HOW TO EFFECTIVELY INCREASE YOUR VALUE AS AN AGENT NOW! - NAR Settlement Continues
Good Morning Team!
Now more than ever has there not been a better time to readjust your 2024 Business Plan and get laser focused?on what's coming. As a Canadian Realtor I'm getting phone calls and reach outs from past clients, friends and even NEW* leads that are all very aware of what's happening in the States and in today's video Tom Ferry opens up with just how many listings on 1 board are already not offering a buyer agents commission.?
This doesn't just all land on clients making this decision by the way. As of right now it's not mandatory so that means a Listing Agent has lowered their fee (or chose not to offer commission to the buyer's agent) in an attempt to sell the house themselves. I already know what's going to happen here. The weak agents will carry out this type of a strategy just to land the listing, listings won't sell and they will all exit the industry?leaving us good agents to pick up the pieces.?
Sellers and Buyers have NEVER been forced to work with an agent. Whether?buying or selling you can always do that without an agent right now. You can pay a mer listing* brokerage to get access to the MLS. So why use an agent at all?
That answer is about, if not already, going to get a lot more complicated and you better be good at articulating that.
Top Qualities?You Will Need To Be A Better More Valuable Agent;
1. Knowledge: To increase your value you need to increase your knowledge. Understand the market trends, neighborhoods, upcoming developments, and industry jargon. This expertise builds trust with clients and positions you as an authority in the field.
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2. Skills: Developing skills such as negotiation, communication, and problem-solving is crucial. These abilities enable you to effectively navigate transactions and provide exceptional service to your clients.
3. Strong Support System: Being a part of a team or community that you can lean on for support and coaching/accountability. Surrounding yourself with a reliable network of professionals including lenders, inspectors, and contractors enhances your ability to deliver seamless transactions. This support system ensures your clients receive the best assistance throughout the buying or selling process from every aspect.
4. Knowledge of the Buying Process: Being able to articulate your value and every aspect of the buying process, from understanding potential challenges to explaining financial responsibilities like mortgage payments and utility costs, instills confidence in your clients. Your expertise allows you to guide them through the complexities of purchasing a property while safeguarding their interests.
5. Mastering the buyer consultation: THIS STEP CAN NOT BE MISSED. IN PERSON OR ZOOM BUT IT GETS DONE BEFORE YOU MEET THEM AT A PROPERTY!!!! By conducting a very thorough buyer consultation, you gain insights into your clients needs, wants and priorities. Tailoring your approach to meet their specific needs and articulating the value you bring as a realtor reinforces your credibility and justifies your professional fees. If you are skipping this step you skip the chance to explain your value and THAT'S WHEN CLIENTS GHOST YOU!!!
You all have the ability to win and win big. This is a professional industry and it's about time more agents start treating it that way. Get serious, get focused and do not take this industry for granted. Gone are the days that agents?can fly by the seat of their pants. You?have to be laser focused, no one will do this for you. Teams, brokerages, they will only support?those willing to support and invest in themselves! Everything else hurts their brand, services and ability to grow.?
BE GREAT, ACCEPT ONLY EXCELLENCE!
-AP