Special offer

Sharing the dough...

By
Real Estate Agent with BPO Realty LLC

I give myself a raise by adding an assignable buyer's agreement at the end of the listing agreement. Why??  Because, I know they will be moving somewhere. I offer my customers the service of interviewing Realtors that service the area they are moving to, and find them one that best meets their needs. My sellers feel like they are getting full treatment when they start receiving searches, school zone information and even discounts to hotels and restaurants or exchange rate info if they are moving to another country, they can start forming a relationship with that Realtor from the moment I take their listing.  The Realtor receiving the referral loves to take care of the customer, especially because they come with a buyer's agreement, I also inform the other Realtor about, the progress of the sale to give them heads up about how fast or slow they need to move, and how many kids, or pets they might have. I also do a little research first to see if there are builders that fully cooperate with the commission and I go ahead and pre-register the buyer. I found out that 5 times out of 10, they go for it because it is one less thing for them to worry about. I also ask if there is someone else that might be moving that I can offer this service to. I was able to get 2 more referrals once from just asking that question, and even though the other two neighbors were already working with realtors to sell their listings, they didn't have realtors that would work with them on the homes that they were going to purchase, my sellers even called them and gave them my number, before long I had 3 signed buyers agreements and 3 more referrals. Now you can also give yourself a raise. If your sellers are heading my way to buy... I will gladly take care of them and share the dough with you.

 iwantmyownroom

Comments (24)

Sharon Simms
Coastal Properties Group International - Christie's International - Saint Petersburg, FL
St. Petersburg FL - CRS CIPS CLHMS RSPS
Interesting concept -- I do the referral aspect, but have never thought about an assignable buyers agreement.
Nov 20, 2006 10:14 PM
Lucky Lang
Premiere Plus Realty Marco Island - Marco Island, FL
Marco Island & Naples Florida Real Estate

What a great idea!  We don't have an assignable buyers agreement in our area yet (it's Iowa).  Would you please send me an example?

Thanks!

Lucky

Nov 20, 2006 10:20 PM
Ann Cummings
RE/MAX Shoreline - NH and Maine - Portsmouth, NH
Portsmouth NH Real Estate Preferrable Agent

Rosa,

What a terrific idea!  I love getting the signed buyer contract for the referral end of things.  Great post!!

Ann Cummings

Nov 20, 2006 10:32 PM
Eli Magen
New World Mortgages,(Mortgage Company) - Orlando, FL

Rosa, This is brilliant idea. Thanks for sharing.

Eli,  www.AbsoluteFloridaMortgage.com

Nov 20, 2006 10:58 PM
Cynthia Sloop
Community Association Manager - Indianapolis, IN

Thanks for that tip!  I will remember that one!

Nov 20, 2006 11:49 PM
Anonymous
Caron Mosey
Absolutely perfect idea! I think I need to start putting these documents in with our listing agreements!  Thanks for the idea!
Nov 20, 2006 11:51 PM
#10
Joanne Brown
Rockland County Real Estate - Nanuet, NY
I never heard that one, it's excellent.
Nov 20, 2006 11:55 PM
Karen Hurst
RICOASTALLIVING.COM - Warwick, RI
Rhode Island Waterfront!

Rosa,

I too would like to see an example if possible. Great idea and something I never thought of.

Nov 21, 2006 01:16 AM
Brian Brady
Matthews Capital Markets - Tampa, FL
858-699-4590
What a great idea.  I'm wondering how I might do that from the financing end.  I love this creative thinking!
Nov 21, 2006 01:22 AM
Suzanne Marriott
Keller Williams Arizona Realty - Anthem, AZ
Associate Broker, CLHMS, e-PRO
Rosa - Yet one more request for a sample copy of the assignable Buyers Agreement!  Would really appreciate it - Thanks!
Nov 21, 2006 01:30 AM
Dick & Sandy Beals
Wilmington Real Estate 4U Wilmington, NC - Wilmington, NC

Great idea........Relo companies are you listening?

Dick & Sandy Beals

Nov 21, 2006 01:36 AM
Leigh Brown
Leigh Brown & Associates, RE/MAX Executive - Charlotte, NC
CEO, Dream Maker - Charlotte, NC
that's a great way to lock down a referral-thanks for the idea!
Nov 21, 2006 01:40 AM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

I think this is a great idea.  I'm wondering if this is state specific, or how enforceable it is for someone relocating out of state.

Nov 21, 2006 02:27 AM
Geri Sonkin
Douglas Elliman Real Estate 516-457-7103 - Merrick, NY
Long Island Real Estate & Staging Expert

Most of my listings have already made the connection in the area of their choice before they list with me, but I'll certainly keep it in mind (if it's something we can do here) for the future.

I would love to see the type of agreement you use.

Nov 21, 2006 03:04 AM
Jessica Hughes
Ambiance Staging - Boulder, CO

I will certainly keep that in mind for next time I invest out of state; though I think through AR I will never suffer for want of a decent realtor again.

 

Nov 21, 2006 04:14 AM
Michele Connors
The Overton Group, LLC Pitt & Carteret County - Greenville, NC
Your Eastern North Carolina Realtor
looks like we all want to see the doc!!! Can you link it to the post or simply email us - thanks Rosa !
Nov 21, 2006 04:26 AM
Eddy Martinez
Nationwide Funding Group - Highland Park, CA
wow this is some excellent OTB (outside the box) thinking. Your netowork will explode due to this unselfishness.
Nov 21, 2006 05:58 AM
David Love
David Alan Love, Realtors - Merced, CA
CRS,GRI,SRES,CDPE
Great idea. If my clients have not contacted a destination Realtor, I tell them I will find someone we all can work with.
Nov 21, 2006 01:13 PM
Rosa Elena Martinez
BPO Realty LLC - Lake Worth, FL
CIPS, RECS, ePro,WCR

contract

I use a licensed service provided by Instanet.com it is available through Planetrealtor.com the form is EBBA_4 Buyer Broker Agreement. I use forms online gold. I would love to send you a direct link but I don't know if that violates licensing agreement so I can't take that chance. If you click on the contract above it will take you to PlanetRealtor.com I am sure they can help you get a copy.

I want my own room

Nov 21, 2006 11:58 PM
David A. Podgursky PA
THE PODGURSKY GROUP @ Re/Max Direct - Boynton Beach, FL
THE PODGURSKY GROUP - Make the Right Move!

I'm a little late at commenting on this - I just joined last week though!

I like this idea.  You're way ahead of the curve on referral generation.  I often find that there are hidden loans when I talk to people.  They have a few properties they don't discuss right away but when I find out that they have a lot of equity in one place, I can talk to them about using that money to not only add to this transaction but either upgrade or buy even another property.

I believe that I can CREATE Buyers as well.  My philosophy to work with realtors is that I can help you not only make your present clients happier... but I can help bring your past clients back to the table to buy again.  I can also help grow your business by helping you capitalize on the missing transactions - for instance your past client is a doctor that has been considering buying his office space... or the avon rep down the street is exploding and needs a small warehouse to store her goods.

Anyway you look at it, you're doing a great job.  If I can be of help in furthering your ability to create multiple transactions - please let me know!

 

Feb 14, 2007 01:36 PM