Do you remember the value of educating clients from this article? An educated client is worth 8 to 10 times more than an UN-educated client.
Today, many buyers are considering buying short sale properties but they are “UN-educated” and often UN-realistic about the time frame and details involved.
Agent Nancy Biel Stewart uses a unique tool to educate buyers of short sale properties. Using a simple “short sale booklet” she gives her buyers an overview of the process and sets their expectations up front. This helps her diffuse their frustrations with the process AND is a powerful way to communicate her knowledge and value to clients.
Here’s Nancy’s description (and sample below)…“Selling real estate today can be challenging in many ways. Many of our listings are in short sale situations. I represent buyers most of the time, so I have taken several classes on short sales to better help them. I use the handouts from these classes, combined information from my experiences and created booklets to give my clients who are considering the purchase of a short sale property. One key to selling these homes is managing your client’s expectations. I let them know up front that they may not get an answer from the banks on their offer for months and that other buyers may submit competing offers even after the seller has signed the initial offer. My booklet explains the process from both the seller and buyer side so my clients know what they are getting into! If they proceed and become discouraged or anxious, I just refer them back to the book and calm their anxiety. Most read the booklet thoroughly and have a better understanding that all parties involved are under much stress and patience is the key to a successful closing.”
You can click on the image to see a sample booklet as a pdf: