Thank you so much for, being here today. This, as these as these sessions continue, what's really encouraging is we see a lot of same faces, and, we we're noticing the difference in the tones and the conversations that have been happening over the course of this last, oh gosh, thirteen days, twelve days, something like that. It it's been so much fun. I know that that I've had a blast. I'm sure Jerry and Christina have too. Yes. Definitely. Yeah. This is fun. I'm encouraged by all the participation. I mean, this is impressive with all the the number of agents showing up to this. So it means that they're, taking control of their business and getting ahead of their competition, so this is fantastic. Yep. Absolutely. Yeah. So today, we're talking in this session about the BBA toolbox. We're gonna talk really, we're gonna kinda go through each type of agreement of when to use it and why to use it. So every keep in mind, there's not a one size fits all. Right? Every situation is incredibly unique. And the real interesting and creative fun part to this is is really paying attention to those conversations that you're having with those potential clients, right, and finding out what's important to them, finding out what they're looking for in representation, and being able to to have the right moment to bring the right form and say, hey. I understand, you know, whatever the situation is. This is the perfect way for us to move forward. Let's explain it and dig in from there. So, it's it's important, number one, to go in with a winning mindset. You know, we've got to understand that we are here to assist these buyers. We're not here for our own means. We're not here to focus on what's best for us. We're here to focus on what's best for them, and and that's something we've always been doing. We've always had that skill. But with regard to this settlement and with regard to all these different changes now, we've gotta really get a handle on how we're presenting these things. It it all boils down to transparency and and communication. And so we wanna make sure that when we're going in, we know we're the agent for them. We know we're gonna give them the absolute best, representation in whatever their scope means for them. And so keep in mind, you know, every agreement is a tool for every agent based on whatever scenario you're in. It's important to really drive buyer consultations and not just lean on nonexclusive or showing agreements. I wanna say that upfront. Buyer consultations are a must now. We've gotten away from that mostly over the last, you know, half a decade probably. It's been really easy to get away without them. But that right there is is one of the primary things that moves this from just an industry to a profession. You're not just gonna go straight into a situation with a surgeon without having a consultation. Right? You're not just gonna go straight into hiring an attorney without a consultation. Right? We're professionals. So we wanna make sure that we're setting the right tone. We've gotta make sure that we're prepared to understand our value in articulating it. I know that that, Jerry and Christina have had a lot of experience with this, and I I'd love to open this up for their their input. What are some of your thoughts on on some of these points and, especially on how to articulate that value? Well, you know, the, I like what you said is, you know, doing the buyer consultation is we should have been doing that all along. Right? We kinda took that part for granted and pushed it to the side and say, let's go see houses. You know, those days are over. We have to have a buyer consultation is just as important as a listing consultation is. And we should have been doing this all along. I love the new changes that are happening because it's it's, it's bringing the level of agents up. And, I don't wanna say making us, but prompting us to do things that we should have been doing all along sooner in the earlier in the process because we've all worked with buyers in the past, on a verbal or implied agency, spent weeks or months with them only to not have an agency agreement signed and then go to someone else, sign an agency agreement, and go under contract. Now we're Yeah. Addressing it early so that doesn't happen to us anymore. So I think it's a good thing we can turn it into a positive and conduct ourselves accordingly and and make it a good a really good positive for our industry. Yeah. And and just to continue on that, it offers agents and and buyers a level of protection, right, from from the get go. Right? We know what each of our roles is going to be. We know what we're promising to to to provide for you. And then like you said, Jerry, it is going to prompt us to be the best professionals, to and and to provide the best services. I mentioned last night that when you're trying to explain value, we all we're telling you in these classes, show value, show value, but, you know, like, how do you do that? Right? And I I I used an example, yesterday. Just make sure that you know all those steps that you're taking behind the scenes. Sometimes your buyer doesn't know what you're doing. So if you're looking for the best rate for them, if you're looking, you know, to provide them multiple, third party, vendors to help them through their transaction process, if you're looking to save them money at every corner, those steps start articulating that to them because sometimes we're just doing it naturally, and we're like, like, oh, they don't need to be bothered by it, but they do need to know what we do behind the scenes. And so that's one