What Buyers Really Want From Their Realtor
Watch my full webinar on Youtube.
There's a lot of noise right now in the real estate industry questioning the value of buyer's agents. Headline after headline claims agents overcharge and don't provide enough value to earn their commission. But the real problem is that most buyers simply don't understand what a great buyer's agent actually does.
As agents, we're guilty of not properly telling our story and communicating our true worth.
The average person knows almost 7 real estate agents. In the past, buyers have worked with agents based on who they know rather than the value that agent represents.
This lack of understanding is dangerous. It leads buyers to choose agents haphazardly or worse, go it alone without representation at all. Without recognizing an agent's worth, buyers risk making costly mistakes.
The Crux: Buyers Don't Understand Risk Mitigation
When asked what service buyers value most from their agent, 33% said "interpreting inspection/disclosure reports and noting potential issues." Buyers want help making smart decisions and avoiding pitfalls.
However, buyers still think an agent's main role is finding them a home. This is a huge misunderstanding. With online apps and listings, actually finding properties is the easy part. An agent's core value proposition is RISK MITIGATION.
As buyer's agents, our true worth comes from:
Helping buyers avoid overpaying
Protecting buyers' earnest money deposits
Leveraging relationships/experience to ensure a smooth transaction
Negotiating to resolve issues and repair costs
Deciphering contract fine print
Explaining inspection reports and disclosures
Providing guidance to make wise decisions without regret
We aren't just home finders. We are RISK MITIGATORS safeguarding buyers from expensive mistakes.
The Opportunity: Reframe Your Value Proposition
The majority of buyers believe agents are compensated fairly or should make more. Cost is not the objection. The opportunity is reframing our value so buyers understand it exceeds our fee.
Your new mantra:
"My knowledge will save you money, protect you, and help you make the right decision."
In listing presentations and at first contact, educate buyers that your role is managing risk, not just finding properties. Explain how your market knowledge, experience, and advice prevents costly blunders. When buyers see your expertise reduces their risk exposure, they understand your worth.
By properly positioning our risk mitigation skills, we can stand out and capture more buyer leads. Don't let the opportunity pass to finally tell the true story of your value.