5 ways to keep your seller’s expectations under control
Introduction
It seems impossible to know what is going through the mind of your selling client, so it is important that the real estate agent from the beginning clarify, as much as possible, what are the expectations that he can achieve. However, we know that some things are forgotten or not discussed, and agents often have a hard time handling a seller’s unrealistic expectations. And, between us, sometimes these have no limits.
When those expectations arise (because they will), you will have to face them head on, no matter how much your stomach flinches at the thought of doing it, because one thing is certain: the longer you wait, the more difficult it will be. Here are 5 ways to address seller concerns before they become outrageous expectations.
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What does it mean that the property has to be “ready to show”?
Everyone loves their own decorating style and many assume that the rest of the world will too. When you try to convince your sellers to modify their decor, you can use phrases like:
- “Maximizing the spaciousness of the place will make your home even more attractive”
- “I would recommend using a more neutral color”
- “I think we should reduce clutter”
Remind them that less “crowded” apartments look bigger. In general, try to be tactful when commenting on their decorating style and use suggestions rather than pointers or criticisms.
Do we need the recommendations of a home staging expert ?
Another point of divergence between the agent and the seller is whether or not the house is ready for the buyer to move into immediately. Although this generally refers to meeting established standards for safe structure and having basic functional services (such as pipes and electricity), today’s shopper often interprets that in aesthetic terms. Clarify the difference between these two aspects and avoid misunderstandings.
Does my property reflect current trends and styles?
Will potential buyers want to change things before they move? If so, it is time to have a preparation talk with your vendors and then modify what is necessary. In situations like these, leaning on another professional to evaluate the place is also a great way to convince your salesperson.
How fast are we going to sell?
Sellers sometimes have unrealistic expectations of how quickly they will sell their property. It is usually more effective to address this aspect using hard data, for example the average days that a property is sold in the local market. Make sure the data is up-to-date and relevant to the size of the property, price and the neighborhood where it is located. Showing a correlation between price, price drops and days on the market will be very convincing.
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This is just the first offer, right?
Finally, if they have been fortunate enough to receive a good offer from the start, warn your seller that this does not mean that many more will be on the way. We all agree that early offers are usually the best and sometimes end up being the only ones. Taking the “bird in hand” can save the vendor a lengthy and tedious display process, which also often results in a sale at a lower price.
Remember, no matter how outrageous your seller’s expectations are, it is vital to identify what kind of arguments will persuade them, once you do, dispense them with respect, emphasizing that you are also interested in obtaining the most successful result.
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