In this episode Michael Fanning talks about leading through change, specifically using Buyer Brokerage agreements.
1. Buyer brokerage agreements have been around for 30 years already. 14 states have been consistently using them, so this is not new. However, many agents have not been using them regularly or properly.
2. There are some valid reasons why buyers may not trust real estate agents, like conflicts of interest, lack of transparency, and inadequate communication. Agents need to address these issues.
3. During times of change, agents can either be negatively or positively impacted depending on their perspective and competence. Most agents are not taking this seriously enough.
4. Agents should focus on the 80% of buyers who will pay if they perceive value, not the 15% who always want a discount. Clearly demonstrate your value.
5. Educate yourself thoroughly on the forms, laws, and reasons for buyer broker agreements through all the resources Windermere provides. Convert knowledge into true understanding.
6. Appreciate and utilize all the resources and benefits your associations provide, like NAR. Don't just be a member on paper.
7. Have a consistent 10-step buyer process, properly introduce documents and agreements, and have transparent value and pricing conversations.
8. Frame the buyer broker agreement positively, focus on the gains, and set the right tone. Don't frame it as an apology or requirement.
9. The buyer broker agreement is just like any other contract and needs to be used regularly to create relationships and meet client expectations.
10. Change can be challenging but presents opportunities for growth. Keep learning, have an abundance mindset, and help clients navigate industry changes.
Do Hard Better video. https://youtu.be/oDzfZOfNki4?si=xMMWJPd52up3vp7M
--- Support this podcast: https://podcasters.spotify.com/pod/show/askacoach/supportSeason 7 Episode #3. "Navigating the Rental Landscape: Insider Insights from Windermere Property Management"
Season 7 Episode #2 "Burned by Skyrocketing Home Insurance? Moreland CEO Shares Must-Know Tips"
Season 7 Episode #1. How to Get Referrals Without Asking: A Blueprint from Expert Stacey Brown Randall
Season 6 Episode #5. The Social Media Playbook: 10 Game-Changing Tips from Marketing Pro Katie Lance
Season 6 Episode #3. "Getting Your Home Ready to Sell with Ease: How Windermere's Ready Program Takes the Stress Out of Preparing Your Listing"
Season 6 Episode#2 "Realtor Safety: An Agent's Terrifying Attack Story & Tips to Stay Prepared"
Season 6 episode #1. "10 Ways to Turn Anxiety into Optimism - Actionable Tips from Matthew Ferrara"
Season 5 Episode #10 The Referral Goldmine - How to Maximize Referrals in Real Estate.
Season 5 Episode #9. Transform Your Relationships With These 4 Powerful Principles.
Season 5 Episode #8. Delivering 5-Star Service in Real Estate with video and much more.
Season 5 Episode #7 "Excellence in Action: How Windermere Sets the Bar for Real Estate"
Season 5 Episode #6. Show up, be giving, and be consistent, and most importantly be Iconic. With Sara Monzo
Season 5 Episode#3. Upping your game when it comes to taking care of the people who refer you.
Season 5 Episode #2 Upping your game when it comes to open houses.
Season 5 Episode #1. To create a standard operating procedure it begins with using checklists in all aspects of your real estate business.
Season 4 Episode #10. Matthew Gardner talks about the National Economic climate for Buyers and Sellers for the remainder of 2023.
Season 4 Episode #9 Why should any level of Realtor experienced or new consider coaching to help them navigate any real estate market?
Season 4 Episode #8. DEI with Windermere Real estate. The 4 pillars inside the Windermere world as it pertains to DEI.
Season 4 Episode #7. What is happening with Property Management in 2023. Are rents going up and is there equity in your investment homes?
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