Understanding Buyer Broker Agreements (3CE) - Virtual

Description

Have you ever felt like saying, “Buy from me or get out of my car.” You work with a buyer for days on end, drive them to every house they want to see, only to find out a week later that they used their Great Aunt Lucy, who has a real estate license, to buy a home? Loyalty seems to be at an all-time low. The internet helps buyers gain tons of information and we as licensees have to prove our worth and value even more today. Why should a buyer pick one agent to work with and be loyal? Is there a way a buyer can do that? We ask sellers to commit to one brokerage with an agreement so why don’t we ask buyers for the same commitment? Let’s find out how. Objectives: After taking this class students will be able to: • Explain the importance of working exclusively with a buyer. • List ways the associate can find buyers to work with. • Determine which agreement is appropriate when. • Understand how written agreements protect both the customer and the brokerage. • Understand what an exclusive representation means when working with a buyer. • Explain what an exclusive representation doesn’t mean when working with a buyer. • Understand what types of agency relationships are authorized with an exclusive buyer broker agreement. • Determine when a showing agreement form might be better utilized than an exclusive representation. • Understand how to properly fill out an exclusive buyer broker agreement. • Understand how to properly fill out a showing agreement. • Explain to a buyer the importance of the agreement and how to present it. • Understand the Arbitration Hearing process and how clear written agreements between the buyer and seller can avoid confusion with procuring cause.