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On Being a Great Buyer’s Agent

Suze Cumming | June 27, 2019

Many agents tell me they have an uncomfortable grumble in their hearts caused by fears associated with industry change. I get it. If your business doesn’t exist, neither does mine.

However, I know that there is a powerful opportunity for each of us to thrive in the evolving real estate environment.

The choices people make around housing is critical to their well-being and great REALTORS® help people make great decisions.

I’ve written a lot over the past months about what it means to be a great REALTOR® but the story in this article from John Giffen about serving his buyer clients captures it in a way that really resonated with me. It’s a simple, straight forward transaction but captures the value a good agent brings to that transaction.

(BC’s rules on dual representation would change the story but there is still important learning here)

At the heart of a professional buyer agent’s value proposition are the skills of negotiation, mediation, communication, advocacy and transaction management from “contract to close.” -John Giffen

John goes on to talk about what our value is, how to communicate our value and the importance of being open to different models of compensation. I’ve written about agents being compensated as consultants before and it’s great to see John using that language as well.

There are significant changes coming to real estate. These changes are being driven by the consumer and it is our job to serve the consumer. If you do that and do it well, you will have a wonderful career in real estate for many years to come. It’s an exciting time.

I am heading to Phoenix and Las Vegas for two major industry conferences in the next month to learn from other Real Estate leaders and help us all build a path to success while navigating the changing landscape of Real Estate.

“Buyer agents will need to become much more inventive in how they receive compensation as a result of a property sale. Revenue generation as a buyer representative will require creativity and ingenuity. For example, buyer agents might need to establish a sliding-scale “consulting fee” to work with their buyer clients or an “à la carte” pricing structure where the buyer can pick the services they need or want when purchasing a home.” John Giffen