Set Expectations With a Buyer Loyalty Agreement



Transcript:

Let's go through the Buyer Loyalty Agreement and some related documents. I've mentioned it before, but you should only work with committed buyers. A lot of buyers don't give credit to buyer's agents, so I would absolutely consider you charge a transaction fee if you have someone helping you with closings.

There is a law around it and as long as you have a service offered for that separate transaction fee, I believe you are okay. Definitely contact your attorney, though, I can't give any legal advice.

At the point where you're signing documents, you want to set expectations with the "Contract-to-Closing" and 88 Types of Turbulence" documents. Ask for referrals again, again, again, and again. If you take nothing away from B-school besides those referral cards, that will make you 10 times what you invested in this program, if not 100 times.

Now, let's look at the Buyer Packet. It has all of the elements you need. You're done with the presentation, and all we ask in turn is your loyalty. Let's go through the paperwork.

Our VIP Buyer Loyalty Agreement is the same document I used when I just got into real estate, and it 100% works. It's benefit-rich, and until we go under contract, this is the only document we use on our team.

Our VIP Buyer Loyalty Agreement states that as your buyer specialists, we will:

  • Secure the best financing program for your specific situation, with the lowest interest rate and least expensive closing costs, as well as have a pre-approval certificate to give you the best competitive advantage in purchase negotiations.
  • We will provide you with regular updates from our Home Hunter service of all the new properties that match your home buying criteria, so you can drive-by and determine which properties you actually want to see.
  • We will arrange a private showing of any property you want to see, including new construction, bank-owned, and FSBO properties.
  • We'll discuss the strategy for making an offer, as well as financing terms, interest rates, cost-to-close, possession date, inspections, termite/pest/environmental reports, and any questions you might have.
  • We will help you prepare an offer with terms, provisions, special stipulations, amendments, exhibits, and addendums weighted in your best interest.
  • We will present the offer on your behalf and negotiate in your favor to help you secure the property at the best possible price and terms.
  • We will recommend extremely competent affiliates that can help with your home purchase, including legal advice, home inspections, appraisals, and warranties, as well as homeowner, hazard, and title insurance.
  • Finally, we will ALWAYS be available to answer any questions you might have.
  • We will negotiate the home warranty as part of the purchase agreement, and give you a cancellation guarantee, to cancel if we don't live up to our promises. Finally, if you're not happy for up to 24 months after buying your home, we will sell the home for free.
For our services, we are paid a commission of 3.5% and a $5,000 minimum. The commissions are paid by the seller and they are negotiated as part of the purchase agreement. If there are any commission deficiencies and the seller isn't willing to make up the difference, you will not be responsible for any shortfall.

Re/Max real estate experts charge a $695 transaction fee for the internal processing for your transaction. If the seller doesn't pay this on your behalf, you will have to compensate us for this as part of your closing costs. However, 90% of the time, the seller will pay for it.

It expires 6 months from today's date unless canceled in writing. Finally, we have our cancellation guarantee.

Other agents, if you sign an agreement, there is a risk. Your agreement with us is risk-free.
According to a recent survey, more than 80% of home buyers were dissatisfied with the performance of their agent. We are not looking to be one of those agents. We want to find the right home as quickly as possible before the competition finds it.
We are going to give the highest level of service and our commitment is 100% to you. We are so confident in our system, we will let you cancel our buyers' agreement at any time prior to submitting an offer to purchase. No penalties if you feel my service doesn't live up to my promise. And that's it.

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