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Answers (7)
- SteadyState
- Contributions:783
Robert Brono asks:
" What I am asking is how can an agent explain to a buyer why it is in their best interest to work with one agent only to find a home instead of hopping from one listing agent to the next. "
The real question is IS IT REALLY IN THE BUYERS INTEREST TO HAVE A BUYERS AGENT?
From where I stand this is not true in all states and for all individuals. You cannot turn a sow's ear into gold and you cannot turn fiction into the truth.
You can mislead buyers when they are uninformed and naive but no amount of marketing can distort the fact that it is not always in the buyers interest to have a buyers agent!
" What I am asking is how can an agent explain to a buyer why it is in their best interest to work with one agent only to find a home instead of hopping from one listing agent to the next. "
The real question is IS IT REALLY IN THE BUYERS INTEREST TO HAVE A BUYERS AGENT?
From where I stand this is not true in all states and for all individuals. You cannot turn a sow's ear into gold and you cannot turn fiction into the truth.
You can mislead buyers when they are uninformed and naive but no amount of marketing can distort the fact that it is not always in the buyers interest to have a buyers agent!
- Robert Bruno, "Robert Bruno Realtor"
- Contributions:700
I'm sorry if the agents who were kind enough to respond thought I was offering a referendum on getting buyers to sign a buyer's agency agreement. I also summarily dismissed that the first time I read the proposed agreement years ago. What I am asking is how can an agent explain to a buyer why it is in their best interest to work with one agent only to find a home instead of hopping from one listing agent to the next.
Please excuse the inferred ambiguity in the question. I am only asking about how you sell your buyer services to a buyer so they will buy a home from you, and bring you all listings they find for you to work with them until they buy a home. For example, is anyone offering buyers a rebate commission if they stick with you until they buy?
OR does anyone have any other good ideas that work to help us all work more efficiently with our buyers who obviously rule the market right now.
Please excuse the inferred ambiguity in the question. I am only asking about how you sell your buyer services to a buyer so they will buy a home from you, and bring you all listings they find for you to work with them until they buy a home. For example, is anyone offering buyers a rebate commission if they stick with you until they buy?
OR does anyone have any other good ideas that work to help us all work more efficiently with our buyers who obviously rule the market right now.
- Pasadenan
- Contributions:21450
No buyer in their right mind will sign or exclusive agency agreement without major modifications!!!
It is extremely one-sided and intended to rip off the buyer! And you think that such things will help build your "credibility"? If you had any, that form thrust in front of them should have just completely destroyed it!
You really want to "fix" the credibility problem? Then fire the leadership at NAR and get rid of their "talking points" lies and all the false data they publish!
Either that, or quit the NAR and join the AARA (American Association of Realty Agents) instead.
And if a listing agent cannot even answer a simple question about a listing, how do you expect a 3rd party to answer it? Agents deserve a bad reputation if they act so negatively toward the buyers!
And no, you don't even deserve to have an E-mail address from a potential buyer until they have written a formal offer! The fact that you keep abusing the information means you can't be trusted with it!
It is extremely one-sided and intended to rip off the buyer! And you think that such things will help build your "credibility"? If you had any, that form thrust in front of them should have just completely destroyed it!
You really want to "fix" the credibility problem? Then fire the leadership at NAR and get rid of their "talking points" lies and all the false data they publish!
Either that, or quit the NAR and join the AARA (American Association of Realty Agents) instead.
And if a listing agent cannot even answer a simple question about a listing, how do you expect a 3rd party to answer it? Agents deserve a bad reputation if they act so negatively toward the buyers!
And no, you don't even deserve to have an E-mail address from a potential buyer until they have written a formal offer! The fact that you keep abusing the information means you can't be trusted with it!
- sunnyview
- Contributions:25127
"The key to having someone commit to signing a Buyer Agency Agreement is trust."
No buyer should trust their agent when it comes to a buyer's agency agreement. Everything is there is black and white. If it isn't in the contract, it is not enforceable in most cases.
A buyer's agency agreement mainly protects the interests of the agent. They are hard to terminate and should not be entered into lightly or for long terms. Buyers should know up front and in writing how they can be terminated and what constitutes a breach of the agent's responsibility. Buyers should also know that they can ask to limit the BA to specific properties by address, change the timetable to 30 days to be renewed by agreement or not sign one at all until it is time to write up an offer.
No buyer should trust their agent when it comes to a buyer's agency agreement. Everything is there is black and white. If it isn't in the contract, it is not enforceable in most cases.
A buyer's agency agreement mainly protects the interests of the agent. They are hard to terminate and should not be entered into lightly or for long terms. Buyers should know up front and in writing how they can be terminated and what constitutes a breach of the agent's responsibility. Buyers should also know that they can ask to limit the BA to specific properties by address, change the timetable to 30 days to be renewed by agreement or not sign one at all until it is time to write up an offer.
- Wendy Boulden-Heffernan, "bouldenw"
- Contributions:26
The key to having someone commit to signing a Buyer Agency Agreement is trust. If they trust that you, as an agent, know your stuff and they feel comfortable with you, most buyers will consider signing a BA Agreement. Once they realize that in order for you to provide them with all the info they need to make an informed decision on which home to purchase, they begin to understand the benefits.
- Robert Bruno, "Robert Bruno Realtor"
- Contributions:700
AGREED, DAVE. How are you converting leads (especially internet leads) where you only have an email address into a buyer in your office. If you have something that works, please share it. Thanks.
Bob Bruno
Bob Bruno
- Dave Tracy, "David Tracy"
- Contributions:41
I have gone to using the Buyer agency everytime because of this situation. I wont do much with a client until they are willing to sit down and talk about the process of buying a home. I try to show them, that it is not just about picking one and making an offer. I think buyer education is the key to keeping a buyer loyal for years to come.
Buyer loyalty seems to be an issue today. What are your experiences with buyers?
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