if you're a real estate agent that is wondering postar how do you communicate value in a way that gets your buyer brokerage agreement signed Andrew Undem is going to share with us his exact process that I know is going to help you get more business immediately after watching this video all right Andrew there is nobody in my opinion that does this any better than you so this is what's going to be exciting is is those folks that are out there and they keep hearing that they need to be able to communicate value in a buyer presentation it's one thing to hear that but it's a whole other thing to understand exactly what that looks like I think everybody understands they need to do it but they're not sure how to do that so what's fun about this is as you and I have talked about this over the years I know you do it on the seller side but the buyer side is a focus that a lot of people miss out on so if you don't mind let's just start at the beginning what does this look like as far as you know the typical meeting and just kind of go through your process if you don't mind yeah I think we've all heard you have to Showcase more value on the buy side and it's been beaten to death on the seller side and our marketing proposal side but how do you do it on the buyer side you got to show value and I hear a lot of people say those words but they're not actually saying this is how you actually show the value so what we're coaching our agents and our team is how to show the value okay and before we get into the the nitty-gritty the key thing here is you have to be comfortable okay everyone knows Bond and report is an important thing and how to make other people comfortable you're never going to make someone else comfortable unless you're comfortable so look you're going to win through reputation or Preparation ideally both okay but you got to be prepared for some of this and that's probably why you're watching this and you're subscribing to Jimmy's Channel because you want to get better so when we're talking about a buyer situation I like to draw out everything on hand so I don't care if we're meeting at the office we're meeting at an open house I'm hanging out at my kids swim meet and I'm talking to a parent you have to be able to articulate the value proposition of buyer agency in a compelling way where they're going to agree to pay you two and a half three over 3% so that's a lot of money A lot of times so this is a real conversation um so when you break this stuff down and and also because it's a dynamic environment you have to be fluid okay so what I say here you can use pieces of this move it around make it your own but you're not in a vacuum when you're at the open house or you're doing a buyer consultation at the office which is what you want or you're out in the wild you have to be fluid with this stuff you have to be unconsciously competent and that's only going to happen through preparation so with those bases covered if you're talking to a buy there's a couple kind of key things here how does an agent provide value well what you want to do is you want to draw out here's everything that happens in that transaction okay starting with we all know pre-approval right so that's a piece then you have your home search that's a piece market dynamics that's a piece offer research not making the offer but researching what you might do for the offer is a piece the components of an offer is a piece the contract period settlement and post settlement so there's like eight or nine big pillars where you can provide value okay so I'm just going to Rattle these off Jimmy because when we're talking about these stages throughout the buyer Journey it's your opportunity and thereare I say your obligation to provide value to that buyer okay so on a pre-approval let let me say this Andrew because I know that it's hard to do it here um because I you you and I have sat down and you've actually drawn this out just like you do with someone um if we can can you record that after this and then if somebody wants that we'll have it down in the show notes if they're watching this on YouTube or if you have if we don't have it in there just email me and I'll send this to you would that be okay 100% because what I'd like to do is draw it out I don't have my iPad today so I'll record myself doing this and you know what I did it right before the call this is what it looks like now you can't read my chicken scratch but if you put this on a piece of paper each one of these words is compelling value in real dollars so say the first point preapproved so jimmmy when you're going to buy a home it's really important that you understand all the loan options and the different programs available here in Baltimore a lot of times buyers don't know they can get grant money they can get tax credits and there's so many different programs through mortgage brokers and banks that can unlock some value for you so that's why it's really important to have an uh in-depth conversation with a mortgage person a to understand can you pick up some free money what's the best program for me should you do 1% down 5% down 20% down 50% down and really understand what type of mortgage product you're getting and one of the things we do one of the components of value we bring to the relationship is we guarantee our buyers the lowest interest rate and how we do that is once you apply for a loan we're going to help you shop that loan with other mortgage companies now the loan officers don't love it when you do this but my job is to get you value so I'll get you the lowest rate and the lowest fees see time out when you're talking about pre-approval now talking about real money I'll guarantee you I get you the lowest interest rate and the lowest fees that's a component of value and then you explain the way to get a real Advantage when you're going out to buy a home is not just to get preapproved but to verify all of your assets