Hey everyone, with the recent Sitzer Burnett lawsuit and NAR's loss, even though there are pending appeals, how should we adjust our approach to working with buyers? Waiting for the appeals isn't an option; we need to change right away.

So, what should we change? We must revamp our tactics and strategies. Today, I want to discuss a couple of key elements that should be part of your buyer presentation.

A common question from buyers is, "Why pay a buyer's agent a hefty sum to search for properties on the MLS when we can do it ourselves on platforms like Zillow or Realtor.com?"

This is a valid concern. To prove our value, we need to show that we bring a lot more to the table. In your buyer presentation, just like a listing presentation, there are crucial points to cover.

When it comes to the property search, it's not just about using the MLS. We go above and beyond. I emphasize that we leave no stone unturned. I mention that, of course, I'll set up an MLS search to send y...

We know that NAR lost the lawsuit, totaling $5 billion. It's actually $1.8 billion, but it was tripled during the court process. Additionally, some major franchises in America are also involved in this lawsuit.

You might think that it doesn't affect us because it will get appealed, but that's wrong. The major news outlets have been covering this story since the trial, and now, after the verdict, they're going to continue. Your clients, both buyers and sellers, will be talking about it.

A situation might arise when you or another agent in your market is taking a listing, and the seller asks, "I read in the newspaper that I don't have to pay a buyer agent commission. Is that true?"

How do you respond to that?

Well, here's how your conversation should go:

“You have the option not to offer a buyer agent commission. It's entirely optional. But let me frame this for you as it's a competitive and buyer-related issue. If we choose not to offer a buyer agent commission, it ...

Imagine someone asking, "Jim, why should I buy a home now? I see a lot of negative factors: record-high interest rates, historically low inventory levels, and soaring prices. Is this the right time to buy?" I'll provide you with four compelling reasons. Ready? Let's dive in.

Reason 1: Sellers who've been on the market for 30, 60, or 90 days are starting to feel the pressure. They might resort to price reductions, creating opportunities for bargain shoppers like you.

Reason 2: Many sellers are now open to offering owner financing, especially if they've struggled to sell traditionally. They're willing to provide attractive terms, like a 4% or 5% interest rate.

Reason 3: Working with a skilled agent like me, we can help you uncover assumable loans. Approximately 70-80% of loans on the market are currently under 4%. We'll explore homes with assumable loans at lower interest rates.

Reason 4: Sellers are offering incentives. They may buy down your interest rate or cover you...

I've noticed a common practice among the top performers in the country, and it's what I like to call an "Easy Exit Listing Guarantee."

The question for you is, do you have one, and are you effectively marketing it? And what exactly is an Easy Exit Listing Guarantee?

It's pretty straightforward: It means that if a seller feels you're not meeting their expectations, if they're unsatisfied with your service or marketing, they can exit the listing and hire another REALTOR.

Now, there are a couple of conditions to consider.

First, they need to give you a 48-hour window to address the issue. Some may prefer 24 hours or 72 hours, but there should be a timeline for addressing any perceived problems.

Second, they can't exit the listing if it's pending or close to closing.

Those are the two key caveats.

So when you're in a listing appointment, you can say, "I want my clients to feel completely satisfied with my service, so I offer an Easy Exit. If you're ever dissatisfied, ju...

Did you hear the latest news from the Federal Housing Administration about financing ADUs, which stands for Additional Dwelling Units?

In the past, lenders couldn't consider rental income from these ADUs, making it tough for buyers unless they were all-cash purchasers. But here's the exciting update: Starting now, you can purchase these properties more easily. For ADUs that are either not built yet or in need of a complete remodel, you can use an FHA 203K loan.

The best part?

They now count 50% of the income from the ADU in your qualification. And if it's an existing ADU, they'll consider up to 75% of the rental income!

This means it's a lot more accessible to buy such properties.

So, if you know someone who owns an ADU, let them know it's now easier to finance and sell.

