Buyer represenation is a relatively new business model in the world of real estate sales, and many of us are reluctant to ask buyers, to sign a representation agreement. This reluctance stems from the inherent diffcultiesof altering long-established mindsets and ways of doing busines. But don't be fooled on this point. Buyer represenation has grown by leaps and bounds, and REBAC now represents the largest of the NAR Institutes, Societies and Councils.
As I see it the real estate is reside doesn't reside out in the industry, or even with our customrs and clients. It resides with each of us. Any buyer's representative can successfully clear the getting buyers to sign hurdle. But to do so, you must take the time and effort to gain clarity on three closely connected issures, all critical to your success as a buyers rep. They are; your level of knowledge; your legal obligations; and communicating with clients.
Before digging into these three areas, its important to first get a handle on your own goals and how buyer representation fits into your business model. Maybe you are just starting out and do not want to eliminate any possible opportunities. Or, maybe you have honed your skills through experience to the point that you are comfortable deciding that you will only work with buyers if there is a written agreement.
In either case, this is a personal decision. The point is that you have to be very clear about this up front, because it will drive everything else; how you present yourself and interact with buyers every step of the way, from the very first time you meet them, either on the phone or in person. And if you are not clear about your own goals. you also run the risk that buyers will push you in directions that don't match up with your objectives.
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