It's time to polish your Buyer Process. There has never been more urgency than now to ensure you're operating professionally, showing your value, and staying compliant!

Welcome back to America's #1 Daily Podcast,  featuring America's #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris?  Visit: https://whylibertas.com/harris or text Tim directly at 512-758-0206 

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Get out of freak-out mode and into action so you can survive the changes and thrive in the new market.

Just in case you've had your head in the sand for the past week and a half, there are two significant changes to pay attention to as a result of the NAR Commission's Lawsuit Settlement.

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The settlement agreement mandates two critical changes to how members and MLS participants transact.  

• #1:  NAR agreed to create a new MLS rule prohibiting offers of compensation on the MLS. This would mean that offers of compensation could not be communicated via an MLS. Still, they will continue to be an option consumers could pursue off-MLS through negotiation and consultation with real estate professionals.  Remember: just because commission isn't listed in the MLS does not mean that commissions have disappeared.  Don't believe the media; they're wrong!

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Today, we'll concentrate on #2.  What is your plan to obtain a buyer's signature on the representation agreement?  What is your experience with this so far?  You probably fall into one of these three categories:

1.  No problem. You've been doing this for months, years, or even decades. You have a presentation and a buyer system, and it's business as usual for you. You're relieved that now, everyone will have to be as professional as you've been!  Nice work!

2.  What are you talking about? I work with people who already trust me, and I've never had to worry about their loyalty.  How do I ask a friend to sign an agreement with me?

3.  What's a Buyer Agency Agreement? You've only completed the state agency form and have yet to really consider this.

Whatever category you fall into, it's time to get serious about following a system that will result in the required agreement. This isn't just to be compliant; it's to have a transparent, specific agreement and expectations with your buyer clients.

Of course, we drill down on this more completely in Premier Coaching.  On this podcast, we're giving you an overview.  

Your 8-Step Buyer System

1.  Generate the lead.  Things to consider:  Where do your buyer leads come from currently?  What are you spending (or not spending) per lead?