Red flags could include a customer’s unrealistic expectations, time-consuming and excessive demands, disrespect or even lack of proper communication.
SAN FRANCISCO – Real estate professionals should watch for red flags that may warrant dismissing a client. These red flags could include unrealistic expectations, time-consuming and excessive demands, disrespect or lack of proper communication.
Before letting a client go, however, agents should review their contract, which typically has built-in clauses that allow either party to terminate the agreement, also known as an “opt-out clause.”
If agents are contractually bound to their client, it might be worthwhile to have an honest discussion and set boundaries, rather than ending the relationship suddenly or letting the contract run its course and not renewing. Otherwise, the client might attempt to retaliate for violating the agreement.
As a last resort, agents could raise their rates to a level they think the client can’t afford. In some instances, the client isn’t the problem, but rather something like their property or credit score. For instance, a home is in bad condition, but the client is unwilling to make repairs to get it ready for market. In this case, the agent can tell the client he or she should be able to work with a cash buyer, who could offer as little as 50% below fair market price. In a case like this, the client could decide not to move forward.
If a client decides to criticize the agent after severing ties, the agent can highlight reviews, testimonials and social media to new clients to demonstrate their merit. Real estate agents who are good at their jobs should not be affected by one troublesome client.
Source: Inman (08/10/21) Babich, Luke
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