needs and wants.
Next, highlight the pros and cons of the location. Is it close to my workplace, giving me a short commute? Is there a great school nearby, so my kids will have a great education? Is the neighborhood quiet, making it perfect for my family? Mention these points. They help show me that this property is the right (or wrong) choice. Again, it has to be tailored to your client.
3. City Planning
Real estate isn’t a one year investment. Most people plan to stay in their home for more than 5 years. That’s why they work hard to make the right choice the first time. So, letting a prospective buyer know if the city is planning on adding an interstate across their neighborhood is definitely something they will want to know.
Think about if the city was planning on adding a new, modernized school nearby. We know good schools improve home values, so that would be a great opportunity for a buyer to strike now, before prices go up. Plus, they can sell for an added profit in the future. It’s a win-win you should highlight — making your client feel confident in their decision.
Get knowledgeable on the city’s future planning, so your clients don’t feel bitter later on.
4.Finances & the Economy
“How much can I afford?” — a typical question buyers ask. Normally, real estate agents leave this for the lenders to answer, but this shouldn’t be an excuse not to know some helpful tips. Share useful insights like the impact of property taxes, home maintenance, moving costs, utility fees, etc. You could even go into how the property inventory is shifting and what that means for prices.
A lot of times, lenders look at the maximum amount a buyer can pay every month. Not everyone shows how you should save money for things like taxes and maintenance — which impacts how much someone can afford. Making people count for every contingency will make them feel comfortable and secure with their home choice.
The Dots Connect to Emotions
The examples above are just a few to name. Every data point affects your client and their emotions. To make sure they’re happy with your service and your brand, you need to connect all those data points into something understandable. Being confident and feeling secure in their decision will leave a positive reaction they will always talk about with friends and family. They might even write a review online.
So, connect the dots for your client and build a better brand for your real estate business.
*Steve Harney is the Founder and Chief Content Creator of Keeping Current Matters. He’s been in the industry for over 25 years, first as an agent and then developing his own 500 agent real estate firm. He now helps producers achieve their true potential, and is seen as a leading industry thought-leader.