way to articulate. This is what I'm gonna do. This is how I'm gonna help you, and this is why you want to work for me. Yeah. Christina, I I remember you saying saying last night, don't assume they know what you do. Right? Which I love that. I actually wrote it down. Don't assume they know even if it's a friend or family member, don't assume that they know what you do. Articulate it to them. And and I added to that saying, put your services in writing. Put the road map in writing. Hey. This is what we're gonna do. This is how it's gonna shape up. These are here's the step by step process, and here it is in writing. Your competition's not putting what they do in writing. They're just assuming that they know. Right. Absolutely. And that clarity is is so important. You know, one of the tips that I've I've been sharing with agents as we've talked through, you know, how to discuss these different things, and and, you know, everybody is kind of in the same boat, right, where we all know that first time homebuyers have a tough time coming up with money, period. And and most buyers are in a position where they're already needing to negotiate some things. And and I think this is where we can really sell buyers on our value if we're going up as as, you know, market experts, not just on pricing and not just on where to find the right value for homes and that kind of thing, but on the right solutions for the whole piece, all the different pieces of the puzzle. And we've always, you know, had issues with typically trying to negotiate closing costs, assistance from a a seller to a buyer. We always, you know, if we're working with first time homebuyers, I hope we're we're always thinking about, ways to get first time homebuyer assistance programs and down payment assistance programs. I recently read in an article earlier this week that eighty percent of first time homebuyers qualify for down payment assistance, but only thirteen percent of them actually apply. That's a whole marketplace that we can really build build resources for our clients. And if we're going in and we only you know, they've only got a small piece of the puzzle to deal with, and they think upfront, well, I've got a little set aside for down payment or I've got a little set aside for for closing costs. I can't pay commission, but we can get them into a down payment assistance program, and we can get their, their concessions, their, you know, seller concessions for their closing cost. Guess what? Even if the other side isn't paying commission, we've saved our buyer all that other money that they were gonna put in, and that can go towards commission. There's so many different ways we can build our value for our clients. But I love this when it says here, lean on satisfaction guaranteed. Right? And I've told my clients this for for years when I was a producing agent. You know, try me, trust me. And if you're not completely satisfied, I'll tear this agreement up. We'll walk away. You don't owe me a thing. Satisfaction guaranteed. If you don't see the value I bring to the table, let's just walk away. And and, you know, no harm, no foul. Everybody goes their separate ways. You know, every agreement is is open to that. Go ahead. Sorry. No. I'm good. I was I was agreeing with you. I'm I'm Oh. Mhmm. Mhmm. Telling you to keep preaching. So, you know, with that, we we've gotta understand that when we're talking to these consumers about these options, they are in the driver's seat, and we're we're giving them every option available. Obviously, we're telling them all of our value. We're we're telling them all the reasons they should, you you know, be using something that covers more representation maybe. But here are all the options now. And the best way you can build rapport with a client, if you don't have it already, is just make sure that they realize they're in the driver's seat and then just roll with it. And then help navigate that incrementally to get them along the way. And here's where we jump in, and we're gonna talk about each of those incremental steps. Right? So, obviously, the first increment is when they say no agreement. They're they're not willing to have an agreement. Right? Just don't do it. Obviously, if they wanna see that house, they're they're gonna have to sign an agreement with somebody. Right? Mhmm. Don't let don't let yourself be that liability. Oh, sorry. So yes. No. No. No. No. That's fine. Go let's let's jump in and and sweet because that one's just a that's just a no. Don't do it. So That's just an easy no. Exactly. It'd be a violation of the rules. Yeah. Right. Exactly. It's a no. That's one of the one things we'll say no on. Right? Is that it? Mhmm. Basically. There's no way to get to a yes on that one. Okay. Okay. Alright. So the next step in the toolbox, the showing agreement, that's just property specific. I I actually love these. I've I've been doing these since the day I got my license simply to try to build that rapport. Right? When you talk to somebody and they say, hey. I'm not really sure. I don't know you. I don't really know what representation means. I don't really get this, or I'm just not comfortable. A really easy button in the door is to just simply say, I tell you what, try me on one property. You know, if you don't like that property, you don't owe me a thing. We're not gonna write a contract. You know, there's there's no no commitment. We can write it literally for one day and just in the market area write this specific address or whatever your form allows in your state. And and that can be a moment. It's hard to say no to that. Right? They wanna see the house. They can they can see it with a short form that just doesn't give any sort of, real agreement, or they can really embrace a representation agreement for just one particular showing. Right? And and when we do that, it's an opportunity to build that trust. You can show them why you're the the expert in all of this. You can point out things about the home. You can give them all the kind of insight and value that you bring to that transaction and sell yourself. That's the best opportunity you can ever have for for a client that's not really sure if they wanna jump in and go into a full, you know, relationship with you. Let's see. The the question in the chat on this says, would it still have the compensation outlined in that one day agreement from my understanding? Now some of this is gonna be based on your state specific forms. Right? I can tell you that in Texas, there is definitely the option to do that. You know, if they like that house and they move forward, you're the procuring cause with that form. Again, you wanna check with your state broker for state specific information. Not all not all states have a showing agreement or allow a showing agreement, including mine, which is North Carolina. So check with your broker on that. Some states don't have a, like, a short showing agreement like that, but they will allow, the Zillow showing agreement. So you really have to dive in with your state and make sure that you're doing that correctly. In our state, we don't have a showing agreement, but they will allow the Zillow. So, continue on. Sorry. Didn't mean to interrupt. Oh, no. That's that's great information. So where when would you use this document? Right? It's gonna be with those people that you're just now building a relationship with, you know, Internet leads, open house guests, you know, referrals that you've never met before. I think anytime you have a conversation, and you know what these conversations look and feel like. Right? Where you're having a conversation and there's just that hesitance. There's not that rapport. There's not that trust. I would, at that point, just start to tell them about, you know, short versions of what, you know, the regulation is. Hey. You know, now we're in a place where, with the new regulations, I've got to make sure that I'm transparent with you about any compensation. And this whole process kinda has to start with making sure you're aware of what representation means and your options about it. And you just kinda outline those options, and then you say, you know, this is this is the one I'd love to to try with you to see what you think about me representing you. I'd love for you to to try that and see how you feel. It's a really it's a really low threat conversation. Let's move on to the next one so we can keep on our time schedule. Sure. So I'll take over that one. This one is the, nonexclusive buyer broker brokerage agreement, and this is just an additional, level of protection, for for for what I say. Protection is just it's like a bigger it's a different commitment. Right? So with this one, if you're have a potential client, they wanna see the home. They're still not comfortable committing to a long term agreement, but they know they wanna see more than one house. They're they've you've met you've done your buyer buyer consultation, and they're, you know, moving from that Internet lead or that open house lead, and you guys wanna take a test run. So, we always do wanna push for the exclusive, and we wanna be able to tell them why, it's more valuable for them as a buyer. But this is another option that you can use. Now just remember that when you are signing a nonexclusive buyer brokerage agreement, that that buyer can sign with other agents, other nonexclusive agency agreements. Okay? So what happens there is that you need to explain to your buyer if they are signing multiple agreements, make sure they're not getting into a position where they might owe multiple commissions. So that's one thing to consider when you're talking to a client. You know, you're gonna get into some procuring calls, conversations, but make sure they understand this nonexclusive buyer brokerage agreement usually as far as, a short term period. Depending on state, I do wanna bring up depending on state, you still have agency requirements when you sign these agreements. Okay? So you still do need to provide and do your best and your fiduciary duties for your clients. It's just a term agreement. So kind of some of the conversations I've heard when when we're talking about nonexclusive buyer brokerage agreement is that, yes, we can terminate. Yes. It's a short term. You know, I some agents may not give you the the time. Some agents may not put you as at the forefront or give make you their priority when you have a nonexclusive buyer brokerage agreement because they do have other clients that are signed exclusively, and they get the benefits of their entire range of services. So that's something else to consider. If you're signing a non exclusive, we have a short term agreement. I'm still gonna do my duties, but if you sign this exclusive one, you get my full range of services, and and this is what those brokerage agreements will will really break down for them. And so, again, the possible scenarios for when you use them, your Internet leads, your open house guest who wanna tour other properties, new clients on that first showing, or when you're doing that buyer consultation and you still have those nervous buyers and you're still not sure if you guys are gonna be a good fit for each other, remember, you