Article Presented by:
Copyright © 2008 Mark Silver
Going to networking events is kinda one of those things you are 'supposed' to do for your business. Some people love'em, some people hate'em. But, the truth is, especially for a new business, making face-to-face and heart-to-heart contact with people is incredibly powerful.
Unfortunately, networking events can seem like pretty gross, low-energy, artificial affairs, with people glad-handing left and right, and business cards so thick in the air you can't even see where the complimentary bottled water is.
Let's take another look at networking, and see if we can find the heart in it, so that your business can actually benefit without you feeling yucked out.
The truth about networking.
What is a 'network'? According to the Oxford American Dictionary, a network is "a group or system of interconnected people or things."
If you're thinking of a networking meeting as a smash-n-grab raid, where people are just out to get immediate business, with all the friendliness of a shark tank... well, that's not really what a network is.
Spiritually, everything is connected. We are all One. As we see in the ecosystems around us, everything depends on everything else to really thrive. No one is an island.
Networking, from the heart, is really about discovering who else is a part of your business' ecosystem. Who are the close friends and colleagues, and who are the more distant acquaintances, each of which is still saying "attagirl/boy" rooting you and your business on.
Going to networking meetings isn't about getting a new client right then and there (although that does happen.) It's about creating a long-term support network for your business.
Hmmm... kinda strange... can that really be true?
Oh, yes it can. But only if.
Bring your authentic intention.
Instead of thinking you need to have just one single intention for every networking event you go to: "Must make valuable contacts," what if you could just be authentic? And I don't mean floppy authentic, meaning you show up and cry on everyone's shoulder (although I wouldn't rule that out.)
What if you could identify your true heart needs/emotional state, and show up with an intention that fit where you were?
You want a 'fer instance?' Okay, here's a fer instance.
Fer instance:
Wow, I'm feeling a little tender today, and I'm needing to not feel so alone. I'll go to that meeting with the intention of finding 2-3 people and asking their advice and feedback.
Another? Sure. Fer instance:
I notice I'm feeling a little low energy and shy, and I'm needing some depth. I'll go to the meeting with the intention of finding just one person to have a real conversation with about something important, business or not.
It could even be like this. Fer instance:
I'm feeling kinda energetic and adventurous, and the networking meeting seems not exactly my cup of tea. But, I'll go with the intention of finding 2-3 people who might be 'adventure buddies' to go with me to check out the wildflowers by the river at the park.
But that's not business networking.
Oh, yes, it is. You can find people that you have an authentic connection with, without betraying your emotional state to try to be in 'networking mode.' You can be your real self, and build trust with them.
And I bet you quite naturally end up telling each other about your businesses. And with that trust established at a deeper, more authentic level, there's a much better chance that they'll refer potential clients to you.
Is there more to it than that? Well, sure, there's always more. Let me share a couple of tips with you.
Keys to Heart-Centered Networking.
* Don't go for clients, go for referrals.
If someone you meet at a networking event is a potential client, they'll self-identify, or it will become obvious during a conversation.
So, take the pressure off you and them, and instead look for people to whom you would refer clients, and who would refer clients to you, too.
* Find your genuine curiosity in humanity.
The other person is a human being. Ask them questions about themselves. Ask questions about their business, about their family, about anything that's genuinely interesting to you.
And listen. Asking and listening seem like no-brainers, but when you get into 'networking mode' when you're only focused on 'getting business' it can be easy to forget to connect and learn about the person in front of you.
* Backend. Backend. Backend.
Networking is about building a long-term connection with people, not about immediate gratification. So, do yourselves a favor and get a good contact manager that will help keep track of the people you meet, and remind you to send thank you cards and 'nice to meet ya' emails.
I'm horrible at sending cards and emails- but if the contact manager 'bing' pops up in my face with a task to send an email or a card, I'll do it. Make it easy.
I have a favorite contact manager myself, and it's web-based. It's by a company called 37 Signals, and it's called Highrise: http://www.highrisehq.com
I happen to like it because it's web-based. Which means that our assistant can access it, and support me with tasks really easily. And I can access it even from a hotel while at a conference, or other event.
Networking can be fun, and it can fit who you are. You don't have to leave yourself at the door to have networking benefit your business, and your heart.
Oh, and one more resource: Biznik
You know, I've been thirsting for a real way for online and in-person networking to really work together. It rarely does. And yet, it can, and does, on Biznik.
Biznik is specifically for indie business owners, with this tagline: "Business networking that doesn't suck." How great is that?
