In this episode Michael Fanning talks with Cassie Walker Johnson.
1. Introduction and welcoming Cassie Walker Johnson, a real estate agent with Windermere since 2005, who has been prolific in helping agents understand the changes happening in MLSs, particularly the buyer agency agreement process.
2. Cassie's motivation for writing the article "Why Buyer Representation Should Matter So Much to the Sellers" on Inman was to address a client's question about unrepresented buyers and to highlight the crucial work that buyer brokers do, which benefits sellers.
3. Cassie emphasizes that sellers may not fully grasp the significance and impact of these changes, particularly the fact that homebuyers currently cannot roll their buyer agent compensation into their loan, meaning they must bring cash to the table to pay their agent.
4. Buyer brokers provide valuable services, such as:
Lender connection: Ensuring buyers work with reputable and responsive lenders who can perform and close on time.
Documentation management: Helping buyers understand the extensive paperwork and contracts they are signing.
Market analysis: Providing a comparative market analysis to ensure buyers pay a fair market value.
Contract guidance and contingency explanations: Guiding buyers through the purchase and sale agreement and explaining contingencies like financing, inspections, appraisals, and more.
Earnest money handling: Delivering earnest money funds to escrow on time.
Transaction deadlines: Ensuring all deadlines and timelines are met.
Inspection access: Facilitating inspections and managing the inspection process.
Appraisal assistance: Providing comparable properties and supporting the purchase price to ensure the property appraises at value.
Negotiation support: Helping negotiate and collaborate with listing agents if appraisals come in low.
Transaction coordination: Keeping all parties on track to ensure closing on time.
5. Cassie suggests that agents can benefit from understanding and articulating the value they provide to clients upfront.
6. Cassie offers classes through ProDev to help agents improve their buyer broker skills.
7. In July, Cassie will be speaking on the main stage at Inman and conducting buyer workshops.
8. Cassie emphasizes that the process for buyer brokers will not change much, but they will need to systemize and determine when and how to introduce the buyer agreement.
9. The industry has shifted many times, and this is just another change that agents will adapt to through education and learning from leaders.
10. Persistence, consistency, and being open to learning are keys to success in the face of change.
11. Cassie invites people to reach out to her through her website, cwjmarketing.com, or her blog, where the referenced article is available for free.
12. The host, Michael Fanning, thanks Cassie and encourages listeners to share the content, provide suggestions, and reach out if they want to be on the podcast.
Cassie Walker Johnson's contact information:
Website: cwjmarketing.com