Buyer's Rep Agreement Process (Post NAR Settlement)

The NAR settlement requires that agents enter into buyer's representation agreements. Prior to the settlement taking effect in July, all agents should get buyer's rep agreements signed with their existing and future buyers. How should you do this? (Sidenote, if this is a client you started working with before the NAR Settlement, please go here instead.)

What this doesn't mean:

This doesn't mean that you have to present and execute our full buyer's rep agreement in order to show properties. There is some temporary confusion while we work through the silly/vague requirement from the settlement that we must execute an agreement in order to show a single property. We will provide whatever the minimum is in order to show properties when we don't yet know a buyer and have not yet built rapport with them.

How do you prove value first?

When you are first introduced to a buyer, you will start talking with them about their home search. If you follow our 5-Star Secret Sauce, then you will have done a great job of showing value to your potential clients. This isn't the only way, though! To show value, you can:

• Give a buyer presentation.
• Set up expert property searches.
• Send an expert area email (and recap).
• Show them properties once (and maybe twice - but usually once).

Send a buyer's rep agreement explainer email early in the process.

Prior to meeting any potential client in person, good agents provide a lot of value in the way of informational emails, property searches, etc... The last email you should send should be a buyer's rep agreement introduction and explanation email. Here is how you can find our email template and a quick explanation of the email template: