Communications Strategies for MLS Policy & Practice Changes
On August 13th, RWorld Members and BeachesMLS Subscribers will adopt the MLS Policy and Practice changes, requiring Realtors® to adhere to NAR’s settlement. Despite these changes, the fundamental principles of the real estate profession remain unchanged. In times of transition, the key to success lies in active listening, thorough preparation, and effective communication.
Here are a few strategies for establishing relationships, conducting negotiations, compensation, and outlining expectations.
Enhancing communication strategies through technology and marketing
Highlighting the significance of company brand and image
Clarifying expectations outlined in a Buyer Broker Agreement
Research from 1000 Watt surveyed 630 real estate professionals in mid-June. The study showed that 92% of agents find technology important to their practice and rely on tech tools. Technology products and tools can efficiently generate statistics, capture leads, and automate messaging that benefits clients and saves Realtors® time and energy. BeachesMLS offers its subscribers an extensive arsenal of vetted MLS-based products found on RWorld.com/products.
Another statistic revealed that 50% acknowledged the significance of their company's brand and marketing materials in building their clients' trust. Fostering a culture of trust consists of having the correct business practices in place that give clients a clear understanding of the process and your menu of services. Additional research revealed that 70% of real estate professionals have already started informing their buyers about the possibility of direct payment, with 28% of buyers expressing their acceptance of this arrangement. As only a quarter understand the process, it is imperative to create a clear guideline of expectations from the beginning to increase the trust of those clients with these new regulations.
Realtors® around the nation will soon be required to implement Written Buyer Agreements to set clear expectations about their working relationship with their clients. These agreements outline an actionable plan of understanding between both parties regarding services and compensation expectations. Explaining the Realtors® duties helps give their clients peace of mind, knowing they will be helped through the home buying process, from finding the right property to negotiating the best price and representing them to the best of their ability.
By BeachesMLS Staff
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Source: 1000WATT
