A common question in my real estate sales rep coaching sessions goes as follows:
“When should I introduce a buyer agreement with my client? I don’t want to scare them away, but I do want a commitment from them.”
It’s a fair question, and one that has plagued many real estate professionals out on an initial showing with a new customer. There they are after a property viewing, staring at their prospect, hoping they’ll appreciate this piece of paper that shouts, “I’m a contract and I’m going to lock you in!”
No wonder they’re scared.
They’re scared because we talk about the buyer agreement as a form of commitment. A contract that ties them to us. It’s a hard sell, and the reason is because we talk about what we get out of it, and share nothing of value to the buyer.
If you’re talking about buyer agreements in terms of what you get out of it, then you need to stop doing that and promise never to do it again.
Think about it from your client’s perspective. If you were the buyer, how would you feel about signing something that doesn’t help you in any obvious way but does guarantee the sales rep gets paid? You wouldn’t sign one, and nor would I.
Instead, focus on how the buyer agreement helps them.
Usually self-help articles stop here, but I’m going to go further in detailing exactly what you need to say. Tell them a buyer agreement:
- locks me into helping to answer all of your questions, and fast!
- means no more scouring the Internet for answers or for reliable phone numbers of random agents.
- ties me into prioritizing you above my commitments.
- gives you the flexibility to hire and fire if required.
Tell your clients that if they are not happy with the service they are getting, they can cancel the agreement on the spot and find someone else. They are finally in charge.
Tell them there is nothing more annoying than having to wait hours for an answer to a pressing question about a home inspection, from your licensed brother-in-law you promised your sister you’d use for your real estate transaction.
There are plenty more reasons that a buyer should demand a buyer agreement from you. I brainstorm them on my coaching sessions all of the time.
Follow my advice and take the fear out of the buyer agreement. Your buyers will actually demand to sign one!
Deep Singh is a sales trainer and business coach specializing in real estate coaching and start-up businesses. He is also a certified counsellor with accreditation from the University of London, Birkbeck College, in England. He has over 10 years of internet startup experience.
