Emotions and anxiety are running rampant among our buyers and sellers in a way that we have not seen in many years.
Do not get me wrong, the last two years have been anything but a breeze with shortages, demands and greed. We had to get creative to get our buyers into homes- especially if you are like me and your average client does not have lots of cash.
We had logical and logistical problems. Logical problems are easy to solve. However, the changing market means changing problems.
Today's problems are becoming less logistical and more managing emotions and anxieties.
Sellers are nervous for their home to sell and a week on the market feels like a month for many. Their hopes and expectations are of the past. Now things are taking 2-3 weeks on average to sell (not bad at all! Years ago you'd expect it to sit for 3-6+ months) buyers are asking for repairs and closing costs. On average many multiple offers are not yielding too much more than asking.
On the flip side you have buyers willing to pass up anything that is not what they want, even with limited supply. Buyers want a premium product if they are paying a premium price. Buyers are concerned about future values, getting stuck upside down, interest rates and major repairs.
Let us not forget about the other agents in our market, who are equally concerned.
Speculation is at an all time high as everyone's greatest fear is looming on the doorstep... the fear of the unknown. Everyone can feel that something big is about to happen, they just don't know what it looks like.
Clients may be taking out on you the boiling fears and emotions.
If you, a client, or a friend is dealing with the fear of the unknown, here are a few things you can do:
Focus on what is within your control. You are to be the very best at following through with the things you say you are going to do, communicating timely and effectively, marketing, scheduling, etc. BUT You are responsible for the job you do, not the situation of the seller or buyer. Sometimes they want to put that onto you and you must not take it.
Create systems that calm anxieties before they happen. For example you already know the process, common questions, and times that tend to be issues. Sellers always want feedback on showings, opens etc. So put a system in place to email a filled out template that breaks down all of that and what you have done that week to sell their home. Email it every 'Friday' at 9:30 A.M. and they will let you be.
Always bring it back to the clients goals. Sometimes the many variables our clients are dealing with overwhelms them and turns the view of the goal into a static picture. It is our job to come in and bring that picture back with clarity and the best options. We pick the top 2 or 3 solutions and let them choose what is best for them. Like your children, they are looking for guidance, even if they are fighting it.
You do not want to make the mistake of allowing your ego to show up, instead of the hero. Be the hero for your clients, family and community by showing up to solve the problems without needing to be right or look good. You got this!
P.S. If you got value from this week's blog please share! Your support in my growth means the world to me!