On August 17, 2024, a landmark settlement with the National Association of Realtors (NAR) will change how commissions are handled. This gives buyers more control in negotiating their fees and the potential of paying their agent’s compensation directly. As commissions shift and the market adapts, the need to demonstrate your value has never been greater. Creating the right buyer presentation is your opportunity to showcase your expertise and unwavering commitment to helping your clients achieve their homeownership dreams.
Here, we review how to clearly demonstrate your value to help you secure a buyer representation agreement:
Introduce Yourself
Your introduction is your opportunity to make a genuine connection with potential clients. Share your story and paint a picture of who you are, both as a professional and as a person, by outlining key points such as:
- Your years of experience in real estate, highlighting any specializations, such as luxury properties.
- A brief mention of your unique qualifications, including local market knowledge and negotiation skills.
- An introduction to your brokerage, emphasizing its expertise, market share, and marketing exposure.
- Your enthusiasm for real estate and your commitment to helping buyers find their dream homes.
- A personal anecdote or detail that allows your personality to shine through, helping the buyer connect with you.
Explain Your Value at Every Point of the Buying Journey
Break down each step of the home-buying journey, highlighting your role and the value you bring as their trusted advisor:
- One-on-One Consultation:
- Focus on explaining the current process and sharing market insights to determine their key preferences, including location, price, size, amenities etc.
- Getting Pre-Approved or Validating Assets:
- Explain how you can assist clients in connecting with reputable lenders to secure the best possible terms, or, for cash buyers, how you can validate their assets discreetly without disclosing their net worth.
- Finding Their Dream Home:
- Describe how your market expertise and search tools help uncover hidden gems and off-market opportunities.
- Arranging Viewings:
- Share your process for selecting homes, coupled with ongoing analysis to discover if their requirements match their actual preferences.
- Negotiating a Winning Offer:
- Highlight your expertise in leveraging market data and negotiation skills to secure the best price and terms.
- Due Diligence:
- Explain why it’s your responsibility to coordinate inspections and appraisals, ensuring the property meets expectations and uncovering potential issues.
- Closing:
- Describe how you guide clients through the closing process, ensuring all paperwork is complete and accurate.
The Elephant in the Room
The new commission or as many MLS’s advise, “compensation” rules are the elephant in the room but with transparency and confidence, you can position yourself as the go-to expert your clients need:
- Explain the benefits of buyer agency, including unwavering loyalty, protection, and peace of mind.
- Be upfront about how you will negotiate with sellers to cover as much of your commission/compensation as possible, while clearly explaining the buyer’s responsibilities.
- Share your commission/compensation structure and fee expectations with transparency, emphasizing the value you provide.
- Explain why you need to secure a buyer representation agreement before any property showings.
- Ensure everyone is on the same page throughout the process.
Justify Your Professional Fee
Think of yourself as your clients’ financial advisor in the purchase of their luxury home – justify why your expertise translates to real savings and smart investments for them by sharing your abilities, including:
- Your experience in guiding clients toward properties with an eye toward the potential for appreciation.
- Highlighting how your negotiation skills can help improve your clients’ bottom line.
- Emphasizing your ability to protect your clients’ investment through meticulous contract management.
- Sharing examples of how you’ve anticipated and resolved issues to keep deals on track.
- Explaining how your network and connections provide clients with exclusive opportunities and streamlined processes.
Share Your Success Stories and Testimonials
Testimonials are a powerful way to demonstrate your value, but to truly stand out, go beyond generic praise. Encourage your clients to share specific, measurable examples of how you’ve helped them achieve their real estate goals.
- Highlight stories that showcase your negotiation skills, emphasizing the significant savings you’ve secured for your clients.
- Share success stories where your expertise led to finding properties that have since appreciated in value.
- Additionally, illustrate how your deep local knowledge and connections with trusted professionals have enabled your clients to make informed decisions. These should align with their lifestyle, budget, and long-term goals.
Conclusion
In the evolving landscape of real estate commissions/compensations, your buyer presentation is the key to demonstrate your value. Showcase your market expertise, negotiation skills, contract knowledge, and steadfast advocacy. This will provide a compelling and comprehensive proposal that sets you apart.
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