Question:
Do you want me to send a copy of every contract that is executed? I have had quite a few that terminated during the option period and am not sure if I need to send them all to you. I am almost reluctant to send them all, it seems to be too much paperwork. Also, what is the best thing to include in the subject line to make it easier for you to identify? I have no idea what your procedure is for handling all these once they are received.
Answer:
Yes, please, email or fax us a copy of all contracts that are executed. Even if the contracts end up being terminated during the option period, we still need them in our files in case anything comes up later. Our requirements is to have all contracts in the office files within 7 days of contract execution.
In the subject line of your email, I suggest you enter: “Executed Contract – 123 Main St. – Agent Angie Franks”. When we receive these documents, I review them for completeness and accuracy, and our Office Manager files a copy in our online records.
One of the most important things we can do anytime we begin a client-agent relationship is to take the time to identify the expectations that our clients have for us and for the service we will provide to them. This is true in any type of transaction or function, whether we are representing sellers, landlords, buyers, or tenants, commercial or residential. It doesn’t matter what our level of expertise may be or how successful we might have been in the past with a similar type of client and/or transaction. We simply cannot assume that on the very next instance the expectations are going to be the same.
For example, imagine that you are eagerly looking forward to your initial meeting with a listing referral. You prepare your listing presentation after doing your homework estimating the property’s value and have a suggested listing price ready to discuss with the owners. You meet, the presentation is a smashing success and so you get the listing. A short 5 days after going through the motions of uploading it to MLS, taking photos, etc. your clients call you, and you immediately sense that they are upset.
What’s the matter??? Everything was “peachy” just a few days ago, you listed the house immediately at the requested price, the professional photographer did an outstanding job with the photos…what could possibly have them upset?
“Well, Mr. Agent, why haven’t you called us with any news? Five days have gone by and we haven’t heard from you! We thought you would stay in touch with us frequently. Is the house listed already? Has there been any interest from anyone? Are there any showings scheduled at this time? You certainly don’t expect us to call and ask you for this information every couple of days, or do you?”
This is a classic example of people being upset as a result of failure to discuss expectations. You typically email your listing clients on Sundays giving them a summary of activities with their property, and your last three listing clients seemed happy with that system. So, you assumed that these new clients would be the same. But the truth is that they simply hate email and would much rather get a phone call from you, in the evenings, every other day. You wonder why they didn’t mention that during the listing presentation, because truth be told, you would never agree to have to call them that often! Still, you ultimately recognize that everyone is different and in the end, they are your clients.
What do you do now? Well, whether you end up making them happy by agreeing to call them every other day or if you lose the listing because you refuse, that doesn’t really matter for the purposes of this post. What matters is for you to be aware that with each and every client, BEFORE you have dedicated any significant amount of time and money, you must ask the question, “What are your expectations of me and of my services?“ Further, you can expand, “What is your preferred method of communication?”, “Do you prefer that I call you on your cell phone, home phone, or work phone?” , “On what days and what times can I call you?”, “I prefer to communicate through email, is that ok with you?”, “How often should I email you with updates, and what things would you like me to include?”, “Can you describe for me your idea of “outstanding service from a real estate agent?”. These and many other probing questions can be asked to get your clients to open up and clearly communicate their expectations of you. The sky’s the limit in terms of the amount of questions you ask. As a matter of fact, most clients will appreciate you taking the time to learning about them and listening to their ideas and expectations—they will feel that you truly value them for who they are as individuals and not like “just another client”.
Realize that by going through this process you may conclude that you do not want to work with these clients or that you simply cannot meet their expectations. It may be that they expect you to show them properties at times that you are either completely tied up with another commitment that you can’t or don’t want to break. And although deep down you want and/or need their business, the truth is that you (and your clients) are better off if you, recognizing the mismatch, either refer them to someone else or politely decline to represent them for those reasons.
Setting clear expectations will not guarantee stress-free transactions and/or misunderstandings between you and your clients, but doing so will certainly increase the possibilities of you having happier, satisfied clients at the end of each transaction. Happier, satisfied clients bring referrals and repeat business, and if you have that, well, you’ve got half the battle won.
For example, imagine that you are eagerly looking forward to your initial meeting with a listing referral. You prepare your listing presentation after doing your homework estimating the property’s value and have a suggested listing price ready to discuss with the owners. You meet, the presentation is a smashing success and so you get the listing. A short 5 days after going through the motions of uploading it to MLS, taking photos, etc. your clients call you, and you immediately sense that they are upset.
What’s the matter??? Everything was “peachy” just a few days ago, you listed the house immediately at the requested price, the professional photographer did an outstanding job with the photos…what could possibly have them upset?
“Well, Mr. Agent, why haven’t you called us with any news? Five days have gone by and we haven’t heard from you! We thought you would stay in touch with us frequently. Is the house listed already? Has there been any interest from anyone? Are there any showings scheduled at this time? You certainly don’t expect us to call and ask you for this information every couple of days, or do you?”
This is a classic example of people being upset as a result of failure to discuss expectations. You typically email your listing clients on Sundays giving them a summary of activities with their property, and your last three listing clients seemed happy with that system. So, you assumed that these new clients would be the same. But the truth is that they simply hate email and would much rather get a phone call from you, in the evenings, every other day. You wonder why they didn’t mention that during the listing presentation, because truth be told, you would never agree to have to call them that often! Still, you ultimately recognize that everyone is different and in the end, they are your clients.
What do you do now? Well, whether you end up making them happy by agreeing to call them every other day or if you lose the listing because you refuse, that doesn’t really matter for the purposes of this post. What matters is for you to be aware that with each and every client, BEFORE you have dedicated any significant amount of time and money, you must ask the question, “What are your expectations of me and of my services?“ Further, you can expand, “What is your preferred method of communication?”, “Do you prefer that I call you on your cell phone, home phone, or work phone?” , “On what days and what times can I call you?”, “I prefer to communicate through email, is that ok with you?”, “How often should I email you with updates, and what things would you like me to include?”, “Can you describe for me your idea of “outstanding service from a real estate agent?”. These and many other probing questions can be asked to get your clients to open up and clearly communicate their expectations of you. The sky’s the limit in terms of the amount of questions you ask. As a matter of fact, most clients will appreciate you taking the time to learning about them and listening to their ideas and expectations—they will feel that you truly value them for who they are as individuals and not like “just another client”.
Realize that by going through this process you may conclude that you do not want to work with these clients or that you simply cannot meet their expectations. It may be that they expect you to show them properties at times that you are either completely tied up with another commitment that you can’t or don’t want to break. And although deep down you want and/or need their business, the truth is that you (and your clients) are better off if you, recognizing the mismatch, either refer them to someone else or politely decline to represent them for those reasons.
Setting clear expectations will not guarantee stress-free transactions and/or misunderstandings between you and your clients, but doing so will certainly increase the possibilities of you having happier, satisfied clients at the end of each transaction. Happier, satisfied clients bring referrals and repeat business, and if you have that, well, you’ve got half the battle won.
