The Opportunity for Catastrophic Errors in the Real Estate Process is Too Great
In today’s world, nearly all real estate offers are sent by email. This means they can easily be lost in spam, overlooked, accidentally deleted, or forgotten. Many viable offers are lost in the real estate agent’s inbox, causing stress and frustration not only to the agent but to the clients, as well. The perfect offer from the perfect potential buyer could easily fly under the radar simply because of the pitfalls of email inboxes.
35% of offers end up being mistranslated to the client. For example, an offer of $585,000 was communicated to the seller at a different number like $485,000 or $558,000. Sometimes this can be attributed to transposing numbers and other times, it may be an oversight. Either way, the seller isn’t receiving the correct information which can cause problems and mistrust.
Sometimes communicating information between parties can be like the childhood game of the telephone. After the buyer talks to their agent, that agent talks to the assistant of the seller's agent, who then relays the message to the listing agent, who then delivers whatever remains of the message to the seller. Every step of the way, the information passed degrades until hardly anything is left of the original message. Miscommunication regarding the client’s wants and needs can have an incredibly detrimental effect, leaving buyers, sellers, and agents frustrated and flustered.
In today’s fast-paced world, time delays can make or break an offer. For example, an agent could receive a time-sensitive offer but doesn't see it for a few hours. Because of that, their client misses the window of opportunity. People expect to receive accurate information in a timely manner, and the current way of doing things just doesn’t work anymore.
OFFER1 directly addresses these steps and avoids catastrophic errors. The real estate agent inputs the buyer’s offer, but the buyer reviews everything before it is sent to ensure accuracy. Once the offer is sent, it goes directly to the seller and their agent. Offers and counteroffers are instantaneously sent, so there is no possibility of missing a time-sensitive offer. Since everything is handled through the OFFER1 platform, there is no chance of any offer or information being lost, misinterpreted, mistranslated, or sent to spam. This ensures a smooth, transparent, consistent transaction for all.
Be prepared and patient. Short-term thinking may lead to short-term results, so it’s important to consider your long-term goals. Having SMART goals (specific, measurable, achievable, relevant, and time-bound) can help you build a consistent standard of service.
Pay attention to the differences in every transaction. With 8 billion people in the world, it’s safe to say that every transaction will be a bit different from the last. Make a note of the things that stand out to you and contemplate different ways of addressing these. That way, when you encounter it again, you’ll know what to do.
Know and understand your client's needs. People want to be heard and understood, especially when it comes to making major financial decisions or life choices. Truly listen to your clients and empathize with them. Understand what they need, why they need it, and what you can do to make it happen.
Make everything as straightforward and as transparent as possible for your clients. It is very stressful to buy or sell a home, and many clients feel overwhelmed, confused, and left out of important information. By providing a transparent, easy-to-comprehend way for your clients to understand what’s going on, you can lower their stress while also building their trust.
Practicing good time management is something that doesn’t come naturally to many people, so building your time management skills can go a long way toward helping you build a quality standard of service. Organizing your tasks and prioritizing them can help you be efficient, prompt, accurate, and ahead of the curve.
Word of mouth is still a huge way for real estate agents to gain business. When a seller finds a real estate agent through word of mouth, 70% won’t contact other agents. By being the most organized and accurate real estate professional in the area, not only will your clients return, but they’ll also refer others to you, as well.
In addition to more business, being a consistent, organized, transparent agent will help change the stereotype of real estate professionals. Many consumers don’t trust real estate agents to be honest with them, which can cause a rift between agents and sellers. By providing a service in which the client is an active participant, you can show them that not everyone is focused solely on commission.