The Greatest Tip I Can Share On How To Keep Your Vendors Happy

On our way back from our recent trip to England, something occurred to me that happens everyday in a REALTORS® life.  While we were taxiing to our take off position in line, the Pilot mentioned on the speaker that we were waiting in line, and that it shouldn’t be more than 10 minutes until take off.

As I listened to this message I was put at ease from my anxiety of flying knowing, we would soon be on our way.  As I glanced at my watch about 12 minutes later I noticed we still hadn’t moved at all. Now as minute after minute ticked by, I felt my anxiety climbing. First 10 minutes, then 20 minutes and still no update!

60 minutes later we finally took off and I’m left with a sour taste in my mouth about our pilot and his professionalism.  Was it so hard to just give a new update every 10 minutes?  With each new update,  I would have known there was nothing the Pilot could do about our situation, but at least they were letting us know how long it was going to be.  At least he was being professional!

Well this didn’t happen and I was left anxious and annoyed.

I still see the same thing is happening to a lot of REALTORS® out there in the Real Estate World.

Many times an agent will take a listing and not bother updating their client on what’s been happening.  Unless there is an offer coming in on the home, the Agent may feel there is no reason for contacting the client.

But if you think back to what was happening on the plane ride home, I was getting anxious not being informed of what was going on with our flight back.  I was left in the dark.

Well often times that is exactly how our client may be feeling.  They haven’t been hearing from us regularly and are wondering what we have been doing to sell their home.  It get’s even worse if we are getting very few showing or none at all.

The Clients start to think, What did we hire this agent for?

The key to keeping our clients happy, is setting the expectations up front.  Setting a time each week that they can expect an update on their home sale progress.  By setting this seller expectation, the Vendor can rest assured that you will be contacting them regularly about their home sale at a specific time each week.

We should be letting them know about the following every week…

How many calls came in regarding the property.  What happened when the Agent followed it up.  How many hits to your website inquiring about the home?  How many overall inquiries about the home.

How many showings this week.  How many Second showings were there.  What was the feedback was from each showing letting the client know what they liked, and more importantly what they didn’t like.

Obviously if something keeps coming up in the feedback after each showing that would be easy to remedy, then the Agent should be letting the Client know.  Perhaps a certain room has a bad paint colour that many Buyers don’t like.  Maybe a room is too dark. Or there is older carpet that seems to bother many Buyers.  You can use this time to let your clients know that in order to attract an offer we may have to remedy that problem.

Progress on the marketing plan for that week.  I.e. how many emails went out to potential Buyers, how many hits to the website.  When is the open house scheduled.  Did any flyers go out.  Is there an Ad in the paper this week etc.

If you set a time each week that the Vendor can expect their weekly call with an update, this will ensure that your clients feel like they are being kept in the loop.  Even if you call and leave a message, at least you have given an update which shows that you are doing everything you can to get their home sold.

If they client continually get’s their call each week, they will feel like you are doing your best for your client.  Even if you have a bad week and get no phone calls, no showings and nothing really happens.  At least your clients will feel like you are professional and are doing a good job keeping them up to date.

It is after all, likely, the largest asset they have to sell.  If they feel you did a good job and were professional with them, they are likely to want to Refer you to their friends and family.

If they feel like you didn’t care about them and are only in it for the commission, you will likely never hear from them again.

This simple technique can separate you from most agents that are too busy to keep their clients informed.

Keep in mind, having feedback like this every week will make it easier if you need to ask for a price reduction.  Your Vendor will hopefully realize that you are doing all you can on the marketing side but there are still no offers.  Maybe they should reduce their price a little to hopefully attract a good offer.

So take a minute and tell me what your favourite strategies are for keeping your Vendors up to date each week?  Do you use a weekly phone call or email or something else?  How do you keep your clients up to date when you are busy working at selling their home?

Please share this post below.

Thanks for stopping by, I really appreciate it.

Marty Green

 

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