How Do I Sign Texas Travel Agency Agreement

Agency agreement for commercial property (exclusive buyer/tenant) form

hi I'm Brian Eisenhower and I'm here with three real-estate agents and we're here to talk to you a little bit about getting an exclusive buyer's agency agreement sign with your buyers before they go out to show homes and we do that primarily to initiate a working relationship with our clients and ensure that when they do buy a home they do actually use you as their agent so that you receive some sort of compensation for your services out showing property with them for so many hours and your gas money so I've got Shelly Laura and Scott here with me and I want to ask you guys so what percentage of the clothes buyer side transactions do you have the buyers or did you have the buyers sign one of these exclusive agreements before working with I'd say 95 simply because that extra 5% was you know a listing from our team so I want to reserve the right to be a transaction broker on that okay make sure that we're not getting muddy so you are already in a representation with them on the listing sites they felt pretty comfortable with them at that point that makes sense I make sense of 95 percent of the buyer signs otherwise though yeah I had all the one hand except for one and that's the one that walked yeah yeah you learn the hard way yeah you don't you don't do it twice yeah that's good what do you want all of them they have to have a buyer's agency sign before all show property okay so that's just absolute policy with you you're not going if it's our own listing of course I need to go should X I'm gonna represent the listing okay that point in time but outside of that I need a buyer's agency signed okay why do you think I mean you guys are so automatic with it sounds like um why do you think it is that so many agents are reluctant to get this agreement signed they're so quick to people please and jump into the car of their client because they've got a client you know why they so has them to take this this important step before a lack of confidence how do you think yeah I think yes you know scarcity if I don't do this if I push them if I push them on this then they'll run away no they don't make a big deal of it get him to sign it explain it to them the whole thing is that you're the professional too so you know you're the one that's gone through school over there that's right they're looking to you for the answers so ask him to sign any job I've ever had I've been hired to do it so that's what I'm doing with the buyer's agency yeah I agree if you put in all the work and all the time especially when it often involves weekends and nights and things like that to not acknowledge that they're going to work with you when it comes time to buy the home I think it grossly under values the job you do so I I think it's also important that they not be concerned about getting your clients to sign it if you are afraid of losing them because you're asking that question they can feel that they can smell that lack of confidence um they want a successful confident real estate agent negotiating on their behalf and if you don't have the confidence to actually say hey I'm required to have you signed this before we start looking at houses to me that's putting customer service in a very outrageous place that's being overly accommodating um you deserve to be paid for your services yeah it's not it's not necessarily customer service it's that's a bit of a disservice because you know like we talked about this is a big emotional decision they're not always going to act in a rational manner right we're here to help them get what they tell us they want and sometimes that means pulling them through that irrational period a little bit and it might be because they're just scared of a contract and they're a bit irrational about that I agree it alone 3 maybe I don't even know what it means exactly right lean it calmly and okay well I'm just really asking the wrong people because you guys definitely have no problem getting this thing signed but with that said I think it's unique how Scott you were telling me earlier about how you set the expectations of having them sign the agreement right up front of the fires consultation agreement when we sit down at the table we simply gotta know why we're there right it's an upfront contract of hey guys here's what we're gonna go over we're going to talk about what the process of buying a home is you're going to ask questions we're going to figure out what's important to you have you tell me that and we're going to talk about what it means to work together when you hire me like Shelly said and then we're going to look at the agreement we sign the contract to do that yeah see since there's no surprise without and just they just know it's coming when they agree to that and they let you proceed from that standpoint other I think that's just the next logical step in the process so I like that I always go through your system just confidently and it's just that you're going through it's just an automatic thing agreed we'll tell what you say so you're flipping through you're saying okay with other properties we're going to do this let's talk about the neighborhood's oh and I need to have you sign this what is that what is that script look like for you basically I just tell them say you know you want they have the representation of somebody that knows you that has been with you throughout the whole process that understands what's going on you don't want several people and to be scattered all over the place okay well