As a real estate agent you are one of the most important business professionals in a client’s life. Why? Because so much of your client’s net worth is tied to their real estate holdings. In other words, your advice is likely to have an impact on both your clients financial security, and their emotional security. That being said, it is critical you provide the best possible advice to your clients. That is what being a Trusted Real Estate Advisor is all about. There are 3 parts to providing your clients with the highest level of service:
- A deep understanding of the client’s personal motivation for buying or selling.
- A deep understanding of local real estate market statistics and trends.
- An evaluation of the impact recent local real estate market trends will have on the personal motivation and needs of the client.
If you think about it in another way, you are like a psychiatrist, financial analyst, and a friend all rolled into one. Being able to analyze a client’s emotional needs is an art. It comes from years of practicing paying close attention to what your buyers and sellers say and now they act. Having a deep understanding of market data and trends is more of a science. It involves researching the most important indicators:
- Economic information
Then, sharing this information with your clients. If a buyer or seller doesn’t have the most important information, they can’t make an informed decision as to:
- What they should buy?
- When they should buy?
- How much they should pay?
Unfortunately, many agents are comfortable looking at recent comparable sales and making recommendations to their clients about the price they should pay or accept. This is not providing a high level of service as this approach doesn’t take into consideration the options a buyer or seller may have per the above questions. The bar has been set relatively low in terms of analytical strengths buyers and sellers are expected to have. This means there is a real opportunity for agents that do analyze market trends to distance themselves from all other agents.
It is also important for agents to educate their prospects and clients, so they demand the much higher level of services that only you will provide. Use the following approach to introduce this concept:
“My intention is to provide a comprehensive analysis of market data to identify trends that will have a direct financial impact on your decision to buy or sell. I believe that the only way you can make an informed decision about real estate is to have the best, most comprehensive information available about local market trends.”