This article appeared in RECO’s ‘For the RECOrd’, April 24, 2015, and is reprinted with permission.
Clear communication leads to success
Communicating frequently. Providing sound, accurate advice. Making commitments and keeping them. These are the hallmarks of professionalism and key to your success as a real estate professional. As one registrant recently learned, even a typo can have big consequences.
Keeping your clients in the loop is not just a courtesy, it will tell them that you are on top of things and provide them with confidence that the transaction is unfolding as it should.
Even if the news isn’t great – like a showing that has been cancelled – it is best to keep the lines of communication open to show that you are following through on your professional commitments and doing your best to sell the home.
Failing to communicate properly with your client can have undesirable consequences and can certainly undermine your reputation as a professional.
A good example of a breakdown in communication between salesperson and a seller happened last year and required mediation to resolve the seller’s complaint to RECO.
In this case, the salesperson did not obtain any offers on the property after numerous showings. The salesperson, in an email to the seller, suggested reducing the asking price by $114,000. The seller couldn’t afford that reduction and asked the salesperson to cancel the listing agreement, but the Broker of Record refused to do so.
The seller complained to RECO, and the dispute went to mediation. During that process, the salesperson realized she had made a typo in the email to the seller – the reduction should have been $14,000 rather than $114,000. After the error was discovered, both parties agreed to a listing agreement for a $14,000 reduction in the sales price.
In this case, the misunderstanding was completely preventable. Had the salesperson met or spoken with the seller directly, chances are the mistake would not have been made. And, if a meeting or phone call wasn’t an option, a more careful reading of the email before it was sent off to the seller may have avoided the mistake. Even if the typo slipped through, when the seller asked to cancel the listing agreement, the Broker of Record could have taken a closer look at the situation and spotted the error.
To learn more, check out a new video (https://www.youtube.com/watch?v=-sNt0sZiv_A) that talks about the importance of open and honest.