I've been really impressed with the quality of the people there, and I've met the co-founders, Dan and Lara, and they are very cool, all about supporting people to get what they need.
I wrote a blog post about it, come and read it.
Or check Biznik out directly. (This is not an affiliate link. It does keep track of how many people I've sent their way, but I get no financial compensation whatsoever.
The best to you and your business,
Mark Silver
About the Author:
Mark Silver is the author of Unveiling the Heart of Your Business: How Money, Marketing and Sales can Deepen Your Heart, Heal the World, and Still Add to Your Bottom Line. He has helped hundreds of small business owners around the globe succeed in business without losing their hearts. Get three free chapters of the book online: http://www.heartofbusiness.com
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I will seek to answer those questions here, as well as to provide a Day Planner to enable the new online entrepreneur to navigate the maze of building a successful online business. When I find great advice by other writers, I will include that information as well. --- Clinton Douglas IV, Founder of Vasrue.com |
Friday, April 4, 2008
Thursday, April 3, 2008
Will the REAL Exclusive Buyer's Agent Please Stand Up?
Article Presented by:
Copyright © 2008 Julie P. Tuggle
What exactly is an "Exclusive Buyer's Agent"?
A: An agent who represents only buyers, never sellers, with no risk to their buyers of dual or designated agency on any home they want to buy.
B: An agent who represents their buyers as a designated agent if they want to buy a home that is an in-house listing.
C: An agent who gets paid regardless of whether the agent finds their buyers the home they want to buy or not.
The correct answer is "It depends on who you ask". Let's discuss each of the scenarios above:
A: An exclusive buyer's agent is an agent who represents only buyers, never sellers, with no risk to their buyers of dual or designated agency on any home they want to buy.
This is the definition you would find in "Don't Risk It! A Broker's Guide to Risk Management", published by the National Association of Realtors in 2000: "Exclusive Buyer Representation - Also called exclusive buyer agency, this the practice of representing only buyers, never sellers. The company never lists a seller's property and thus never has a seller as a client."
The definition above is also the definition used by the news media in articles written for the benefit of home buyers who are looking for consumer advice in preparation for the purchase of real estate. Internationally acclaimed finance specialist Suze Orman endorses the National Association of Exclusive Buyer's Agents in the "Finding a Buyer's Agent" section of her popular web site, www.suzeorman.com. Consumer advice columnists Ilyce Glink and Robert Bruss recommend exclusive buyer agency as an alternative to buyer agency to consumers who want to avoid the risk of dual agency - when one broker represents both parties. Ilyce Glink advises: "If you're trying to eliminate potential conflicts in your deal, you may want to try (exclusive buyer agency). Exclusive buyer's agents never represent sellers. They only represent buyers, and they typically will take buyers wherever they want to go in a metro area.". Robert Bruss differentiates between the different types of buyer agency services in his article Do Home Buyers Need Their Own Agent?: "Any real estate agent can be a buyer's agent to help locate your home purchase. In addition, there are a few exclusive buyers' agents who represent only home buyers, never accepting listings from home sellers."
And June Fletcher from the Wall St. Journal.com writes: "Exclusive buyers agents can focus on their customers and their needs in a way many sellers agents can't. They don't have to spend their time holding open houses, staging properties, or doing all the other marketing tasks that consume much of a listing agent's time. They can concentrate on previewing homes, investigating comparable houses, helping the buyer understand financing options, negotiating the deal and making sure all the inspections and escrow items are done in a timely manner.
What's more, home shoppers who use exclusive buyers agents don't run the risk of falling in love with one of their agent's own listings. When that happens, the agent becomes a dual agent -- beholden to both the seller and the buyer, and thus, beholden to no one. Because this limits the amount of advocacy and advice the professional can give either party (for instance, a dual agent can't tell the seller the highest price that a buyer is willing to pay), it's illegal in some states.": www.realestatejournal.com
B: An exclusive buyer's agent is an agent who represents their buyers as a designated agent if they want to buy a home that is an in-house listing.
The news media is doing a great job of advising consumers to ask for an exclusive buyer's agent in order to avoid the the conflict of interests that exists with dual and designated agency (which legally is "dual agency" in NC, since the same broker represents both parties.) But the problem is now that consumers have started asking for an exclusive buyer's agent, listing agents are representing themselves to consumers as "exclusive buyer's agents," and are advising consumers they can provide exclusive buyer agency representation - even on in-house listings! The reason for this is that the NC Real Estate Commission does not recognize the definition for exclusive buyer's agent published by NAR in 2000, and since then, picked up and popularized by the mainstream news media. As a result, many real estate agents who practice designated agency on in-house listings regularly advertise themselves to consumers as "exclusive buyer's agents."
