Confidently Navigating the NAR Settlement as a Real Estate Agent
Change can be unsettling…
But change is normal. It gives us the opportunity to grow, evolve, and serve our clients the best we can.
In light of the March 2024 NAR settlement, I’m sharing a few resources for agents to face these changes confidently.
1- Establish your personal brand & make Instagram work for you
Use this as a checklist:
My face and personality are apparent throughout the posts I share
I utilize consistent colors and fonts in my marketing
Most or all of my posts have visible titles, including reels
There’s an obvious way to contact me on my Instagram page
My name and the city where I serve are included in my @handle or display name
Watch this training to tune up your personal brand and Instagram profile.
2- Share content that speaks to your ideal client
Identify and speak directly to your ideal client in the content you share. Remember, if you’re speaking to everyone, you’re speaking to no one in particular. (Not sure who your ideal client is? Think about the clients you’ve most enjoyed working with in the past).
Focus your content on your unique personal stories and lessons learned instead of generic tips. Avoid sharing about topics that are easily found on Google.
Perform a quick audit: Doing a quick glance at your Instagram profile right now, is it obvious who you’re speaking to?
Watch this training to create content that speaks to your ideal client.
3- Define your lead generation strategy
Reflect on your previous clients. Where did they come from? Can you focus your efforts in that area?
Consider praising those who have referred clients your way. Loop & Tie offers a gift catalog to share with folks who have recommended you.
Create a free resource that your ideal client would find valuable to build that know-like-trust factor. Swap or refresh this resource from time to time to stay fresh.
Watch this training to create a free lead magnet and landing page.
4- Nurture your current audience and client base
Engage meaningfully with your current audience and past clients on Instagram. Show your genuine interest and support of the things happening in their life!
Share your behind the scenes on Instagram stories (people LOVE seeing behind the curtain). C&C Members: Use our daily strategy story prompts for ideas to get started.
Share a value-packed email newsletter. Share personal stories and be the local resource - include info about upcoming events, local market updates and new businesses opening in your city.
Watch this training to create your own value-packed email newsletter.
5- Create a buyer agent resume
Outline key career milestones, your proven track record, numbers and data to support your expertise, your unique value proposition, testimonials, screenshots of client love, key negotiations and money saved for your buyers. Begin collecting social proof of your wins and the value you’re bringing to transactions. You can use this information to establish credibility on future consults or appointments.
6- Articulate your value to your buyers
Provide a tiered service offering sheet to review with buyers. Know your unique value proposition. Questions to consider: What unique services do I provide, what industry partners do I collaborate with? What are my areas of expertise? What praises have I received previously?
7- Establish a buyer broker agreement
Having this agreement in place will ultimately protect each party (and your valuable time!). Work with your brokerage on this.
8- Check out NAR’s Accredited Buyer Representative (ABR) accreditation course
Normally $295, this NAR course is available for FREE through 2024. It’s the first phase of receiving your ABR designation.
Per NAR, the focus of the course is learning how to create a buyer representation agreement, conducting a successful buyer consultation, and communicating your value to clients. The course also offers frameworks for effective buyer representation, buyer agency relationships, negotiation strategies, market analysis, financing options, contract forms, and ethical considerations.
The curriculum provides practical insights and tools to help agents successfully navigate the home buying process on behalf of their clients.
