In a previous article, we highlighted the fact that, the key to success as a Real Estate Agent is excellent service to your customers. The article went on to detail the components of excellent customer service a Real Estate Agent is expected to render to the seller of the property. In this article, we will deal with the elements of excellent customer service that the Agent is expected to prove to the buyer.
A successful Real Estate Agent is required to serve these two groups of customers, sellers and buyers, with the same dedication to excellence. For the buyer, this translates into the following list of duties:
Determine the buyer’s wants and needs and help the buyer clearly articulate the ideal home. The buyer usually knows what she is looking for, but is unclear what these mental pictures translate into reality. For instance, a buyer may say she wants a safe home in a safe neighborhood, but what does this look like? Or she may want a large kitchen, but what is large and how does her mental image line up with what is on the market. A good Real Estate Agent will help the buyer clarify what these wants look like in the market price range.
Pre-Qualification or Pre-Approval
What about guiding the buyer to the best mortgage facilities and to your officer contacts. This way they can get pre-qualified or pre-approved for a particular size mortgage. Not only is this a good service touch to the buyer, but it can also save you time and effort by understanding the price range the buyer can afford, thereby reducing time spent in showing properties outside this price range. Very often buyers go house searching not understanding clearly what they can afford.
Offer information on median prices in different neighbourhoods. This way you can guide the buyer to neighbourhoods within their price range. We suggest having a broad neighbourhood listing profile. Once again, this service is not only beneficial to the buyer, but it saves you time and effort by quickly narrowing down the list of possible options.
Organize and schedule a home search process focusing on the pre-approved price range and your neighbourhood pricing profile. Keep the buyer aware of your search by frequent updates, drive-bys and showing of available homes.
Help Make an Offer
Help the buyer make the best offer in the interest of both the buyer and the seller. A good Real Estate Agent aims for win:win situation, finding the most appropriate buyer for the listed property. Advise both parties on the terms and issues of the offer and help the buyer fill out the purchase offer contract. Ideally mediate between the both parties to obtain the best possible deal for both the buyer and the seller.
Coordinate and supervise document preparation and provide advice and consulting on pre-closing, making sure the buyer understands the terms and conditions of the offer.
Preview closing documents with the buyer, resolved any last minute issues and help all parties complete the transaction. Remember, in most cases, this may be a first time home purchase and they would not be aware to all the intricacies of finalizing a mortgage. Make sure all documents required by the mortgagor are available for fast processing.
Finally, after all the documents are signed and the mortgage is executed, offer a final service by helping the buyer with advice and possible coordination with the move-in. Assist with any post-closing issues such as, ensuring all promises by the seller to have certain amenities completed are duly fulfilled. At the end of the process, you would have created a completely satisfied and pleased buyer who would recommend your services by word-of-mouth.
We leave you with a Customer Service quotation: “The goal as a Company is to have Customer Service that is not just the best, but legendary”. Sam Walton