Working With A Client Who Wants Out Of Their Real Estate Contract- EP 171

On this episode of the Real Estate Fight Club Podcast, Jenn and Monica duke it over what to do when your client’s have buyer’s remorse. Are there ways that you can help prevent buyer’s remorse? What should real estate agents be doing to give buyers a realistic picture of commitments and also always express that they are supported? Tune in.

 

Episode Highlights:

• Jenn says step number one to avoid buyer’s remorse is to not work with buyers. Monica says that is a fantasy non-reality.
• How can buyer’s remorse be preventable?
• Are you doing buyer’s consultations? Monica explains what to discuss- the steps that you take them through to ensure what their desired outcome is. She says so many agents are not doing this and it is hurting them and hurting their buyers.
• What is a pop tart agent? You need to set expectations.
• Monica and Jenn discuss what they would say during the buyer’s consultation to address buyer’s remorse.If you go to https://jennifermurtland.com/Vault/, you can get a buyer’s agreement that you can edit to fit your needs.
• Jenn advises, “Sell more, don’t freak out.” 
• People only move because of something else emotional that is going on. Jenn says they could just be freaking out in general, not really having buyer’s remorse.
• What if you ask your buyer’s together where they are on the scale of terrified and don’t want to buy the house so excited and can’t wait to own a new house. Monica says the answers to that are so key and protect your buyers from getting in a situation that costs them money and not their desired outcome.
• You can’t put your own need for cash into the emotional ride of buyers.
• How far do you push? How many questions do you ask and how do you consult when someone calls and says it was a big mistake and they want out?
• What about attorneys? Jenn brings up the possibilities and also encourages to make sure the buyers feel you are on their side. Monica shares some verbiage regarding it.
• Make sure to bring it up with buyer’s that they will likely freak out and bring it up multiple times if applicable, like if you see signs that it could be going that way.
• 2023 is your year! Call Jenn and Monica if you have been curious about what it would be like to work with them.
• Tiebreaker, Kim Costa, joins the episode today; She is with Atlanta Fine Homes Sotheby’s International Realty.
• Kim is writing a book on this topic specifically. She has created a process called, ‘The Wheelhouse Process’ for when she is helping clients look for the perfect home. She explains how she categorizes the needs and reasons for moving and how it really helps.
• 72-80% of everyone who bought a home in the last two years have some major regrets. Kim says, “They bought too quickly."
• Jenn asks Kim what to do about buyer’s remorse. 
• Kim says the very first step is to be with them and listen. Seek to understand if there are underlying issues or what the real problem is.
• Don’t simply react. Stay calm and make a plan of resolve.

3 Key Points:

1. How can buyer’s remorse be preventable? Jenn and Monica discuss
2. A buyer’s consultation is very effective in asking to thoroughly understand the desired outcomes of the buyer(s) and to address things like what is the cost of true buyer’s remorse?
3. Kim Costa, the tiebreaker for today, is actually writing a book on this topic specifically. She shares her process for helping clients look for the perfect home. 

 

 

 

Resources Mentioned:

• Jenn Murtland LinkedIn | Facebook | (513) 400-1691 | Website | Instagram
• https://jennifermurtland.com/Vault/
• Monica Weakley website | LinkedIn | Facebook
• Real Estate Fight Club Podcast  Facebook page | Instagram | YouTube
• https://www.lifestylefoundations.com/
• https://kimcosta.atlantafinehomes.com/eng

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