this is doing heavy lifting before you start the process because that mortgage loan officer we're going to coach them up on how to help us convey to the seller how strong you are and if they already have your documents they have your assets and it's verified we can close quickly and they can help us coach the listing agent on how to talk to the seller boom so that's one pillar okay pre-approval it's not just oh I hope you can buy I hope you're qualified hope I don't waste my time it's no I'm gonna help you I'm gonna help you get money save money get you the lowest interest rate and have an ally on our team to win this deal boom now we're talking about can I can I add something there this is what I love is that immediately you go into how the different the differentiators here so when you talk about this you know and you say most buyers don't know I mean that's immediately you know that wording every word has value and by creating that situation where wow I don't even know this now You' immediately almost piqu their interest not just piak their interest but you've given them something they may not have known about other thing I love the word unlock unlock value for you so these are things like using those things guaranteed lowest interest rate look lenders don't always like this but that's my job I love the where you you're phrasing all of this and look if you're somebody that's listening to this that what you just did on the first of one of these nine or 10 or 11 pillars is more than 95% of Agents speaking the value that they bring and some of this we do these things but we don't communicate them so I want to I want to step back but I just wanted to say listen if you're this is going to be a video you're going to want to watch multiple times because just in that one little thing that that first pillar that Andrew was talking about there are two or three very critical words that you can use that will absolutely get you the opportunity to get more buy or brokerage agreements signed just right there so I I'm gonna be quiet as much as I can andw I get excited because this is I know this is going to be so good listen stick around to the end of this thing because the way that Andrew closes this thing is pretty special as well well Jimmy it's like what our friend shiron always says and look I didn't come up with all this off the top of my head I find the smartest people I can I kind of try to copy it put it into my own language but shiron always says showcase complexity deliver simplicity show so this this process can be complex just in that first pillar oh my God there's so many different programs can I get some money is this person going to be an asset or a liability am i g to be prepared so that's what you want to do here and you always have the consumer in mind what my friend Alan Dalton always says is you have to focus on the consumer by the way Jimmy you know this he wrote this book this is a whole book on what to do on buyer agency just came out yeah I've read it like four times yeah that's great there's so many ideas in this thing that you can put in your presentation too but I'm just sharing you kind of how I like to do it because it's just logical rational boom okay so we got pre-approval now let's talk about your home search now I'm skipping the the Rapport steps of hey what are you looking for of course you're GNA uncover that and in our business it's pretty easy they want to move right they want to buy something for whatever their reasons are of course you want to get their non-negotiables they're nice to haves any critical dependencies on timing and budget okay but now we're going to jump into the meat of it now we're trying to kind of teach them a little bit we're going to be a professor here so okay first thing we got to do is got to lock in this pre-approval next bullet point when you're searching for homes how are you doing that now oh I'm looking on Zillow whatever they say that's awesome hey that's what everybody does and they're not seeing all the off- the market inventory so totally do that look for homes but you're only seeing homes that an agent has put in the MLS that's populating these thirdparty sites a lot of times these sites don't have all the coming soon listings which are homes that are going to be coming on the market soon we have to pay attention to that particularly in a low Market environment a lot of our buyers Jimmy are saying God I'd love to buy but I just can't find the right house well that's because most agents are lazy hate to say it they're going to wait for you to find a house and they're going to show up and hopefully collect a fee that's not how we roll okay because we fight to help build equity with our clients before they even buy so the search process you're going to see everything on the market then we have the coming soones okay but here's where we've helped a lot of our buyers is all the off-market properties did you know you see every single house that someone wanted to sell that didn't sell those are called either expired or can canceled listings we want to look at those how about all of the free coming soon listings these aren't listed as coming soon but we know they're coming some people call those pocket listings we have access to all of those as well new construction listings typically a builder will put one or two listings up but really there's 30 or 40 there different floor plans different lot sizes even different communities so understand the search process that's why it's important for me to really know what you're looking for and most buyers don't know exactly what they're looking for until they've gone and seen a couple which you know we're happy to do but always be thinking of what you're going to be searching for so I can unlock some of this inventory Jimmy likes the word unlock we're going to keep unlocking stuff for you I love it now as you're searching you have to understand the