September 2024 Thurston County Real Estate Mastermind Lunch

Welcome to the Thurston County Real Estate Mastermind!

I have always wanted to be a part of a mastermind group and there are so many agents & lenders that I would love to know better and learn from, so I created this group.

Join me for a monthly meal where real estate agents & lenders unite to collaborate, learn, and share insights. Our mission is to foster individual business growth through encouragement, collaboration, and shared knowledge. Together, let's empower each other by sharing valuable experiences and strategies that benefit the entire community.

We will go around the table and do brief introductions. (Who are you? What do you do? What company are to affiliated with? How long have you been in real estate business? for examples)

There will be a monthly topic and questions that can be discussed but let’s be honest some of the best conversations happen organically.

We do not apologize for being awesome and we do not shame here.

Meal will be at your own expense and remember to take care of the server.

September's Topic: Buyer's Brokers Services Agreements (BBSA)

Discussion Questions:

• How do you think the requirement of a formal agreement will affect the trust-building process with new clients?
• Do you foresee any challenges in explaining the necessity of signing this agreement to buyers, especially those who have never used one before?

• What strategies or language are you using to explain the Buyer's Broker Services Agreement to your clients without making them feel pressured?
• How can we present the agreement as a value-add for buyers rather than just another legal form?
• How are you showing your value to buyers?

• Have any of your clients expressed hesitation or resistance to signing a Buyer Broker Services Agreement? If so, how did you address it?
• What are some common objections that might arise from clients, and how can we overcome them?

• With the new requirement, how can we best explain broker compensation and clarify the options for clients in terms of how agents get paid?
• How might this rule increase transparency in the buyer-agent relationship? What are some ways to ensure the conversation about compensation is clear and professional?

• Have you noticed an increase in sellers being more reluctant to pay the buyer's broker commission? What are the reasons they give for this?
• How do you handle sellers who push back against offering a competitive buyer's agent commission? What has been the outcome of those conversations?

• What language or talking points do you use when explaining the importance of offering a competitive buyer broker commission to sellers?
• How do you explain to sellers that offering a fair buyer's broker commission can impact the number of offers or quality of offers they receive on their home?
• How do you handle sellers who insist that the buyer should cover their agent’s commission? How do you guide them to see the bigger picture of offering a competitive commission?

Host or Publisher Liz Anderson