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PROMOTING REALTOR® VALUEGUIDEBOOK FOR MEMBERS

Looking for a profess ional?

Here’s how I can help...

What do I offer my clien ts?

Let me explain...

My experience andexpertise are valuable.

Here’s why...Sell my va lue?Not a

problem!



Meeting Consumer Expectations .................................................................................................. 1

The Value Points:

1 REALTORS® protect and promote the interests of their client, with agency ......... 2

2 REALTORS® are licensed ............................................................................................................ 4

3 REALTORS® are members of a professional association .................................................5

4 REALTORS® pledge to adhere to the REALTOR® Code of Ethics.................................. 6

5 REALTORS® put their duties and obligations in writing ................................................ 7

6 REALTORS® listen and explain ................................................................................................ 8

7 REALTORS® communicate ........................................................................................................ 9

8 REALTORS® meet mandatory education requirements ............................................. 10

9 REALTORS® use the MLS® to help clients buy and sell properties .......................... 11

10 REALTORS® explain the costs involved ...............................................................................12

How to use the Working with a REALTOR® brochure .............................................................. 3

Schedule “A” - Possible obligations and services ................................................................... 13

Summary of the 10 Value Points ................................................................................................ 14

The REALTOR® Value program has been created to help REALTORS® better understandtheir core value and learn how they can easily share their value with consumers.

The program focuses on ten value points, which can be used by every member

regardless of brokerage or business model, commercial or residential, new to the

business or well-seasoned.

This guidebook is one piece of a larger toolkit which includes video modules,

consumer handouts, reference cards for your wallet and a poster for oces.

This program provides:

The words to share that express REALTOR® value.

The tools to use with consumers to support what you’re saying. The reasons why you should share this with consumers.

The immediate benets to you.

The ten value points are only the beginning. REALTORS® can

take what they need, keep what works best and modify the

program to suit their unique style and services.

This guidebook has been designed for REALTOR® use only. It is not

intended to be provided directly to consumers in this format.

PROMOTING REALTOR® VALUE

GUIDEBOOK CONTENTS

© 2011 Fraser Valley Real Estate Board



Be sure to visit the REALTOR® Value page on

REALTOR Link®, where you’ll nd a number of

other resources, including:

This Guidebook, in PDF format for ease of

reading online or printing.

Video modules that will walk you through the

ten value points.

Consumer handouts in PDF format, which youcan print for your presentations or send to your

clients.

Business card-sized version of the ten value

points to keep in your wallet.

Links to other valuable documents, such as

Trust and Value: On REALTOR® Public Image,

Understanding Expectations and Opening

Doors: A Marketing Best Practices Guide

for REALTORS®.

Think of this as REALTOR ® 101...start here and then customize it

to sui t your s tyle.OTHER TOOLS

There’s really only one reason to talk about REALTOR® value. The most important reason.

Consumers want to know. They want to know what we do, how

we’re going to do it and our commitment to them. And we need

to do a better job explaining this.

We know from research that consumers place critical importance

on being able to have absolute trust in the honesty and integrity

of their REALTOR®. Unfortunately, they have concerns in this

regard.

We also know that half of all consumers in BC feel they do not

receive value for the commission paid to the REALTOR®. This islargely because they have a supercial view of the roles and

responsibilities REALTORS® assume on their behalf.

No advertising campaign can rectify this situation, at least not

initially. This work must be done one-on-one, with REALTORS®

communicating with their clients.

By clearly communicating what we do, consumers will have an

appreciation for the value of a REALTOR® and by operating

in an open and transparent manner, REALTORS® will win

the trust of consumers and their colleagues.

MEETING CONSUMER EXPECTATIONS

PA



REALTORS® are legally obligated to protect

and promote the interests of their clients, as they

would their own. REALTORS® have the following

duties:

1 Provide undivided loyalty to their client.

2 Obey all lawful instructions of their client.

3 Keep the condences of their client.4 Exercise reasonable care and skill in performing

all assigned duties.

5 Account for all money and property while acting

for their client.

VALUE POINT 1REALTORS® PROTECT THE INTERESTS OF THEIR CLIENTS

Consumers need to know: Your job is to protect and promote their

interests.

You have a legal duty to uphold, regardless of

whether you’re paid at the end of the day.

You will be establishing an agency relationship

with your client, based on their needs.

Consumers will: Understand your value and service. Respect that belonging to a professional

association means a commitment to

professionalism.

Trust your legal obligations.

