Tip of the Week: Spotting the Red Flags

Your seller or buyer is acting differently – you start to picture them bolting out the door and sprinting down the street, never to return to your office again.

Getting cold feet before a big financial decision isn’t a strange phenomenon, but it is your job as a real estate agent to rein in your client and help them see the big picture: that you’re there to help them and guide them away from making any “bad” decisions.

Here are a few instances that your client might be ready to head for the hills.

Financial Issues

If your client is selling, then it is incredibly important to ask for proof of funds for a down payment when accepting an offer from a buyer. If the buyer can’t prove funds initially, it could be an issue that derails the transaction. If your client is buying, have a clear picture of their available down payment and financing.

Mundane Emotion

Sometimes homeowners may be having a difficult time saying goodbye to their home, resulting in upsetting emotions. In this instance, offering reassurance should be your top priority – reminding them that they’ll be able to make new memories, and that a new family will be able to cherish their home – are good reminders.

Not Understanding Scheduling

As a real estate agent, you’ve seen everything; you understand what will be smoothed out, and you understand the possible issues that arise and how to fix them. Your buyer or seller, ultimately, doesn’t really understand the ins and outs of the business.

Sometimes buyers and sellers start to panic when – to them – it seems as though things are going “too quickly” or taking “too long.” It’s important to remind yourself that you are their gatekeeper – let your client know when things are going smoothly and that in all honesty, the scheduling for closing on a home is pretty normal. According to the August 2018 Realtors® Confidence Index Survey showed that 76% of contracts were settled on time, with only 20% being delayed or 5% being terminated.

As a real estate agent, you’re helping guide your client through an excitedly chaotic time in their lives – a huge purchase that they’ll rarely make. Keep them calm, excited, and of course, help them reach their real estate goals.

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