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Just a note on when she said they will add a disclosure about if you don't pay a buyers agent a commission and as the listing agent if it doesn't sell then it's not our fault... in the sellers eyes that might not come off well because then they might be thinking then why am I even using you to sell my house if you can't sell it or find the buyer to buy it? And have to rely on another realtor to bring a buyer instead of you finding a buyer?
I just learned today THE BEST PRACTICE FOR SELLER AGENTS: Do not try to soft or hard sell the buyer comp to your seller. Just leave it to any buyer agent to present what they want and present it with the offer and a net sheet. The fear is the old school agents won't show the listing and properties will sit, but really this ship has sailed and we will all learn and evolve or leave the business. Not hard selling or "encouraging" the buyer comp be built in seems like the legal safe space to me.
On the role play question with Lisa regarding "so what if the buyers agent doesn't request that much"??? If I already have a listing contract stating 3% to buyer agent (today-Not July). A buyer agent comes in for a showing, and buyer offers 2% to their buyer agent on their contract, DOES their contract supercede what I originally offered on my listing contract?
If the days on market increase because the buyer agent commission is lower, then that pretty much proves the point that steering was going on, which was one of the reasons they lost the lawsuit. I am not sure your scripts are helping the view of agents that you think they are.
@@KaranSingh-wu8qq I "steer" my buyers to what will suit their needs and make them happy. Many times it is NOT the most expensive property or the one with the highest commission.
Not necessarily, I've had clients not want to see properties because they didn't offer a fair BAC. Now, with these new guidelines. Days on Market may increase because the terms may not allocate the extra funds to pay a Buyer's agent so they may go with another property. It's just important for agents to have this conversation when they get the Buyer Broker Agr signed.
As if you’re Thom, how do I get all that information that you have shared on this TH-cam video? How will I receive it? Do you need my email? Do you have my email? Please let me know. Thank you what a great panel thank you.
Agents have been forcing full fees for decades under the premise no buyer's agents will steer purchasers to them. Your scripts will not work when most sellers feel your fees are too high. There is a storm building, and many of you will not be prepared.
@@dillonJwilson spoken like a true realtor...look out for my paycheck before showing a home that would fit my client's need ..yep you're a realtor zero doubt
@@mikesmith1702 So you want the realtor to work for free? while other realtors are offering compensation and you decide not to? they will still show it but they'll ask the buyer if they are willing to compensate for the difference.. which most buyers will say no.
@@dillonJwilson I am not saying buyers agents should work for free or that they're not of value. What I am saying is they should be paid by their client. I'll assume your response will be they don't have the money to pay them. To which I'll respond assume your buyer does have the money- some do- and ask those buyers to pay you $30K for a 1M house. Never going to happen. Point is the amount buyer's agents get paid is detached from reality. For buyers who don't have your $30K just have them roll it into the loan. Assume that's possible. Will your buyer agree? Hell no they won't.
📆Click to join the next NAR webinar (limited availability - signup now!): hubs.la/Q02sJzgs0
➡ Want the slides for this one? Register for it and we'll email them to you: hubs.la/Q02sJzJ50
The site linked doesn't allow additional sign ups. How can we request the slides? TIA
This is what I needed to hear.
Just a note on when she said they will add a disclosure about if you don't pay a buyers agent a commission and as the listing agent if it doesn't sell then it's not our fault... in the sellers eyes that might not come off well because then they might be thinking then why am I even using you to sell my house if you can't sell it or find the buyer to buy it? And have to rely on another realtor to bring a buyer instead of you finding a buyer?
I just learned today THE BEST PRACTICE FOR SELLER AGENTS: Do not try to soft or hard sell the buyer comp to your seller. Just leave it to any buyer agent to present what they want and present it with the offer and a net sheet. The fear is the old school agents won't show the listing and properties will sit, but really this ship has sailed and we will all learn and evolve or leave the business. Not hard selling or "encouraging" the buyer comp be built in seems like the legal safe space to me.
Thank You for this GREAT information!! I already feel more informed than most of my co-workers!!
On the role play question with Lisa regarding "so what if the buyers agent doesn't request that much"??? If I already have a listing contract stating 3% to buyer agent (today-Not July). A buyer agent comes in for a showing, and buyer offers 2% to their buyer agent on their contract, DOES their contract supercede what I originally offered on my listing contract?
Dismantling yet another industry. Cut by cut. Part of the great reset. You will own nothing and be happy. Especially a home.
Spot on. You own nothing and be happy
Interesting I thought I was the only one thinking this way
@tomferry where can I can a copy of the objection handling scripts you mentioned?
Would love to get access to the list Tom referenced for objection handling
Great content! thank you! I love the transcript feature. I copy/paste and edit in word and can use as scripts.
Great job with the role plays! 👏👏👏♥️
How about this script: "Tell me why I should pay you $15k commission when I can list on FSBO for $2000 when houses are selling immediately?"
Do it.
Where do you get that home value "gif" for the IG post? It is at the end.
A seller has always had the ability to do a FSBO for flat fee MLS.
If the days on market increase because the buyer agent commission is lower, then that pretty much proves the point that steering was going on, which was one of the reasons they lost the lawsuit. I am not sure your scripts are helping the view of agents that you think they are.
There indeed was !! Buyers were leveraging their exclusive access to thd MLS
….. to hide customers towards expensive properties
@@KaranSingh-wu8qq I "steer" my buyers to what will suit their needs and make them happy. Many times it is NOT the most expensive property or the one with the highest commission.
Not necessarily, I've had clients not want to see properties because they didn't offer a fair BAC. Now, with these new guidelines. Days on Market may increase because the terms may not allocate the extra funds to pay a Buyer's agent so they may go with another property. It's just important for agents to have this conversation when they get the Buyer Broker Agr signed.
@@greenrealtorjohnny exactly!
Where can we get Tom Ferry scripts for this please!!!!???
These live streams are so rushed.
How can I get these scripts?
Goodbye, real estate offices. They have done it again.
Thank you for the valuable information!
Jimmy 🔥🔥🔥🔥
As if you’re Thom, how do I get all that information that you have shared on this TH-cam video? How will I receive it? Do you need my email? Do you have my email? Please let me know. Thank you what a great panel thank you.
Agents have been forcing full fees for decades under the premise no buyer's agents will steer purchasers to them. Your scripts will not work when most sellers feel your fees are too high. There is a storm building, and many of you will not be prepared.
If a listing agent I interview suggests I pay anything to a buyer's agent. They are not getting my listing. Adios.
lmao. then the buyer agents will show homes to others that will pay them.... duh
@@dillonJwilson and continuing the steering. I have not doubt.
@@dillonJwilson spoken like a true realtor...look out for my paycheck before showing a home that would fit my client's need ..yep you're a realtor zero doubt
@@mikesmith1702 So you want the realtor to work for free? while other realtors are offering compensation and you decide not to? they will still show it but they'll ask the buyer if they are willing to compensate for the difference.. which most buyers will say no.
@@dillonJwilson I am not saying buyers agents should work for free or that they're not of value. What I am saying is they should be paid by their client. I'll assume your response will be they don't have the money to pay them. To which I'll respond assume your buyer does have the money- some do- and ask those buyers to pay you $30K for a 1M house. Never going to happen. Point is the amount buyer's agents get paid is detached from reality. For buyers who don't have your $30K just have them roll it into the loan. Assume that's possible. Will your buyer agree? Hell no they won't.
First comment 🤘🤘
My Title company does not have the info