Post-NAR Settlement: 5 Essential Strategies for Buyer Relationship Marketing
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Agents who recognize the upcoming changes and strengthen their client relationships will be well-positioned to capitalize on opportunities as the market evolves.
As we enter a new reality mandated by the NAR lawsuit settlement, once it’s approved, the required changes in practices—decoupling compensation, not displaying commissions in the MLS, and requiring a signed buyer-broker agreement before showing homes—may offer a silver lining. These changes could push our industry to significantly improve buyer relationships.
Having been in the business of Real Estate consulting for almost 20 years , I’ve lost track of how many agents I’ve spoken with who assumed their clients were loyal, only to find those clients ended up purchasing a home with someone else. It’s clear that many agents have played “fast and loose” over the years, neglecting the critical steps needed to secure client loyalty.
To prevent buyer defection moving forward and hang onto client loyalty, here are five key activities every agent should focus on:
1. Capture Complete Client Information
When evaluating your contact database, it’s common to hear agents report a high number of contacts. But the real question is: "How many of those contacts include a full name, mobile number, email, and physical address?" The answer is often surprisingly low.
This missing information is critical. In the new landscape, accurate and complete details will be essential for properly executing buyer-broker agreements. A client's willingness to share this information signals their commitment and readiness to move forward.
2. Solidify Client Relationships
A positive outcome of the current changes is the push toward mandatory buyer-broker agreements. This shift is already gaining traction, with more brokerages and Realtor associations requiring formal agreements.
Initially, some buyers may resist signing. However, as this becomes standard practice, every agent will need these agreements in place. This change offers a valuable opportunity to formalize and strengthen your client relationships, ensuring they stay with you for a defined period.
In my experience, even non-binding agreements—when presented with clear benefits and expectations—create a strong connection with clients. It’s rare for someone who has signed such an agreement to switch agents later on.
Interestingly, the agents who secure these agreements might not always be the first point of contact for the buyer. This highlights the importance of taking the initiative—what others overlook could be your gain.
Remember, buyer-broker agreements have set durations. Be sure to set reminders to renew them as necessary.
3. Maintain Consistent Communication
Complete client information isn’t just for formal agreements—it’s also crucial for ongoing communication. Not all clients are ready to buy immediately, so staying in touch is key.
Implement a strategy that ensures regular interaction—whether through calls, texts, emails, or newsletters. A 36-touch program, for example, can keep you front and center in your clients' minds.
With a good CRM, you can automate many of these touchpoints, such as property alerts and market updates. The goal is simple: maintain a steady presence.
4. Refine Your Communication Skills
Adapting to the new market conditions requires more than just paperwork—it demands sharp communication skills. With changes in buyer agent compensation, you may face resistance from clients. Don’t leave these critical conversations to chance; prepare and practice your scripts until they feel natural and confident.
5. Be Proactive
Although the NAR settlement isn’t quite final yet, the industry is already evolving. Agents who act now to adapt will be better positioned when the new regulations take effect. Start implementing these strategies immediately to ensure you’re ready for what’s next.
We can help you with all of these. We have been working with agents for almost 20 years on their CRM’s, Relationship building, and keeping in contact with your database.
Our new product, Empowering Realtors: Navigating the NAT Lawsuit Changes is full of Real Estate Scripts, articles to help you move forward , a BBA Information Guide Flyer and a one page Flyer – What value do Real Estate Agents have.
Reach out and we can talk about how we can help you with these items, and check out our Product Page for really helpful tools to help you survive and THRIVE during this transition.