Sign California Banking Agreement Myself

Sign agency agreement template

hey there it's kevin ward with just master's real estate success training i'm going to call this my realtor question of the week this is from a video i shot on youtube on the seven things i wish i'd known as a new real estate agent this is from kashi or keisha thomas she's i'm a new real estate agent i'm only three months in but i have been uh but i come from a background in multi-family housing for the past 15 years so she's talking about buyers how do i get buyers to sign a buyer representation agreement that's the short part of the question she said i've had some lead leads from some open houses but what i'm realizing is that it's really hard to get them to commit to signing a buyer's representation agreement any tips on this do you show a few houses that first and then get them to sign or do you get them to sign before you show i've tried it both ways and each time they stop responding to me after the buyer's rep is sent so there's a really great question from a new agent and that is how do you get buyers to sign a buyer broker agreement so i'm going to reframe the question and say the real question is not how do i get them to sign an agreement the real question is how do i get them to commit to work exclusively with me because that's really what you're doing here is it is about making a commitment so the first is i have to lead with the commitment so i'm going to give you a couple of ideas and just to understanding so number one i did not like working with buyers as a real estate agent i was trained from the beginning that listings were the name of the game and so i was like i want listings i don't want buyers and so i was very good at getting listings i was not so good at winning with buyers because i didn't like them much and they could tell they could feel it and so when you have this mental approach it's like i don't want to work with buyers if your attitude about working with buyers is negative like me they're not going to want to work with you because that negativity leaks no matter how much you try to fake it or hide it or pretend like you like working with them it's just going to show so i had to shift my thinking and that is that buyers are awesome now what i didn't want to do was i didn't want to waste my time one with people that were not going to buy at all they weren't buyers they were just lookers didn't want to waste my time with that and so that to do that i want to pre-qualify them not only for financially getting them pre-approved for a loan but also pre-qualify them for motivation are they actually ready to buy a house and that is what you do in what i call a buyer consultation okay and the second thing is i didn't want to work with a buyer that was going to use me and all my time and i show them a lot of houses and then use somebody else not buy a house with me because then i've wasted all that time so first is you got to check your attitude about buyers and you have to be excited about what they're excited about now what are buyers excited about here's what they're excited about they're excited about the houses they're excited about getting a house they're excited about looking at a house and it's kind of like going to a used car dealer or car dealer and going like you know they will welcome you hi how can i help you today well i'd like to i want to test drive a car and they go like well great we'll do that but first we're going to take you and we're going to take you to our financing department now if you went to a car dealership and the first thing they tried to do is get you go to the financing department you would run for your life right because you're not excited about getting financing you're excited about getting a car so what happens is a lot of times we focus on what we want rather than focusing on what they want and what we want is to not waste our time what we want is to get paid for the work we do so we focus on getting them to you know sign an agreement and get pre-qualified because that's them committing to us but they look at that as i'm trying to get something from them and they go like you're just trying to get something from me i know what you're doing you're trying to get me to you're just trying to get a commission and when people feel like you are there to get rather than to give you're going to always get resistance so i have to flip the script i'm going to shift my focus from what i want to what they want they want a house i've got to be excited about helping them get a house awesome i love helping people get houses and because there's so many uh opportu people out there that i work with i only have time to work with a select few of clients that i can really help and give vip service to so what i'd like to do is just set up time for us to get together and sit down and talk about what you're looking for start looking at some houses and decide if we're a good fit to work together so that i can because i really give all my attention to my vip clients and i want to just sit down and visit with you and see if it's a fit for us to work together and have you as one of my vip clients and you set up a consultation so the first thing that happens in this comment the question that keisha has is she says i've tried it both ways and each time they stop responding to me after the buyer's rep is sent very telling here and that is that that she is trying to sign them up by sending them a contract sending them a buyer representation agreement which basically is before i spend time with you or before i spend more time with you i need you to sign this commitment that i'm going to get paid that's the way they look at it okay so one you want to do this in a sit-down this is number two actually first i want to as you got to get excited about what they're excited about number two is you want to have a face-to-face meeting one-on-one consultation a buyer's consultation is we're going to sit down we're going to go over the process we're going to find out what your goals are we're going to start looking at houses which means i'm actually going to get with them on the mls and start looking at houses with them and finding out what they want before we actually start going out and look at houses because what i don't want to do is go out and show you a bunch of houses mr miss buyer that you're not interested in that aren't a fit for you so for me to understand your needs and really be able to help you i need to know what you're looking for because i have a lot of resources beyond the mls to help find uh properties and so forth for you so wouldn't it be a good time for us to get together so you're going to have a sit-down meeting with the buyers now once you have a sit-down appointment scheduled wouldn't it'd be a good time for sit down the best is if they come to your office if they're in a different area or where they're going to be looking is different area and where they're going to be buying as a different area and they live there then i may want to go and meet with them at a third party location title companies are great because they have conference rooms i can meet with them there that's that's better than meeting with them like it at a starbucks uh because it's tend to be a noisy environment and i don't have a good internet connection and all of that but the key is i want to be in a face-to-face sit-down meeting with them and at that meeting i want to give them value okay here's what i do and i help you get the right house best terms and price and i work with clients who are ready to buy a house now now now i can have a chance to build relationship to let them see i'm here to help them and i'm committed to helping them get into a home all right and then the third thing is when we do sign the buyer representation agreement we're we're making an agreement to work together so the only thing that i ask is i'm going to spend a lot of time and i'm committing a lot of my time and effort to help you guys not only find the perfect home but also to help you get the best deal on that house and that's what i do for my vip clients so all i ask in return is that i'm if i make that commitment to you guys and we feel like we're fit i'm asking you would you will you commit to work exclusively with me absolutely so we have we just have a simple buyer representation agreement and it's just basically saying i'm committed to working with you and helping you get the best find the right home and get the best deal at home and you're committing to work exclusively with me it doesn't cost you anything you guys are not paying the commission uh the list the seller pays my commission so i work for you guys essentially for free and i don't get paid until we actually help you guys find a house and get that house all right so that's the conversation so that is the third thing is i want to it's a simple win-win conversation that says i'm committing to you and i ask you to commit to me and at that point if they don't if they're not willing to do that it tells you they're probably not a good fit for you so one i've got to be excited about what they're excited about too i want to sit down with them because that's how i find out if they're really motivated and ready to sell a house and then three is the buyer representation agreement is a win-win so that they see that i'm giving them commitment to them not just them giving a commitment to me so it's me giving something to them not getting something from them and when you do that it is a beauty to work with motivated uh buyers they take time there's leg legwork involved but they are fun to work with when you know what you're doing and when they're motivated to help them go out and find a house and get it now there's a whole lot more but that was the answer to this question if that this video is helpful for you make sure you give it a thumbs up ask other questions but down below that will help me know what you need more help on play to win and always expect [Music] [Applause] yes you