How to Navigate the Surge of Unrepresented Buyers in Real Estate

We’re facing a dilemma here:

With the impending changes in buyer representation, there's talk about some agents taking zero BAC listings—charging a fee but listing it as zero.

Now, think about it: Buyers looking at these listings may opt to go unrepresented, thinking they can handle it all. So, as a listing agent, taking these listings, the question arises:

What do you do when an unrepresented buyer wants you to facilitate the sale without the BAC?

Considering the surge of unrepresented buyers, it's time to discuss this with sellers. You may still charge your standard listing fee but need to charge a bit more for dealing with an unrepresented buyer.

Why?

Because you're essentially doing double the work for potentially half the pay.

You're handling everything from financing and inspections to appraisals and negotiations.

You've got to communicate this to sellers. Due to changes in the market, unrepresented buyers might approach directly, and handling them requires more time and effort. You're saving them the BAC, but it means extra work for you. If you were charging 2.5%, maybe consider 3.5% to 4.5%, aligning it with your business model. The key is making decisions around handling unrepresented buyers proactively, avoiding the scenario where you end up doing extra work for free.

It's not about setting specific numbers; it's about adapting to the evolving market dynamics.

Have this conversation at your listing appointments—address the potential challenges and set clear expectations for handling unrepresented buyers. It's a shift happening nationwide, and being prepared will save you from inadvertently working for less than you deserve.

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