{"id":14797,"date":"2020-03-04T09:30:51","date_gmt":"2020-03-04T17:30:51","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=14797"},"modified":"2020-03-06T20:52:37","modified_gmt":"2020-03-07T04:52:37","slug":"agent-set-client-expectations-real-estate","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/agent-set-client-expectations-real-estate\/","title":{"rendered":"No Surprises! How 2 Top Agents Set Client Expectations From Day One"},"content":{"rendered":"

Everything was going according to plan. The house appraised, inspections went smoothly, and the buyer was excited about his soon-to-be new property.<\/p>\n

Then, the day before closing<\/i>, he bought a motorcycle.<\/p>\n

You can guess what happened next. The lender reported that the buyer was no longer qualified for his pending mortgage. Just like that, the deal fell apart.<\/p>\n

Having warned her client early in the process that now would not be the time to open or close financial accounts, Teresa Cowart<\/a> was surprised.<\/p>\n

\u201cI asked him, \u2018Why did you do that? I told you, don\u2019t buy anything!\u2019\u201d<\/p><\/blockquote>\n

\u201cWell, you didn\u2019t tell me not to buy a motorcycle,\u201d he replied.<\/p>\n

For Cowart, a top agent in Savannah, Georgia, and 2019 HomeLight Achievement honoree, the experience was a lesson learned during her first year in real estate in 2005. She\u2019s since developed detailed, design-forward publications that she gives to (and reviews with) each and every client, buyers and sellers alike.<\/p>\n

Below, Cowart shows how she uses these publications to set client expectations from the beginning. We\u2019ll also introduce you to another agent who begins every working relationship with an extensive interview that helps avoid surprises during the rest of the transaction.<\/p>\n

\"Teresa<\/a>
(Teresa Cowart’s seller and buyer publications \/ Source: Teresa Cowart)<\/figcaption><\/figure>\n

Teresa Cowart: Putting expectations in print<\/h2>\n

\u201cI don\u2019t know how you manage every<\/i> expectation,\u201d Cowart says, \u201cbut I think that the more you give [clients] on paper and the more you talk to them and really have conversations with them, the better off you\u2019re going to be in the end.\u201d<\/p>\n

Cowart sets expectations by educating her clients about the real estate process. She has separate publications for buyers and sellers, both of which are 20 pages long.<\/p>\n

\u201cOne of my favorite phrases is \u2018conflict arises when expectations differ,\u2019\u201d says Cowart. \u201cWhen you set the stage right up front \u2014 what the normal processes are, what the pitfalls may or may not be \u2014 people react much more favorably when things do happen during the process.\u201d<\/p>\n

For example, Cowart is especially clear about advising sellers on how, at the beginning, they\u2019ll be hearing from her frequently as she\u2019s getting the house listed and the marketing underway. But once their house is under contract, they probably won\u2019t hear from her quite as much and that doesn\u2019t mean anything bad has happened.<\/p>\n

\"\"<\/a><\/p>\n

From the client\u2019s perspective, it\u2019s not only knowing what to expect, it\u2019s trusting that you, as their agent, will be there to guide them through this real estate journey with honesty and expertise.<\/p>\n

The seller’s booklet also explains and sets expectations about showings, open houses, marketing, photography, and pricing the home.<\/p>\n

Since her publications provide a comprehensive overview of the real estate process whether it\u2019s a purchase or a sale, Cowart\u2019s clients have an in-hand resource they can refer to at any time. Then, as the transaction progresses and gentle reminders become inevitable, her publications serve double-duty by reinforcing what has already been discussed.<\/p>\n

\u201cIt\u2019s not that you can sit down with them in that first meeting and throw all this [information] at them and say, \u2018here you go!\u2019\u201d says Cowart. \u201cSometimes I point things back out to them, like, \u2018Remember that seller\u2019s book I gave you?\u2019 and \u2018Remember when I said it would take 48 hours for this and 24 hours for that?\u2019 Then it\u2019s \u2018Oh, yeah, yeah, you did say that.\u201d<\/p>\n

