New Salesperson Module 2: Agreement of Sale/Buyer Representation
Much of your real estate training may have been geared toward sellers. Listings, as the thinking goes, are "where it's at." With a signed listing contract, you are assured of receiving a commission once the transaction closes. Not so with buyers, who may end up purchasing from someone else. There is no "For Purchase" sign you can hang on a buyer relationship in the same way you would hang a "For Sale" sign on your seller client's property. The exposures you do get to other consumers through your buyer clients are merely to listing brokers and their clients, the sellers, who obviously are already represented.
Earning a commission with a buyer client requires a buyer representation agreement, or at minimum an established basis of mutual trust and loyalty. New Salesperson Module 2: Agreement of Sale — Buyer Representation focuses on the ways in which you can create a mutually rewarding relationship with your buyer clients.
Within their first 12 months of licensure, new real estate salespersons in Delaware must complete 4 modules of continuing education on the following topics: Professional Standards in Real Estate, Agreement of Sale — Buyer Representation, Real Estate Documents — Seller Representation, and Real Estate Professionalism. This 3-hour course fulfills the Agreement of Sale—Buyer Representation requirement.
Course highlights include:
- Advice on how to prepare for and conduct an effective buyer presentation.
- A detailed explanation of the benefits of a buyer representation agreement, from the perspective of a buyer and broker.
- A description of the history of buyer representation, and the types of buyer agency that are possible.
- Step-by-step instructions on how to write a clear purchase agreement and estimated closing cost sheet.
- Key points illustrated through case studies and real world examples.
- Numerous resources for instant application and future reference.