REALTOR® Magazine Online: 3 Ways to Add Value

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	Fifteen Benefits of Working with a Buyer’s Representative Advanced tip Understanding Agency Broker tip Contract Terms for Buyer’s Representatives Qualifying the Buyer Advanced tip How Well Do You Listen? Advanced tip Who Are Today’s Buyers? Advanced tip Advanced: Psychographics —Understanding Buyer Motivation Prospecting for Buyers Working with Internet-Empowered Buyers Servicing the Buyer Advanced tips Closing the Deal Advanced tip Due Diligence and Disclosure Advanced tip Staying Safe While Showing Homes Broker tip When to Call It Quits Quiz: Buyer’s Representation Bright Ideas: Working With Buyers Code of Ethics: Working with Buyers More Resources: Working with Buyers Vendor Resources: Working with Buyers		SERVICING THE BUYER Your work as a buyer’s representative is just getting started when you locate a home for buyers. Here are some other ways to help the deal move along smoothly. 3 Ways to Add Value Counseling. Assist the buyers in acquiring and interpreting information about the property and its condition. Negotiating. Help the buyers arrive at a realistic offer for the property and assist them in planning a negotiating strategy. Advise them Managing the transaction. Guide the buyers through the intricate paperwork of a real estate transaction and help ensure the closing stays on schedule. For the Advanced Salesperson Other Services for Buyers and Owners Many real estate practitioners have valuable market analysis skills that they rely on in making sales and assisting buyers. But these same skills have a value all their own—especially to homeowners who aren’t ready to get involved in the sales process, says Julie Garton-Good, speaker and trainer with Garton Seminars in Lenore, Idaho. Homeowners are often willing to pay for advice that real estate professionals have given away as a prelude to listing or buyer representation. “They value the disinterested information, and you get paid for your expertise,” says Garton-Good. At the same time, you establish contact with the homeowners and lay groundwork for representing them when they do sell. Among the consultation opportunities Garton-Good sees in the current market are: Improve vs. move. Older homeowners want to age in place but need assistance in deciding how and how much to change in their homes. Property tax appeals. Salespeople’s knowledge of market comparables puts them in an ideal position to advise a homeowner in whether or not a recent tax re-assessment is reasonable. Reviews of market value. Knowing the current value of their home and pricing trends in the area makes planning easier for homeowners contemplating a move in a year or two. Remodeling to add value. Homeowners planning to remodel would benefit from advice on what features are most in demand in their areas and which costs are most likely to be recouped during a sale. House Facts Buyers Want to Know: Location of transportation, schools, churches, shopping, recreation. Asking price, assumability of mortgage, downpayment expected, interest rates, and monthly payments. Age of house, roofing, plumbing, HVAC, and wiring. Number and size of rooms. Size of lot. Average cost of utilities—water, sewer, gas, electricity. Charges against the property—taxes, assessments, liens. Special features—pool, landscaping, lake or river rights. Why the buyers are selling. Zoning and nonconforming uses. Easements and deed restrictions. Insurance. Adapted from Real Estate Sales Handbook, by Gail G. Lyons, Real Estate Education Co. and the Residential Sales Council, 1994. TIP: Know all the facts, and then recognize that emotions are more important than facts in making buying decisions. Never defend a property or contradict a buyer’s opinion on a property, even if it’s counter to preferences stated earlier. Buyers, next page >

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