Let\u2019s be honest: It\u2019s great when the aim is to serve your client, but it\u2019s also important to cover your own you-know-what.<\/p>\n

Cowart\u2019s buyer booklet gives her clients a detailed look at the step-by-step home-buying process, advice for buyers before they begin looking at homes, and a detailed guide to what happens when they write an offer.<\/p>\n

\"\"<\/a><\/p>\n

\u201cOne of the biggest complaints I hear overall in our industry is, \u2018I didn\u2019t know,\u2019 or, \u2018She didn\u2019t communicate that to me,\u2019 so my goal since I started [in this business] is to make sure that people are educated,\u201d Cowart says. \u201cIt\u2019s hard for somebody to get mad at you and say, \u2018You didn\u2019t tell me that,\u2019 when not only did you tell them, but you gave them documentation to back it up.\u201d<\/p>\n

Tim Hawley: Insights from an in-depth interview<\/h2>\n

In Springfield, Missouri, top-selling agent Tim Hawley<\/a> deploys a different \u2014 yet similarly effective \u2014 strategy with his clients. He sits down with potential buyers or sellers before any contracts are signed and leads a discussion that he\u2019s designed to be mutually beneficial for both client and agent.<\/p>\n

By digging in and finding out expectations early on, Hawley better learns how to keep everyone on the same page. \u201c[My questions] are all \u2018What\u2019 questions, and the reason I wrote them that way is because those are open-ended questions. They\u2019re not yes-or-no,\u201d he says.<\/p>\n

\"\"<\/a><\/p>\n

From his list of questions for potential seller clients, Hawley explains his \u201cthree deep\u201d concept, which involves asking one main question, with three similar questions to follow.<\/p>\n

\u201cSometimes people will give you the expected answer, then when they think about it a little more, they\u2019ll give you a more honest answer. When they think about it even more than that, they\u2019ll give you a more personal answer, which is why we go three deep,\u201d he says.<\/p>\n

While top real estate agents may be skilled marketers and negotiators, they aren\u2019t necessarily magicians. Part of setting client expectations means being able to help clients understand how the local market will affect what is possible when it comes to selling \u2014 or finding \u2014 their home.<\/p>\n

Hawley broaches this subject as part of his initial interview process, letting his potential clients know that if he picks up on an expectation that feels off during the course of their conversation, he\u2019ll revisit that point. Not only does this allow him a chance to educate, it builds trust. Should they choose to move forward together, the client will know that they can trust Hawley to be genuinely honest with them.<\/p>\n

\u201cI\u2019m not going to tell [a seller client] that this is going to be a three-month process or a three-week process, but I need to know if they think I\u2019m going to sell their house in two days because their neighbors did,\u201d says Hawley. \u201cI need to know that.\u201d<\/p>\n

Sometimes, managing client expectations takes a bit of scenario repositioning; Especially when it comes to price.<\/p>\n

\u201cIf I ask [the client] what they think houses are going for and they\u2019re 10-to-15% high, or they say something like, \u2018I can\u2019t sell my house unless I get this much\u2019 and it\u2019s 10% over what I\u2019ve already figured out would be a good asking price, I\u2019ll revisit that,\u201d explains Hawley.<\/p>\n

\u201cI\u2019ll ask them another question, which would be something like, \u2018So, if your house does not sell for this amount of money inside our six-month contract, what are you going to do? If the market only brings you x amount, are you willing to stay in your house, or have your house sit on the market and help other houses sell during that time period?\u2019\u201d<\/p>\n

Hawley says that this tactic usually inspires a client to look inward, and think deeper about what may be more feasible for their situation.<\/p>\n

\"A<\/a>
Source: (Marta Filipczyk \/ Unsplash)<\/figcaption><\/figure>\n

Managing the client\u2019s mindset<\/h2>\n

Ask an agent what happens when you don\u2019t<\/i> properly set and manage client expectations, and you\u2019ll likely get an answer similar to Hawley\u2019s: \u201cThe clients think you\u2019re not working and you don\u2019t deserve your commission.\u201d<\/p>\n

