Realtors are often top professionals, however there are sometimes things that they get wrong. For example, they might overpromise, mishandle, or fail to deal with insights and complaints from industry sellers and buyers. If you think that your business might be in this position, and this blog is here to help. We take a look at some of the things that you might be getting wrong as a realtor and how to correct them. 

Overpricing just to win the listing

One of the biggest things that we’ve seen is the idea of realtors overpricing just to win the listing. Clients love it when you tell them that their properties are worth more than they actually are, and it makes them more willing to go with you. While this might seem like a good strategy to get them on board, it’s also dishonest and misleads them. It can also lead to disappointment because their home doesn’t sell or they start to think lowball offers. Therefore, just present the home at the market price. If you’re not sure what the market price is, then create a range of prices and ask the client where they’d like to fall within that range. 

Failing to provide comprehensive title services

According to firms like Time To Close Title, too few realtors are providing comprehensive title services. Here is to partner with notaries and other professionals who can deal with all the documentation without clients having to manage the process themselves. If you can enter into productive partnerships with these outsourcing companies, then you put yourself in a much better position. Clients are much more likely to want to use you. 

Inconsistent communication

You also see many realtors falling into the trap of inconsistent communication with their clients. For example, many simply don’t update them when something about their property sale or purchase changes. This radio silence can be quite off-putting for a lot of buyers and sellers. They want to feel like you’re holding their hand through the process because they’re not professionals and have probably only done it once or twice in their life before.

A lot of people also report agents who disappear after getting a listing. This practice is standard in the industry, and the incentives are understandable, but it can lead to long-run brand damage. The way to get around this is to commit to providing ongoing service. Simply staying in touch via a series of automated emails is often enough to keep customers happy, so the level of effort is minimal. 

Overpromising on timelines

Finally, you see a lot of realtors overpromising on timelines. They tell their clients that they’re able to sell properties within a few weeks, whereas in reality, it takes months or perhaps even longer. When things drag out, it leads to disappointment and confusion among sellers. They want to get rid of their properties as soon as they can because they need to move on. 

It can also create issues among buyers. They want to make a purchase but they’re unclear as to how long the process is going to take. Realtors in these situations need to be frank with stakeholders, and need to tell them exactly how long processes take on average. 

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