Why do Buyers and Sellers sabotage a property transaction?
Those of you that have bought or sold a property probably already know the answer to the question. Yes, the answer is fear and doubt. The more the transaction becomes likely to happen, the more doubtful they become. Doubt, will lead to fear, fear of buying the wrong property, paying too much, selling too low.
Doubt and fear is the primary reason why many of the transactions that you were so sure would happen disintegrate into nothing. Often, and many of you will relate to this, you also lose the customer as the unwanted emotion ‘fear’ may be associated with you.
So we can safely say that as real estate agents, our primary focus should be directed at helping our customer take control of their fearful emotions so that they may make an educated and well informed decision.
Over the years I have identified three primary pillars that are effective.
The first is not hard for some and possibly more challenging for others, this is COMPATIBILITY, or you being liked by your customers. Given that a fair amount of time would be spent together, the customer will by default give more opportunities to people whom they like and click with. An opportunity would be, giving you the time to prove your worth as an agent even whilst making some small errors along the way. If you are not compatible they will not allow room for errors and in cases, even if you offer a pristine service, they will not work with you.
The second is COMPETENCE. Liked as you may be, if you are not competent in your role you will not go far in reducing the fear and doubt for a customer. An analogy that I like to use is the following. Imagine one of your best childhood friends ‘Peter’ becomes a doctor, not a very good one I’m afraid. Now imagine that another great friend ‘Paul’ has possibly developed some health issue that is causing you to fear for his life. Would you recommend Peter to save Paul’s life? You wouldn’t would you! Ok, so we aren’t doctors but the analogy applies, do your customers want an incompetent agent, or do they want a knowledgeable one? One who knows the areas that they are looking in, probably already knows all the options that are available to them. Knows a good area from a bad one, knows the difference between ground rent types and so much more. An agent who could guide them well through the fearful process of buying or selling a property.
The final pillar is HONESTY. No matter how knowledgeable you are in your field, if they feel that you are dishonest, they will cease to work with you. Nobody wants advice from an agent who it seems would happily sell them a lemon so long as they make a commission.
Once you have a solution to these three pillars you will find that the number of transactions that dissolve before your eyes will decrease dramatically. In a nutshell by being civil, respectful, pleasant, competent, knowledgeable and honest you will deserve and earn more.