New Buyer Agent Rules: Exclusive Buyer Agency Agreements

It's time to polish your Buyer Process. There has never been more urgency than now to ensure you're operating professionally, showing your value, and staying compliant! Welcome back to America's #1 Daily Podcast, featuring America's #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris? Visit: https://whylibertas.com/harris or text Tim directly at 512-758-0206 IMPORTANT: Join #1 Real Estate Coaches Tim and Julie Harris's Premier Coaching now for FREE. Included is a DAILY Coaching Session with a HARRIS Certified Coach. Proven and tested lead generation, systems, and scripts designed for this market. Instant FREE Access Now: YES, Enroll Me NOW In Premier Coaching https://premiercoaching.com Get out of freak-out mode and into action so you can survive the changes and thrive in the new market. Just in case you've had your head in the sand for the past week and a half, there are two significant changes to pay attention to as a result of the NAR Commission's Lawsuit Settlement. HUGE Announcement: You will love this! Looking for the full outline from today's presentation? Our DAILY Newsletter featured lead generation systems, real estate scripts, daily success plans and (YES) the notes or today's show. Best part? The newsletter is free! https://harrisrealestatedaily.com/ The settlement agreement mandates two critical changes to how members and MLS participants transact. #1: NAR agreed to create a new MLS rule prohibiting offers of compensation on the MLS. This would mean that offers of compensation could not be communicated via an MLS. Still, they will continue to be an option consumers could pursue off-MLS through negotiation and consultation with real estate professionals. Remember: just because commission isn't listed in the MLS does not mean that commissions have disappeared. Don't believe the media; they're wrong! Ready to become an EXPIRED Listing Agent? As promised, here is the discount link for the EXPIRED LISTING LEADS: https://www.redx.com/affiliate/tim-and-julie-harris/ #2: NAR also agreed to create a new rule requiring MLS participants working with buyers to enter into written representation agreements with their buyers before the buyer tours a home. NAR has long encouraged its members to use written agreements to help consumers understand exactly what services and value they provide and for how much. REAL ESTATE LEADS, LEADS and more LEADS: Question: What is Tim and Julie Harris's favorite PROBATE LEAD PROVIDER? Simple, alltheleads.com/harris Today, we'll concentrate on #2. What is your plan to obtain a buyer's signature on the representation agreement? What is your experience with this so far? You probably fall into one of these three categories: 1. No problem. You've been doing this for months, years, or even decades. You have a presentation and a buyer system, and it's business as usual for you. You're relieved that now, everyone will have to be as professional as you've been! Nice work! 2. What are you talking about? I work with people who already trust me, and I've never had to worry about their loyalty. How do I ask a friend to sign an agreement with me? 3. What's a Buyer Agency Agreement? You've only completed the state agency form and have yet to really consider this. Whatever category you fall into, it's time to get serious about following a system that will result in the required agreement. This isn't just to be compliant; it's to have a transparent, specific agreement and expectations with your buyer clients. Of course, we drill down on this more completely in Premier Coaching. On this podcast, we're giving you an overview. Your 8-Step Buyer System 1. Generate the lead. Things to consider: Where do your buyer leads come from currently? What are you spending (or not spending) per lead?