Over the past few years, many buyers have faced challenges in their search for a home. Some have been priced out of their local market or been met with high competition at listings. As we navigate today’s ever-evolving real estate landscape, it’s important for agents to be mindful of consumer sentiment — which, at the moment, might be colored by frustration and exasperation.
Below, I share a few ways in which agents can play the long game and nurture their relationships with would-be buyers in hopes of one day getting them to close on a home they love.
Stay in touch and share market shifts, which are happening fast
While today’s buyers may be facing high prices, they are also seeing more options as inventory begins to grow. As things continue to shift and price growth slows, buyers could finally get some opportunities to negotiate.
For example, just this past June, Redfin reported that the number of homes for sale nationwide jumped 2 percent — the most since July of 2019. Plus, the median home sale price dropped 0.4 percent in June to $428,400 across the country. These are developments buyers in any market should know. Stay on top of the market and share helpful updates like these with your clients, either in a direct call, email or a regularly scheduled newsletter.
Your content is king. Share it regularly
Sharing regular posts to your social media accounts or sending out regular email communication is a great way to keep in touch with past, current and potential clients while nurturing those relationships with useful information and insight.
The key is to make your content digestible to readers and provide a helpful, reasonably optimistic take. For example, you can share a link to a recent article about interest rates or market shifts but be sure to include your own breakdown of what this news might mean for buyers in your area.
Do your best to use straightforward wording so readers with varying real estate knowledge can jump in and feel like you’ve imparted useful info. To help build an audience, share excerpts from your emails on your social accounts with a link to sign up.
This type of thoughtful content can help build more trust between you and your clients. Your consistent contact and empowering insights will help show that you are in tune with the market and have a grounded perspective that they can rely on.
Encourage clients to get pre-qualified
Getting pre-qualified means a client will have a clear understanding of what their purchasing power is — which means you, the agent, can better guide them to properties they have a better chance of obtaining with a smart offer.
Choose wisely when selecting homes to show your buyers
You want your buyers to be energized, inspired, and bolstered by any in-person, private showings you arrange. Disappointment and frustration are natural responses to challenges or setbacks — and there is no need to stoke these emotions in your clients by showing them homes that are out of their purchasing power.
Get clear on their checklist, be sensitive to their needs and parameters, and do your best to share properties with them that meet the criteria they give. And when they don’t, acknowledge it and provide your reasoning as needed.
Encourage but don’t rush the process
Remind your clients that the market is balancing out and while inventory may still be low, in many areas that is changing. Remind them to be patient and prove to them that you are not giving up on the hunt for their dream home — so they shouldn’t either.
Stay in touch to share news and developments on promising listings as you hear about them. Be sure not to overwhelm or pressure them; simply show you have hope and are still working on their behalf to locate the best home to fit their needs. After all, you’re in it for the long haul.