market dynamics of what's going on okay the market dynamics are just a relationship between active pendings and souls so it's kind of nice to know if you're zeroing in on a specific town a specific school zone a specific area what's the average list to sales price ratio which just means are they getting full price are they getting a little more than full price or are they getting a little under full price historical data is very important because it's going to help us create a compelling offer okay what's the average days on Market how long is it taking these homes to sell are there any closing costs in these deals and we can look at the historical data and see what's going on in the market now nationally it's what you hear on the news that doesn't matter what matters is in your micro Market in this ZIP code in this price range if you're looking between five and 600 average days on Market list of sales price ratio what's the month supply of inventory all these things and I'm going to walk you through all that but it's gonna be really important to study this because I want my buyers to know mo more than most real estate agents by the time they're done so that's how you build equity every buyer wants to get a good deal do you guys want to get a good deal okay we're going to talk about that two once we once we find the property and you see one you like and look this is a process of elimination we try to eliminate as much as we can a lot of times you can eliminate it based on price based on area based on condition you don't like the pictures the Island's not big enough whatever it is but if we can't eliminate it we're going to go see it in person and if we can't eliminate it in person you know sometimes they smell like catpiss eliminate that one right if we can't eliminate it we're going to do a little off for research because every good buyer agent knows always touch yourself what every good buyer agent knows is we get paid in direct proportion to the information We Gather not the information we give so my job is to gather Intel once you're interested I want to know exactly how long's this home been on the market how many showings are they getting why is the seller selling is there any critical dependencies for the seller on what they're looking for in terms of time frame in terms of pricing what did they buy the home for what type of financing did they have when they bought it were did they get a concession these are all pieces of information we can use and potentially leverage to get a better deal okay that's my job that's the offer research phase again once we've identified something that we're considering now let's talk about an offer and this is really important I've done this so many times on an napkin we at the bar hey I'm thinking about buying a house I immediately go into the five components of an offer okay so guys look when you're thinking about an offer when you're looking on Zillow wherever you're looking when you see a house a lot of times people say oh it's listed for 400 I wonder if they take 380 which is a fine question but an offer really boils down to five things purchase price closing costs have you heard that term before closing costs let me explain it because you know and then I I go into it hey that's transfer Recreation taxes that's your title fees that's you know you break down closing cost for people and I'll do it when I do my video but for brevity I'm not going to dive into that purchase price closing costs contingencies okay you're always going to do a home inspection you're always going to have typically a financing contingency an appraisal contingency that's my job is to protect you when we get a house under contract you have the right to buy the house you don't have to buy that house and keep in mind the seller has one house to sell we can buy whatever we want we do not give our power away so purchase price closing cost contingencies deposit and settlement date okay there's five pieces to an offer so when you're looking at homes and I'm sending you some of this off the market inventory what a Savvy buyer what our buyers think is not oh I wonder if they'd take 380 hey I wonder if they'd take 380 give us a $10,000 credit give us 10 days for a home inspection with a $3,000 deposit if we settled in 21 days now we're talking now we're talking like a buyer who knows what's going on so you have to understand that is the offer process purchase price closing cost contingencies deposits settlement date bang and you can break in some time frames in there too 10 days for a home inspection five days to apply for the loan 21 days for mortgage approval okay once we get through that how we submit an offer is unbelievably important because guess what we sell 500 homes a year I'm on the listing side on a lot of these and most buyers agents disqualify themselves based on their lack of communication and how they professionally present an offer I got an offer today in five different PDFs no summary no pre-approval letter even if that's the best offer I'm thinking man I'll explain to my seller I don't really know what's going on with this agent I'm not sure if their representation on this side is going to be be smooth sailing so how we present the offers is very important and what a great buyer agent does is we package it up in one clean PDF give them a beautiful summary have our team involved which is our verified mortgage professional who has all your documents and we submit it over and we coach the listing agent on how to present this to the seller see unfortunately we play a little game of telephone I don't get to talk directly to the seller but I get to talk to the seller's representative in a lot of times we can influence that conversation between the listing agent and their seller but that's black belt stuff that's what we do hey before you move on because I I don't want to miss this subtlty like you were talking about the psychology