The Real Estate Market is Back to Needing Experts

During a time when sellers are more scared than ever to list, it is a necessity for agents to be working together. We all need to be able to handle the sensitive topics and emotions that sell/buys are feeling.

With the excessively low inventory still the prevalent issue within our industry right now we need to understand the importance of being an expert especially with so many potential sellers still too fearful to list their home.

So, what exactly can you do to become the expert?

You must have a well-rounded skill set made up of 2 key components - Training & Ability to Adapt

Training

Training is a must. Proper and consistent training will always be a must. The real estate industry is constantly changing as has been evident throughout this pandemic for the past year and a half. It is your job to keep up with what is going on (no matter the time of year, market, pandemic or no pandemic, you name it) and evolve with it. 

Take this historically low inventory problem we are currently facing; Agents must be well versed in handling these sell/buy clients who are too scared to list for fear of not finding another home – this is the only way to increase inventory. But, to do so requires a specific skill set. 

Understanding seller’s fears, and how to explain and show them that you have a plan to ensure they will not need to worry. Be putting those messages out to your clients on social media in the form of a video, and be talking about it openly so they want to work with you because of how understanding you are.

Ability to Adapt

Being flexible and having the ability to adapt to the new “how to” of the market (I.e., handling transactions, talking to clients) is a necessary skill to possess. Knowing your client’s needs, fears, timeline and current situation is imperative to the success of the transaction. Nothing in real estate is cookie cutter. You should be able to quickly and effectively shift your way of conducting business based on variables that will get thrown at you. 

One of the major components that one must be on top of is scripting. The script has flipped, and you must be able to shift the way in which you talk to sellers to match the inventory issue and more importantly, to ease their fears. 

Over the course of the past 2 months, we have stressed just how much sellers are scared to list for fear of not finding a home to buy, for being without a home, paying two mortgages etc. This means you need to know what to say and what NOT to say on that lead call – that first interaction you have with the potential seller. You must have a plan in place prior to going on that listing appointment, you must acknowledge their fears while you are there and show them the plan of how you will execute both sides of the sale.

Keeping yourself well informed on what the market is doing, continuously training on best practices regarding all things real estate, and showing publicly that you know what you are talking about is how you will become and be known as an expert in the industry.

We are in the midst of a housing crisis. The real estate market is back to needing experts.

Be the expert.