Who is in control of the outcome in the real estate selling and buying process? As a professional investment broker specializing in helping bring success to buyers and sellers, I realize that I am not in control of the outcome. My role to help sellers and buyers navigate the process.
What I have learned is that to be my best it requires that I remember that I am married to the process, not the outcome. On a base level I provide the necessary contractual services that facilitate the transaction. It is the higher level of demonstrating an expertise in the posturing of a property for sale and understanding all the intricacies of the process that helps buyer and/or seller get the sale closed. Developing the communication skills that will help buyers/sellers trust the process will help them to convey any unknowns that will be surprises later. Helping them to set realistic expectations and keep ego in check during the process is part of how I hone my skills to build certainty that they have chosen the right professional for the job.
Sellers, especially in the process of marketing their multifamily are not familiar with all that a perspective buyer will ask of them. When they are running their day-to-day operations no one is normally questioning the quality of the management. As a professional broker I oftentimes have to provide a roadmap to help them understand what the needed information is, how it needs to be presented and why it is important. Sometimes I have even had to help them interface with their property management company to get the needed information.
Buyers, especially newer investors need guidance in what should be asked to make an informed decision. Directing them to local accountants, banks and property managers is part of the job as well. Landlords often do not have a healthy asset management relationship with their property managers. They have no idea of what information they should be getting and how they should analyze their property after they receive it. More mature investment buyers coming from other markets may challenge you with practices that your market is not familiar with. Never be embarrassed to ask questions and seek guidance from more experienced brokers and or learning resources. This is how you will help your sellers.
Three takeaways from this concept of the process. Vow to get better daily. Knowledge of the process of buying and selling investment property takes time and continuous education. Commit to being a lifelong learner. Spend time honing your salesmanship skills. This is so much more than selling, it is building rapport and certainty that you are a trusted professional in your field who has excellent boundaries and understands their role.
Trust the Process
