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Real Estate Training & Coaching School

Trusted & Proven Complete Real Estate Home Buyer System

Real Estate Training & Coaching School

Real Estate Training & Coaching School

Business News, News, Careers, Business

4.4705 Ratings

🗓️ 17 July 2023

⏱️ 37 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/ Are you sometimes frustrated working with buyers? Do they seem unpredictable, noncommittal, or unresponsive? There's only one solution to eliminating the stress and guesswork out of working with buyers. Actually, there are two: #1: Always be the listing agent; but until you've built your active listing inventory up to the point that you can refer all your buyers, you'll need the second solution: #2: Use a Buyer Presentation! You'd never go on a listing without a presentation, so why do you give your precious time, skill, and dedication to buyers without one? Fact: Buyers aren't liars, they just have no idea what to expect. They don't know what the correct process is, what to expect from you, what you expect from them, or anything else that agents like to get upset about. Fact: It's not the buyer's fault. It's the agent's fault for not educating them on what is supposed to happen throughout the process. This is also why agents don't typically get the Buyer's Agency form signed. Remember that the definition of 'close' is 'the logical ending to a great presentation'. If you try to close for a signature on the Buyer Representation Agreement without a presentation of WHY they'd want to do that, of course, you'll face rejection and never want to ask again. Sound about right? Solution: Use a proven Buyer Presentation! You'd never expect a seller to sign a Listing Agreement without a presentation, would you? Do you have a presentation for your buyers? Our Proven Buyer's Presentation specifically addresses several key challenges that agents and brokers have with buyers. 1).   What is the actual process to correctly purchase a home? In what order will they need to execute those action steps? First-time buyers are especially in the dark about what to do and how to act, but other buyers from different markets or countries can also be confused. It's not their job to know what to do; it's your job to set expectations and educate them. You've also noticed that folks who haven't bought for several years may have different expectations than what today's market requires. Start with the buying process. Actually educate your buyer prospects about what is supposed to happen and in what order! For example: -They must become pre-approved, ideally get an actual loan commitment from a mortgage lender. You can supply your buyer with a standard list of documents required to apply for the mortgage and the specific lender can add anything particular to them. Your buyer should also be aware of their own credit scores at this point in the process. -If your buyer is all cash, they need to secure a proof of funds letter from the entity where their cash is parked. Bank accounts, investment accounts, etc. Caution: is it coming from the sale of something that hasn't sold yet? -Meet with you for your Buyer Presentation. We'll drill down on that in a moment. 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/

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. Welcome back. We have a great topic for all of you today. What we're going to be

0:34.0

focusing on is the importance of having a exclusive buyer agency contract signed.

0:39.9

I'm going to start out by selling you into the understanding of why it's so important.

0:44.3

There are a lot of changes that are happening right now, and we've been talking about it periodically on this podcast and our coaching program,

0:50.3

about why we believe it's very realistic to assume that in the near future, you're going to have

0:56.1

to have an exclusive buyer agency contract sign for every buyer you work with, just like when

1:02.2

you take a listing, you have to have an exclusive listing contract sign with that particular seller.

1:06.1

Now, why do we speculate that might be true?

1:08.6

And here's the real bottom line reason why.

1:12.6

In the next maybe 24 to 36 months, maybe faster, what we're going to see is that the buyer agency commission is no longer

1:18.2

going to be an entitlement to the sale. In other words, right now, buyer agents can just rest assured

1:23.9

that there's going to be a co-op or a buyer agency commission that's going to be paid by the seller on every transaction. But we are seeing lots and lots of reasons, and again,

1:31.4

we won't get into it in this podcast, lots of reasons to believe that legally that's actually

1:35.8

going to change so that if you are working with a buyer-buyers agents, you're going to have to

1:40.2

actually, in essence, sell that buyer into why they should be paying you directly your

1:45.9

buyer agent commission. You heard me correctly. Just as if you were going on a listing

1:49.4

appointment, you've got to explain to the seller why you're worth whatever the listing commission

1:54.2

is. You guys, those of you who are prolific listing agents, you know what I'm talking about.

...

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