How to Reassure an Uncertain Vendor

July 6, 2022
BY Rebecca Gillis

Over the past few years, selling a property has been easier than ever before. With record prices, tight supply and low interest rates fuelling demand, buyers have been busy competing with one another and it’s been a great time to be a vendor.

Now that markets are returning to a more normal level, dealing with vendor uncertainty is something that agents are going to have to start contending with. While it’s natural for a vendor, who is selling their largest asset, to be nervous, there are a number of things that can be done to help ease their concerns.

Be Honest

The heart of being a great real estate agent is being able to quickly build trust with a vendor. While trust does take time, one of the fastest ways to speed up the process is by being totally honest with a vendor, as well as adding a personal touch to your service. While a seller obviously wants to get top dollar for their property, depending on where the market cycle sits, this is not always possible.

If their expectations are off your job as an agent is to bring them back to what the market is telling them, then let them make the decision. Uncertainty with a vendor is often created when their expectations are set too high. If agents are setting high expectations in listing presentations, this might ease their concerns in the short run but will lead to far bigger problems down the track.

Show the Facts

If a vendor is nervous, the best thing to do is present them with the facts about what is currently happening in the market.

Back up your personal opinions with hard data. Show them the comparable sales. Talk them through how your other properties have been selling and the kind of interest you are experiencing at the moment.

They are better off knowing everything up front as they can then go out and make an informed decision. Your job is to do the best thing for your client and if that means that they are not ready or prepared to sell, then sometimes that’s the right thing to do.

You can be sure that if they are uncomfortable at the moment and uncertain and you’re able to offer them the right type of support and be completely honest when the time comes to list they will be calling you straight away.

Add Value

If a vendor is uncertain, be sure to trace the cause of the uncertainty and work through it with them. As an agent, part of your job is ensuring that you understand your clients, including their needs, desires, and problems they may be facing. Solving a clients issue is bound to build trust, and reassure them.

See if you’re able to use your network and expertise to solve any problems they might have that are leading to that uncertainty.

There are other things that you can do to help an uncertain vendor who might not be confident in selling, such as contacting your database for a private off-market viewing to gauge interest from the market, without the need for them to commit to a huge market campaign right off the bat. Ultimately, if you can solve their problems, their uncertainty might very well go away.

 

VaultRE Sales CRM Webinar

More Articles Like This

Blog - Leveraging Your Personal Brand to Get Listings
Leveraging Your Personal Brand to Get Listings

Read More
Blog - Creating a Business Plan for Your Agency
Creating a Business Plan for Your Agency

Propel your agency into success by learning how to create an effective business plan.

Read More
Blog - 4 Ways to Warm Up a Cold Lead
4 Ways to Warm Up a Cold Lead

Learn how to create more sales opportunities by warming up the cold leads you already have in your database.

Read More
[On-Demand Webinar] VaultRE and Rello: Introducing Your New Payment Solution

Read More