You, the real estate professional, are the first point of contact for members of the public about to make one of the biggest decisions of their lives – buying or selling a home. Having exceptional people skills is vital because conducting yourself in a professional manner will lead to referrals and repeat customers, the best type of marketing that exists.
What does it mean to have ‘exceptional’ people skills? It means following the golden rule, broadly defined as treating others as you want to be treated. In this overarching rule exist the principles of fairness, honesty, and integrity (or Section 3 of the Code of Ethics, O.Reg. 580/05). It means complying with the obligations, such as the duties of care owed to clients and customers as set out in legislation.
The duties of care owed to each are different; the duty of care owed to clients is greater than the duty of care owed to customers. But, both share two general obligations you must provide – honesty, and exercising care and skill.
In addition, you must and should:
• Explain the different types of services available
• Explain the difference between client and customer status
• Disclose, in writing, the nature of the services being provided, including the possibility of multiple representation
• Have the potential client sign the appropriate form showing you have explained the different relationships before asking them to decide (e.g., Working With a REALTOR® brochure)
• Have a written representation agreement with prospective buyers or sellers, and explaining the imposed obligations placed on yourself and your client
• Provide seller clients with well-researched and documented competitive market analyses
• Advise seller clients of the need for repairs/improvements to make their homes more saleable
• Advise buyer clients to get pre-qualified for financing and showing homes that are within their financial range
• Refer clients to outside experts when needed
• Arrange for a substitute to cover when unavailable
The following constitutes what you should not and must not do:
• Give advice outside your area(s) of experience
• Overstate property values to obtain a listing
• Make oral promises or agreements you are not willing to fulfil binding
• Persuade or tell clients what to do
• Make decisions on clients’ behalf
• Advise buyer clients to submit offers without any conditions (i.e., financing and home inspection)
• Disclose client information
For More Information
More information in A Mentoring Kit for New Salespeople: Training for Success –http://bit.ly/1pIJHHG.