Meet Buyers at the Office | Qualify Your Buyers

Initial Meeting with Buyers & Buyer’s Agent

Prior to “working with” and prior to “showing a property” to a prospective Buyer, a Buyer’s Agent should schedule a meeting at the Market Center with the Buyer.

The Buyer Meeting

The Buyer Meeting is an opportunity to get to know each other and for the Agent to go over the entire “Purchasing” process. Plan on at least 1 hour or more to establish a good working relationship.

  1. Discuss Broker’s expertise and experience, the type of broker services to be performed, and the broker’s time and expenses, among other considerations. (Agent’s Value Proposition)
  2. Discuss what is involved in purchasing a home (Offer, Escrow. Transfer of Title, etc.)
  3. Discuss the Buyer “needs and wants” (use the BIPP form as a guide).
  4. Discuss the Buyer’s Financial and Personal Information (use the BFPI form as a guide)
  5. Discuss Buyer’s Broker compensation using the BCA (Compensation options)
  6. Pre-Approval Letter / VOF Verification of Funds to Close / EBC Estimated Buyer Costs form
  7. Discuss the process of selecting properties to visit and schedule a time to tour properties.

Once the Buyer is willing to agree to a working relationship with the Buyer’s Agent, Buyer should sign either the BRBC Agreement (check Exclusive) or PSRA Agreement (limited representation).

Forms for Initial Meeting with Buyer

  • BRBC Buyer Representation and Broker Compensation Agreement package. (Check Exclusive)
  • BRBC is not to exceed 3 months.
  • AD Disclosure Regarding Real Estate Agency Relationships is included with other forms.
  • PSRA Property Showing and Representation Agreement (3 properties / not to exceed 30 days).
  • BCA Broker Compensation Advisory
  • Discuss with Buyer how Broker & Agent are compensated: either directly from Buyer as per BRBC/PSRA or as negotiated with Offer [RPA 3.G(3) & SPBB].
  • BFPI – Buyer Financial and Personal Information.
  • BIPP – Buyer Identification of Preferences and Priorities.
  • NET SHEET / EBC Estimated Buyer Costs
  • Confirm Buyer’s ability to complete transaction including compensation.
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