Technology isn’t replacing agents, but it will change the value they bring to clients. In fact, as new home buyers and sellers seek to streamline the real estate process, 93% of people foresee their relationship with agents changing due to the impact of technology.
This means agents who learn to take advantage of new digital tools and services can ultimately bring more expertise to their clients, but only if a standard of trust is established. Here’s how agents can build trust with their clients to cultivate lasting relationships.
Understand and present all options
With the technology available today, homebuyers and sellers can do a lot on their own, but with so much information at their fingertips, an agent’s guidance is even more valuable. When they do come to you, you have the opportunity to help them sort through all their options, thereby demonstrating the depth of your knowledge and skills. This means staying informed about new services and products available to customers, including seller-specific solutions, and giving them more options than they think they need because their priorities may change.
Withholding information is sure to breed distrust. People want to know that their agent is looking out for their best interests and isn’t just trying to get the deal done. To prove that you’re a trusted advisor, you need to present all options to your customers throughout the buying or selling process, even off-the-shelf solutions or ones you wouldn’t normally recommend. This way, your clients will see you as the ultimate source of truth from the start.
Provide cost transparency
Would you trust someone who hides fees or misleads about the cost of something? Probably not, especially if you’re dealing with one of the largest financial transactions of your life. For agents, being proactive and explaining all fees upfront will help clients make the best decisions and avoid surprises. Whether it’s reviewing your own commissions or explaining vendor fees or the hidden costs involved in relocation, helping your clients understand where their money is going and why is an effective way to build trust.
Keep in mind that people may not recognize or understand the value of many services during the buying or selling process. For example, they may not see the point in furnishing their home or spending money on marketing materials. However, this is an opportunity to demonstrate your value and help your clients understand who gets paid and who gets paid. Remember, you never want your last interaction with a customer to be a surprise with a new fee or extra that they didn’t expect.
Be an effective communicator
No one wants to be “ghosted” and certainly doesn’t want to be “tricked” by their agent, but they also don’t want to be inundated with information. With so many channels of communication available, striking the right balance between being supportive and being reliable but not obnoxious is a great way to demonstrate your reliability and trustworthiness. Early in the relationship, find out how and when your customer prefers to communicate, and then handle it accordingly. Via a check-in text message, follow-up email, or simply letting customers know you’re available to take calls, you establish a two-way channel – in turn, customers know they can contact you for guidance.
To learn more about the evolution of real estate relationships, visit open the door.
