Sunday, December 2, 2012

Explaing Buyer Brokerage To A Buyer

Many real estate agents are having issues explaining buyer representation to perspective clients. I'm referring to what is typically known as buyer brokerage. The problem is generally a result of the buyer not grasping the concept, combined with the real estate agent not using the suitable words and phrases to fully explain exactly how beneficial it is for buyers to use it.

The very first thing a real estate agent must do is to get them to understand the big difference between a conventional agent and a buyer's agent. To do this goal effectively he or she must cover the points that give them an advantage when using buyer brokerage. For instance here are several ideas you can use in your presentation.

• The buyer's agent will have a fiduciary relationship with the buyer and not the seller.
• The agent is representing the buyer and not the seller
• He or she will negotiate in behalf of the buyer and not the seller
• He or she will negotiate the lowest price for the buyer
• The agent will point out both the good and the bad aspects of the property.
• The agent will be able to show the buyers more properties than a conventional agent can.
• They can show them properties listed on the Multiple Listing Service, expired listings, withdrawn listings, for sale by owner, other company's exclusive listings and new construction.
• The buyer pays the commission whether an agent is representing them or not.
• At the request of the buyers the offer to the seller will include a provision to include the real estate fee and that the fee will come out of the proceeds just as it does with a regular deal.
• They will have the agent's strict confidentiality.
• The agent will keep them informed.
• The agent can give advice, counsel and judgment.
• They will be the buyer's professional shopper always looking at properties with their interest in mind.
• Buyers can also go shopping on their own and have the buyer's agent review it later.

These are just some of the tips you can use when you are doing a buyer's presentation. In case you are having problems convincing them to enlist your services as their agent you must go over these pointers and practice them by yourself when in front of a mirror or perhaps along with another agent that will practice with you.

An additional technique I've discovered that is very beneficial would be to practice speaking into a tape recorder and listening to your presentation played back and doing it over and over. Keep practicing your speech until your presentation sounds good. This works exceptionally well. Good luck!

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