How to Communicate Your Value as a Buyer's Agent
Disclaimer: The contents of this article are industry best practices which were sourced from StreetEasy data and interviews with our Agent Advisory Board, unless noted otherwise. Any scripts provided are only meant to act as examples and are not required. Nothing in this presentation is intended to be legal advice. For specific questions about any duties or obligations arising out of a real estate transaction, check your local and state licensing laws and regulations, contact your broker, or an attorney.
As industry standards evolve and buyers ask new questions about what it means to work with an agent, it’s more important than ever for agents to effectively communicate their value. This is especially true in New York City, where buyers tend to be knowledgeable about real estate and selective when it comes to hiring an agent.
Not to mention, many buyers now need to sign an agreement with an agent before touring homes with them. Such an agreement, however, can be a great entry point to the conversation about why a buyer should work with you. In this article, we offer our top strategies to help you communicate your value as a buyer's agent to potential clients.
But first, some good news…
Most buyers still want to work with a buyer's agent
Buyers may have more autonomy when searching for homes, but most still want and need an agent to represent them and protect their best interests. According to Zillow research, 88% of buyers used an agent in 2023.
That said, you may find more buyers asking tough questions about your fee structure and services before signing an exclusive agreement with you. So here are eight tips for communicating your value as a buyer's agent, starting with the first call.
1. Ask buyers about their top priorities and concerns
Not all buyers have the same priorities. Take time during your first call or meeting with a potential buyer to ask some key questions: Why are they looking for a new home? What's their budget? Is this their first time buying a home? Do they want to live near where they work, or be close to public transportation? What features and amenities do they want or need in a home?
During this conversation, help the buyer get clear on their must-haves vs. nice-to-haves. Getting specific about their priorities early on not only helps you tailor their home search, but also shows them you care about their needs.
2. Showcase your hyper-local expertise
As a buyer's agent in NYC, hyper-local market expertise can be a tremendous asset. This requires more than researching a few trends; it means acquiring in-depth knowledge and experience in specific neighborhoods, property types, and buildings. Every NYC real estate transaction is unique - from the co-op board approval process to financing requirements - and you should demonstrate that you have the expertise a buyer needs for their particular home purchase.
One way you can show off your hyper-local knowledge is by joining StreetEasy® Experts. When you become an Expert, StreetEasy can match you with buyers based on their interest in specific neighborhoods and buildings where you've conducted deals. It's a great way to get high-quality leads without adding more time-intensive or expensive marketing to your plate.
3. Provide relevant market insights
No matter how much research a buyer does, they probably can't match what you've learned from working in the NYC real estate market day in and day out. Be sure to show buyers you have your finger on the market pulse by sharing the latest trends and data that are relevant to their home search. Furthermore, it's a good idea to create comparable reports and share data on recent deals closed in the area — agents with a StreetEasy account can do so using Agent Tools on desktop or mobile.
StreetEasy also makes it easy to stay up to date with our monthly market reports, which distill complex data into actionable insights you can use in your marketing and conversations with buyers.
4. Explain how you make finding properties easier
Today's buyers have a wealth of home-search tools at their fingertips - literally. Eager buyers may spend hours scouring online listings, comparing prices and square footage, and using search filters to find their ideal home. Explain to buyers how you can help them narrow down their search criteria, including their budget, and save them time by focusing on the right properties. What's more, you can contact the listing agents on their behalf and schedule showings.
5. Walk them through the buying process
There's only so much Google or ChatGPT can tell buyers about purchasing a home. NYC real estate is incredibly nuanced, and your experience is invaluable in helping buyers navigate the complexities of co-ops vs. condos, board approval, flip taxes, new developments, financing requirements, closing costs, and so much more.
During discussions with potential clients, it's a good idea to guide them through what to expect during house-hunting, bidding, negotiation, and closing. You can bring up some of your tips and strategies you've learned from navigating this process numerous times, and how you've helped buyers through it.
6. Share success stories
Do you have a great buyer success story? Why not share it with prospective clients? Get honest and specific about how you negotiated for better prices, seller concessions, repairs and improvements, contingencies, or closing timelines. Or, maybe you have a story about a grateful buyer who found their dream home thanks to you. Potential clients want to know that you have the skills and confidence to protect their interests from start to finish.
7. Highlight your connections
Your network is another valuable asset as an NYC buyer's agent, as buyers need to hire other real estate professionals like lenders and lawyers to buy a home.
Consider sharing with prospective clients that when they work with you, they get access to your network. Let them know you can help them find lenders with the best rates and customer service, the most experienced and honest home inspectors, and the most reputable and detail-oriented real estate attorneys.
8. Be confident in your value
A final reminder: don't sell yourself short. Remember that you have the experience and knowledge buyers desperately need in this fast-paced, competitive market. By communicating your value effectively, you're giving buyers the confidence they need to work with you and reach their goal of homeownership.
For even more help with conveying your value to potential buyers, you can point them to our resource hub containing useful information and articles on working with a buyer's agent.
StreetEasy is an assumed name of Zillow, Inc. which has a real estate brokerage license in all 50 states and D.C. See real estate licenses. StreetEasy Concierge team members are real estate licensees, however they are not your agents or providing real estate brokerage services on your behalf. StreetEasy does not intend to interfere with any agency agreement you may have with a real estate professional or solicit your business if you are already under contract to purchase or sell property.
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