Managing Expectations

Often misunderstandings, or unhappy clients stem from a lack of proper communication, effectively explaining what will happen throughout the process, lack of follow up, lack of follow through.

Many of the calls we receive as brokers are to clear up misunderstandings that are now blown out of proportion.  It starts out the client thought one thing was happening, the Agent thought another thing was happening, and Escrow or the Lender thought something else entirely.  We then begin to gather the information needed to help everyone to a negotiated solution.  When we negotiate as brokers, we have to be sure that we have managed everyone’s expectation on what did or did not happen, not just the issue itself. 

First step in any type of problem solving when one does arise is to define the problem. Usually, somewhere along the way an expectation that was relied on became changed, or eliminated, and the news of this change did not make it through the channels to all parties.  Confusion and disappointment are now happening. Listen and be willing to really hear what they are saying, and why they are upset. While you are doing this, be kind, and stay out of judgment, and remain respectful, and calm with everyone involved, including the other agent.  You are trying to find out how you can help at this point. The more information you can gather to learn exactly what the issue is, the better.

One of the best ways to avoid having missed expectations is to have a LOT of communication regarding “what happens next”.    We often tell a client what we EXPECT to happen next,  but we fail to tell them what may go wrong with that next thing.  And then what would we do?   Once we have to backtrack in conversation,  it appears that we were not on top of the entire issue.   Counseling clients constantly, and MANAGING EXPECTATIONS is the most valuable tool in your belt.

SEQUENTIAL CONTENT DELIVERY is a standard method of delivering a large amount of information in small parts.  This helps everyone feel informed about making good choices.   You don’t have to have the entire transaction ready to go from opening day, you just need the first stage of content.  (First, the offer info, then the escrow opening info, then working with the lender,  inspections, requests for repairs, etc.)  From there, you stay one step ahead of your various team members and clients.   Do this often and before any deadline.

This highlights the key challenge with managing expectations.  You may think you are clearly outlining what to expect, including clear explanations of what is going to happen and how things will be delivered, yet it won’t necessarily be enough.  Some people will make assumptions or did not read/understand your explanations, then be disappointed when they don’t get what they expect.

The two challenges of managing expectations are;  communication and preconceptions.  To make it even harder,  each person has different preconceptions based on their unique experiences.  They probably aren’t even comparing apples to apples as the saying goes.

Successfully managing expectations comes down to understanding what people really want and making sure they get it.  Managing expectations isn’t just about you avoiding damaging errors.   It is also a fantastic OPPORTUNITY to exceed their expectations, and when you can’t to have their absolute trust that you are honest and telling them all their options.

Keep these things in mind:

1.)  DON’T REINVENT THE WHEEL:  If you have never encounter a situation like the one you are discussing, please seek help from those of us who have been around for a long time.  We can help you with options.

2.) ALWAYS SAY WHAT COMING NEXT:  Let them know that you are listening.  Tell them the next steps you will need to take. “Let me speak to the other side in the transaction and see what happened, or what they were expecting, and I will get back to right after I have been able to reach them.” Stay kind, stay in discovery, and stay proactive.  Don’t disappear or ignore them. This shows disrespect, and disregard for them.

3.) LISTEN TO FEEDBACK:  This goes back to what brokers are required to do everyday;  what is the problem?  Who brought this to our attention?  What are the options already existing to fix it?  Where are we stuck?   Collect enough information from everyone to be sure this problem,   and its solutions are clear to you.  Identify what was the expectation and why they were counting on any particular result.  This helps you set the degree of problem vs. solutions. (Is this a small thing or a deal killer?)   Feedback is extremely useful because it spots your weaknesses and gives you a chance to come back strong on solutions.

4.)  SHARE INFORMATION WITH CLIENTS THOUGHTFULLY:  For instance, do not wake them up early, or call them late,  with bad news and no solutions.  Do not leave them hanging while you do your research,  get as much of this done before you help them reset the expectation.   Don’t leave them waiting over weekends.  Don’t forget to call them back or email.  Or, the opposite occurs,  agents have been known to call their clients and “tell them everything” whether or not they need this burden of information. This feels like the agent couldn’t judge the amount of “damage/opportunity” before they shared what may appear to be half-baked information.

5.) FINALLY, TRUST YOUR BROKER:  We are here to support you.  We have “been there, done that” and we can happily add years of experience and solutions to your issue, whatever it may be.  We also have the authority,  and know how,  to speak to any member of a real estate transaction with you,  or on your behalf.    You do not have to go it alone.  Be sure to tell your broker everything he/she needs to know to accurately identify the issue and its solutions.  Even if you think you made an error or the client is really angry, tell us, we can help.   We often find out when we are doing our Broker duties described above,  that someone didn’t tell us a key point.  We are YOUR Team Leaders and we want the very best for you.  You can count on us!

In the end, the difference between what they expect and what you deliver will determine your level of success, and whether what you put out there,  gains traction and succeeds,  or disappoints and flops.   We know YOU can be a success by MANAGING THOSE EXPECTATIONS!