Effective Real Estate Communication Tips Could Smooth Sale

Effective Real Estate Communication Tips Could Smooth Sale

with No Comments


Maintaining open lines of communication with all parties involved in a real estate transaction enables closings to run more smoothly and quickly. As an agent, you must function like a symphony conductor, coordinating the various actors in order to complete a successful transaction.

It all starts with the listing agent's communication abilities and availability to the seller. If you are the buyer's agent, you must be easily reachable by phone and respond to calls promptly. First-time home purchasers frequently feel apprehensive and are unsure how frequently they should contact their agent. You must first establish ground rules for when your buyer can call (not too early or too late) and determine the best method of communication for each client (phone, text, email, etc.).

Continue reading to find out how to communicate more effectively with all parties involved in a real estate transaction, including sellers, buyers, other agents, lenders, and closing officials.


Different Types Of Communication Issues

Communication breakdowns occur occasionally throughout the negotiating process, particularly between offer submission and acceptance. Many purchasers are unfamiliar with the procedures for submitting offers. The listing agent evaluates the offer and then discusses it with the seller, which might take several days. Then, if there is a counteroffer, it takes much longer. Meanwhile, the buyer may find a more suitable property or simply change his or her mind.

When multiple parties are involved in a real estate transaction, communication issues are unavoidable. One person may have forgotten to send a message, another may be on vacation, or a document may be missing. Every participant requires a mechanism to ensure timely and effective communication.


Troubleshooting Communication Issues

Title companies provide advice on how to organize all of the documents necessary by closing agents. They also demand complete contact information for you as the agent, the buyer, and the seller, as well as preferred methods and times of communication. Contact information for the condo or homeowner's association is also required so that the closing agent can acquire a Certificate of Approval and verify any association payments. Provide complete contact information for any surveys, pest inspections, or home inspections. Finally, if a party is unable to attend the closing, you must provide all contact phone numbers and the full address for the closing paperwork to be mailed.

Escrow businesses can offer buyers and sellers advice on how to close their transactions as quickly as possible. They promote good communication among parties and request that all inspections and walk-throughs be conducted well in advance of the closing to avoid delays. Buyers and sellers must present the necessary documentation and legal identification to the closing, and sellers must clear any liens or court judgments prior to the closing.

Real estate attorneys also provide guidance for smooth real estate transactions. Buyers should "expect delays" in real estate transactions due to inadequate communication between the parties, they say. They also advise buyers to answer fast to lender or agent questions in order to "speed things along."


Real Estate Transaction Administration

The days of arranging real estate transactions via outdated communication methods are soon passing. Problems like failing to transmit a message, being unable to contact a key transaction actor, or misplacing a vital document can now be avoided. There are several high-tech, paperless, digital document software systems available that make real estate transactions much easier and safer.

Real estate transaction management software automates transactions, minimizes paperwork, and frees up your time. These solutions expedite the transaction process by providing all designated parties with access to digital files and documents at any time and from any location. These technologies now allow brokers, sellers, buyers, buyer's agents, insurers, and appraisers, among others, to view all papers. Deadline reminders, notices of new documents, updates, and new developments can be delivered to the necessary parties at any time. Such solutions limit the number of phone calls, emails, messages, and other means of communication that are susceptible to failure. (For technological suggestions that won't ruin your business, click here.)


Real Estate Transaction Management Software Types

Which real estate transaction management software systems are the best? This comparison compares three main programs: Dotloop, SkySlope, and DocuSign. Dotloop, the industry leader, was recently purchased by Zillow. Dotloop dominates the business, as evidenced by more than 25 million electronic signatures in a recent 12-month period. Dotloop states that RE/MAX and Keller Williams make their system available to all of their agents. SkySlope also says that their technique is used by RE/MAX and Keller Williams brokerages. NAR members can get a discount on DocuSign accounts. While the three have certain similarities, they each have different features and costs.

Your communication skills and accessibility to your clients are essential for a flawless real estate transaction. Delays or failures are frequently the result of poor communication. Use real estate transaction management software and paperless documents with digital signatures to help solve communication issues between the various parties and to speed up the process. These tools help make your closings more efficient, convenient, and secure. A more efficient communication method will not only improve the success of your real estate transaction but will also raise client happiness.