Anticipate sellers’ concerns before they voice them

One of the greatest complaints sellers have about their real estate agent is that after the house is listed, the agent doesn’t keep in touch, according to Roseann Farrow, a national instructor and real estate broker.

“Maintaining relationships with sellers is critical,” Farrow says. “Keys elements include uncovering motivation, clear communication skills, and managing expectations. Agents need to interview their seller prospects using the consultative approach – question, listen, clarify, provide solutions.”

She says it also helps to understand the behavior style and generational drivers of our sellers. Anticipating the sellers’ concerns before they are voiced is another essential step. “Know the NAR data. According to the National Association of Realtors® Profile of Home Buyers and Sellers, the top three levels of service that sellers want include marketing the property, meeting the requested time frame for selling and competitively pricing the home. As their Realtor®, you need to address these issues and clearly explain the selling process,” Farrow says.

Many agents, trying to justify and defend their commission, spend too much time telling clients what they’re going to do in the process rather than demonstrating their value proposition. “It’s critical for Realtors® to explain that the listing agent’s job is to market the property, cause it to sell, and manage the sale through closing and beyond.”

“The old-time mantra ‘I’d rather turn you down now than let you down later’ is still very appropriate when Sellers dictate unreasonable demands or unrealistic pricing strategies. Clarifying our role and helping the client understand the process eases seller anxiety,” Farrow says. “The goal is to create and maintain a win-win relationship with every seller.

Farrow will present three sessions at the Triple Play Realtors® Convention in Atlantic City, December 8-11, 2014. They include: “Create & Maintain a Win-Win Relationship with Sellers,” “Taking Your Marketing Plan Global,” and “Recruit & Retain Agents in 2015.” Register to attend online.