Managing unrealistic expectations is one of the necessary evils in real estate. As an agent, you'll deal with clients and others who want the impossible.
While this can be tricky to manage in a professional way - there are some tips that will help.
Take the High Road
Luckily, or perhaps not, agents can typically see the writing on the wall if someone is going to have unrealistic expectations. If it's a client, the initial conversations to figure out what they're looking for will usually show red flags. Clients tend to have unrealistic expectations when they fall into one of two categories - they're inexperienced or they're sentimental. While these categories won't fit everyone, they're general enough to fit the majority.
Whether looking to buy or sell - if a client hasn't had much secondhand real estate experience or doesn't keep up with current events, it can be surprising to know what home they can get for their money, and vice versa.
If a client is inexperienced or naive, it would help to share with them the comps of the area. Let clients see for themselves what homes are listing for, selling for, and the number of offers they are receiving. An in depth overview of the comparables can be an agent's best friend when managing expectations.
Another great way to get in front of expectations is to show clients multiple homes in multiple areas to ensure they keep their options open.
Particularly with sellers, sentimentality can really get in the way. While they can't be blamed; a home does hold a lifetime of memories and milestones - being sentimental about a home that's being sold almost always brings unrealistic expectations. Whether it's the pricing or the decor - something typically has "to give". A home displaying older paint colors and tons of knick-knacks tends to need revamping before going on the market. Depending on the condition, it also might not sell for what the owner's think it's worth.
Be Unsurprised
Taking the high road and being as prepared as possible are great ways to handle things beforehand. During transactions, emotions are at an all time high and both clients and other professionals can throw you for a loop. Maybe a lender is being unrealistic; or the opposing agent (seller's agent if you're the buyer's agent, etc.) is "difficult".
The best way to keep smooth sailing here is to maintain integrity and a sense of humor. The art of being unsurprised can really help an agent in times of stress. If a client is difficult and you know it - expect that, do as much damage control on the front end as possible - and then let it go. Your job is an agent is to serve your clients as best as you can, but it doesn't mean that you can do the impossible.
Realistic expectations of others and yourself is the best way to deal with anything unrealistic.
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