Homes should be repainted so that only neutrals colors are used before selling.

This myth causes more home owners and realtors to change a look that could be not only acceptable but an advantage. Some rooms look better in a bolder or gentler color than something neutral. Instead of changing the room color, you can have other color options available for people to look at. Having a bid for repainting can also make it easier for potential buyers to feel they have options and know the cost beforehand.

Remodeling projects will pay off when the home sells.

Many people expect to get their money back when it comes time to sell their home. The important thing to know is that remodeling projects are just as likely to end up being a loss as a gain. If you or your client are going to be remodeling, make sure that you don’t do it just to sell the home. When you remodel, make sure that you have time to enjoy the rewards. It is recommended that a home be up-to-date before you put it on the market, but if updates haven’t been made already, it won’t be worth it just to sell the place.

Set a price that is higher than what you want to get so that there is room to haggle.

This real estate myth is one that most people accept as true, but there are a few things you have to consider when pricing a home. If you list the house at too high a price, people will not be interested in looking at it. The longer your house is on the market also lowers the number of viewers will get because your home will be seen as less desirable, even after you drop the price. If you live in a major city or area where housing is in demand, people tend to ask for less than what they expect to get knowing that they will get multiple bids, resulting in a higher final bid.

Going green will mean that you automatically get a higher list price.

This can be true, but you have to be really careful about how much more you ask for in relation to comparable homes. If you expect people to pay too much of a difference, they are more likely to go with a comparable home and do their own conversions if they really want an environmentally-friendly home.

Don’t have holiday decorations up when the house goes on the market.

This one might be true if it is summer, but at the end or beginning of a year, decoration that is well done can be a draw. While there may be some who object to Christmas decorations just on principal (whether religious or simple erring belief in this myth), there are many more who will feel that it makes the home cozier. It helps to give them an idea of what it will look like when it is their home.

If you have any other real estate myths you would like to ask about, or if you have any questions about our commission advance process, you can contact Premier Commission today.

Be upfront about everything

You will have to deliver both good news and bad news to clients. Both should be delivered in the same fashion: direct and thorough. This is because people want to know the facts; sugar coating things won’t lessen the blow. It will simply serve to agitate and confuse people. This, in turn, diminishes your relationship with a client. Instead, develop a reputation as a “straight shooter” who gets news to clients immediately.

Don’t assume that they know what you do

People don’t like it when they don’t understand something. Even worse, they could start disliking you if they feel as though you’re intentionally talking over their heads. A such, it is critical that you learn how to break down terminology, facts and anything else that is exclusive to the real estate industry into basic layman’s terms. The better you can do this, the more comfortable your clients will feel working with you.

Understand that real estate is not “just business” for many people

When you are trying to broker a home buying or selling deal, you will be working with someone’s current or future home. This is a very personal experience for that client, because they have developed or will develop a very intimate connection with that piece of property. Also keep in mind that real estate deals are often brokered under emotional circumstances (estate stales after a death in the family, sales/deed transfers after a divorce, etc.) You need to be prepared for this, and possibly go beyond the facts and figures of the deal to properly accommodate your client’s unique needs.

Show your clients that the wheels are always turning in your head

If you have a good idea, shoot it to your client. This is an outstanding way to not only show that you are always coming up with better ways to do business, but also that you kept them in mind. This could be anything ranging from thinking of new ways to stage a home to alternative ways to find that dream home.

Listen more than you talk

You are the real estate expert. Your clients are coming to you for that expertise. These facts, however, do not give you a license to tell a client about everything that they need to do before you even understand all of his or her needs. Enhance your client relationship and your ability to do your job by carefully listening to what your client has to say about what they want and how they would like to achieve those goals. This “listen and respond” approach gives you an opportunity to look like an even bigger expert, because you can now make every solution that you offer tailor made for your client.

Be flexible

When thinking of how to build relationships with clients, it is critical to remember that it’s not about what you want. It’s all about them. As such, you may have to give up on a specific approach if a client simply doesn’t like it, no matter how much business sense it makes. Being overly pushy will cause a client to feel uncomfortable working with you.

What are your client relationships like?

You should be constantly nurturing client relationships to enhance your success in the real estate business. To learn more about how to build relationships with clients in real estate, stay tuned to our blog.