How to introduce a buyer to this property.
As the owner wants to sell their property privately it is likely that you as an agent are wanting to introduce yourself and entice them to list with you.
Consumers are now more than ever aware of the tactics used by agents to get listing's so we are making these recommendations for our clients.
1. Legitimate buyers actively searching for property look at all the major portals, unlike the pre-internet days when agents where the search engines. Active buyers will see the property online and make direct contact with the owner.
2. Agents claiming to have legitimate buyers are asked to have a "Buyers Agency
" in place. This means the buyer will pay the agents fee ( Owners will not pay
a commission to the agent) and the agents fiduciary obligation will be with the buyer not in conflict with the agents' owner's fiduciary obligation. The REA 2008 allows agents to work as buyers agents.Owners are advised to seek legal advise
when an agent brings them a contract before they sign to ensure the agent does not trap the owners into a one sided agreement on behalf of their buyer.
3. Owners are advised that if they do sign any agency agreement it can be cancelled up to 5 days after they receive the written copy. Please read this link from the Commerce Commission.
Owners are advised to only enter a general agency agreement (If they need to) and to exclude any of their past or future buyers from that agreement. That any fee paid to the agent will be reduced. That any clause of introduction by the agent be removed from the agreement.
That any right to put signs on the property shall not apply. That any marketing the agent does, feature's the property and not themselves and will be at the agents expense. That any open home conducted will be at the same time as any open conducted by the owner. And that any private inspections will be conducted with minimum disruption to the owners schedule.
4. Our position on the Real Estate Industry: As an ex licensed sales person I agree that there are good people doing the right thing for vendors but the current model is broken for the sales person. Most NZ sales people are commission only with no guarantee that you will make any money until you get an unconditional sale. You will have expenses, you will be paying for your seat in an office, the paper you print , the fuel in your car, your license, your insurances, your mobile phone, your technology, your office crm subscription and any social media marketing you use to promote yourself. You are competing with every other agent in your office to get listings and then to sell your listing, plus you are sharing a big chunk of your commission with the office and your colleagues.
You need to work 80 hours per week, you will always have your phone on and you will sacrifice your family to get a commission. You will always be desperate for the next sale. You will be selling 3rd party services that you cannot make any margin on, you have to pass these on at cost to your clients, so you cannot sell any photos you take or the VR's you shoot. You must disclose any rebates you get and you must pay these to your vendor if they ask you to.
You need to list and sell one listing per month to cover your costs , two to make a profit.
You are always playing catch-up financially. The high's only last 5 minutes, the low's last for weeks.Our model FiSBO® was made to help me as an agent to improve my cash flow. In 2018 I made a product to help owners sell privately. We guided them for a fee with an agency agreement in place when I worked for First National Hawkes Bay . We charged at the start.
So FiSBO® is an app that allows owners access to the buyers directly, they communicate through the system, they market their property with our brand and have full control over the offers they get. They work with their solicitors' to write the sales & purchase agreement. We help at owners open homes & do marketing for them. We charge at the start. No commission is paid when the property sells. Owners pay for the service they choose to use. Open Homers get paid by the hour when they work. They get paid when they sell our marketing packs, when they take photos or VR's , when they put up signs or when they shoot videos.
Your opportunity, If you love real estate but are burnt out, stressed out , tired, sick of the in house fighting and all the other politics in your office call me and see how you can work with FiSBO® in your town.
We are looking for OpenHomers in every part of the country to help owners market and sell their property privately.
This is how you can make money: By the hour for every OpenHome or Inspection you work at.For still photos you take. For 360- VR you shoot. For signs you put up. For videos you make. For scripts you write .For every marketing pack you sell & For marketing you create.
We provide the systems you provide the talent, we work together to make real estate better. Consumers are looking for change, you will help them, we will help you.