Dealing with a stubborn client in real estate. How can you get them to listen to market feedback?

I find more and more we are going back to meeting face to face with our clients where we began 33 years ago. Email and text has its place but to build trust and understanding of the most important financial transaction you will enter into, you will find this sitting down face to face with a skilled, well -seasoned Loan Officer and/or Realtor that will be there for you throughout the transaction and down the road. It is how you build your long -term relationships. Drew Mortgage has clients back to 1991, we are now working with great grandchildren.

Listen to your clients actively and with an empathetic ear. Understand their needs and explain the buying/selling process and market conditions in simple terms. Remind them of your expertise and years of experience and dispelling any unrealistic expectations in a firm but friendly manner. I think trust and respect are very important between all parties involved.

As a director of a real estate firm, my professional advice for dealing with a stubborn client is to first establish trust by actively listening and demonstrating your expertise. Then, present a comprehensive market analysis tailored to their property, highlighting potential risks and rewards. Share success stories of clients who adapted their strategies based on market feedback, and enlist expert opinions for further validation. Frame your advice within the context of their long-term financial goals, demonstrating how aligning with market realities can maximize returns and mitigate risks. Explore flexible solutions and maintain open communication throughout the process.

Firstly, we acknowledge and understand the client's resistance. It's crucial to empathize with their perspective and recognize the factors influencing their decisions. By listening attentively, we gain insights into their concerns and preferences.

I'll explain to them that the market feedback is based on real data and trends that affect your property’s value. I'll let the client think of it like getting advice from a friend who knows a lot about home sales—they’re trying to help you get the best outcome. And we'll go over the numbers together and find the best way forward.

I always make sure to frame things so I’m honestly reporting what the market is like, or if it’s a seller client, what the buyers’ feedback is. I don’t frame it as MY opinion where it sounds like I’m attacking the client’s position. For example, I’ll say, “Well, I thought that our list price was fair, but we’ve had 20 showings and most of them have said the price is too high.” Or I’ll say, “Since we put your home on the market, four other similar homes have come on at lower prices than yours and the rate of homes going pending has dropped.” I do not say, “Your price is too high.” So it’s like I’m a news reporter passing on the facts.

Encourage questions and open discussion throughout the education process. This allows clients to clarify their understanding, address concerns, and actively participate in the decision-making process

Acknowledge their concerns and show empathy. Introduce market data as objective evidence, highlighting comparable properties and their outcomes. Use positive language to emphasize the benefits of adjusting their strategy and offer alternative solutions that align with market trends. Remain patient and understanding throughout the process, building trust through persistent and tactful communication.

Education is key. We utilize our expertise to educate clients about current market conditions, trends, and comparable property values. Through clear, factual information presented in a tactful manner, we aim to broaden their understanding and encourage them to reconsider their stance based on empirical data.

Ditch industry jargon and complex explanations. Use clear, concise language that your client can easily understand. Avoid overwhelming them with technical terms or overwhelming details.

Effective communication is fundamental. We ensure open and transparent communication channels, where we actively listen to their feedback and provide reasoned responses backed by market analysis. This fosters trust and mutual understanding.

Sharing success stories and testimonials from satisfied clients can be persuasive. By demonstrating how others have benefited from considering market feedback, we illustrate the positive outcomes of informed decision-making.

When working with stubborn real estate clients, show them you're on their side. This builds trust and helps them relax. Use facts and real examples to explain the market, and listen to their worries. Gently guide them towards realistic goals. Be patient and understanding throughout the process. This will help everyone reach a successful outcome.