Wednesday, November 12, 2014

Managing sellers expectations and communicating effectively

Buying and selling residential real estate is one of the most emotional transactions consumers conduct. Understanding client psychology, managing expectations, and using effective communication are the three most valuable skills that a real estate professional needs to develop for a successful career with less stress.

Client Psychology
Understand the psyche of your client and your chances of a smooth transaction increase dramatically.
Is the client a standard seller who has lived and raised their family in the home for the past 25 years, but has not done many upgrades?  Perhaps prepping this client for the possibility of offensive offers from cash investors will be important to making sure they don’t take things personally, or worse, become unreasonable sellers.
Understanding client psychology is important, however, equally important is they understand your psychology. It is vital to the client relationship that they understand your goals are in-line with theirs, and as a fiduciary you will only represent their best interests. Breaking down the walls in the beginning is one of the best ways to get on the same page as your client.

Managing Expectations
Here are two examples of how to manage expectations with buyers and sellers.
  1. Home inspection. If the buyer thinks a seller is going to update a 1920 home to the current building code, this is usually a bad sign. The expectation should be set before the report is issued of what will be outlined and items that should reasonably be expected to be addressed. A buyer can always ask for everything and a seller can give nothing, but by setting the expectations upfront you will help clients get more without losing it all.
  2. Setting price with sellers. There is no easier way to upset a seller than continually ask for price reductions. Go through the pain once in the beginning, set the price right, and sell the home. Otherwise you will continually have to explain why the price needs to be reduced. Set the expectation and get the job done right, the first time.
This will be short and sweet:
  1. Call, e-mail, text, or Facebook your clients with updates and information before they call you. Third-party vendors should do the same (lenders especially, escrow, title, etc.).
  2. Bad news early is good news. Do not delay making these calls.
Understanding the client, managing expectations, and communication are key to keeping clients happy and your success high.
By Sammer Mudawar

Ron Goldstein,MBA
Certified Luxury Broker@Berkshire Hathaway Chicago & St. Petersburg
Principal, Silver Professionals
(o)312-264-5846 (c)312-771-7190 (f)312-264-5746

Offices in Chicago and St. Petersburg
Connecting people w/ jobs & homes!

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Monday, November 3, 2014

Carpe Diem- Thought leadership & November Real Estate Newsletter from your trusted advisor

3000 More Homes for Sale in September
A flurry of autumn listings has hit the market in the Chicago area, signaling optimism in the real estate market. Chicago Tribune reports that 16,000 houses, townhouses and condominiums were available for sale in the Chicago area in September, which is 2,000 more than in September 2013 and 3,000 more in September 2012 according to Midwest Real Estate Data. 
Home Equity Soars: Now Above 2009 Levels
Home equity lines of credit have increased 20 percent in comparison to a year ago and are at the highest levels since June 2009 according RealtyTrac’s Home Equity Line of Credit Trends Report. Nearly 19 percent of all home owners have regained at least 50 percent equity in their homes and the percentage of home owners with severe negative equity has fallen from 29 percent in 2012 to 17 percent. Nationwide, 49 out of 50 metro areas posted year-over-year increases for the year ending June 2014.
A Healthier and Faster Real Estate Market
The number of distressed properties locally and market times of listings both continue to drop. Prices also continue to rise at a more moderately paced rate. As mortgage rates maintain levels at a historical low, and local unemployment levels decrease, momentum in the real estate marketplace is growing in the fourth quarter of 2014.
Good to Know
Energy Saving Tips for your Home
As temperatures cool in the fall and winter months, has compiled a list of helpful tips to save energy within your home, and the tips are inexpensive too! Some of these helpful hints include covering drafty windows, adjusting the temperature within your home appropriately, and finding and sealing air leaks. To find out further details about these tips as well as other ways to conserve energy, please click here.
Seasonal Table Settings for Thanksgiving 
Hosting a meal at your house for Thanksgiving this year? offers fun entertainment ideas without the frills, with everything from a hot apple cider drink to turkey garnishes. To see HGTV’s suggestions, please click here.
Check out the newest game in town.Berkshire Hathaway..The world's most trusted brand!
Opening up the new Beach Drive office in beautiful downtown ST. Pete!
Picture yourself collecting shells on Trip Advisor's BEST Beaches then coming to your affordable lifestyle or 2nd home in Tropical St. Pete to Sarasota
Carpe Diem..For the Ongoing Collection of LIFE!
See for Yourself
US Housing Market Outlook for FALL 2014
#‎chicagoluxuryrealty‬ ‪#‎stpeteluxuryrealty‬

Ron Goldstein

Luxury Broker Associate

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