Leo Pareja, CEO of eXp, just contacted BAM to share the news: its agent toolkit for sellers is officially live.
If you watched the BAM breaking livestream, in which Pareja set the record straight on his company’s position on commission sharing, you know by now that this is very good news for agents and their seller clients.
With less than three weeks before NAR’s settlement agreement practice changes go into effect, many are still waiting for finalized forms and guidance from their brokerage and/or association. Just like the numerous agents of change in the industry, eXp is concerned with what’s to come, not what happened in the past.
Like Pareja told BAM:
We didn’t create the rules, but we are creating a path forward.
An Example Worth Emulating
eXp’s previously released Buyer Representation Toolkit has received considerable industry attention over the past couple of weeks—including when the Consumer Federation of America held up its two-page Buyer Broker Representation Agreement as an example worth emulating.
BAM co-founder Byron Lazine, among others, has encouraged agents to take advantage of the resources from eXp.
As CEO of eXp, Pareja likewise encouraged agents, including those of other brokerages, to make use of the toolkit. It’s for that very reason the company decided against copyrighting the materials.
What’s in the eXp Seller Toolkit
Like the brokerage’s buyer representation toolkit, the version for sellers is chock-full of resources and downloadables for agents in an easy-to-follow landing page.
Resources include a video and presentation slides explaining the Latest eXp Update (from August 1st), tools to help agents teach sellers about buyer concessions and FAQs.
Next, eXp shares several forms for agents (of any brokerage) to use. In addition to its four-page “Exclusive Authorization and Right to Sell,” which Pareja first shared with the industry on a live BAM YouTube with Byron Lazine, essential forms include:
- Direct Compensation Form (eXp’s Featured Form)
- Disclosure & Acknowledgement of Non-Represent
- Amendment to Real Estate Listing Agreement
- Buyer Broker Representation Agreement
Along with forms and practices for using them, eXp shares scripts so agents have clear talking points when meeting with sellers. Scripts to help agents answer the following questions include:
- How Do Concessions Affect My Bottom Line?
- Do Concessions Affect Sale Price?
- What If a Buyer Requests Concessions for THeir Agent’s Commission?
- How Do Concessions Impact Negotiations?
- What Types of Concessions Are Common?
Additional resources include a Seller Net Sheet and Multiple Offers Review Sheet.
To download and learn more about the resources, head to https://exptoolkit.com/sellers.
