Greetings!
 This months newsletter discusses the delicate subject of Buyer Agency. Some agents practice it regularly and others just don't want to talk about it. Whatever your stance, I look forward to hearing your feedback.
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In This Issue...
How to Make Your Buyers Sign a Contract
The More Leads the Better
Your Feedback
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| How to Make Your Buyers Sign a Contract |
 Buyer agency is not only great for agents but also turns a customer into a client offering them full representation. Better yet, it doesn't cost the client anything as the commission is almost always paid by the buyer. As an agent you're supposed to sit down with the client and run through the details right away but many agents will just have their client sign it moments before they put in an offer. Why then do so many agents take on clients without asking them to sign a buyers agency contract right away? Mostly out of fear that they'll end up scaring the client away.
The best way to offer a client the highest level of service is to be able to spend enough time focusing on their needs. It's much easier to service 3 or 4 serious clients at a time then it is to service 10 or 15 lukewarm clients. The problem with too many clients is that you're not able to spend enough time with each one to determine who's serious and who isn't, not to mention spending time with your family. A buyers agency contract helps to eliminate the not so serious ones but how do you get the serious ones to sign up?
Tell them the truth! Tell them that you're the kind of agent who offers top notch customer service by focusing on a small group of clients and that the only way it's possible to do this is through buyer agency. Explain that each and every client you deal with signs a buyers agency contract which allows you to see to their needs more efficiently. Tell them that you only take on 3 or 4 clients at a time. Then ask them who they'd rather deal with - an agent who has a dozen customers they don't even legally represent or an agent who professionally represents just a few clients at a time.
Many of you will scoff at this advice and think that it's crazy to work with only a handful of clients at a time instead of a dozen or so but you'll make far more money in less time working with just a few signed buyers as they're serious and usually buy fairly quickly. During the last few years of my career, I made more this way while cutting my time spent working in half! It will be very difficult asking them to sign at first but it will get easier as time goes by. Start out by easing up on the terms (ie. three months and 1% commission should they buy private). Consider some sort of service guarantee if it helps as well. Whatever it takes, start doing it today!
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| The More Leads the Better |
 An average agent should be able to convert 1 out of every 20 leads into a sale. Assuming your average commission on a sale is $4,000 this means that each lead is worth $200. The more leads you have, the more money you'll make and the easier it will be to use the buyer agency technique mentioned above. The best way to attract leads is through the search engines as it's a 24 hour, 365 days a year international advertising campaign which not only attracts prospects around the corner but from around the world.
Imagine how hard it would be to ask prospects to sign a buyer agency contract if you only get 3 or 4 leads a month! I gave up pretty quickly as I was desperate and the prospect sitting across from me could smell my fear. Once my site climbed the search engines and I was receiving 3 or 4 leads a day, it was a completely different story. I knew that if one of my leads refused to sign a contract, I'd have a few more waiting for me in my inbox.
Our search engine friendly websites produce an amazing amount of leads each month through the search engines and can provide you with the number of leads that will build your confidence so that you're no longer afraid to ask buyers to sign agency contracts! Don't take my word for it, visit http://RealEstateMachine.com to view a long list of satisfied clients testimonials.
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| Your Feedback |
 And that's all for this month -- thanks for reading. If you have any comments or questions about the above articles or if you have any suggestions for future articles, just click your reply button -- I'd love to hear from you!
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