How To Inspire Client Confidence In A Frenzied Market
Transacting in this fast-paced, frenzied market isn’t easy, and for many clients, it may even be extremely stress-inducing. Here’s how keeping your lines open, educating your clients and improving your communication can alleviate some of that anxiety.
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Working in this fast-paced and high-stakes market is taking its toll on agents across the country. Consumers need high-quality service and more inventory, but as it stands, the current conditions are stressful and unpredictable for all parties in the transaction.
Many agents are throwing up their hands at this situation, because despite their best efforts, they can’t insulate their clients from the chaos of participating in multiple-offer scenarios.
Everyone’s a critic at this point, but one thing remains true. The consumer is getting the short end of the stick in these complicated and anxiety ridden transactions.
Communication and education
There seems to be a disconnect of communication across the board in the transaction. All parties are consumed with getting the clients to the closing table, but in many cases, the doors, the bumper and the mirrors fall off the car by the time it makes it to the theme park.
Brokers need to take a hard look at how agents are handling low inventory, customer service, buyer education and contract law.
Two questions that need to be top-of-mind: Does everyone understand what is going on? As well as: If someone had to leave me a review right now before this deal closed, what would it be?
Characters or experts?
It’s time to take a hard look at your marketing. Are you a character or an expert? Many agents are walking a fine line of using “relatable” humor to grow their social influence, and actually showcasing their expertise and showing consumers that they have the resilience it takes to help them find a home in their local markets.
The “drinking to deal with your job” meme has been around for decades in the industry. Agents constantly sharing pictures of having to drink to cope with low inventory doesn’t exactly inspire confidence.
Get creative, and show positive ways you are helping your clients win in this market. Don’t take the easy way out and create “instant noodle” content that will be attached to your professional profile for the rest of your career.
One of the worst critics you will face is yourself — especially if you are self-aware and you love your career and clients.
I challenge everyone to take their last 10 reviews and break them into your strengths and weaknesses. Then, go back and look at the communications on the file. Where can you improve? What “magically” worked out at the last minute that you now know you can prevent on your next transaction?
There is something to learn and improve on in each file. Improving your transaction will always be on your “to-do” list. Make this part of your monthly review, and remember that being a work in progress is not a negative attribute.
Stay humble, and keep your ego in check. Markets can change overnight and so can your career.
In short …
Don’t be a character, be an expert. Make sure your clients are securely strapped into the ride that is this market and know what they are getting into.
Check on your team, and let them know that you care about how stressed they are. Don’t let quality get lost in the quantity. Inspire confidence instead of frustration. You got this, and when the market shifts, you will have that too.
By day, Rachael Hite helps agents develop their business. By night, she’s tweeting and blogging. Feel free to tweet her @rachaelhite.