Benets for you: Establishing your value starts right here: with

your duties and obligations.

Clarifying your duties under agency helps build

a strong, open relationship.

Consumers value protection through legal

duties and promotion through up-to-date

marketing tools.

Action: Tell your clients what you do, today and

from now on. Explain your duties as you

walk them through the Working with a

REALTOR® brochure.

Tool: Working with a REALTOR® brochure.

WHY DO THIS?TAKE ACTION

What doREALTORS®

do?

My job begins and ends withprotecting and promoting myclients’ interests, within an

agency relationship.

PA



How to use the Working with a

REALTOR® brochure:

1 PRESENT the Working with a REALTOR® brochure. Open

to the inside page describing the Agency Relationship.

2 SAY “It is important for you to know what my job is.”

3 CIRCLE the area that starts with ‘”Brokerages and their

licensees...’” as shown.

4 READ the section out loud.

5 BE AMAZED when you read this to a client. Their

interest level will change. They start to get it!

How to use th

REA OR® br

PRESE T t e Wor

to the inside pag

2 SAY “It is importa

CIRCLE the area t

licensees...’” as sh

READ t e section

BE AMAZED whe

interest level will

WOW! Now we know what’s in this for us..

and this has value!

PA



REALTORS® are licensed to practice real

estate under the authority of the Real Estate Council

of BC and abide by the laws, rules and regulations

set out by the BC government, under the Real

Estate Services Act and the Real Estate Development

Marketing Act .

The Fraser Valley Real Estate Board membershipcard includes a license number, as well as the license

expiry date, which provides proof that members are

legally able to provide real estate services in BC.

VALUE POINT 2REALTORS® ARE LICENSED

Consumers need to know: You are a licensed professional. Your license is

renewed every two years.

You must meet requirements for both licensing

and relicensing.

You abide by the laws of local municipalities,

BC and Canada.

You are insured. Errors and Omissions Insurance

provides liability insurance for REALTORS®.

Special Compensation Fund protects monies

placed in trust with a licensee.

Consumers will: Trust licensed professionals.

Appreciate proof of your good standing.

Respect your protections under law.

Benets for you: Consumers want to work with licensed professionals. Providing proof that your license is in good standing

sets clients at ease.

Consumers will understand the commitment

required for licensing and relicensing.

WHY DO THIS?Action: Show your clients your membership card

when you review the Working with a

REALTOR® brochure with them.

Tool: Your membership card. Working with a

REALTOR® brochure.

TAKE ACTION

Are REALTORS® licensed to practice

real estate?

My license shows that I am commit ted to abide by the laws of BC, which

protect consumers.

PA



REALTORS® are members of their local

professional association, the Fraser Valley Real Estate

Board. As well, they are members of the BC Real

Estate Association and the Canadian Real Estate

Association (CREA). Only members of CREA can call

themselves a REALTOR®.

Only REALTORS® have the exclusive right to accessthe Multiple Listing Service® (MLS®), a complex

information-sharing and cooperative marketing

network created by REALTORS® to help the public

buy and sell properties.

VALUE POINT 3REALTORS® ARE MEMBERS OF A PROFESSIONAL ASSOCIATION

Consumers need to know: You are a member of the Fraser Valley Real

Estate Board, in good standing.

You work together with other professionals

in order to make a positive dierence in the

industry and the community.

You pledge to adhere to the by-laws, rules,

standards and the REALTOR® Code of Ethics.

Consumers will: Appreciate your commitment to the

profession.

Appreciate having access to the MLS®,

through a member REALTOR®.

Respect your pledge to abide by the rules of

membership.

Benets for you: Consumers trust and respect professional

organizations like the Fraser Valley

Real Estate Board.

As a member, you have exclusive access to the

MLS®, a highly valued marketing tool.

Consumers value organizations and

individuals who are committed

to excellence.

Action: Show your clients your membership card

when you review with them the Working

with a REALTOR® brochure. Show your

clients the FVREB Fact Sheet and explain

how the Board supports its members,

their clients and the community.

Tools: Your membership card. FVREB Fact Sheet.


Are REALTORS® members of aprofessionalassociation?

As a member of aprofessional association,

I work together withother REALTORS® to better

help my clients and our communities.

PA



Through the REALTOR® Code of Ethics,

REALTORS® are committed to:

Professional competent service.

Absolute honesty and integrity in business dealings.

Cooperation with and fairness to all.

Personal accountability through compliance with

CREA’s Standards of Business Practice.

