Today’s buyers and sellers are more informed than ever before. Thanks to an enormous amount of information accessible online, they typically come into the real estate transaction with preconceived expectations before even speaking to an agent. In fact, according to NAR, only 19 percent of buyers contact a real estate agent before doing their own market research.[1]
That’s why superior market intelligence and clear communication are critical to right-sizing client expectations and establishing trust. A good agent who really listens to their clients’ needs has likely excelled in the communication department, but without reliable property intelligence, it can be difficult to overcome objections and defend your expertise.
Consider the following scenarios — do these sound familiar?
- A potential buyer has read reports that the market is cooling, and home prices are going to drop. They insist on seeing homes that are listed significantly over their budget, believing they can win with a lowball offer.
- Your seller insists on listing their home above your recommended list price, citing the example of their neighbor who sold their home for $50,000 over the asking price in April 2022.
- Another buyer is hesitant about purchasing a home now, afraid they would be buying at the top of the market and be underwater if there is a housing crash.
Each of these client conversations requires nuance, skill, and confidence to navigate. But it is essential to set realistic expectations with your client to avoid disappointment. As an experienced agent, you expect that the lowball offer will fail, the inflated listing will linger on the market, and your hesitant buyer will miss out on an opportunity to get a great home and build equity. The most effective way to establish credibility and handle objections is to come to the table with detailed property data and supporting information to support your professional recommendations.
Unfortunately, many tools on the market are woefully inadequate for this purpose. Among the old and outdated is the comparative market analysis (CMA). Despite the CMA serving as the traditional, go-to pricing tool for many agents, it is also a clunky and confusing time-zapper, which can take nearly an hour to create each time. Not to mention, it can fall short when it comes to helping agents make a clear and compelling presentation to clients.
This is where embracing the latest technology can prevent a total real estate fail while making the agent look like the smartest person in the room. With geniuspricePro powered by homegenius Real Estate, you can work smarter, not harder, and enter client conversations with an edge.
geniuspricePro is the first ever property valuation tool to use artificial intelligence and image recognition to inform a property’s value estimate. With geniuspricePro, agents will save the time spent creating traditional CMA reports and the hours spent combing through comparable property photos.
Whether used alone or as a complement to other valuation estimate tools, geniusprice technology empowers agents to overcome several pain-points and explore new possibilities. This advanced technology puts the power of computer vision in your hands to help you make more confident pricing decisions, save valuable time, and personalize the experience for your clients.
Visit homegenius.com to see just how easy it is to make geniusprice technology go to work for you.
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[1] https://www.nar.realtor/research-and-statistics/research-reports/highlights-from-the-profile-of-home-buyers-and-sellers