Buyers agents didn’t always exist! That’s hard to imagine if you’ve only been in the business in the last few decades. Since then, some agencies have built their entire model around attracting or only using buyers agents. Whole marketing campaigns and presentations espouse the benefit of working with a buyers agents. But, is this coming to an end? It’s a whole new world than it was when buyer agency first came about. Today we’ll talk about the history and the reasons why its not safe to hold onto buyer agency as a way to sustaining a long-term career in real estate. We’ll also tell you how you can ultimately save yourself from becoming extinct in the ever-changing real estate world!
We’re prepared for the naysayers, but we just had to bring this to light! It’s actually a discussion that been swirling out there for awhile, but we really believe the downfall of the buyer agent isn’t too many years away.
You might have only sold real estate in a time where buyer agency has existed and think that everyone does it that way. The reality is that the United States is the only place where it exists! What? How do all those agents around the world sell anything? Agents in Australia uses a method called “Absolute Auction” – and they’re even starting to do that process online! How do other agents in other countries sell? Ever heard of Listing-Only brokerages?
We realize that for some of you, the very thought of having a real estate business that only does listings scares the living daylights out of you, but it could be coming sooner than you think!
Why do we think that? While markets around the country are flourishing, there are also segments and cities that are seeing shifts. What’s the first thing to be cut when a seller is looking to save money? The commission! They may be 100% on board with why they are paying you, but what about that pesky buyer agent who is working against them? Listen to the rest of todays show to get the inside scoop on this highly controversial topic!
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