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559 S. Washington Ave., Kankakee,IL 60901

P.815.929.9258 P.815.929.9200

walter@waltersanford.com

I have been using "If I Could Start All Over Again" and have spoken with (so far) seven area top producers - wow!!! Everyone should do this! Daniel H. Peaslee, Century 21

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Salary and Commission Buyer Agents February 10th, 2012 | Posted in Other Interests

Here was a recent quandary facing one of my coaching clients:

Question:

We are running into buyer call ins.  We get statements like “I just want to look at the home.”

Please give me your thoughts on working through this.  What should we say on the phone or in email to the person?  Also, I think if you try to overcome the objection 2 times and they still insist then we would show the person our own listing.  The benefit would be that we can try to talk to them face to face at the showing and it looks good to our sellers if we show our own product.  We will not show beyond that without a meeting.

Answer:

When you have commissioned buyer agents who do not produce leads (as you have), you will not get them to turn down a showing no matter how little information the buyer shares.  If you have a salaried buyer’s agent who handles showings and does the lead generation for secret properties, he or she will be more likely to do what you tell him or her.

We know that a buyer will only participate in a question and answer forum if they are given a reason to do it.  You have to give value.  Tell them this – “If I know more about you, I can show you additional properties that may fit your needs even better!”  If that question does not produce answers to your questions then follow up with – “If I can understand your situation better, I can show you off-market property from FSBOs, our old expireds, our past client database, our advertising your needs to the neighborhood(s) you target.”  If those two given values do not result in the buyer answering a few simple questions, then they are probably one of the following:

A.      A relative of another agent

B.      A current buyer looking for comps to their new purchase

C.      Working with an agent who cannot get away to show the property

D.      A weirdo who likes looking at property but never buys.

Those buyers who will not answer your questions and want to see property should be referred to someone in your office who needs that kind of business.  Is there that small percentage that they might buy from this agent? Sure, but your business is run differently.  For some agents, this kind of business is better than no business.

Once the buyer agrees to answer the questions, finds out you care about them, hears more about your “off-MLS” property — it will be easy for them to speak with a lender to obtain a “seller price dropping” pre-approval certificate.  It will also be easier to get the buyer(s) to sign a loyalty agreement.  If you want to meet them at the property then try these steps, the client has no reason to jump through any hoops since he or she has you jumping through them.

When it is your own listing, I would let up on this a little due to the benefit of the seller seeing you in action.  If you are unsuccessful, it sets you up for a price reduction.

Bottom line: you have more control over a salaried buyer’s agent vs. a commissioned one.

Walter Sanford has been designing and implementing real estate systems for 30 years.  One of the most successful REALTORS® and now wealthy from his systems, Sanford teaches his systems and strategies through his products, seminars, and personal coaching producing the best results in the industry.  Do what works, do what is proven.  Hire Walter Sanford.  Call our office at 800.792.5837, email walter@waltersanford.com, or chat with us online at www.waltersanford.com.

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