Buyer Representation/Consultation
Stevej4homes • February 27, 2025
Since August of 2024 there has been a change in the industry of how buyers and Brokers establish a relationship. A written agreement is needed just for touring homes. Are all agents doing this...No! Should they...YES! The purpose of these changes is to be fully transparent and identify the possible terms of a potential formal written exclusive buyer/broker agreement. (which will be compensation to Broker and duration of contract) Does it cost the buyer anything to sign and tour with an executed touring agreement? NO! It will be plain as day on the agreement. The touring agreement is a way to get a feel for the relationship and to make sure the buyer understands possible terms that will be on the exclusive agreement. My question to a new potential buyer would be... if another Agent already starts the initial process ignoring the new guidelines...how does that make you feel with possible future representation?
Buyer Consult...what is a buyer consult? " I don't need a buyer consultation, or do I?" A buyer consultation can be a sit down in an office, a zoom call, a scheduled phone call, or just standing in a vacant home for 15 mins and allowing the Agent to answer your questions and to fully understand what your goals are. My goal as an agent is to negotiate the successful purchase of the home you will love for many years with great "terms". I met a potential buyer recently and he was very aloof with all conversations. I asked him the question of how long he had been looking for a home? "10 months...I can't get a house!" I initially had the urge to hug him but that would have been really odd. (I'm sure I would have been pepper sprayed) I asked him if he wanted to set up a time to figure out how we can make this a reality and come up with the best game plan. He immediately declined, he said he was possibly working with a few agents. (what does that even mean?) As an agent understanding timelines, changing up price point, choosing the right financing, expanding criteria, finding a motivated seller, are just a few things to get started. Be open to conversations, you will be surprised how much you will actually learn about the process.
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Preparing your home for a private viewing is essential. These are the things you should focus on...
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