March 1, 2019
The real estate industry is a people business in which communication is the strongest asset professionals have. The way real estate companies communicate with their clients and potential clients has a big impact on their success and their reputation. Companies are there to help people find their perfect home, and having the right communication skills will help to not only provide information, but make the process of buying a home as personable and detailed as possible.
On the other hand, if a real estate company struggles with these skills, this could lead to bad business, low referrals, and even legal issues due to miscommunication over specifics. Here are some ways in which real estate companies can up their communication game.
The Importance of Relationships and Coverage
Real estate agents, by nature, are talkers, and this is a good thing. Being able to answer any and all questions, stay in touch with clients, and share specifics about properties are all part of being able to represent their industry well. But sometimes not being able to talk right can land real estate companies in trouble.
For instance, real estate companies should have their client’s best interests in mind when representing them. One way this is executed is through confidentiality. If an agent happens to be talking about a client and their information in a personal setting and word gets around, this could end up costing them their client’s business and even cause legal issues. This shows the importance of needing industry-specific insurance, such as E&O insurance, which can help protect a company financially when litigation is on the table.
Communication skills are really important for real estate businesses and can be enhanced in a number of ways. One way to do this is to be naturally inquisitive about your client’s needs. Agents should show genuine interest in their clients by asking well-thought-out questions and find out what they’re looking for. Position yourself as someone who is knowledgeable in your field by treating your first meeting like an interview and ask questions to establish specific details about the type of property they are looking for.
This will show potential clients that you are trying to cover all their bases and find the right home for them. Stay away from yes or no questions to encourage them to get specific and express their preferences.
Communication is not just about talking, it’s also about listening. Showing that you are not just waiting to talk lets clients know that you are engaged with their requests and needs, and genuinely want to know what they have in mind. Pay attention and listen actively and make sure to respond to what is being said.
Write It Down
Listening well is definitely a must-have trait in your communication toolbelt but going analog and backing up everything with copious and diligent notes is never a bad thing. However you need to back up conversations is your prerogative, be it with tablets, recorders, notebooks, or laptops—just make sure to have notes down somewhere.
Also, find out how your buyers prefer to be contact when it comes to status updates. Some may prefer a phone call, some may appreciate text messages, and some may go for emails, or even all of the above. These written communications are just as important as verbal communications. And, as always, make sure to proofread everything you send to make sure all spelling is correct and all information is accurate.
Stay in Touch
Good real estate companies know how often and how much they need to stay in touch. Poor communication from real estate professionals can be one of the biggest frustrations for people who are buying or selling property. Having constant contact with their clients and customers is a good rule of thumb, but also setting standards as to what your clients need and can expect is important from the start.
About Associations Liability Insurance Agency (ALIA)
The ALIA Team (part of the Riverton Insurance Agency Corporation), specializes in helping real estate professionals find the affordable and comprehensive coverage they need, without the hassle. ALIA dates its roots to 1991 with the founding of FREA, Foundation of Real Estate Associates. In 2013, ALIA was created to work with multiple insurance companies thereby broadening the portfolio of products to customers. In 2017, ALIA was purchased by Riverton Insurance Agency Corp.