Buyer Agency Sales Meeting

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Presentation about Agency relationships and the advantages of Buyer Agency in real estate.

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Buyer Agency Sales Meeting

  1. 1. Tuesday, August 20, 2013 Harrisburg Office Sales Meeting
  2. 2. Reminder – We’ve Moved • Signature in e-mails • Signature in CPML • Social media sites
  3. 3. Grand Opening – Open House • Thursday, September 19th • Details to follow
  4. 4. Homesale Center Tips
  5. 5. Homesale Center Tips
  6. 6. Homesale Center Tips
  7. 7. Is a TV Wall Mount a Fixture? Answer: Definitely maybe • Not addressed in agreement • What was the intent of the seller? • Specific to a TV brand?
  8. 8. Agency Relationships
  9. 9. How Did We Get Here? • Landmark case in 1993 • $275 million lawsuit • Involved over 6,000 transactions
  10. 10. When Things Go South The original disagreement is usually pretty clear cut to rational attorneys . . . so they dig a little deeper
  11. 11. When Things Go South The transaction file is the fingerprint Depositions and investigations aren’t something that you want to experience
  12. 12. Let’s Start at the Beginning This is only a disclosure Different ways to be represented
  13. 13. Let’s Start at the Beginning “ . . . be advised that unless you select a business relationship by signing a written agreement, the licensee is not representing you. A business relationship is not presumed.”
  14. 14. What are the differences? • Know the benefits • You should be able to clearly explain the differences • If you can’t explain the benefits, why do you expect the buyer to sign an agreement
  15. 15. Buyer Services Guarantee • Tool to help you explain the advantages of working with you • Link it to the Buyer Agency Contract
  16. 16. Buyer Agency Contract • Ensures that you get paid • Outlines what you will do • Remember – unless a buyer signs a Buyer Agency Contract, you represent the Seller
  17. 17. Buyer Objections • But I don’t want to be tied to you for an extended period of time. • But I didn’t have to do this with another REALTOR® when they showed me some properties. • But I could end up paying you a commission if I buy a FSBO.
  18. 18. Listing Property • What are the ramifications of checking off the Subagent box? • Recommend that you only check off the box marked Buyer’s Agent X
  19. 19. Question to Ponder Can you show a property to a buyer without a Buyer Agency contract and prior to writing a contract on it, become a Buyer’s Agent?
  20. 20. Question to Ponder If you show a property to a buyer without a Buyer’s Agency contract and the MLS printout indicates that the seller is only willing to compensate Buyer’s Agents, are you entitled to a commission if you sell the property?
  21. 21. Code of Ethics & Standards of Practice Standard of Practice 16-10 REALTORS® acting as buyer representatives, shall disclose that relationship to the seller or broker at first contact and shall provide written confirmation of that disclosure to the seller representative or broker not later than execution of a purchase agreement.
  22. 22. New Listings

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