You’ve got one big job in 2024:

Create a new buyer presentation.

Your 2024 buyer presentation needs to include information about and around the NAR settlement. You don't have to talk about the settlement per se, but you have to adapt based on the settlement. If you had a buyer presentation that you're using in 2022 or 2023, you have to rebuild it now.

Some of you don't have one at all. But it shouldn't be difficult to build one because we do one with listings all the time. But I get it. It's new and it's different. So, it’s going to be a little bit uncomfortable. So lemme give you some language to help you make it more comfortable.

When meeting a buyer for the first time, ask if you can show them how you work. Another approach could be to explain your process or walk them through the 10 steps involved in buying a house. Most people will agree, giving you permission to present.

In your presentation, make sure to discuss buyer representation fees and the need for a buyer...

Hey everyone, what are the top reasons buyers want to hire REALTORS? What do buyers value most? Well, here are the top three reasons according to an NAR study.

The primary one, unsurprisingly, is assistance in finding the right home. It's consistently at the top.

What might catch you off guard are the next two reasons, both tied to negotiations. Second is aiding buyers in negotiating sale terms, and third is assisting with price negotiations.

Two-thirds of the top reasons revolve around negotiation.

When engaging with buyers initially, agents often overlook discussing negotiation. How can I prompt buyers to choose me, armed with this data? Well, one effective strategy is to showcase successes on social media. For instance, if I help buyers secure $10,000 in closing costs or credits from the seller, why not share that after closing? Highlight the journey—viewing 10 homes, narrowing down to two,...

Guys, you've probably heard about the class-action lawsuits targeting realtor organizations, MLS groups, and large franchises.

The plaintiffs claim that they were unaware they were paying both their own fees and the buyer's fees. The lawsuits aim to either eliminate seller-paid brokerage fees or ensure transparent disclosure of these fees. While similar lawsuits have been filed in the past, these recent cases are gaining traction, resulting in settlements.

For instance, a New England MLS paid a 3 million settlement to resolve the issue.

This poses a significant challenge to our industry's business model, which has operated on the basis of sellers covering the REALTOR fees for decades. We may face a future where we have to approach buyers and inform them that they must pay their fees at closing and make a choice regarding representation. If they want me to represent them, we'll have a conversation, sign a document,...