Setting the pace for anything can be challenging as it takes practice, experience, commitment, and confidence. When training for a run, many people need to work with pacing coaches or apps to learn how to set their own pace, feel their pace intuitively, and know when to pick it up or when to ease up.
Real estate is no different. We have to help our clients navigate the pace of their transactions all the time. From start to finish, we communicate with our clients, educate them on the process, maintain timelines and deadlines, and ensure that just like someone running a race, our clients get to the finish line (i.e., closing table) on time.
From the client's perspective, it is so important for buyers and sellers to know, that regardless of what some agents may tell them, the pace of their transaction can also be dictated or at least influenced by them. If a client needs additional communication or follow-up, time to process, or more than one showing at a house to see if it is their home, they can ask for that. It is the Realtor’s job to know what their timeline and goals are and make sure they are informed about the market so they can understand the best strategies for moving forward.
The pace for a seller being relocated and needing to sell their home in 30-45 days. However, this is not the pace that a seller with an open-ended timeline needs to go at. The pace of a buyer looking to purchase in the next three to six months does not have to be the same as a buyer who just went under contract on their current home and closes in 30 days.
The pandemic market led to a frenetic pace where consumers on both sides got used to listings coming on the market Thursday or Friday, showings and open houses all weekend, offers due by Sunday or Monday, and under contract by Monday or Tuesday. That pace may have worked for some and in an abnormal market, but it was overwhelming for many sellers and stressful for buyers. Again, it is the Realtor’s job to understand the client’s timeline and goals and help them set the appropriate pace and not unnecessarily rush the process.
As we enter another spring market with interest rates continuing to fluctuate and news from NAR creating questions for consumers, the importance of working with knowledgeable, experienced Realtors who know how to help set the pace for each client is imperative. Consumers should be inquiring with agents and asking questions to make sure they find the right person to represent them. Realtors need to be clear on their value propositions, know what they bring to a transaction, and listen to clients. For both parties, remember, that there are plenty of great agents out there and there are plenty of clients for everyone, take your time and find the right partners for your pace.
Courtney Leggett is a Broker with Compass. Courtney’s real estate career began in her home state of Vermont in 2014. Maintaining active involvement in her local associations has always been a priority for Courtney who currently serves as Chair of the Professional Development Committee with Greater Nashville Realtors®.