REALTORS® pledge to observe the Code in all of their

activities and conduct their business in accordance with

the Standards of Business Practice and the Golden Rule:

Do unto others as you would have them do unto you.

VALUE POINT 4REALTOR® CODE OF ETHICS

Consumers need to know: You have pledged to the REALTOR® Code of

Ethics, as have all REALTORS®.

You are committed to honesty, integrity and

fairness to all.

You will cooperate with others and are held

accountable for your actions.

Consumers will: Value your pledge to abide by a Code of

Ethics.

Understand your intent is to operate fairly

and honestly.

Appreciate that ALL REALTORS® pledge to a

high standard of professionalism.

Benets for you: Consumers trust professionals who abide by a

Code of Ethics.

Trust is extremely important to consumers, and

they will respect your commitment to honesty

and openness.

Speaking highly of other professional REALTORS®

enhances your credibility.

WHY DO THIS?Action: Show your clients the REALTOR® Code of

Ethics. Tell your clients that as a REALTOR®

and member of the Fraser Valley Real

Estate Board, you pledge to adhere to the

REALTOR® Code of Ethics. Show your clients

the back of your membership card, where it

states that you have made this pledge.

Tools: Your membership card. REALTOR® Code of

Ethics.

TAKE ACTION

Do REALTORS® adhere to a

Code of Ethics?

I pledge to abide by the REALTOR ® Code of Ethics .

PA



REALTORS® include their duties and

obligations in the Schedule “A” which is included

with the Multiple Listing Contract and the Exclusive

Buyers Agency Contract.

VALUE POINT 5REALTORS® PUT THEIR DUTIES AND OBLIGATIONS IN WRITING

Consumers need to know: You are prepared to detail exactly what you

will do for them.

Your obligations under the law are clearly

dened, based on the level of agency you’ve

agreed to.

You oer value to your clients, and are

prepared to explain that value to them.

Consumers will: Trust in a written agreement.

Understand how your services dier from

other REALTORS®.

Understand the value you provide for the

monies paid.

Benets for you: Your clients will clearly understand what you

will do for them.

By putting your obligations, duties and

services in writing, there will be fewer

misunderstandings.

This is your opportunity to dierentiate yourself

from the competition.

Action: Include your full duties and obligations in

the Schedule “A” in addition to the services

you may perform for your clients. Refer

to the list of possible items to include in

the Schedule “A” on the page 13 of this

guidebook.

Tools: Schedule “A”. Your own marketing plan.

Working with a REALTOR® brochure.


What commitment do I get that a REALTOR ® will do what

they say they wi ll?

I will explain what I’ll do for you and put

it in wri ting.

PA



REALTORS® listen to client concerns,

expectations and objectives, striving to understand

the nancial and personal dynamics involved.

REALTORS® explain the real estate process and what

clients will be paying for: the professional services of

a licensed REALTOR®, whose job it is to protect their

interests.

REALTORS® explain the wealth of experience and

resources they bring to their clients, personally,

through their oce and through their Board.

VALUE POINT 6REALTORS® LISTEN AND EXPLAIN

Consumers need to know: You understand real estate and can help

consumers through the process.

You are able to answer questions and can

explain what they need to watch out for.

You will listen carefully to what they say and

likely pick up on their unspoken concerns.

Consumers will: Welcome your expertise. Appreciate you taking the time to inform them

about what’s going on.

Value your commitment to meeting their needs.

Benets for you: You are a knowledgeable professional – this is

your chance to shine.

Being open and honest with your clients helps

prevent misunderstandings.

Sharing your expertise is an ideal way to

demonstrate your value to your clients.

Action: Ask your clients key questions regarding

their situation and expectations and listen!

Help them to fully understand the process

and how it will impact them personally. Tell

your clients exactly what you will do for

them and about the network of support,

experience and resources you bring. Refer

to the Schedule “A”. Reiterate your primary

role: to protect their interests.Tools: Your knowledge. Your own marketing plan.

FVREB Statistics package. Schedule “A”.


How wi ll REALTORS® help us through the process of buying or

selling property?

I will listen to your needs,explain how I do business anddetail what this process wil l

look like for you.

PA



REALTORS® commit to clear communications

with their clients, based on their clients’ needs and

determined at the onset of the working relationship.

REALTORS® commit to responsive communications

and will advise the client of the best ways to stay in

contact and when to expect return calls or emails.

