Real Estate Clients are Like Goldilocks
Clients are like Goldilocks eating porridge in the bear’s cabin. Some will come to you too hot and others too cold.
And no, we’re not talking about leads — we’re talking about clients who know too much or not enough about the buying or selling process.
Information asymmetry (when the seller knows more than their clients) runs rampant in the real estate industry. While that’s slowly starting to change, another problem is emerging: a rise in generalized or false information online about how the process works.
We’ve found that there are two main types of buyers today:
- Clients who know little to nothing
- Clients who think they know everything
You have to be the guide that Goldilocks never had: the one who leads them to information that’s “juuuuust right.” That includes everything from the appropriate price for a property to accurate housing trends and facts. Here’s how you can help communicate the process to these two very different types of clients.
Educating Novice Buyers
Many people don’t have the time to research everything to know about buying or selling a property. So they seek out an agent to teach them the process and help them through it. In this scenario, you need to educate the client. Since more trust is put in you as the expert, you can build a workflow that educates the client step by step through the process.
Guiding Buyers Who Know “Too Much”
From Zestimates to Bankrate and Bigger Pockets, today’s buyers have access to so much more information — and not all of it is accurate. Parse out what the client has already found online, and educate them on why the information does or doesn’t fit their situation. You can do this by giving them all of the latest accurate information, or creating a how-to guide on the buying or selling process.
Information That’s “Juuuust Right”
Like Goldilocks, your clients need to feel like they have the right balance of information to continue along the real estate journey. So whether your clients have too much or not enough info, by having current, relevant industry facts, you can successfully guide them with information that’s “just right.”
Become the guide to your clients. There’s a lot of information to know in the real estate industry. Your job is to curate it in the right way to make your clients feel less stressed and more knowledgeable when they finish their transactions.