And for those of you with buyers seeking these types of properties, whether it's for a second family situation, this is fantastic news to share on social media and discuss with your clients. I hope ...

How many referrals did you get last week?

If you received none or just one, you might be wondering, "How can I get more?"

Well, here's the secret: To get more referrals, you need to start by sending more referrals. It all begins with the concept of giving. When you give generously, the power of reciprocity comes into play, and you'll start receiving more referrals.

As REALTORS, we often act as real estate concierges, with a network of contacts at our fingertips. When clients ask for recommendations, it's common to say, "You should use my friend John for that. Let me send you his number." However, this might not be the most effective approach.

Instead, consider this value-added strategy to increase your referral potential. Say, "I have an excellent gardener who does exceptional work and offers my clients special deals. Would you mind if I give him a call and have him contact you, so he knows the referral comes from me?" People will likely agree, appreciating the added ...

How do you respond when a seller says they'll wait until spring, especially in the winter?

If you can't handle this objection, you're in a tough spot, right?

Let me share a powerful response because mastering the language of sales is key. It's not just about handling objections, but about providing food for thought to help them make the best decision.

So, if someone tells me, "Jim, we'll wait until spring and summer," here’s what I’ll say:

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“I completely understand. I'll be here to assist you then as well. But here's something to consider. Many potential sellers are planning to wait for the same season, leading to a surge in listings. The advantage is better weather and more buyers, but the downside is increased competition.

Instead of one or two listings, you might face 10 or 20. More competition means buyer interest gets divided among many listings, potentially resulting in fewer showings and offers.

Now, here's what we know about today's market. We can't predi...

There are some significant changes happening in the real estate industry:

If you've been following the Zillow lawsuit, you might know that recently, two major players, Realogy (which includes Coldwell Banker, Century 21, and Sotheby's) and RE/MAX, settled this lawsuit. While other companies and the National Association of REALTORS are still part of this ongoing lawsuit, these two giants settled for substantial amounts—Realogy for 85 million and RE/MAX for over 55 million.

But what's more crucial is what they agreed to within the settlement itself, not just the financial aspect:

They've agreed to give sellers the option to not pay buyer agent commissions (BAC) when listing their homes. This means that when a property is listed on the MLS, sellers can choose to set the buyer agent commission to zero.

Imagine this scenario:

In your market, a significant portion of sellers start opting not to pay a buyer agent commission. It's a game-changer, and we need to adapt to it. ...

What's the top reason someone might sell their house in the next 12 months?

A recent study just unveiled the number one motivator for people moving in 2024…

…and it's all about craving more space—not just square footage but room to breathe.

A whopping 38% of respondents cited this as their primary driver for considering a change.

Another big one is being closer to family and friends, a universal priority. Job changes and the overall cost of living in one community versus another are also high on the list. Then there's the desire to snag a better housing deal or explore different neighborhoods for financial reasons.

Surprisingly, there are a couple of unique motivations emerging: Some folks want to live in areas that align better with their social views, which is a new trend.

So how can you approach this topic sensitively?

Here's one approach: Share a social post stating, "One of the top reasons people are relocating is to find a place that aligns with their social v...

I want to help you become the go-to expert in your market.

You should aim to be seen as the trusted authority that people turn to with their real estate questions. To achieve this, you need to consistently share information and content about the real estate market.

Let me share an example of a script I recently created for our agents in our coaching program. This script focuses on national market statistics that you might find valuable:

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First, let's talk about inflation. You may have heard that inflation has recently risen to 3.7%. One common question I receive is, "How does this affect the real estate market?"

Well, the most significant impact has been on mortgage rates. Mortgage rates have climbed to the mid-sevens, almost hitting 8%. This has caused some potential buyers to hesitate. However, there is some good news:

Surprisingly, we are still selling approximately 91% of the number of homes we sold at this time last year, despite the higher interest rate...