Setting the table: Fact #1
Buyers get ghosted! They would reuse a buyer's agent but too often ignored after closing.
88% would use you again but only 11 do?
77% of buyers are being ghosted. The great 1 and done theory is no way to build a business.
Listing agents use a buyer's book to help create future business. But is this ethical? Yes, according to my interpretation of the Realtor Code of Ethics, it is.
Standard of Practice 16
REALTORS® shall not engage in any practice or take any action inconsistent with exclusive representation or exclusive brokerage relationship agreements that other REALTORS® have with clients.
.....not intended to prohibit aggressive or innovative business practices which are otherwise ethical
.... is intended to recognize as unethical two basic types of solicitations:
1) First, telephone or personal solicitations of property owners who have been identified by a real estate sign, multiple listing compilation
2) Second, mail or other forms of written solicitations of prospects whose properties are exclusively listed with another REALTOR® when such solicitations are not part of a general mailing but are directed specifically to property owners identified through compilations of current listings
...does not preclude REALTORS® from contacting the client of another broker for the purpose of offering to provide, or entering into a contract to provide, a different type of real estate service unrelated to the type of service currently being provided
...The fact that a prospect has retained a REALTOR® as an exclusive representative or exclusive broker in one or more past transactions does not preclude other REALTORS® from seeking such prospect’s future business.
So what is a buyer book?
As a service to the seller you will provide valuable information to the buyers regarding the home and the area. Make it so good there is no way it will ever go anywhere but somewhere very accessible in the kitchen. DO NOT heavily brand the content. Do not be selling yourself. This is not a commercial for you or your services. It is not a solicitation. Provide value that will help your seller by attracting buyers. Think of a three ring binder filled with page protectors of colorful and useful content.
Utilities
Warranties
Home specific information
Schools
HOA contacts
Local attractions
Popular events
Craft breweries and wineries
Restaurants
Shopping
Pizza delivery (leave a free coupon for a moving day pizza)