of when when you're referencing you know great agents and you're touching and you're speak to that psychology a little bit if you don't mind because I think it's a subtle thing that makes a big difference as well well what we what we're trying to do is lead someone throughout the course of a transaction and showcase complexity and deliver Simplicity and no one wants to follow anyone that they can't learn anything from now right if the client thinks they know more than you and God bless them most of them do most of my clients do until you can showcase here's all these components of value we bring to the relationship and that's just a little you know I guess the NLP style thing where if you're looking at them and you're holding eye contact and you're touching yourself and you're nodding you're you're delivering a lot of subliminal messaging saying I'm the guy okay yeah you don't want to go to battle with me you want me on your side not the other side so that's very important and like Jimmy you've heard me say this many times from from stage in the talks is what's crazy is they don't even actually have to believe everything you're saying they have to believe you believe what you're saying that's right so if you don't deliver this properly it could blow up in face that's why hey look reputation or Preparation if they don't already know you and look a lot of our clients they come to you they've seen you online they're like just just show us the way and that's great but sometimes that's not the case and it would be nice to work with more strangers and not just our sphere of influence if you're trying to sell 50 100 200 houses a year you have to be able to get everybody right and when you're in the red zone and when you're talking to a ready willing and able buyer and they're thinking should we use this person should we not should we sign a buyer's agency agreement or not with them you're in the red zone right and when you're in the Red Zone you don't miss that's right Navy SEAL Sniper Center Mass we got to blow a hole right through them in a good way you know in a way that's gonna help them get what they want because one of the little lines I always sprinkle in there is you know what my my job really is my job is just to help you get what you want and do it in a fashion in which you're GNA say nice things about me on the internet ha now I already that's a little planting of a review there okay you can and you can stop anywhere and say that so so contract phase this is where a lot of people Miss as well because administering I got this from Allan buyer agent beware in his book how you administer the transaction once you have a contract very important so when we're now once we have a signed contract all the dates become live we have to apply for that loan within five days we have to schedule that Home Inspection within 10 days whatever the contract stipulates in each step of the way our whole Home Services ecosystem is going to get involved because now we have the lender we have the appraiser we have the inspector sometimes there's multiple inspectors is there a well is there septic is there a pool are we talking just structural and mechanical do we need someone to look at the roof I have these key relationships and because we're administratively gifted and I have a team that helps me with this is we're gonna be so on point that we're going to push this transaction forward in a powerful Manner and while maintaining your protection throughout the contract period okay and by the way I know every single appraiser in Baltimore we've sold 5,000 homes and I've saved every Appraiser's number so we have relationships and we can play this game if we need to okay but most of the time again through the contract period we're going to logically explain our situation for example something's up with a home inspection we're going to get a credit or we're going to have them fix it and instead of them just saying no we're going to coach the listing agent on how to talk to their seller throughout the process and then of course at settlement one of the components of value we bring to that relationship is our title attorneys here at home sales Settlement Services a will guarantee the lowest uh title fees will settle anywhere anytime at your convenience and will almost always be able to get you a reissue rate what's a reissue rate well Title Insurance the person who bought the house that you're buying they have a title insurance policy most agents don't do this you can call them and say hey could we get a copy of your policy and it cuts your fee by 50% I'll drive your closing cost down that's my job I'll get your closing cost cost down because I can effectively manage the entire real estate ecosystem so guaranteed lowest rate best Loan program I'll get you a discount on your home inspection I'll find off the market inventory I'll help you get what you want and negotiate like a beast and I'll have you all the settlement charges less because we have volume and if and if you don't have volume maybe your office does or maybe your your brokerage does and then post settlement you say look at the end of this relationship I want you to know we're just con this is a this is the beginning and I'm here for you so if you need a contractor a painter a mover anything you have access to our clients only Home Services guide and that's and that's how we that's how we like to represent a buyer so do you have any questions about what I went over oh this is so good this is so good and see what's what's great about this is you you literally just did this off the top of here because you've done so many of these so talk to the person who maybe has not done one of these what does that look like as far as training for your team is it role play is it laying this out and and just practicing this or how are you teaching people to move from where they are to where you are or to at least start