With all the MLS, CREA and the Competition Bureau kerfuffle, a lot of energy and attention as of late has been directed towards Sellers and the opening up of their marketing options. However, it is not only the value propositions that we offer our Sellers that we as Toronto realtors must keep top of mind but also the benefits that accrue to our Buyer clients as well.
What advantage would a Buyer have these days in obtaining exclusive Buyer Representation from us when they can find a house on MLS.ca, or elsewhere on the net and then, with the hopes of securing a better ‘deal’, contact the listing agent directly themselves? Some Buyers are going online, finding a house and then contacting ‘their’ agent to get it for them. We have already encountered Buyers wanting compensation for their search-and-find role.
Forget coming to us; very soon Buyers may be able to directly access some MLS Sellers and do the deal themselves. No co-op fee at all. These times are changing.
Certainly technology has provided the vehicle for much change in the way we conduct business with our Buyer clients. However, we must now utilize this very technology to assist us in the effective execution of our Buyer Agent responsibilities, not accept the mindset that technology is in competition with us for ‘our’ Buyers.
No matter how the MLS and Competition Bureau matter resolves itself, it behooves us to identify and proudly believe in the value add services that competent Toronto Realtors provide Buyer clients as well. And they are many.
Let’s look at the services we can and do provide in a tech-savvy world even if the Buyer were to have first found the house of their dreams all by themselves:
To start with, we assist our Buyers by helping them make wise real estate decisions. Is this the best long-term real estate decision for that Buyer to make right now? We can provide that answer and give them direction.
With our experience and expertise we provide expert real estate insight, advice, counseling and reassurance. Who else is there to do this for Buyers? Dad, who bought his house for less than these kids pay for their cars? The Seller on MLS.ca whom they directly contacted?
We also provide valuable knowledge.
We have the resources to provide information, market trends right at our fingertips and the capability and experience to answer questions and address almost every Buyer concern.
So the Buyer has found a house and now wants to own it. Why not have their lawyer prepare an offer? Standard offer agreements can be drafted easily enough. Experience enables us to draft and insert clauses within those agreements that both protect the Buyer and fulfill their needs. However, the clauses competent Toronto realtors draft are not crafted in a manner to alienate and intimidate Sellers. That seems like mission impossible for many a lawyer!
We have the experience and skills to provide offer strategies and negotiations beneficial to a Buyer. “Keep the spirit of goodwill alive here, give them a sign back”, “Perhaps we’d better not include that antique dining room light fixture that they really want to keep”, etc.
Through an understanding of the Buyer’s specific needs, a Realtor guides the Buyer through the complete purchasing process. A Realtor is an advisor who champions the Buyer’s needs, someone who can chart a course through rough seas if during any part of the process a Buyer encounters unpredicted storms.
Buyers represented by Realtors also have delineated legal rights in Ontario. Don’t underestimate the impact of the reassurance Buyers receive from the fact that their Realtor is required to maintain Error and Omission insurance protection.
I am sure the list can go far beyond these suggestions but in a nutshell, the Buyer may be able to find a home for themselves but we make certain that it is the right home for them.
Let them use all the technology they want to find the house. It helps us.
‘Found the house yourself you now want to own? Can’t give you a discount but let me give you a hands-on demonstration of everything that we can do to get it for you. Then sign a Buyer Representation Agreement and let’s get to work.’
They still very much need us. There is no question that the services we provide to Buyers will continue to be indispensible for as long as I can see into this new future.
We had just better start believing that ourselves.
