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Real Estate Training & Coaching School

5 Step System For Exclusive Buyer Agency Agreements

Real Estate Training & Coaching School

Real Estate Training & Coaching School

Business, Careers

4.7669 Ratings

🗓️ 16 October 2023

⏱️ 34 minutes

🧾️ Download transcript

Summary

Welcome back to America's #1 Daily Podcast, featuring America's #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris? https://whylibertas.com/harris or text Tim directly 512-758-0206 IMPORTANT: Join #1 Real Estate Coaches Tim and Julie Harris's Premier Coaching now for FREE. Included is a DAILY Coaching Session with a HARRIS Certified Coach. Proven and tested lead generation, systems, and scripts designed for this market. Instant FREE Access Now: YES, Enroll Me NOW In Premier Coaching https://members.timandjulieharris.com It's a fact. Buyer-side commissions are no longer a guarantee, no longer an entitlement. You can't just assume you'll be receiving X% on every transaction. Though this seems like a whole new stress-inducing worry for many of you, the fact is that commissions have never been a set amount, just an expectation or a tradition in many markets. Builders don't all pay the same buyer-side commissions, in fact, some don't pay ANY buyer-side commission. For Sale By Owners are the same. It's time to get better at proving your worth on the buyer side, because soon you may have to ask your buyers to pay all or some of your fee.  This brings us to your burning question: How do you provide overwhelming VALUE to your buyer clients? How can you become more comfortable asking for an exclusive buyer agreement and along with it an expectation to be paid for your hard work?  Top 5 Ways to Provide Overwhelming Value to Buyer Clients Fact: If you're not doing anything for them that they can't do on their own, why would they hire you in the first place, much less pay your fee?    Goal: Provide such overwhelming value that you're all they're talking about to their friends! Repeat, referral, lather, rinse and repeat. REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, https://alltheleads.com/harris 1.   PRESENT to your buyer clients in the same professional manner that you do a listing client.  Use our Buyer Presentation where you outline exactly what the buying process is, what your role is, what the buyer's role is and how you'll be working together to accomplish their goals. More and more, you'll start to compete for buyer business in a similar way you do for listings now! 2.   FIND them their dream home. One of the top concerns for buyers as well as agents right now is the historic lack of inventory. It's YOUR job, not theirs to find the right home for their needs.  -Be more creative in your MLS searches. Change the search area, change the TYPE of home, or find an equally great school district to look in that has more inventory. Remove square footage as a requirement, look for a 3 bedroom with a loft instead of only 4 bedrooms, for example. -Refer to our podcast series about how to find inventory that is NOT in your MLS. 3.   KNOW and PRESENT solutions to get a better-than-average mortgage interest rate. You don't have to know as much as your competent mortgage lender does, but you should be able to competently discuss : 2-1 Buy Downs, Adjustable Rates, and how to pay points to lock in a lower rate on a 30-year fixed mortgage.  4.   Be a matchmaker. You must be more proactive than your buyer is.  If they're dying to be in just one specific neighborhood, doorknock that neighborhood for them to uncover the next motivated seller.  5.   Provide additional value by being one step ahead once they're pending. Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/?aff_code=670699 Need more training on this? Join Premier Coaching today to get the Buyer's Presentation and the Buyer Mastery coaching you'll need to thrive in this new market.

Transcript

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0:00.0

Welcome to Real Estate Coaching Radio starring award-winning real estate coaches and number one international bestselling authors, Tim and Julie Harris.

0:10.2

This is the number one daily radio show for realtors looking for a no BS authentic real-time coaching experience.

0:18.2

What's really working in today's market, how to generate more leads,

0:21.8

make more money, and have more time for what you love in your life. And now your host, Tim and

0:28.3

Julie Harris. We are back. Today, Julie, you and I are going to be talking about buyer agency,

0:35.4

and we're going to be framing this so that we address a lot of

0:38.4

the questions and comments we've been getting from listeners as pertains to the commission sharing

0:43.1

agreements and the co-op commissions and buyer agency in the future of all that. So we're going to

0:47.4

be talking about that. And then we're also going to be giving you guys specifically an action plan,

0:52.1

a five-part system in essence, so that you can't actually start

0:55.1

using buyer agency contracts.

0:57.7

And let's just start out by giving you guys the bottom line on what we think is actually

1:02.2

going to happen with regards to all these commission sharing agreements.

1:05.5

And here it is.

1:06.7

A big bunch of nothing.

1:07.7

Yes.

1:08.7

Nothing Burger, as they say.

1:09.7

Yes.

1:10.7

I would say very little fundamentally is going to change in the way you transact

1:13.8

and work with buyers.

1:15.6

Now, where we are or we where we could be wrong and where it will be interesting to see

1:21.1

how the market and the industry sorts itself out and figures out how to go about this,

...

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