hitting in that direction well look if you're going to be a real estate practitioner this is this is your job okay so we need to know these things and it's not just opening doors and showing property and that's how the public views these Buyer Agents we're all fee Pirates scum okay we're overpaid that's actually not the case but we let people believe it because we haven't developed the skill to articulate exactly what we're doing so when you really think about it and again I'm I'll draw this out for you and we'll put it in the comment on YouTube we'll make sure they have a place to get it all you're doing is talking about exactly what you do do you help people get pre-approved you do do you help them search for properties you do do you help them understand market dynamics you do the key is in each one of these bullet points I probably miss 10 things there's other little pieces of value you can put in there and then the one thing that I love that Chiron does now this is a Chiron thing when he talks about hey real estates about contracts and Power Players and every real estate consumer should understand the three agreements that govern a real estate transaction yeah there's a listing agreement between the seller and the listing agent there's a buyer agreement between the buyer and the buyer's agent and there's a purchase contract between the buyer and the seller that's all it is now I'd actually probably frame that up front maybe before you even get into the pre-approval because at the end after you've shown this value you say look typically how it works have you heard about the lawsuit most people have but they don't know what's going on you just draw it out say well typically all the money in the transaction the buyer is giving to the seller because they're buying the house and then the seller would pay the listing agent and the listing agent would share their commission with the buyer agent that's not going to be the case anymore instead of the listing agent paying the buyer's agent the seller can pay the buyer's agent directly or the buyer can pay but it doesn't matter because it's all one pool now in order for me to represent you I have to have an agreement signed saying hey this is my agent and whatever number we put in there is the max I can get paid so I always like to put in there 3% now a lot of times 96% of the time right now and this could change right because August is coming the seller is going to be offering two and a half or 3% if if they're offering 2 and a half% I'll accept that if they're offering 3% we'll accept that that's already predetermined if the seller's not offering it that's when we're going to have this conversation to say hey look the max I can get is 3% and we'll work that out in negotiation but just so you know we can't go under two and a half percent and then I just leave it at that you stop talking and you tell you what I've gotten all so I'm working with five or six buyers i' as I was telling you Jimmy I'm back in the scene I'm back in the weeds I'm taking buyers out I'm taking listings I'm enjoying I I like doing this stuff me too if you can explain that you're G to save them money throughout this process because guess what the most consumers even if they've talked to agents before they' bought a house before they've never seen this on of timeline with 30 things that you're GNA do and you are going to do them you're not creating extra work for yourself right creating transparency you're creating honesty and the fact of the matter is you just want to get them what they want and hopefully happens say nice things about you on the internet because you're going to deliver some unexpected extras in there you're going to find them some property and you're you're going to negotiate properly so that's it in a nutshell and there's a lot of different complexity to it but listen this is the this is the thing and this is what I love about this and so U is we keep hearing about how do that we need to communicate value well what you did is just articulate a process to be able to communicate value um so from that standpoint whether you're an agent that this is exactly how you do this I mean I would copy it almost word for word but if you're someone who wants to add some things maybe that you do or maybe eliminate some things that you don't do if you'll follow this timeline this is absolutely going to give you a upper hand on your competition so if you're an agent you're listening to this and you know there's other agents that are friends of yours that maybe are wondering what they're going to do as these changes happen or maybe you're having difficulty communicating that value I would encourage you share this information with them watch this video multiple times pause go in there and write this out in your own language and in your own tone in a way that you have confidence when you're presenting this Andrew um man I just appreciate your transparency with the industry this is going to help some people um and so listen if there's an agent out there that has a referral for the Baltimore metro area how would they get in touch with you and your team well we're easy to find where the sure group real estate sure groups our team name sure group real estate anywhere on on social media I'm on Instagram Undem call text email and like I always say if you give us a referral it's like shacking his Prime in the paint it's we're dunk in this exactly and and let me just say this as someone who has experienced passing that off you know and got the assist he's absolutely telling the truth so um I appreciate everything Andrew listen I know you guys got some value out of this make sure you reach out to Andrew let him know how much you appreciate it we'll talk to you guys soon thank you thanks for watching the video I specifically chose the video below for you because it builds on the one you just watched I hope it's helpful and I'll talk to you soon