C: An exclusive buyer's agent is an agent who gets paid regardless of whether the agent finds their buyers the home they want to buy or not.
The NC Real Estate Commission allows NC real estate agents to call themselves an exclusive buyer's agent if their buyer client signs an "Exclusive Buyer Agency Agreement." The NC Exclusive Buyer Agency Agreement is a contract which states that the buyer's agent gets paid no matter who finds the home, and restricts the buyer to the buyer agency services of the agent/firm with whom the buyer has the buyer agency agreement. The NC Real Estate Commission acknowledges this usage of the term is pervasive throughout the industry in NC, but does not consider it a deceptive practice because no legal definition for this term exists in NC. The following terms: "Buyer's Agent, Seller's Agent, Dual Agent, and Designated Agent" are all defined in the state mandated Consumer Disclosure Brochure called "Working With Real Estate Agents," but the definition for "Exclusive Buyer's/Seller's Agent" is a glaring omission from the agency options that are disclosed to consumers in this brochure.
In many states including NC, "Buyer Beware" remains the adage for consumers who want an exclusive buyer's agent to represent them in their next real estate purchase transaction. A refreshing exception is Ohio, where their state legal disclosure, "Consumer Guide to Agency Relationships," was developed jointly by the Ohio Association of Realtors and the Ohio Division of Real Estate and Professional Licensing. Under Ohio license law, each brokerage must disclose which of five agency policy options their company practices and offers to consumers, including an option for exclusive buyer agency: "Under this policy, your brokerage only represents buyers, and does not take listings, practice subagency or dual agency."
Real Estate industry expert and columnist Peter Miller sums up the argument best for including exclusive buyer agency as an additional agency option in the NC Consumer Disclosure Brochure: "Brokerages should always include listing brokers and buyer brokers, exclusive or not, so that individual professionals can pick the practice strategy they prefer while consumers can find the widest array of services. Exclusive buyer brokers changed the marketplace by popularizing the core concept of buyer brokerage. That's a transition which now helps millions of purchasers get a better deal in the marketplace - and that is a significant accomplishment."
Since no legal regulation for exclusive buyer agency exists in NC, before proceeding with a self-proclaimed "Exclusive Buyer's Agent," consumers are advised to question their real estate agent's interpretation of this loaded real estate term.
About the Author:
Julie P. Tuggle is broker-owner of Carolina Buyer's Agent, an exclusive buyer agency in Charlotte, North Carolina that represents only buyers, never sellers, on the purchase of Charlotte homes with no risk to their buyer-clients of dual or designated agency representation on any home they want to buy. Julie can be reached at: juliet@charlotte-eba.com
Copyright © 2008 Julie P. Tuggle
What exactly is an "Exclusive Buyer's Agent"?
A: An agent who represents only buyers, never sellers, with no risk to their buyers of dual or designated agency on any home they want to buy.
B: An agent who represents their buyers as a designated agent if they want to buy a home that is an in-house listing.
C: An agent who gets paid regardless of whether the agent finds their buyers the home they want to buy or not.
The correct answer is "It depends on who you ask". Let's discuss each of the scenarios above:
A: An exclusive buyer's agent is an agent who represents only buyers, never sellers, with no risk to their buyers of dual or designated agency on any home they want to buy.
This is the definition you would find in "Don't Risk It! A Broker's Guide to Risk Management", published by the National Association of Realtors in 2000: "Exclusive Buyer Representation - Also called exclusive buyer agency, this the practice of representing only buyers, never sellers. The company never lists a seller's property and thus never has a seller as a client."
The definition above is also the definition used by the news media in articles written for the benefit of home buyers who are looking for consumer advice in preparation for the purchase of real estate. Internationally acclaimed finance specialist Suze Orman endorses the National Association of Exclusive Buyer's Agents in the "Finding a Buyer's Agent" section of her popular web site, www.suzeorman.com. Consumer advice columnists Ilyce Glink and Robert Bruss recommend exclusive buyer agency as an alternative to buyer agency to consumers who want to avoid the risk of dual agency - when one broker represents both parties. Ilyce Glink advises: "If you're trying to eliminate potential conflicts in your deal, you may want to try (exclusive buyer agency). Exclusive buyer's agents never represent sellers. They only represent buyers, and they typically will take buyers wherever they want to go in a metro area.". Robert Bruss differentiates between the different types of buyer agency services in his article Do Home Buyers Need Their Own Agent?: "Any real estate agent can be a buyer's agent to help locate your home purchase. In addition, there are a few exclusive buyers' agents who represent only home buyers, never accepting listings from home sellers."