When you\u2019ve been in the real estate game for a while, you know how easy it can be for a client\u2019s mind to wander. Whether it\u2019s a few days without a showing, or the weekend has come and gone without newsworthy updates, suddenly your client assumes you\u2019ve dropped the ball.<\/p>\n

\u201cIt\u2019s really about educating the buyer or seller about what is coming, what is possibly going to happen, the good, the bad, and the ugly,\u201d Cowart says. \u201cIt\u2019s all about letting them know ahead of time what the potentials are, then when something crazy happens, you just have to address that. We control the narrative.\u201d<\/p>\n

Be careful about unspoken promises<\/h3>\n

Your reputation might be a surprising source of mismanaged client expectations.<\/p>\n

\u201cI don\u2019t want [a client] to come back to me and say, \u2018You told us that 75% of your houses sell in three weeks and it\u2019s been three months, what\u2019s going on?\u2019\u201d says Hawley, noting the particular importance of managing expectations when it comes to perceived assurances.<\/p>\n

\u201cWhen you make these kinds of promises, like \u201875% of my houses sell in three weeks,\u2019 you back it up with, \u2018and if I am unable to sell your house in three weeks, we will be having a meeting on the 21st day to find out why that happened, why your house is still on the market.\u2019\u201d<\/p>\n

To this end, Hawley sends clients an email each Wednesday summarizing the week\u2019s activity, and he follows that up with a phone call each Friday. By providing his clients with a scheduled time for conversation, they know they\u2019ll always have an opportunity to ask questions and express concerns to which Hawley can respond right away.<\/p>\n

While it\u2019s easy to assume that a dissatisfied client will speak up, concerns that are left unchecked can fester for days or even weeks. Managing the relationship so that you always know what your client is thinking (or what they may be worrying about) allows you to stay ahead of the curve.<\/p>\n

For a client who isn\u2019t immersed in the real estate world day in and day out, the process of buying or selling a house is an information overload times ten. Explaining the procedure and possible setbacks at the beginning of your agreement is a great start, but managing expectations requires ongoing commitment.<\/p>\n

\u201cI think a lot of it is just [the clients] knowing that they can ask anything they need to ask and that I\u2019m on their side,\u201d says Cowart. \u201c[My clients] can text me and call me anytime and if I don\u2019t know the answer, I\u2019m going to get it.\u201d<\/p>\n

Setting expectations is about eliminating surprises<\/h3>\n

On a base level, many of us may assume that setting client expectations in real estate is a simple matter of communication. Answering the phone, responding to emails and texts in a timely manner, talking clients through the next steps as the transaction progresses \u2014 seems clear, right?<\/p>\n

In reality, there\u2019s more to it than that. Whether your client is a first-time buyer or an experienced seller putting her sixth home on the market, they\u2019re going to have certain expectations. Many of those will directly relate to your actions as their agent.<\/p>\n

From Cowart and Hawley, we see three clear core components to setting real estate client expectations, whether you use the printed word or in-depth interviews:<\/p>\n

    \n
  • Education<\/li>\n
  • Honesty<\/li>\n
  • Communication<\/li>\n<\/ul>\n

    Master these elements and you\u2019ll be well on your way to happy, focused clients who feel confident and well-informed.<\/p>\n

    As Cowart says, \u201cMy job is to make sure there are no surprises. Maybe things happen that we can\u2019t control, but there are no surprises along the way. The clients are prepared.\u201d<\/p>\n

    Header Image Source: (Amy Hirschi \/ Unsplash)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

    Using client booklets and in-depth interviews, two top real estate agents show how they set and manage client expectations from transaction start to finish.<\/p>\n","protected":false},"author":152,"featured_media":14833,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","cybocfi_hide_featured_image":"","footnotes":""},"categories":[193,692,669],"tags":[],"class_list":["post-14797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-agents","category-client-communications","category-selling"],"acf":[],"yoast_head":"\nHow Top Real Estate Agents Set and Manage Client Expectations<\/title>\n<meta name=\"description\" content=\"Using client booklets and in-depth interviews, two top real estate agents show how they set and manage client expectations from transaction start to finish.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.homelight.com\/blog\/agent-set-client-expectations-real-estate\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"No Surprises! 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