IT BEGINS

WELCOME

And we’re off!

Our new reality started this Saturday, so I’m curious as to how y’all are handling the buyer’s agreements with your clients. While this may not feel like a blessing, I am Glennda Baker and I try to find the good in all things, and I say this is an opportunity for you to provide your buyers with the kind of superior service they deserve. So let’s talk about it!

Remember, it all starts with you being able to articulate your value.. and back up that claim.

STORY TIME WITH GLENNDA

Showing and Telling

Everything changed this weekend, but like me, I’m sure you’ve been educating your buyers on what was to come. For example, I’m currently working with a couple of buyers who are super analytical, so I’ve made a spreadsheet of every listing I want to show them and I’ve included a column for broker’s commission information.

Now, this is a little bit labor-intensive, because I’m having to call every agent to find out what the deal is. Y’all might think that would be easy, but oh my stars and stripes, I can’t believe how hard it is to get a hold of some of these people.

I have been prepping all my buyers for this new reality, and the way I explain it is that the seller always paid the commission for the buyers and sellers. I also tell them that in the state of Georgia, the commission has always been negotiable. However, the majority of listings offered a 3% buyer broker commission and now they can’t advertise that on the MLS. I tell them the important thing to know is that my fee is 3%, and that will either be paid by the seller or them, my buyers.

The confusion can come in if we the agents are not clear how that’s paid out. For these particular buyers, they wanted to know how they’d get that money to me if it’s not wrapped in the sale price. Now, because the buyers are paying cash, it might actually work out better for them to separate the buyer broker commission on the closing statement. For the ease of math, let’s say they want a $1,000,000 home. If the seller is covering the commission, it’s business as usual. But in the case of my cash buyers, it’s better for them if the house price is listed as $970,000 on the closing statement because then that’s what their tax base would be, instead of $1,000,000, and they just pay me my $30,000. It’s the same money brought to closing, it’s just columned differently.

This is the crux of how we explain our value to our clients. I’m not afraid to have the commission conversation with my clients because my value is tangible (and so is yours). I have the knowledge of the market, the ability to negotiate, and my ability to mitigate the risk of exposure for my clients is far greater than the fee I’m receiving. More importantly, I have the ability to discuss case studies on each point.

I can show them what I’ve done, not just tell them.

That’s because I have a deeper knowledge of the market than an appraiser because not only have I been in every home that’s been bought or sold in my area, but I’ve also spoken to every one of those agents and I know why the sellers sold and the buyers bought. This is because I’ve picked up the phone and talked to every dang one of them.

If you’re not doing this yet, start today.

If you’re not picking up the phone and calling Betsy the buyer’s agent, you’re leaving money on the table. For example, let’s say a person bought 123 Banana Street. Well, I’d want to know why they didn’t choose the listings at 125 Any Ave or 127 Local Lane, when they were equally priced and just as nicely appointed. What tipped the scales? That’s a direct question and many agents are afraid to ask that question. They’re afraid to be nosy. Don’t be. Knowledge is power.

For example, there was a sale in Marietta and I wanted to know why the buyer chose that particular house when there were other commensurate listings on the market, so I called that buyer’s agent. I found out that the buyer wanted to go into politics and was raised in Marietta, so he needed to buy there because he had to reside there to run. No one else knew because no one else asked. So part of our value is knowing what questions to ask because this isn’t info you can find on the MLS or a website; this is our value-add and it is invaluable.

Lately it seems like most agents are Random Roberts and Rebeccas and they need GPS to get around the neighborhoods because they don’t know them. They can’t tell in the MLS that Lucy the Listing Agent input the wrong high school since she’s not familiar with the area and her sellers never had kids in school in the district. And yet the schools are a huge driver. For example, I sell lots of houses in Atlanta Country Club. Everyone should know that ACC is Walton High School District. But I saw someone who listed in ACC that said the high school was Wheeler High School. Just to confirm I wasn’t crazy, I looked up the bus zone for Cobb County and I was correct. So all the people who wanted into Walton didn’t even pull up that listing because Lucy had gotten it wrong.

Back to my buyers—they want a home that’s within ten minutes of family. I had a couple of homes just a hair outside that ratio, so I asked them how they felt about eleven minutes or twelve. They said, “Honestly, Glennda, if it’s within fifteen, we’re fine.” And I said, “Whoa, wait a minute. If fifteen is okay, there’s a little triangle of properties in Cherokee County where your property taxes would be about 60% lower because of the Elderly School Tax Exemption.” On a $1,000,000 property, that’s a significant savings. Plus, I think this is the next area to pop off in terms of growth and popularity. My client said to me, “Glennda, I never thought about any of that.”

I replied that I am worth my weight in gold.

The problem is that so many agents struggle to come up with case studies to articulate why they’re worth the commission they’re paid. So they’ll get coaches to prompt them to say that they’re valuable, rather than giving concerete examples to prove it. Sound bites mean nothing to the consumer. If you want to provide the kind of service the clients want and deserve, you have to be ready to show your value, and not just tell.

I’ve never given an assignment before, but we’ve never been in this reality before. So over the next few weeks, I want you to look at all your biggest wins and best saves. What did you do to go above and beyond? How did your insider knowledge tip the scales? When did you feel like a superhero? What transactions were you involved in where you thought, “I am worth my weight in gold.” Then, I want you to have these at top of mind when you hand over that buyer’s agreement for signature, because those buyers are lucky to have you in their corner.

And if you don’t tell them that, rest assured that someone else will.

@glenndabaker

The only sign you need in your yard is a for sale sign. #GlenndaBaker #RealEstate #AtlantaRealEstate #PoliticalPoliticalSigns #GoogleGlenn... See more

GLENNDA’S GURU

Welcome, Elias Astuto!

Y’all, I am thrilled to introduce my friend Elias Astuto of #KeepItMovin Group Coaching! Funny story about him—the day we were to meet, he wore a star shirt especially in my honor. I was so tickled! I am super excited to share this conversation with you because what Elias has to say is so inspiring with his message that it’s time to elevate our game, and that pros rise to the top! So, give this a watch and don’t be surprised when you’re ready to take on the rest of the week after you see it!

Thank you so much, Elias!

GLENNDAISM

Keep This in Your Pocket

GO HOMES.COM WITH GLENNDA

Tell Your Story!

This week, let’s talk about showing and telling your story as an agent. No place does that better than Homes.com.

I love what you see when you click on my landing page. At a glance, anyone can tell who I am, what I represent, and what I’ve sold. My experience is right there, all laid out in an easily understandable format. Plus, when a client sees my listing, when they click, they’ll reach me. That’s because with Homes.com, it’s always your listing, your lead.