What kind of value are you bringing to your clients?
When I try to explain to a loved one what a Real Estate Agent offers to them in their road to home ownership, I always start with how a great Realtor will share their trusted vendors and in turn will protect them and, fingers crossed🤞, save them money.
Have you re-evaluated your vendor suggestions? Do you have multiple options based on your clients needs?
Let's talk about what you can do to upgrade your value by evaluating your vendor choices and how you can not only ensure your client's happiness but ensure that your transactions close! I have seen a lot of transactions close, a lot of transactions cancel and even more often some will stall. I pay attention to the patterns and listen to my clients, my agents, and I can usually tell what is making or breaking their deals!
Let's talk about lenders. The trend right now is Brokers. They offer a larger investment portfolio with options that meet the needs of multiple clients with more flexibility. Sometimes we cannot use the lender we like or trust because of a referral or client selection but you should always have a solid recommendation should their go to lender not be able to pull it off. Staying in contact with a buyer's lender is your first priority. Keeping those lines of communication open will allow you to step in and encourage your clients to seek financing elsewhere or to have them run the loan with multiple lenders. I have recently worked with agents whose lender was failing them and making them look bad. Traits I like to see in a lender is unsolicited loan updates, quick responses, proactive document requests. This is your opportunity to look around and find a lender who is a closer. Ask around to your fellow agents and put the go to closer's name in your pocket. I work with multiple agents so I see who is getting things closed and working miracles so I encourage you to expand your circle. This is not about marketing but results.
How about escrow companies? Do you have a no seller fee escrow company to offer to your sellers who are trying to save a buck? Do you have a flat fee escrow company for those large purchase price transactions to suggest to your clients? These exist and though we have relationships with escrow officers and it's nice to nourish them by directing our clients there, what is it that your client is going to remember when they are referring you to their sphere of influence down the road?
How about Title Officers? I cannot stress this enough, when you have a good relationship with your title officer, not title rep, they can assuredly work miracles with your closings. If you have an escrow officer that you LOVE to work with, please do yourself a favor and reach out to them to find out their favorite Title Officer. I promise you they will have someone that they have a great relationship with and then you get to take advantage of that when you need an exception made to get a transaction closed.
Property inspectors can make or break a deal. I had an agent who was using this great property inspection company. They were top notch and exist from San Diego to Chico. But he had this one property inspector that was presenting the property inspection results to his clients in such a way that his clients were canceling transactions for fear of property condition. I encourage you to find a property inspector that is not only certified but is also a licensed contractor. On top of that you need to have a conversation with them and ask them not to discuss the property inspection with your clients. Some people are alarmist and easily make a big deal out of an easy fix and presentation is everything. I have seen a client walk away from a property because it had termites. EVERY PROPERTY IS GOING TO HAVE TERMITES OVER IT'S LIFE.
Home Warranty Companies. Do you know if your warranty company has service vendors for your area? Do you know if you can purchase supplemental warranty coverage for a failing water heater? Do you know which companies offer limited roof coverage? I think the majority homeowners don't have a lot of faith in home warranty companies but getting your Rep involved and learning how to work this system offers you the opportunity to provide your clients with added value. It's a good thing when your clients reach out to you after you have closed escrow. This is an opportunity to nourish this relationship. Grab it by the horns and make sure they are taken care of through this warranty period.
Property Insurance. When we were purchasing our house we found out that it fell within a fire zone and we had a really hard time finding an insurance carrier that would take us on. We had a really great insurance broker that knew which products to offer us and allowed us to close on our dream home. Do you have an insurance agent to offer to your clients?
Contractors. Do you have a handy-man that can do your little jobs? A termite vendor that consistently will under bid on their 2nd opinions? A termite vendor that will do a free termite inspection? A trusted septic inspector, an foundation engineer for manufactured home foundation certs, a roof contractor, a plumbing contractor, and an electrician? Repairs on a home can be costly and time consuming. Set yourself up for success by having these contacts ready to go!
Did you notice that I didn't drop any names? I could have and I generally do point my clients toward success when they ask for it. I don't get any kickbacks and maybe that is a failing of my own but I'm here to lift you up and help you succeed.
Do you want someone in your corner that wants to see you succeed? Do you wanna stack your team with our knowledge behind it? Reach out to me so we can discuss what kind of value I can offer you!
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