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The Compensation Conversation Seminar – In Person Training
November 21 @ 9:30 am - 12:30 pm
Cost: *Members $39.00 & Non-Members $64.00, 3 Clock Hours.
This class will guide you through the recent NWMLS Form changes, the background of the legal environment that prompted the changes, and help you better understand the role of the Buyer Agency Agreement, NWMLS rules, and the Law of Real Estate Agency.
Learn strategies for including a Buyer Agency Agreement in your existing buyer consultation process. Discussion will focus on the benefits to the client, as well as the agent. Example scripts used by other agents will be demonstrated and practiced.
Explore possible situations that may arise during contract negotiations, including:
- Listings offering low or no SOC
- When can SOC be included in buyer financing
- How appraisals and escrow process may be impacted by SOC.
Gain a detailed understanding of the duties owed to buyers, regardless of SOC offered, and how to navigate negotiations both with and without a signed Buyer Agency Agreement.
Learn how to determine the statistical relationship between SOC and both sales price and days on market in their market area. Then discuss how to communicate with sellers about SOC in order to maximize seller net proceeds. Example scripts used by other agents will be demonstrated and practiced.
Discuss possible negotiation strategies when representing sellers, focusing on different scenarios for SOC in received offers.
Instructor: Michael “Smit” Smith
Michael Smith, a.k.a. “Smit” has been working in the residential real estate industry for over 25 years. Smit’s trifecta expertise combines his experience as a real estate broker, owner and mortgage lender and his degrees in law to bring a well-rounded approach to his teaching. Smit’s NAR designation courses have been taught throughout the PNW. His passion for real estate, finance and teaching has led him to create and launch several custom courses as well, addressing current trends such as Survival Skills in a Changing Market (Covid19), What you should Know about STR’s and Real Estate Finance for Realtors. Smit’s classroom is an energetic experience as he drives towards a high level of participation by students. You will enjoy his style of teaching, where “Smit Happens” quite often and with memorable results.