Section 1:Bringing More to the Table

According to a recent RISMedia Reader Survey, 99% of respondents believe it’s extremely important to manage buyer expectations as the market continues to shift.

Drilling down further, 89% of survey respondents point to the initial meeting as the best time to set expectations with buyers.

And while respondents were pretty evenly split as far as whether or not the pandemic changed the way in which they approach managing the expectations of the buyers they’re working with—with 48% saying yes and 52% saying no—it’s clear to see that setting realistic expectations from the get-go will never go out of style.

But what do today’s buyers expect from their agent? While the answer may differ depending on whom you ask, according to Keith Robinson, chief strategy officer at NextHome, Inc., the simple answer is “more.”

“This is a stressful time to be a buyer, and they need more from us as an industry, and that’s okay,” says Robinson. “That’s what we signed up for by picking this career.”

But what exactly does “more” look like in an industry where real estate professionals already give so much (and then some) to ensure that their buyer clients have an experience that’s second to none?

“They’re going to need more communication, more thoughtfulness, more patience and care,” explains Robinson.

“Buying a house is stressful every time, but it’s even more stressful with the pace of change being what it is right now,” he adds.

Therefore, when working with buyers specifically, your No. 1 job is to:

• Listen
• Care
• Educate
• Empower

“Sometimes we’re their cheerleader, sometimes we’re their therapist, and sometimes we’re their sounding board,” adds Robinson, who goes on to explain that the key is to be present and listen while providing what the client needs in the moment.

Howard Hanna Real Estate Services’ CEO Helen Hanna Casey also recognizes the need to offer clients more as they navigate the challenges associated with today’s market.

“Over the last two years, buyers have expected their agent to find them the house, get them in first and get them the best price possible,” says Casey, “and so, the more we can give them, the better the chance that we’re going to be the one who is going to help them find their house and begin a relationship that’s going to last for their lifetime and your lifetime.”

As the future unfolds and buyers expect more and more from their agent, real estate professionals must raise the bar even higher in order to stay ahead of the competition and keep up with the evolving needs of their clients.

“Sellers today aren’t just expecting to find the buyer with the most money. They’re expecting to find the right buyer. And buyers aren’t just expecting to find a house, but rather, they’re expecting to find the right house without the pressure of 53 other people wanting it,” explains Casey.

“I think that clearly defines the differences between last year and this year in that our buyers and sellers are expecting real service and real knowledge,” she adds.

To that end, it’s more important than ever that the focus be on what the client’s needs are today and how to meet those needs and show them the possibilities.

For Casey, that boils down to getting back to the basics and helping clients feel more confident throughout the home-buying process.

“Selling a home in 24 hours with 24 offers is not normal,” explains Mark Johnson, president of JPAR® – Real Estate. “Historically, economists use six months on market to indicate a balanced market, while real estate professionals use four months as a benchmark—so setting expectations is a key skill of sales professionals,” he adds.