BENEFITS OF THE EXCLUSIVE BUYER REPRESENTATION AGREEMENT

During the last five(5) years as a Realtor(S), in Maui, Hawaii I did not ever used the Exclusive Buyer Representation Agreement, except in some instances. The advantage of this approach is that I was able to lock-in a client for a specific amount of time, at no cost to her until her departure from Maui and after she returned to the mainland. But why? Simply, when the client is here he/she will be researching and reading about the real estate industry and listings advertised in magazines and or TV ads; he/she will be talking to other people and asking questions and exchanging information; he/she will driving around and stopping at different resorts, open houses and new developments. Generally, he/she will be doing what you do not expect them to do and confiding in you, as their Realtor, and a fiduciary representative is very far from their mind. By having your client signed an "exclusive buyer representation agreement", he/she understands that you represent them and is OK to go and look around, but they must tell any other Realtor in the business that he/she has exclusive representation. This confirms your agreement with your client to insure he/she that you will execute your responsibilities per the agreement and you will avoid deflection of loosing them as a client. Following are some pertinent steps to take to lock-in your prospective client, as follows:

1-Greet prospective client
2-Do you have a Realtor?
3-Assumed they are buyers
4-Type of property desire
5Explain the importance of the Exclusive Buyer Representation Agreement
6-Get client to commit to sign the agreement
7-If he/she does not agree, you are wasting your time, you are giving-out free info
8-Thank them for their visit and explain to them your services and earnings are based on a commission basis and you are paid by the seller, if they buy

By using this method you will avoid wasting your time, giving out free information, waiting for a client that will be receptive to your services and knowledge( one out of a hundred) or more , and lastly the most important you are loosing control. In addition, when the client is in front of you, this is your only chance to give -out "first impressions", and the only and last chance to connect with their EI(emotional intelligence). Kid yourself not, the client is there to play you and to get the most out-of-you, if you let them they will win.

I do want to emphasize, that not every client will be a buyer, but a least you will get their true name, telephone number and email. These are key valuable pieces of information and your contact client list will grow to infinite proportions.

Lastly, it is up-to-you to close the client from day one until the Close of Escrow. Always remember the adage/acronym, ABC(always be closing). Thank you.

Andre Adoloffo, Realtor(S), BA
RE/MAX RESORT REALTY
(C)808-269-0879
(F)808-665-1947
andreadoloffo1947@hawaii.rr.com