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Have you ever discovered that one of your previous clients is selling or buying a property through your opposition? It is often assumed that, having assisted a buyer previously, you now “own” that buyer and expect that they should use you to sell their house one day. If this is happening in reality, then you need to ask why?
The answer could be that you missed an opportunity to create a loyal customer. A buyer’s experience during the sale transaction was not impressive enough for them to want to use you again. You may have appeared to focus extensively on the seller, creating the perception that your client was less important.
The seller and agent choose the transferring attorney and can together influence who the lender appoints as the bond attorneys, yet it’s the buyer who pays the costs for these services...odd isn't it? Buyers are often sensitive to this, and agents should be mindful to avoid treating the buyer as a commodity or a means to an end.
You don’t want to create a situation where a potential buyer avoids a show house, based solely on who the mandated agent is. However, this is possible if their interaction from a previous dealing was so poor that it tarnished the prospective buyer’s experience.
So ask yourself the following question: Do you always offer your clients the right advice during the whole process? I have had many clients ask me the following questions during the bond application process:
“Who’s job is it anyway to explain this to the buyer?” - why not make it your job? This is a great opportunity to build a lasting relationship, and impress your client with your professionalism and knowledge.
There is nothing better than dealing with an informed buyer who knows exactly what is going on and is well- informed throughout the process. This is the preferred route since it also reduces the chances of a sale falling through due to the buyer not having been able to raise the required costs.
You may have answered yes to these questions...but are you telling this to your potential clients? Is it on your business card, letter head, and email signature? You can be sure that it is on your competitors’ communication. Clients want to deal with competent, knowledgeable agents. Let them know that you are one.
Clients will expect that the person they are dealing with knows the industry well and will make their experience a positive one. Technology has enabled us to be increasingly connected through Facebook, Twitter, Linked In, What’s App, Email........but we must not forget the personal touch.
As a mandated agent, your client is the seller, as the seller is the one who will be paying you the commission, but ignore the buyer at your peril. This “ugly duckling” will one day turn into a beautiful “Selling Swan” and will need the services of an estate agent.
Will you be the person they call? Make that lasting impression that puts you top of mind when they decide who they want to call!
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