Setting Buyer Expectations | www.EverHome.io

The Distressed Market | Home Advocates

3 ways to set buyers expectations during this sizzling-hot spring
BY ANTHONY WEST
April 06, 2021
1. Schedule a CITO (see-toe)
One of the best and safest ways to meet with buyers and set their expectations early is by scheduling a CITO or time to “come into the office.” This can also be done at a coffee shop or other public place that can serve as a neutral ground. (For safety reason, this can also take place virtually).
2. Give them an overview of inventory
If your market is as hot as it is here in the Midwest, then you know how scarce inventory is. For the year thus far, we’ve been down over 50 percent from last year. High demand and low supply equals a seller’s market — and buyers need to be prepared.
3. Show them what they get
Sometimes you’ve got to go old school. Just get in the car, and go physically look at properties at different price points and locations to show your buyers exactly what they will get. This will help them see the reality of where the market is.
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There’s nothing worse than going into a competitive market with unrealistic expectations. Simply put, it’s a bad use of time and resources, and it doesn’t benefit a buyer in the least bit. As the professionals, it’s our responsibility to educate our clients on where the market is and how best to approach it.
By providing buyers with the tools they need early on, we can better help them navigate one of the busiest times of the year for real estate activity. Here are three ways to set expectations with buyers as we move into a busy, compeitive spring selling season.
1. Schedule a CITO (see-toe)
One of the best and safest ways to meet with buyers and set their expectations early is by scheduling a CITO or time to “come into the office.” This can also be done at a coffee shop or other public place that can serve as a neutral ground. (For safety reason, this can also take place virtually).
2. Give them an overview of inventory
If your market is as hot as it is here in the Midwest, then you know how scarce inventory is. For the year thus far, we’ve been down over 50 percent from last year. High demand and low supply equals a seller’s market — and buyers need to be prepared.
The best way to do this is by giving them an overview of all the available inventory in areas they are looking at. Allow them to see what you see — just how many homes are for sale and the price points they hit.
3. Show them what they get
Sometimes you’ve got to go old school. Just get in the car, and go physically look at properties at different price points and locations to show your buyers exactly what they will get. This will help them see the reality of where the market is.
That open concept floor plan with the large renovated kitchen and walk-in pantry may not be achievable at “x” price but certainly possible at “y.” And if they’re making an offer, show them why it may not be in their best interest to try and bargain the asking price right off the bat. But instead, put their best terms forward to give them the highest chance of landing the property.
It’s been said not to get too attached to a home or show too much emotion while you’re just viewing. Quite honestly, that takes the fun out of the process, and buyers should be excited to tour property and get their hopes up on landing the home they’ve been searching for.
By setting their expectations early, agents can put their clients in a more controlled position to buy the home they love and educate them on the marketplace to make sound decisions as we move into an ultra hot spring selling season.