VALUE POINT 7REALTORS® COMMUNICATE

Consumers need to know: You are prepared to keep them informed in a

timely manner.

You will commit to a communications plan

based on their requirements.

You are prepared to give them updates on

what’s going on.

Consumers will: Experience less anxiety about the process. Appreciate your knowledge and

commitment to them.

Value the service you are providing.

Benets for you: You remain in control of the scope of the

communication.

A clear agreement between you and your clients

helps you manage your time eectively.

Good news, bad news or no news, communication

helps you move the process along.

WHY DO THIS?Action: Lack of communication is the number

one complaint from clients. Listen to your

clients’ expectations regarding frequency

and type of communication. Agree upon a

communication plan that will suit your clients’

needs and include it in the Schedule “A”.

Tool: Your responsiveness. Schedule “A”.

TAKE ACTION

How doREALTORS® keep

me informedabou t what’s

going on?

I will stay in contact wi th you, based on

your needs.

PA



REALTORS® are required to meet mandatory

education requirements in order to obtain and

renew licensing and membership. Courses such as

presentation of oers, writing enforceable contracts

and negotiating, in addition to industry updates

on legislation, legal issues, agency and market

conditions are all included.

As well, REALTORS® attend specialized courses,

conferences and participate in self-directed learning

above and beyond the mandatory educational

requirements.

VALUE POINT 8REALTORS® MEET MANDATORY EDUCATION REQUIREMENTS

Consumers need to know: You are required to meet mandatory

requirements every two years.

Your training includes both legal and

skills-based learning.

You have the skills and knowledge required

to assist them with their real estate needs.

Consumers will: Trust in trained professionals. Appreciate proof of your attendance at key

courses and events.

Understand that your skills and knowledge

are a big part of your value.

Benets for you: Polishing your skills and staying informed helps

you become a more eective REALTOR®.

Your expertise is highly valuable to your clients.

Take pride in the work you’ve done to build

your knowledge and skills.

Action: Tell clients that all REALTORS® are expected

to meet ongoing mandatory education

requirements. Show clients certicates for

recent courses you’ve taken.

Tools: Your knowledge. Your completed course

certicates.


What doREALTORS® do

to s tay on top of changes in the

industry?

I keep up to date

on real e state industry issues andlegislation through

regular professiona ldevelopment.

PAG



Only REALTORS® have the exclusive right

to access the Multiple Listing Service® (MLS®), a

complex information-sharing and cooperative

marketing network created by REALTORS® several

decades ago to help the public buy and sell

properties.

Through the MLS®, REALTORS® working for sellerscan expose listed properties to thousands of

potential buyers. In turn, for REALTORS® working

with buyers, the MLS® provides a comprehensive

listing of properties that match their criteria along

with tools for researching and comparing properties.

VALUE POINT 9REALTORS® USE THE MLS® TO HELP CLIENTS BUY AND SELL PROPERTIE

Consumers need to know: You have access to the MLS®, which is far more

detailed than what they may see online.

You can use the MLS® to help them determine

appropriate pricing, given the local market

dynamics.

You can use the MLS® to help them locate a

suitable property, based on their specic criteria.

Consumers will: Value the extensive information provided by the

MLS®, available only through REALTORS®.

Appreciate the marketing power of the MLS®.

Respect the accuracy, reliability and quality of

the MLS® data.

Benets for you: Consumers will understand that it’s REALTORS®

who built the MLS® and keep it up-to-date.

The MLS® is a valuable tool that only REALTORS®

can access.

As a REALTOR®, you have the expertise to interpret

the data and make recommendations.

WHY DO THIS?Action: Explain how the MLS® is a member-owned

system, and how it diers from REALTOR.ca

and ICX.ca. Show the MLS® fact sheet. Talk

about your own marketing plan, and how it

builds on the power of the MLS® in order to

draw even more attention to your listings.

Tools: Your own marketing plan. MLS® fact sheet.

FVREB Statistics package.

TAKE ACTION

What is the MLS®?

The MLS® is a cooperati ve marketing tool created

by REALTORS® as a way toshare information about

properties for sale.

PAG



REALTORS® explain that clients are paying

for the professional services of a licensed REALTOR®,

whose job is to protect and promote their interests.

This may ultimately result in the sale or purchase of

a property.

REALTORS® operate using a variety of business

models. Their pricing and services structurepositions them in a unique way in the marketplace.

REALTORS® explain their business model, including

the timing and amount of any professional fees or

commissions.

