Why your real estate agent isn’t showing you all the houses.
Why your real estate agent isn’t showing you all the houses? Hi coach Todd Miller here filling in for Coach Tom Ferry. If you watched the last video that I did it was about buyer-broker agreements and how to get them signed so what I want them to do is give you a useful technique that every time if you do it right you are going to get a buyer to how I agree to work with you but sign up our broker agreement. It is a very simple technique you may have heard of it before but this does not work, okay.So there is two reasons that a buyer is calling a bunch of real estate agents, one is that the real estate agent doesn’t make the buyer important. The second reason is that the buyer doesn’t feel like the real estate agent is showing them all the properties that are available and there is a reason for that. The truth is the buyer is not going to see all the property so what you have to do is demonstrate to the buyer by working with you they are going to see all properties.They won’t need it just start randomly calling real estate and this is how it works. So the first thing you do is you have to explain to the buyer that in order to be important in the that these tell me that is you know the age is going to pay attention to and that you have to be on their A list you know that we are working with a lot of real estate aid, a lot of buyers and that the buyers on the top of the list, the ones maybe in the top you know 10 who have agreed to work with the agent are the ones that are going to get attention and they are going to get good service.Well the second thing is really to make them understand and get them to see why they are not going to see the houses but with you and a by broker agreement they will and this is how. So what you do is you explain to them very simply that all real estate listing agents don’t always pay a certain amount to the buyer’s agents so for example we will look at a bunch of houses that are for sale.And this one here is 3% of commission and this one here is the 3% commission. Well this one here is 2-1/2% commission and this is to, this is 1-1/2. Well so what your average real estate is going to do is real estate is going to say, “Hey you know what I will show these two houses to my client and now I may even show this one but you know these over here I don’t think I want to show now.”So what you do is with a buyer-broker agreement this is your tool and what you say is very simple. You hire me in writing, you guarantee my3% commission. I will show you all the houses that are available. The 3%, the 2%, and the 1-½% you are going to see all of the houses. Now here is the thing if you find one of the houses maybe it is this right here 1-1/2 % and you know if the time I show you the property, I will explain hey it is 1-1/2% so one or three things is going to happen either we are going to ask the seller to up the commission or we are going to ask her some closing cost to cover the commission for you or you just paid the difference out of your pocket.You know either way is fine but the truth is you have the choice to do that now. And why this works is simple. If these houses are 200,000 and this house is 190 and you are getting a deal on the house because agents won’t show it. The sellers had to reduce the price. It is a good deal for you, because the amount of commission you are going to pay is a lot less than the difference in the value of the house. So very simple technique, it can be used every time to get them to commit in writing, you can then show them all the houses that are available, you don’t have to — coops are and then they get to be the ones to choose whether or not they want to make up the difference.So anyway that is my update for today and I hope that it was something you can use out there to make more money in your business. Thanks for tuning in.