Being a real estate agent is not always about winning. Sometimes you’ll face failure. For instance, losing a deal when the other party retracts from the contract and leaves you hanging. That’s the time when you’re being tested and the time many fear to face.
Failure is inevitable. So you can’t run from it. The only thing you could do is prepare yourself for the worst and wisely tackle the situation. That’s where the purpose of this post comes in.
We have thoughtfully created this post to help you break the bad news to your real estate clients when you lose in a deal. So without further ado, let’s guide you on ways to tackle delivering bad news.
How to avoid breaking hearts when delivering bad news to real estate clients?
Face your fear first.
For a realtor, breaking bad news could mean losing a client. That could be your fear. But it doesn’t mean you shouldn’t disclose the news. That would put you in a terrible position. You don’t want to go there. Instead, you now have to embrace this situation and prepare your case in your client’s best interest.
Advising to tackle a situation like that, Josh Steimle said to face your fear, you first need to understand it. Fear is nothing but a tool inherently used “to make better decisions.”
So when you lose a contract, don’t break the news just like that. You take time, prepare your statement, and then share it with your client. It would still break their heart but might save your terms with them.
Note: By “taking time,” I don’t mean taking days. Be swift and smart in preparing your case.
Always stay calm.
Sometimes failure is not a big deal, but panicking could make it. Put yourself together and stay calm while delivering the news.
Don’t take it too long to break the news.
Why would you delay it? The only reason for that could be your fear. Once you have faced your fear, think fast and share the news as soon as possible. Remember, time is money. If you lose one contract, it isn’t the end of the world. You could still score a better deal and keep it running with your client.
Be the client champion.
Being a customer services champion is not new. We all know the better your customer services are, the happier your clients would be. So if you’ve been delivering top-notch services to your clients, your clients would stay with you, even when you lose a contract – don’t lose it on purpose.
Avoid using phrases like “bad news.”
It’s already a bad situation. Don’t make it worse by using phrases like “I have bad news.” Such phrases would trigger the client in a defensive mode. To positively and calmly address the situation, think of phrases like “We have a challenge to overcome.” Did you feel aggressive about that statement? Probably not. Your client would also stay calm and start thinking to tackle the challenge.
Don’t be a drama king or queen.
When you lose something, people often say, “I can understand your pain.” How could anyone feel your pain? Similar is the case when your client loses their dream house or some critical deal.
Avoid using phrases like the one above. You can be empathetic but cannot feel what others feel.
Keep it simple – stay honest and direct. There’s a reason you lost that contract. I am assuming you aren’t the one. So, find out the cause and tell it to your client; no cover story.
Put yourself together and move forward.
You’re now an expert in dealing with a challenging point. It’s now time to come up with solutions.
Before you tell your client about the deal, share alternatives with your client. So, if you’re hunting for a dream house for your client, get more options for them before you leak the information. Or, if you’re helping them sell their house, find them new buyers or practical ways to minimize the listing period.
Everyone loves to brag about problems, very few come with valuable solutions.
Politely tell your client if they’re the deal breaker.
Sometimes you know that your client would be the deal-breaker for their unrealistic approach. You try telling them before the contract comes to an end, but they pay no heed. And when the deal is shattered, you might want to mock them. Don’t go there!
Being in the real estate business is no piece of cake. You have to listen and follow according to your client. Sometimes even when you know, they’re wrong.
So when you’re in a situation like that, try convincing them politely. Say, if the client is selling and the rejection was due to poor house maintenance, suggest fixing problems before selling the house. Or, if they’re buying, they might want to raise their offer.
Reassure them that you’re committed.
With all these efforts, I’m pretty sure your client would already be in love with your service. So, it gets to the point where you end the discussion and reassure them that you’re committed to them and go beyond helping them. If you didn’t already have alternatives for them, tell them that you would now get back to work and would find a solution to the problem.
Author Bio – Jessica Watson
Jessica is the leading content writer for Condo Point – a marketplace for condos for sale in Milton and other cities. She writes on home improvement, real estate trends, and tips for buyers and sellers alongside other topics. In her free time, she loves watching movies and spending time with family.