VALUE POINT 10REALTORS® EXPLAIN THE COSTS INVOLVED

Consumers need to know: You have a clear understanding of the costs and

can inform them of the specics.

You are insured.

Your expertise, tools and commitment have

value in relation to the fees/commissions paid.

Consumers will: Understand their limitations and the terms of

your agreement with them. Appreciate that there will be “no surprises.”

Respect your value.Benets for you: No surprises for clients means no

surprises for you.

By openly discussing costs, you are also

able to demonstrate what they are NOT

paying for.

Discussing costs after clearly

demonstrating your value will reduce

the disconnect some clients feel

regarding commissions/fees.

WHY DO THIS?Action: Thoroughly explain your business model,

detailing exactly what fees or commissions

will be payable for the services provided and

explain what services will NOT be provided.

Review the services noted in the Schedule

“A” as well as your marketing plan.

Tools: Your own marketing plan. Schedule “A”.

TAKE ACTION

Let me explain all the costsinvolved in listing or buying

a property.

How much will this cos t me?

PAG



LIST OF POSSIBLE DUTIES AND SERVICES YOU

CAN CHOOSE TO ADD TO YOUR SCHEDULE “A” :

“As a licensed REALTOR® and Member of the Fraser Valley Real Estate Board, I am

legally obligated to protect and promote the interests of my principals as I would my

own, and to abide by the by-laws, Standards of Business Practice and Code of Ethics

as set by the Board.” Explain the Working with a REALTOR® brochure and agency obligations

Provide undivided loyalty to the client

Obey all lawful instructions of the client

Keep the condences of the client

Exercise reasonable care and skill in performing duties

Account for all money and property while acting for the client

Cooperate with other REALTORS®

Explain real estate terms and practices

Provide and explain all forms

Communicate on a regular basis

Provide regular market updates

Disclose in a timely manner all known facts aecting the transaction

Conduct market analysis and advise an appropriate listing price

Locate properties available to view and consider

Facilitate viewing properties and provide guidance

Advise regarding selection of the right property

Prepare and submit all necessary listing documentation

Advertise the listing on the MLS® and on REALTOR.ca or ICX.ca

Assist in qualifying buyers Arrange showings at times acceptable to the seller and, if any tenants, subject to

tenants’ rights

Discover facts pertaining to the property

Inform of closing procedures and policies

Identify and estimate costs for closing

Advise on competitive oers, including appropriate conditions and subjects

Prepare oers at client’s direction

Prepare a legally binding Contract of Purchase and Sale

Review Contracts of Purchase and Sale submitted for the seller’s consideration

Present all oers promptly and objectively

Negotiate favourable terms and conditions

Assist in arranging suitable nancing if necessary

Advise client to seek independent advice on matters outside the expertise of the

licensee, such as property inspections, legal or other required services

Assist in removal of conditions, completion and possession process

Disclose all fees earned through the transaction

PLUS: details of your marketing/selling plan

PAG



THE TEN VALUE POINTS AN OVERVIEW

Consumers

want to know…

Your answer…

Your tools…What do REALTORS® do? REALTORS® protect and

promote the interests of their

client, with agency

Working With a REALTOR® brochure

Are REALTORS® licensed to

practice real estate?

REALTORS® are licensed Your membership card


Are REALTORS® members of a

professional association?

REALTORS® are members of a

professional association Your membership card

FVREB Fact Sheet

Do REALTORS® adhere to a

Code of Ethics?

REALTORS® pledge to adhere to

the REALTOR® Code of Ethics

Your membership card

REALTOR® Code of Ethics

What commitment do I get that

a REALTOR® will do what they say

they will?

REALTORS® put their duties and

obligations in writing

Schedule “A”

Your own marketing plan


How will REALTORS® help me

through the process of buying or

selling property?

REALTORS® listen and explain Your knowledge

Your own marketing plan

FVREB Statistics package Schedule “A”

How do REALTORS® keep me

informed about what’s going on?

REALTORS® communicate Your responsiveness

Schedule “A”

What do REALTORS® do to

stay on top of changes in the

industry?

REALTORS® meet mandatory

education requirements

Your knowledge

Your completed course certicates

What is the MLS®? REALTORS® use the MLS®to help clients buy and sell

properties

Your own marketing plan MLS® fact sheet

FVREB Statistics package

How much will this cost me? REALTORS® explain the costs

involved Your own marketing plan

Schedule “A”

fvreb member guidebook-web pdf

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