At any given time an active real estate agent will have a dozen buyers that they work with. I get calls almost every day from someone looking to buy apartments. Unfortunately, it is difficult to dedicate the time and effort to every buyer, especially if there is no past relationship. The truth is that working with buyers is much harder and has a much lower percentage of paying off. It is also difficult to show buyers our entire off-market inventory as there is nothing in place to protect the agent in the event the buyer wants to circumnavigate the agent after seeing their inventory.
The real problem is that there is no commitment from either party to each other, making the odds low of any deal to be made. That is where the value of a Buyer Representation Agreement (BRA) comes in. Having a BRA in place allows me to have the confidence in a buyer to use all of my considerable resources to find them a property. Without the agreement, our resources are limited. With the BRA, the resources I can offer the client and the odds of finding a suitable property vastly improve. The BRA is a commitment that tells us and the market that you are a real buyer with a committed agent. Here are some of the benefits of the Buyer Representation Agreement:
- Access to Losness Groups Off-Market Inventory –We offer our entire companies off-market inventory. The BRA gives us the confidence to share this information with the client.
- Electronic Marketing – The BRA allows me to advertise your needs through email campaigns to over 5,000 owners in the area. Often times, this type of marketing will result in more product that is otherwise unavailable.
- Personalized Letters to Owners – We can produce a letters with your acquisition parameters and target mail them to owners. This is highly targeted marketing that has a proven success rate. Without the BRA, I would never do this.
- Market Place Validation – The BRA is not only a commitment to us, but it also shows other sellers and agents that you are ready to buy. You will receive higher validation in the market place by having a BRA in place as you write offers.
- Cold Calls – The BRA allows our entire staff to have the confidence to direct their calls to the clients’ needs.This is a powerful tool when you want to see fresh inventory and allows us the chance to really target your markets.
The goal for any buyer is to have access to the most properties possible to make the right selection when buying. The Buyers Representation Agreement is a proven method to getting to see the most properties available on and off the market.