For Real Estate Agents: Next Home Buyer Showing - What Are You Going to Do?

What Are You Going to Do? 

So what are you going to do? The next buyer that calls to take a look at your listing or the next buyer that wants to see the house at 123 Main Street.

So what are you going to do? We’ve been trained… For pretty much forever to go jump in our car and show them that house! Made sense because we were always pretty much guaranteed compensation if that buyer was to love that house and want to buy it. 

But things changed. Now you are not guaranteed anything. Are you willing to work for free? Are you willing to use the gas in your car and take time away from your family for the very big chance that you won’t make any money for your time and effort? 

If you are just throwing a buyer in a car or just jumping to immediately show that buyer a house, then that’s what you are risking doing. 

Yes, you don’t see a ton of 0% buyer side house listings today. But come July… They all will be. 

So I ask the question, the next time a buyer calls or the next time a buyer clicks a little showing request button… What are you going to do? 

It CAN’T be jumping in the car and rushing to show them the house. You need to create a system that ensures that the buyer understands how the fee structure works and that they are paying it. And you need to let them know how much they are paying. 

And this needs to be done with EVERY buyer. Yes, the buyer may go call another agent to show that house… And the other agent may jump at the chance to show that house… But If they aren’t willing to sit down and go over the process, then I can assure you that the buyer will not be willing to pay you in the end. So let the other agent learn the hard lesson. 

So what are you going to do? Well, the first thing I would do is you need to figure out how much you are worth. Ya, how much are you worth? If you are a part time agent, then is your time and efforts worth the same as the seasoned agent with 20 years under their belt? It’s a tough internal question, but most likely now that the buyer is paying… It’s one that they will be looking at. 

Once you have figured out how much you are worth and how much you will be charging, then that’s when you need to start working on your buyer's presentation. You need to start practicing your scripts and your ability to close the buyer and get them to agree to a buyer agency agreement. 

Because in the end, there can’t be a single buyer that isn’t in a buyer agency agreement. Even if it’s just a one time agreement for one house showing. Think of it this way. They kind of already do this in the rental market. A rental agent is required to give the consumer a Fee Disclosure for the property before the showing. 

So again, what are you going to do when that buyer calls? It better be, I will be scheduling a zoom or an in office meeting with them to talk about the buying process and to also go over how your fee works and ways that they can pay that fee. 

Because if you don’t… Then you will be working for free and out of the business by the end of the year. 

This market is already challenging, but it just got cut throat. If you are looking for a way to up your game and make yourself more competitive, then it would be great to talk to you about REAL Broker. REAL offers us agents more than one of those traditional brokers while charging us less. At REAL, it’s a 15% split with a cap up to $12,000. The additional savings is going to be more important than ever as the fee structure changes and many people's actual fee decreases. 

If you are interested in learning more, then reach out… Confidentially of course. My number is 617-775-7687 and all of my other contact information is below. 

Until next time. 

 

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