Getting Honest With Your Clients
With the real estate market heating up over the last year, multiple offers have become common place again.
Multiple offers can be scary for Buyers and frustrating for agents. However, I find that a lot of this stems from agents not being truly honest with their clients.
Case in point, the pre approval letter. Not all letters are created equal. A Buyer client of mine recently got pre approved for a mortgage and the letter the lender wrote stated that the approval was subject to verification of income and assets. This is NOT an approval letter. It’s a generic letter that the lender issues, which shows they have not done any due diligence and it does not instill confidence in the Seller or Listing Agent.
The question is, what do you do as a Buyer’s agent in this scenario? Do you not say anything because you don’t want to offend your client or do you get honest?
I opted to get honest with my client and let her know that the letter would hamper her ability to be successful in a multiple offer situation. She was willing to switch to a stronger lender and was successful in her multiple offer bid, largely due to the new lender.
The next week I had the same scenario as a listing agent. The Buyer submitted a similar letter and when I called the lender for verification of approval they never called me back. We went with another Buyer. My heart went out to the first Buyer. I have no doubt they are great and truly want to purchase a home, but their agent not being honest with them is hurting their ability to be successful.
There are often times in our business where it can be uncomfortable or awkward to tell our clients the truth. That is what they pay us for. If you help them understand the impact a decision can have on the outcome they will understand and respect you for it. Their job is to make the final decision, but it is up to us to give them what they need to be fully informed.
Signup to receive Nicole's blog posts via email weekly:
Other Posts
Why Proving Yourself Is A Bad Idea
I competed on a listing this week that I didn’t get. It was a great one too – awesome house, great clients. It was one I really wanted. When I got done pouting I took a few minutes to ask myself, ‘where did it go wrong’? Our first appointment was amazing! The second one, not…
Read More
The Secret To Success: How Awareness Transforms Everything
‘The first step towards change is awareness. The second step is acceptance. Let us not look back in anger, nor forward in fear, but around in awareness.’ – Source Unknown Last week focused on letting go of the need to play catch up. The only thing that matters is focusing on the present moment. The…
Read More
Don’t Try To Catch Up – Just Start Where You Are
I’ve spent the last few days in Virginia at my favorite real estate conference, Genuine Hustle, where I had the honor of presenting a session on asking powerful questions. It’s the most authentic, vulnerable, supportive and all around amazing group of agents that I’ve ever spent time with. They haven’t released the location or dates…
Read More
This Phone Call Brings In The Most Referrals
Can calls really translate into referrals? Are some more effective than others? When we work with clients it’s easy to go into ‘get it done’ mode. We focus on getting from contract to closing as quickly and smoothly as possible. And to be fair, that’s a big part of what our clients hire us to…
Read More
What if EVERYTHING is Working Out For You?
What happens when you have a ‘set back’ ? Does it send you into a tail spin of fear and insecurity? Do you brush it off and move on? Or – Do you view it as confirmation that you ARE on the right path, realize it wasn’t the right opportunity or situation for you, and…
Read More
Don’t Do This Alone
I was lucky enough to be invited to mastermind with these amazing agents for a few days this week. We talked business, but it was so much more than that. We talked about being intentional with our lives, the hours we worked, the struggles we face, our investment strategies (owning rental real estate of one…
Read More
Collaboration Over Competition, This Is Your Chance To Learn From The Best
What if you could stop over thinking how to run your business? What if you knew exactly what other agents do to attract clients? This is your chance! Season 2 of Secrets of Attracting Clients starts January 27th and I’m super excited for this years line up! We have 12 amazing sessions, all with ideas…
Read More
How Lowering Your Bar Can Help You Reach Your Goals
January holds a special mix of big dreams and deep insecurity for a lot of agents. If you find yourself toggling between the two – know that you’re not alone. We usually associate big dreams with big actions. So we make long to do lists as proof of our commitment to increasing our income. Often…
Read More
Success Secret: Do Less of What You Like and More of What You Love
This post was inspired by my good friend Valerie Garcia. She shared this note in her newsletter this week: Love by Jon Acuff Want a simle goal you can accomplish in 2025? Do less of what you like and more of what you love. I like watching Netflix. I love holding a book I’ve written…
Read More
Is How You’re Working Really Working For You?
Welcome to 2025! I love New Years Day – the feeling of a fresh slate, a world of possibilities available with 365 beautiful days ahead to create magic. As we embark on a new year, set goals and make plans here’s one question that’s worthy of pondering: Is how your working really working for you?…
Read More