both have to agree and you both, you're not forced to work with anybody. If this is a tryout one, are they serious buyers? You know? You can do the nonexclusive and have it for that short term. Yeah. And I'm just gonna look at the chat real quick. I haven't heard of non exclusive BBA for Florida. Yeah. Again, these are brokers, sorry. These are state specific, and so there are we're just gonna go over the the ones that are there are different types. But in in this case, if your state doesn't allow it, make sure you're checking with your broker for your next best option. And I think that's what we're gonna push next is your exclusive buyer brokerage agreement. Yeah. So, I mean, it's kind of a building blocks or stepping stones, if you will, as you, learn about your client. And like Christina just said, they're wanting to figure out buyers are wanting to figure out, can they work with you? And are you providing value to them and helping them through the process? But we're also deciding, can we work with them? You know, news flash, we don't have to work with every buyer that we come across even though we yes. We have bills to pay. But the amount of energy and time spent with some buyers, you could have been working with three other, better buyers, in that situation. So, I always like when, we remind ourselves of that. It's okay to respectfully decline to work with a certain buyer that maybe it's a personality conflict or they're just not committed. They they're, you know, tire kicking, and spending months doing so, that kind of thing. So, now we're gonna move on to exclusive buyer broker agreement. And, I I'm hearing in the chat there that not every, state might have a nonexclusive. So some of the ways you can handle an exclusive, buyer broker agreement, You know? Of course, what it says here, pro tip, this is the ultimate. This is what we're working towards. This is the building blocks. Best case scenario is to always get this agreement signed. I'm gonna start with exclusive. And if I can't get them to sign that, I'm gonna back down to maybe some of the others. This allows you to give your, like Christina said, full service access. But here's some things we can do differently, especially for those states that I'm recognizing in the chat that might not have a nonexclusive. You can limit your exclusive buyer agency agreement. So you just met them. You haven't been working with them very long. You can sign an exclusive buyer agency agreement for one day for a weekend. They're coming into town from out of state. They're gonna be there Friday, Saturday, and Sunday. You could sign that agreement for those three days. It could be an agreement for one house. It's still exclusive for one house, three houses, ten houses in a weekend. Get to know each other and learn each other, and how compatible you are with working with each other, and then, extend the range of your agreement from there. It might be longer. You go from one day or three day weekend to a couple weeks to a month to three months, you know, whatever however you see fit as you move forward, or from one house or two houses to, you know, or it could even be specific to a certain town. Only houses in this town. Only houses on this side of town. You know, whatever. The the the north side of the town. It can be very narrowed and specific. I remember, you know, when I was in full, on sales mode, I remember having an agency agreement, an exclusive buyer's agency agreement with the buyer for my area. And then they had another exclusive buyer agency agreement. So I was on one side of the state, let's say, and that other agent was on the other side of the state. I was still willing to work with them. I had a fifty fifty chance that they're gonna they're relocating. They're gonna choose one of the two areas. I was still willing to do that. So you the point is is the exclusive buyer agency agreement can be narrow in the beginning as you get to know each other, one property, one day, and expand it from there as you get to know each other better and realize it's a good fit. And then possible scenarios, it's for everybody. This should be the goal. It's a potential client, pushes back, revisit, gain that rapport, gain that trust, articulate the value. We're gonna have more classes coming out in September. I think, Shay has, nominated himself to teach some classes. I'm gonna be teaching a six week class called launch, a six module class called launch, and it's gonna cover all this stuff. So, I'm kinda doing a selfless plug here, you know, shameless plug. Come to my class in September. It's called launch, six modules, and it's gonna go over all this gaining rapport, trust, articulating your value in more detail. Perfect. And I love how you how you brought that, straight to us. Basically, hey. Just because it's exclusive doesn't mean that you're restricted to a time frame either. Right? You can still add those modifications. You can still agree to a specific term, specific area. And and it just hit me. Like, we could always do this. Even in Texas, we do Mhmm. Like, based on area. And that's something that we can start using and bring back into our tool toolbox. The the difference between and and and how it works in my state and other states that I've talked to other managing brokers between the nonexclusive and the exclusive. The exclusive spells out what you intend to be paid. Right? If the seller is not participating in that, then the buyer would be responsible, or the seller might participate in some of that, but not all, then the buyer picks up the difference. In a nonexclusive, it, and