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Appreciation for Buyer’s Agents.

As a brokerage, we don’t represent buyers as clients. We made that decision for two reasons. First, it enables us to avoid even the appearance of a conflict of interest. Second, it lets us focus on what we do best: property marketing. Property marketing is what sets us apart and creates value for our clients, the sellers. Therefore, we appreciate agents who represent buyers and work happily with them. We’ll support your effort to represent your client well, and to reach an outcome that benefits all parties.

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Marketing Resources.

Property marketing is where we excel. And you should find those resources very useful with your clients. We create a single property website for each property and include the URL in the non-public / private remarks. It includes the most comprehensive information about the property. It also holds the largest number of photographs we make available (usually more than we include in an MLS listing) as well as high-definition lifestyle video. We also prepare a 16-page brochure for each property. And we’ll happily provide copies to you so that you can share them with your clients. The brochures, lifestyle video, and property website help make the property memorable and can give your clients the most thorough understanding of the property possible. These resources should help you intrigue your clients in advance of showings, especially if they are coming from out of the area.

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Showings: Our process is unusual as well.

3.1. We never place a lockbox on a property. That ensures the privacy and security of the property for our clients. Therefore, access will be provided by one of us every time. We also accompany buyer’s agents and potential buyers throughout their visit to the property. While we work to be unobtrusive, we take our responsibility for our client’s property very seriously.

3.2. We lead the tour of the property, pointing out its features from a three to five-page set of bullet points. That ensures that we don’t overlook features or confuse them with other properties. We work hard to learn each property’s features thoroughly because we see that as our responsibility. We will provide copies of the property brochure to you and to your client when we rendezvous at the property. In all interaction with your client, we will defer to you. And any requested follow up information will be provided directly to you to relay to your client.

3.3. Please schedule each showing directly with us. We’d prefer that you not use 'Showing Time' or 'Broker Bay' to request showings. We will ask you to provide confirmation that your client is financially capable of completing the transaction before scheduling a showing. If you’re unable to do so, we will ask for the client’s name and city so we can pull a Wealth Engine profile for confirmation.

3.4. Please allow a minimum of an hour on site for each showing. We’re prepared to provide a thorough and comprehensive tour of the property. And that will include descriptions of its history, invisible features, and its highest and best use. Both our clients and our staff would prefer to avoid showing a property on the off chance that your client might have interest even though the property doesn’t meet their criteria and needs. Few things are more wasteful than preparation for a showing where there’s neither a good fit nor active interest. And the marketing resources we provide should help you and your client to decide whether seeing the property is worthwhile. Thanks for understanding.

3.5. We ask that you alert your client to the potential presence of video cameras and listening devices. We never ask our clients to disable any security device and prefer that buyers are aware. We encourage you to coach your clients to hold comments about the property and confidential discussions until they have left the property.

3.6. Please alert your clients that we do not permit additional photographs or video to be taken while visiting the property. Our client’s privacy and security needs make such filming unwise. For out-of-area buyers who request video walkthroughs from their agents before traveling to see a property in person, we are willing to relay those requests to our clients, and then to accompany you on the walkthrough. We’ve found the most effective method is to conduct the tour as though your client was present.

3.7. Please provide feedback we can relay to our clients within 24 hours of your showing. It’s best if what we’re relaying is not simply our impressions, but the feedback you’ve received from your client to relay to us. Please expect us to follow-up and request specific feedback.

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Offers: How we manage the offer process.

4.1. We understand that an offer to purchase simply begins the process of reaching agreement and closing a transaction. Therefore, we consistently advise our clients to be reasonable and fair-minded in negotiation. We discourage them from being arbitrary and capricious as they consider offers and instruct us to respond.

4.2. We encourage buyers’ agents to prepare their offers thoroughly, and to avoid blanks and non-standard language. When we receive offers that aren’t prepared thoroughly or completely, we’ll usually ask the buyer’s agent to resubmit it with changes. If the gaps are minor, we’ll complete them in a counteroffer.

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Buyer’s Agent Compensation.

5.1. To comply with the both the terms and the spirit of the NAR settlement agreement (Sitzer / Burnett) we avoid communication of any offer of buyer’s agent compensation from our clients (the sellers) via the MLS.

5.2. Because specific compensation for a buyer’s agent must now be negotiated between the buyer and the buyer’s agent, we do not recommend that our clients decide in advance whether they will provide any portion of the funds used for buyer’s agent compensation, or what compensation they might agree to provide. Therefore, we won’t be able to answer queries by providing specific compensation information since the agreement reached between the buyer and the buyer’s agent must determine the form and amount of compensation.

5.3. We do ask our clients to happily consider seller participation in compensation for a buyer’s agent. Such requests should be presented as a term within a valid offer to purchase (P&SA). The term is a request for a seller’s concession to the buyer and direction that funds be paid directly by the title company to the buyer’s agent’s brokerage. All such requests are considered in the context of the remaining terms and conditions of the offer and are treated as any other term or condition within such an offer.

Working with IDAHO LUXE :
Information for buyers agents.

®

The business model for our brokerage is unusual. And this will describe a handful of things that buyer’s agents may find useful to know when representing a buyer who has interest in a property being offered by IDAHO LUXE.

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