The most common topic among buyers is not knowing or understanding how Realtors work or get paid.
Some of the assumptions they make:
--They must call each Realtor from each property listing and do not realize they can work with one Realtor to show them all properties.
--They assume you are working for them because you are showing them properties.
--They drive down the street and see a property they like and call to ask you if they can see it. They have no idea if it is within their budget or parameters they have set in their needs
--There is also the misconception that Realtor's get paid by the company they work for.
Do not make the mistake of assuming your buyer knows how things work. One of the most important aspects of being a Realtor is to educate and inform. You risk the loss of a commission if your buyer does not understand how we work.
Things to make sure you cover on your initial consultation.
--Explain the buying process to the buyer, and the difference between working for the seller and working for the buyer.
--Discuss the ability to show any home in your MLS area and help them to understand how you get paid.
--Find out their expectations of you and the defined expectations of what they want in a home.
--Make sure they understand your process in sending them listings based on their defined expectations
--Get a buyer agency contract if possible and explain to them the benefits of this contract.
--Determine also if you want to work with them
--Make sure they have discussed their financial situation with their lender and they understand all the details of the type of loan they plan to obtain.
--Remember to use your intuition and safety
By setting all these expectations before hand will save you time, and possible loss of a commission or even that phone call wondering why you didn't send them that property over on Main St to view when the property on Main St is not within their budget or needs. You will find it very frustrating if you show them 40 houses and they call another Realtor to write the offer or they have not even received an indication the lender can lend them to purchase a home at this time. HAPPY SELLIING!!
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