RISMedia's Real Estate Magazine

SEP 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

Issue link: http://remag.rismedia.com/i/1017650

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Page 80 of 134

76 September 2018 RISMedia's REAL ESTATE {Power Teams} Do You Know Who You're Competing Against? by Tamera Phallan D o you know who you're competing against, and do you know how you stack up against them? If not, you should! Knowing yourself and your strengths is the foundation for creating the experience you want to provide your clients with. The client ex- perience is what will have people seeking you out to do business with for years to come. If you're looking to up the ante when it comes to the client experi- ence, you must first set expecta- tions. While this sounds simple, it's important to take the time to set expectations with each and every client. Talk about the mar- ket, the lending environment, the paperwork you'll need from them, the best time to see what's on the market, and what to look for. Setting expectations with cli- ents also involves explaining how you do business and establishing the way in which you both want to communicate, as well as preparing for what's around the corner. This conversation is key, because when making the decision to purchase a home—which is of- ten the largest investment people will make in their lifetime—their nerves will be running high. The more you can prepare the client for upfront, the faster you can all respond to situations, which will go a long way toward getting your client to their end goal. In the end, better preparation will equate to a happier client experience. So what does this have to do with the competition? By institut- ing this process, you're setting the bar high for other real estate professionals who may come in behind you and simply pitch a strategy that involves setting up an MLS search. Once expectations have been established, it's important to keep the lines of communication open throughout the process. The key to communication is to tell some- one what you're going to tell them, then tell them, then tell them that you told them. By regularly com- municating with your clients, up- dating them on the process and reminding them about what's com- ing next, you'll get ahead of any surprises. Also remember that when you do experience a surprise—espe- cially the bad kind—the key is how you handle the situation. If you're completely thrown off, your client will react the same way; therefore, remember to keep your cool, and they will, too. Providing an exceptional client experience doesn't end once the transaction is complete. In fact, with a little forward-thinking, you can raise the bar even higher by taking photos throughout the pro- cess and gifting them to your cli- ent at the closing, or even after. If your request for review is accom- panied by a video complete with photos of them looking at homes, meeting with you and images from their closing, you'll remind them of all you've done for them without bragging about yourself or tearing anyone else down in the process. Know your strengths, use them to improve your client's experience and you'll out-leverage your com- petition. With almost 25 years in corporate training and support, Tamera Phallan—a real estate professional with Team Parodi at Realty Associates—has been helping agents grow their business in the financial services and real estate markets locally and nationally. Her passion for sharing information, techniques and the success of her clients keeps her motivated to do more and continue to grow. Phallan recently joined Workman Success Systems as a team coach. Contact her at tamera@ teamparodi.com. For more information, please visit www.workmansuccesssystems.com.

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