Oct 25, 2021
As we look toward the future of real estate, many realtors fear that an increase in buyer agency will render them obsolete. In this episode, Matt and Garrett are here to tell you that this could not be further from the truth. In fact, buyer’s agents are worth their weight in gold right now, and this is not going away any time soon.
Our hosts explain why agents are still so crucial to the buyer experience, and talk about their shared pet peeve for the idea that buyer’s agents are free. You’ll hear about taking the perspective of potential clients, having a strong process and structure in place when working with buyers, and making your value clear up front. Garrett gives an update on his buyer’s packet extravaganza, and Matt throws his own challenge out to listeners, but with a very intriguing caveat.
If a purchase is risky or complex enough, people need to bring in a professional for guidance, which is why agents will always be necessary regardless of the market. If you’re providing the highest level of service and fully embracing being an amazing buyer’s agent, you can absolutely find a high rate of success within this realm of the industry, and today’s episode offers a fun and entertaining jumping off point for you to do just that.
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Episode Highlights:
- Today’s episode is all about buyers and buyer’s’ agents
- Buyer agency is poised to explode in the next 5 to 10 years, but agents are still necessary
- Buyers should have an incredible experience when they are buying their homes
- Analogy of travel agents helping you make the most of your vacation experience
- Buyer’s agent is worth their weight in gold - that’s not going away
- Pet peeve around the idea that buyer’s agents are free
- Value of process versus presence
- Taking client’s perspective
- Having a process and structure in place for working with buyers
- It’s important to make your value abundantly clear
- Power of a good buyer’s packet and update on Garrett’s challenge
- Matt invites listeners to send him their buyer’s packets as well, but you’ll need to do a little digging
- Garrett’s mailing address can be found here
- If a purchase is high risk or complex, the average person needs to bring in a professional to guide them through it
- This is why agents will always be needed, regardless of the market
- You can start taking steps now to ensure you’re providing a high level of service
- Be okay with being an amazing buyer’s agent - embrace it and own it
Quotes:
“One area that I think is going to really explode over the next five to 10 years is buyer agency.”
“I do think we're going to be moving into a place at some point where buyers are going to be seeking out professionals to help them with the experience.”
“The buyer's agent - a good buyer's agent, a really good one - is worth their weight in gold right now.”
“My biggest, biggest pet peeves is the statement of, You should work with a buyer's agent because it's free for you as a buyer. Oh my goodness, it makes my skin boil because it's so not true.”
“At the end of the day, people should be hiring you for your process, not for your presence.”
“Working with buyers is absolutely miserable when you don't have a good process.”
“You have to first have that mentality of loving working with buyers, creating an amazing process.”
“A lot of people don't put as much attention into the buyer process as they could.”
“That's the beauty of a good buyer's packet.”
“Having a really amazing advocate or team of advocates on your side to help you find the right neighborhood...that would fit all the needs and desires that you have - Oh man, that's huge, huge value.”
“If the risk and the complexity is there, and the risk is high enough, what we do is we get a professional team involved in it.”
“Be okay with being an amazing buyer's agent.”
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