And June Fletcher from the Wall St. Journal.com writes: "Exclusive buyers agents can focus on their customers and their needs in a way many sellers agents can't. They don't have to spend their time holding open houses, staging properties, or doing all the other marketing tasks that consume much of a listing agent's time. They can concentrate on previewing homes, investigating comparable houses, helping the buyer understand financing options, negotiating the deal and making sure all the inspections and escrow items are done in a timely manner.
What's more, home shoppers who use exclusive buyers agents don't run the risk of falling in love with one of their agent's own listings. When that happens, the agent becomes a dual agent -- beholden to both the seller and the buyer, and thus, beholden to no one. Because this limits the amount of advocacy and advice the professional can give either party (for instance, a dual agent can't tell the seller the highest price that a buyer is willing to pay), it's illegal in some states.": www.realestatejournal.com
B: An exclusive buyer's agent is an agent who represents their buyers as a designated agent if they want to buy a home that is an in-house listing.
The news media is doing a great job of advising consumers to ask for an exclusive buyer's agent in order to avoid the the conflict of interests that exists with dual and designated agency (which legally is "dual agency" in NC, since the same broker represents both parties.) But the problem is now that consumers have started asking for an exclusive buyer's agent, listing agents are representing themselves to consumers as "exclusive buyer's agents," and are advising consumers they can provide exclusive buyer agency representation - even on in-house listings! The reason for this is that the NC Real Estate Commission does not recognize the definition for exclusive buyer's agent published by NAR in 2000, and since then, picked up and popularized by the mainstream news media. As a result, many real estate agents who practice designated agency on in-house listings regularly advertise themselves to consumers as "exclusive buyer's agents."
C: An exclusive buyer's agent is an agent who gets paid regardless of whether the agent finds their buyers the home they want to buy or not.
The NC Real Estate Commission allows NC real estate agents to call themselves an exclusive buyer's agent if their buyer client signs an "Exclusive Buyer Agency Agreement." The NC Exclusive Buyer Agency Agreement is a contract which states that the buyer's agent gets paid no matter who finds the home, and restricts the buyer to the buyer agency services of the agent/firm with whom the buyer has the buyer agency agreement. The NC Real Estate Commission acknowledges this usage of the term is pervasive throughout the industry in NC, but does not consider it a deceptive practice because no legal definition for this term exists in NC. The following terms: "Buyer's Agent, Seller's Agent, Dual Agent, and Designated Agent" are all defined in the state mandated Consumer Disclosure Brochure called "Working With Real Estate Agents," but the definition for "Exclusive Buyer's/Seller's Agent" is a glaring omission from the agency options that are disclosed to consumers in this brochure.
In many states including NC, "Buyer Beware" remains the adage for consumers who want an exclusive buyer's agent to represent them in their next real estate purchase transaction. A refreshing exception is Ohio, where their state legal disclosure, "Consumer Guide to Agency Relationships," was developed jointly by the Ohio Association of Realtors and the Ohio Division of Real Estate and Professional Licensing. Under Ohio license law, each brokerage must disclose which of five agency policy options their company practices and offers to consumers, including an option for exclusive buyer agency: "Under this policy, your brokerage only represents buyers, and does not take listings, practice subagency or dual agency."
Real Estate industry expert and columnist Peter Miller sums up the argument best for including exclusive buyer agency as an additional agency option in the NC Consumer Disclosure Brochure: "Brokerages should always include listing brokers and buyer brokers, exclusive or not, so that individual professionals can pick the practice strategy they prefer while consumers can find the widest array of services. Exclusive buyer brokers changed the marketplace by popularizing the core concept of buyer brokerage. That's a transition which now helps millions of purchasers get a better deal in the marketplace - and that is a significant accomplishment."
Since no legal regulation for exclusive buyer agency exists in NC, before proceeding with a self-proclaimed "Exclusive Buyer's Agent," consumers are advised to question their real estate agent's interpretation of this loaded real estate term.
About the Author:
Julie P. Tuggle is broker-owner of Carolina Buyer's Agent, an exclusive buyer agency in Charlotte, North Carolina that represents only buyers, never sellers, on the purchase of Charlotte homes with no risk to their buyer-clients of dual or designated agency representation on any home they want to buy. Julie can be reached at: juliet@charlotte-eba.com
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