There are a lot of factors that can negatively impact the success of a real estate transaction. A lot of real estate agents are guilty of making some easily avoidable mistakes that can often ruin a perfectly good real estate deal. Have you ever committed a deal killing mistake?
Here are 4 real estate deal killers:
Tunnel vision
As a real estate agent, it can be easy to have a one track mind. “Closing this real estate deal” is always something in the back of your mind, or should be. While closing the deal is your end goal, you also have to make sure that your tunnel vision doesn't prevent you from listening to the questions, comments, and concerns of your client. Your job is to not only close the deal, but to make sure that your clients are happy and have a great experience through a very difficult process. Don’t let your tunnel vision derail your next deal.
Poor communication
Communication is the foundation of everything we do. As real estate agents you are required to communicate with clients as well as other real estate professionals in order to close the deal. Real estate transactions are never a one person job. If you can’t communicate well with your clients, or the other people involved in the process, there is a good chance that your deal will fall through. It is vital that you are able to communicate everyone’s needs and deadlines to successfully get your transaction to close.
Rushing
Don’t rush your real estate transactions. There is nothing worse than an overzealous real estate agent who’s only focus is closing the deal. You need to make sure that your clients have made the best decision for them, not for you. If your clients are selling, accepting can lead to settling for an offer when a better one is on the way. If your clients are looking to buy, there is a good chance rushing can lead to either over-offering, or become vulnerable to a bidding war. Your clients are going to have to live with the decisions they make with you for the rest of their lives, which is a decision that should not be taken lightly.
Overstepping
Real estate agents are intended to provide clients with the information and support they need in order to help them make the best decision they can. It is not the agent’s job to make decisions for the client, and doing so can be a costly mistake. Don’t ruin a deal because you overstep your boundaries.
Not all of your deals are going to be successful, and there are a lot of factors you cannot control. What you can control is avoiding these four costly mistakes so that you aren’t the deal killer in your transaction.
