We live in the information world. Buyers, sellers and everyone in between has access to more information than you think. With the real estate debacle of 2008 having taught everyone a lesson in improving real estate transactions, it is in your best interest to open the hood and show clients what is involved. Here is why honesty and transparency in real estate in Milwaukee are critical.
Why Honesty and Transparency in Real Estate in Milwaukee are Critical
The Law Requires It
The laws created after 2008 real estate market crash are usually focused on mortgage lending, and any realtor has to be very aware of every single part they cover.
When you are a real estate professional, you know that you have to build a powerful relationship with mortgage lenders. As such, your reputation is at risk every time you send them a customer. Why is that? Because if the lenders aren’t honest and transparent, it is a reflection of you.
Be sure to know well everyone who you choose to work with and always ask for a feedback from your clients about their satisfactions with the transaction. This is critical step for you o avoid any problems that can affect your relationship with your client.
It Gives You Greater Value
It is a common trend among most customers today that they think they can buy a house on their own. They don’t understand what’s the point behind a real estate and they don’t want to pay the commission. After all, they can research real estate online, go visit open houses and even make an offer, all without a contract with a real estate agent.
What they don’t understand is the matrix of moving parts in negotiation and closing a home in escrow. This is your expertise and this is why they need you. It’s what you get paid for: making sure their dream home doesn’t slip away because a deadline was missed.
Take the bull by the horns and offer clients a customized email that is sent to them with all new listings meeting their search parameters. Give them what they can already find online, but what this does it keep you top of mind as the expert. Ask about what they like and don’t like to further hone into the perfect home for them.
Explain the process of buying a home, the access you have to pocket listings and the various costs associated with getting into a home. Acknowledging that buyers can do a lot of the work themselves doesn’t discount your value. Your value lies in the emotional handling of the process and maneuvering of the sale and escrow files.
Consumers Are Savvy to Lies
Because there is so much information available, consumers are very savvy to the realities of what someone says. If something doesn’t seem quite right, it can easily be fact-checked online.
For example, if you are a new agent, don’t lie. Realtor license records are public information. Even sites like Zillow list the number of transactions recorded by an agent in the previous year. It doesn’t seem right that an agent won’t update their Zillow numbers if they are inaccurate because doing so gives them higher credibility.
The same is true for just about any other aspect of the transaction. If you refer customers to a specific insurance agent, let them know what your relationship is. If it’s your cousin, tell them. Facebook and all other social media quickly show the truth if someone feels like they were referred as a favor, not for the quality of service. People rarely will refuse the referral and appreciate the heads up of knowing your relationship.
Because real estate purchases are worth hundreds of thousands of dollars and buyers have huge emotional roller coasters in the process of buying, being the calm, honest and trustworthy agent will serve you greatly taking your career to the next level.