Technology sure has changed the role of the real estate broker. With clients having access to all sorts of online tools for finding houses, applying for mortgages, etc., brokers and agents have had to adjust to new ways of doing things. Would it be that clients adjusted along with them?
Buying a house in the 21st century is all about data. Unfortunately, this sometimes leads to buyers and sellers not truly appreciating the work real estate brokers do. That can lead to a rocky relationship that proves less productive. How do you avoid such a relationship? By treating your real estate broker like a business partner.
CityHome Collective is a real estate brokerage in Salt Lake City, Utah. They firmly believe in the idea of building solid relationships with clients, whether those clients are buyers or sellers. They offer the following suggestions for treating your real estate broker like a business partner:
Table of Contents
Don’t Waste Their Time
Business partners understand how valuable time is. As such, they do not waste it. You can go a long way toward keeping the relationship with your real estate broker on track by not wasting their time. Don’t ask them to set up appointments for homes you have no intention of considering. Do not make an appointment to see a home and show up 30 minutes late.
Remember They Work on Commission
An extension of not wasting your broker’s time is remembering that they work on commission. They only get paid when a deal gets done. Moreover, they do not get paid a base salary or hourly rate. They only get a percentage of the total sale. Therefore, the more time they put into making you happy, the less they make per hour. Help them make the most of their time.
Don’t Leave Them Guessing
Next up, successful business partners do not leave one another guessing about goals, visions, etc. They regularly communicate their thoughts. Treat your real estate broker the same way. They won’t figure out what it is you want by chance. Osmosis will not help them understand your needs and wants. In light of that, don’t be afraid to tell them what you like and dislike about the homes they show you. They want and need that kind of feedback.
Be Honest at All Times
More than one real estate broker has worked tirelessly for a client only to discover that the client’s credit rating would never facilitate an affordable mortgage. Had the client only been honest from the very beginning, things could have been done differently.
If you want to treat your real estate broker like a business partner, you will make a point of being honest at all times. You will be up front and transparent so that they know what they are dealing with at every stage. If you’re worried about being embarrassed, either get over it or fix your problems before you get in the real estate game.
Trust Their Expertise
As business partners, you and your real estate broker have areas of expertise. You are the expert in your own financial position and housing needs. Your real estate broker is the expert in facilitating real estate transactions. Trust their expertise. Don’t try to do their job for them. When they give you advice, heed it. When they make a recommendation, give it serious consideration.
Technology gives buyers and sellers more on-demand real estate tools than ever before. But both still need the services of an experienced real estate broker. A competent broker is an invaluable business partner that can help get a deal done.