Every once in a while it’s good to get back to the fundamentals, and that’s true whether you’re talking about your career, your golf game, or even your culinary capabilities. Often you’ll find that by reorienting your foundation in smart ways means everything that’s built on top it is improved as well. Being a service-plus real estate agent in Canada is no exception, here.
While experienced realtors will quite likely have a firm grasp on strong fundamentals in the real estate business, it is novices like many of you taking advantage of our opportunity here who’ll benefit from first understanding them, and then revisiting them often.
Speaking of opportunities first, however, our online real estate lead generation system for Canada here at Real Estate Leads comes extremely well recommended for any realtor who’d prefer to hit the ground running and build up his or her real estate business with greater rapidity. Long story short, it puts qualified leads for you area in the hands of one realtor and one realtor only – you. Of course, those leads are only opportunities – what you do with them is up to you, but a market and industry-savvy realtor is always up to that challenge.
Back to today’s topic though – what are the fundamental basics of what clients want from their real estate agent?
Buyer Client Expectations
The first difference to understand with buyers in comparison to sellers is that they’re a whole lot more complex and varied with their prerogatives most the time. There are different levels of experience and requirements. First-time buyers often need an overly guided approach to their buying a home. Investors, on the other hand, will usually want lots of data. Transactional help, lots of interpretation of documents, and help with decisions are often also standard wants / needs for buyers.
But that’s likely quite obvious for many of you, so let’s look at specific buyers based on the properties they’ll be evaluating.
If a client is focused on the vacation or resort home market, they’ll almost always need even more support. Many of these properties are in rural, mountain or seaside areas, and these are areas that often have strict environmental, developmental and building codes. If your client is an out-of-area buyer they will be looking to you to provide skilled representation to ensure they aren’t buying something with hidden future problems.
When representing buyers in other specialized areas or property types, these buyers will tend to lean more on your expertise and local market knowledge. Condominiums are the purchase of-choice for most buyers these days in Canada’s large urban centers, and they’re that way very much out of necessity. Condo rules (via strata) and financial particulars will be extremely important to these buyers, and they want their realtor to be explicitly in the know about them before they go to see the property together for the first time.
Next, investment property buyers. As a whole, these buyers will usually be the most ‘informed’ demographic you’ll serve as a realtor, and just because this ‘isn’t their first rodeo’ as the expression goes. When it comes to these buyers, they often approach you with a great deal of market knowledge. Interestingly, what they value most in a realtor is an ability to take an aggressive approach to helping them locate good investment deals, and then strong negotiating skills to help them get their desired property at the right price. A real estate professional who can catch things they may have missed and bring them to their attention before an investment mistake is an invaluable resource for them.
Seller Client Expectations
It’s inadvisable to look at sellers as individuals who just want to sell their home quickly and for as much as possible. Yes, on the whole sellers are less likely to be overly reliant on their agents for help in the process. Most sellers will know how technology has changed the game in as far as how a home is marketed to the masses these days.
So where are their priorities now, and what do they want most from a listing realtor? Their hope will be that you will take the initiative when it comes to commissions and finding ways with creating lower costs with roughly equal marketing options. If you’re working with aa full-service commission arrangement, you need to have at least a few instances where you’ve gone ‘above and beyond’ and left them with the impression that it’ more than they might have received from a lesser real estate professional.
One very interesting trend that’s been observed from client satisfaction surveys in real estate for North America is that some home seller client really appreciated how their realtor was able to effectively and rationally explain to them how commission-free or low-commission real estate services (which are popping up absolutely everywhere these days) are inferior to that provided by a genuine in-the-flesh / at-your-door real estate agent.
This doesn’t mean simply stating – however truthful – that these homes tend to stay on the market longer. Instead, you should be able to explain why that is and what you’re able to do counter that eventuality if they choose to work with you.
Be in the know – and very in the know preferably.
We’ll conclude here today with a bullet point list of the skills and qualities actual home buyers and sellers of all types will typically be looking for in their realtor:
- Honesty and integrity
- Knowledge of purchase process
- Knowledge of real estate market
- Communication skills
- Negotiation skills
There are others, including people skills and technical skills, but these 6 are boxes that you need to be able to check and list out how you meet those needs exactly. Your marketing may feature these skill sets, or it may not. Either way, there’s always room for improvement doing your very best in these areas.
In conclusion, we can say that the qualities of a good real estate agent will vary based on consumer needs but the basics will always apply and are worthy of ongoing focus as a result.
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