let's go let's talk right up front so that your very first let's say they're not they don't have any problem with this you're presenting that buyer's agency agreement for the very first time maybe in your initial buyer's consultation in the office when you're talking about the homes that they want to see how do you present that evening hey buddy well I've already reviewed the whole process at this point in time I reviewed everything that we need to do they already understand that this is where we're at so this point I just say okay so this is the agreement that you and I decided to work together do you agree with that no it's always say yes I said great let me just explain you what the contract means I think that's the scare there's all these eight pages of all this wording and I just turn it upside down so they're the ones looking at it I go by each line what this is what it means and then by the time I get to the end and I say and this binds us together is that sound good to you and everyone just says yes because I've already explained it to them there's no question or now it's your turn yes right now we can kiss we're gonna find a home okay that's a unique part I don't do that yeah that's good that's good whatever it's a full-service real estate it okay so another no that okay so anybody else have a script they use when it's time to sign that agreement kind of similar just when we get to that part as we about the expectation says hey this is the contract we used to work together and just like if you sold a house you sign a contract to sell it you spend a contract to buy it so let's go through write that I like that I like that one so what one that I've used a lot it may just be too clean but I know it hey my office requires you to have to sign this before we start looking the property yeah or it's my policy to have you sign this before we start looking at property yeah very simple very quick it could just be your own policy so it's my policy or it's our policy or my office requires I think every office wants their agents to have it signed now and I also tell them that you know the thing is is that it's a business transaction between both of us if you like me or don't like me at some point that I'm willing to let you get out of that contract and so if you know it's a relationship and we need to have a good relationship with each other you know and I haven't had anybody that has an issue with that okay let's say someone does have an issue let's say that someone is kind of balking at and you see you can just see it in their face or maybe they say something or maybe the husband of the wife they look at each other like well I don't know what should we do here like there is a decision to be made this is not automatic what do we do then give them time if you want to just step out of the room and say hey you don't want to talk about formatting back I've had other agents state that they have a problem with the admin fee if you're charging for that the additional fee and we do charge 395 I just don't make it a big deal it's part of the transaction it's what everybody does I explained with the 395 fees and then I go on to the next thing on the buyer's agency and this is what this means and because I didn't stop and make it a big deal I think they don't think it's a big deal one just roll through yeah right I like the idea of stepping and getting out of the room too because often times if there's two of them especially they just want to chat about it really quick and you step out give them some time you step back in do you have any problems with this typically at that point in time these are surprises them yeah they're surprised that you're willing to just say you know what it sounds like you guys need a child give you 10 minutes I'll be back and you can read when you're explaining it you can the body language as through the whole thing you're figuring out the style right are they a D or they'e seeing something like that it could be pretty uptight about signing something within ten minutes of reading it shirt therapy that's true you know high C so in that case you know I I'll let them a little bit off the hook and kind of have a gimme oh say look bill I get it if I were in your shoes I'd probably feel the same way you guys don't know if I'm an axe murderer or not so let's pick out your top eight homes let's go see them at the end of the day we'll revisit it and I feel good that at that point we'll want to work together with your Halloween math yeah yeah but I thought so I like that you set the expectation at least after I do some work for you we're going to get the sign it's not just something you're never not going to be committed at some point we're going to have it's not about it giving them service as much as if specifically for C they want information right right so that showing homes that's for them to understand that you are their collector of information your honor their fountain of it and that's the environment we know right yeah you know probably a quarter of them or so because even that's not a Carol doesn't assign them Yeah right most museums here it's really just about the agent getting in the habit of setting the exponent of just asking this question once you do it a few times becomes very routine very automatic and guess what that will start to exude from you and they will sign the agreement at that point in time and it will save you a lot more time and a lot more energy and make you like the business more so you're getting paid for your services so guys thank you so much for your time today I really appreciate it