at least in our state, it indicates what we intend to be paid, but does not commit the buyer to pay it. So I don't want that. I don't know about you. I don't want that. I'm gonna go straight to an exclusive and limit it in the beginning and expand it later. And I think that's how it works in other states as well. But, again, check with your your state specifically. Yeah. We want again, we want the the most amount of protection for you as agents. We don't want you to ever be in a position where you're working for free, and we also wanna be able to to have an agreement that satisfies your client's needs as well. There is one question in the chat. If you have the exclusive buyer broker signed, do you also need a showing agreement per property tour? And and it's it's no because you already have that exclusive agreement. That's what we want. That's telling you we are working together, for this period of time. There was also a question about and I I don't know that I can answer this, but maybe one of you can. If you're going to show new construction and the builder is paying the buyer's agent, what would you put in the showing agreement? Is that something that you guys know how to answer? I don't. I would sure. I I would still put your your expected compensation in that buyer broker agreement because keep in mind now, you're still gonna have to have that reflecting the same thing that the seller or builder is offering you, from the other side. Both parties have to reflect the same thing, so we still need to get that agreement. Keep in mind, also, if you write the BBA for a certain amount and then you find out later that the builder is offering a BTSA or any sort of additional compensation, you're gonna have to amend that BBA to reflect that change in compensation. Yeah. And then just an extra step if you are working with builders. I mean, I I've suggested even before this settlement, call the builder and see what they're offering. Right? And call it and see if they're offering any bonuses. And And so that way you can have that conversation with your buyer beforehand. Okay. If we wanna work together and you like this builder, they are offering this commission, and they are offering this bonus. So I want you to know this is what I'm going to put in our agreement. And then you don't have to have that word conversation if you have to amend saying, oh, they're giving me a five thousand dollar credit, or a bonus, and the buyer's asking, well, what are you gonna do with it? Right? Like, if we've had that conversation already, I've I've been saying this is my compensation. So just a little bit of pre legwork will will help those those awkward situations. If you if it's not awkward for you at all, then, you know, go on with that. Nice. Sorry, Shay. I didn't see that you answered that question in the in the comments. Oh. No. No. That's fine. Totally. One thing I'll throw in here at the end too since, since Jerry got to get a shameless plug. If you're really stressed out with this stuff and all this stuff is really weighing on you, next Wednesday, I'm actually teaching a class called avoiding burnout, really and truly. And it's gonna be a monthly class that's gonna be taught right here, at LPT. So be watching for more information on that, and it it is starting next week. So if you're you're struggling with this, we wanna help make sure we're bringing some support there to you. Yeah. I'm looking at the chat, and there are a lot of, broker specific questions in there. There's the, like, specific forms and when I need to use that, the buyer to broker compensation. Those are really great questions. I would say for for those types of specifics because, again, it's it's state rules and regulations. Do submit a ticket. Do reach out to your broker on those. There was one that I want you guys to really to to to to bring hone in on if you if you don't mind, Jerry and Shay. What happens if you don't put anything in that commission for the in with these, agency agreements? What if you're putting zero? That's one of the questions on the chat. And I think, Shay, did you answer that already? Oh, he's muted. Oh, you're muted. Yeah. Yep. He's finding his mute button. There he is. Yeah. There we go. Thank you. Basically, if you put zero in there, then you're just agreeing to not be compensated. Yeah. You're welcome. So let's not put zero in there. Yeah. And just not Again, so the only time we're saying no is when we decide not to use a written agreement. And then we're highly suggesting that you don't put a zero in that box because, remember, you can only get up to that amount. So, we are about at about time. Again, if if there are any additional state specific questions, we do have, like, a broad range of what type of agreements that are allowed in each state. Go ahead and reach out to your broker. I do want to besides shamelessly plugging for Shay and Jerry, those would be great classes for you guys to attend, share with you our our schedule for tomorrow and and Friday. We are on Wednesday. Right? So we still do have a couple more sessions. See evening. We have a seven PM eastern session and a ten PM eastern session. You might see some of us repeating in the evenings. And then it will hold schedule on fry on Thursday. And then Friday, we have releases coming up. Okay? The these are the ones that you don't wanna miss. We have closing ceremonies, and it's a lot of the marketing tools and the power tools. So make sure you put those on their calendars and, join us there. Nice. Absolutely. Thank you, folks. Thank you all for joining. Thank you. Have a great evening.