Describe the idea/Philosophy of the 'Agent Solar System'
As agents, we need to take ownership of the experience for our customers and are responsible for how they feel. The solar system portrays how we have more power than we think to control and impact the overall experience for our clients.
Use this feature in Agent Tools to better control what cities and zip codes you get scheduled for during a given day
In a recent collaborative meeting, our agents said doing THIS was the most critical step in getting your buyer's offer accepted.
Building rapport with the listing agent.
If you are selling a home and the property was purchased with Redfin, what is your role as it pertains to historical disclosures?
We must access the disclosures from the previous deal, DR will notify you, and you must share them with the buyer, this is not an option and is legally required
You have two customers who want to write an offer on the same property, what do you do?!
You cannot write the offer for both customers, one must be passed off to another agent on the team for that offer only. If the offer gets accepted the agent that wrote the offer gets to keep the customer, you may agree ahead of time to a bonus split. The client will revert back to the original agent if the offer is unsuccessful
Describe ways we can 'own the experience' as it relates to inspectors and the inspection process for our buyers
- Set expectations about inspections and property conditions in SS (use a sample report as example)
- Create and use a template email prior to inspection and after you send 3 inspector recommendations
- Set up 3 preferred inspectors in your Agent Tools profile page (use the email template in Agent Tools)
- At inspection event, at summary of findings, ask inspector what may be the top 3 or 5 things found and if they are somewhat normal to see with regard to age/area of home
Where in Agent Tools can you see a history of the customer's agent assignments along with other valuable information about who has interacted with the customer?
On the History area of the customer profile page in the very bottom left
Use this feature in Agent Tools to see if one of your teammates has closed a deal with the Listing Agent.
What is the Agent Scouting Report.
Our team sells a lot of homes!! If we have had success with a listing agent, leverage that relationship to get a leg up on the competition!
Your buy-side customer wants you to submit multiple offers on their behalf at once, is this something you would do? If so, how?
- Should only be done if client demands it
- May legally bind the customer to buy two properties
- Should check with attorney first
- If one offer is accepted all other offers must be withdrawn
What date should be included in the top left of all offers and listing agreements?
The date the offer/agreement was WRITTEN, not submitted, signed or otherwise
Describe ways you can leverage your lender to create a better experience for your clients
- Set up 3 preferred local direct lenders in your Agent Tools profile page (use the email template in Agent Tools)
- They can run preliminary numbers on properties to help provide customers a good understanding of their payment (better focus than just price of home)
- Can pre underwrite your clients to help provide clarity on finances and combat questions regarding costs (strength buyer offers) – no loan contingency, fast closing times like cash
- Have better AMC’s and control over appraisal turn times/results based upon better vetted appraisers
- They can help set up Strategy sessions and progress the sale by offering your client and you the information needed to drive decision making
- Call the listing agent to help present offers along with their ability and capacity to perform
- Keep you updated each week through your escrows and prospects that you have referred them. Attention = Care (they follow up every week and can help you do same)
Where in Agent Tools can you manipulate your lead time for 1st time and subsequent tours?
On the Agent calendar.
If a listing agent tells you that the seller may not issue multiple counteroffers, it's best to do THIS..
Submit your highest and best offer initially.
How do we handle a scenario where the listing brokerage does not use CAR Forms (REX, HomeBay, etc.)?
We need to do the following:
- Get an SP signed (Single party compensation agreement)
- Seller still needs to provide Statutory Disclosures, but it is typical for them not to be on CAR Forms
- Our Agent should send an email to the Buyer about this not being a usual contract or usual disclosures, and to consult an attorney prior to signing anything (save this email to your file)
When a buyer and seller are agreeing to sell personal property we should use one of these
Bill of Sale - we have a template for that!
Describe ways you can leverage AA's to take ownership of the customer experience
- Set up email / text templates introducing your AA to new customers
- Call AA ahead of appointment to help them introduce you and that you will be following up
- Use pop in’s to meet your customers and your AA’s (while allowing the AA to set up and manage the event)
- Set up your Redfin profile page with “Managing Touring Agents” after working closer with AA’s
How can you download an itemized spreadsheet to view a breakdown of your 'tier points'?
Knowing that roughly 30% of escrows are falling apart, it would be wise to submit THIS form to a listing agent to see if the seller is willing to sign
The BUO (Backup Offer Addendum).
This form makes it so that your buyer is formally the next person up if the current escrow falls through. Many sellers do not want to be tied formally to a specific buyer, but try and get the seller to agree to these! If you open escrow on another property notify the seller and withdrawal the backup offer. 30% of escrows fall out!
What are the steps for working with a Direct Offer/unrepresented Buyer? What forms/processes should you/seller be aware of?
1. Have the buyer sign a BNA (buyer non-agency agreement)
2. Make sure seller is aware of additional 1% fee on top of our 1.5% commission
3. MM notes/approval and you get 20% additional bonus
4. If buyer requests assistance with signatures, we are able to send through DocuSign to them, but with this disclaimer in the DocuSign message and all signature fields must be optional: “As a convenience, we are sending the documents to you as they are required contractually. Due to Redfin being a representative of the seller, we cannot give you guidance or advice on filling out these forms.”
When your customer is buying with a trust or a property you are selling is held in a trust, how does the buyer/seller sign the agreement and what additional docs/addenda are needed?
- The name of the seller/buyer is the name of the trust
- Seller/buyer sign as themselves
-RCSD is needed to identify the signer as the trustee
- TA and evidence/authority to sign on the behalf of the trust is required
How can you leverage your TC to create the best experience for your clients?
- Check in with your TC once a week for a debrief on all your escrows and customer needs (give and take) What needs to be done? What can you help with? What can they help you with?
- CC your TC on email communications in escrows to keep them plugged in
- Explain to your customer whom your TC is, what they do and why they will be reaching out (Set expectations)
- Let your TC know more about how you work, your load and how they may be able to help you, while seeing what they also need from you (get to know each other)
Where in Agent Tools can you refer a customer to RedfinNow?
On the customer profile page, under their selling profile, you can send a template by clicking the 'Send cash offer instructions' button
These clauses can be tricky, but may have merit in some circumstances, what am I and how would you go about leveraging me to help a buyer win?
Escalation clause.
Use Mark Bennett's extremely wordy, but ultra-protective verbiage on an addendum and then send a specific Mark Bennett approved follow-up email to the customer, explaining the pitfalls of fraud and its impact on your escalating factor to your client. Your client must confirm receipt of this email
As a listing agent, explain the process of how a Buyer's Agent's commission would be reduced, if that is even possible.
1. We can't suggest and may not make lowering the commission a condition of the offer and we can't suggest how they should go about it.
2. Buyer's agent must complete a CBC and cannot request a change in commission in the purchase agreement, adm or counter
3. Their broker must sign the CBC
If the key gets misplaced or I need a door code for the Direct Access lock, where can I find it?
In Deal Room, if Direct Access is installed you can click on the hyperlink which will allow you to 'Manage Hub and Lock' where you can view the default codes and even change them yourself!