Buyer Agency Agreements Means More Closings

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Anthony Lamacchia – May 24th, 2018

Do you want to do more buyer transactions, help more buyers find homes, help more buyers achieve homeownership, make more money working with buyers?Well, today at training we talked about how to do that and we talked about we have this whole course where we talk about from the time you get the buyer lead to the time you close a buyer in today’s part was on the buyer meeting which is one of my favorite parts.

Having a meeting with a buyer, going over the consultation, talking them about the steps to the home buying process and getting them to sign a buyer agency agreement. We went over this today in depth and I know there are several realtors out there across the country, around here in Massachusetts that don’t even bother to use buyer agency agreements which is amazing to me because when you sign up a listing, you always use a listing agreement, why not use a buyer agreement.

A buyer agreement does great things, it sets the correct expectations with the buyer for what they should expect that you’re going to do, what you expect out of them, walks them through– It basically forces you the realtor to walk them through the buyer process and know what to expect. We started using these religiously in 2012 and our buyer business nearly doubled– Well no, 2012 to ’13 it more than doubled and then it nearly doubled or doubled every single year since then and the buyer agency agreements is a big part of that.

I’m going to give you another tip. Use a one-page simple buyer agency agreement that very simplistically lays out what’s expected out of you, what’s expected out of the buyer and that’s it. Our state and our association puts out a good buyer agency agreement, legally it’s very buttoned up, it’s very good, but it’s too much. We used it years ago, one page, two pages, three pages.

Yes, of course, legally speaking, the state one is stronger, will protect you better, but it will also scare away more buyers. You’re better off using a simple one like we created here at our company. If you use a simple one more buyers will sign up and are going to commit to you and you will do more business because of it. Don’t worry about the 1% chance that you need an agreement that is so strong every two years because if a buyer bails out on you.

If you’d like to see our buyer agency agreement and how simple it is, go ahead and post your email here in the comments and we will email this buyer agency agreement out to you on Monday, we’ll do it in one group email. Between now and Monday, we will send this out to you either between now and then or more than likely we will do it on Monday at once.

If you want our buyer agency agreement which is one simple page that we use here in Massachusetts and New Hampshire in Rhode Island, we’ll send it out to you, you can change it, make it fit for your state. Thanks very much everybody, have a great day.