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Buyer Consultation Real Living Lifestyles. Important Factors for Buyers Source NAR 2009.

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Presentation on theme: "Buyer Consultation Real Living Lifestyles. Important Factors for Buyers Source NAR 2009."— Presentation transcript:

1 Buyer Consultation Real Living Lifestyles

2 Important Factors for Buyers Source NAR 2009

3 What Do Buyers Want? Source NAR 2009

4 How do Buyers Find an Agent? Source NAR 2009

5 How Much Competition Do You Really Have? Source NAR 2009

6 The Lead Conversion Process Lead Capture Build Connection Close to Appointment

7 Do You Want to Know …… The Biggest Mistake Real Estate Agents Make When Working With Buyers? The Biggest Mistake Real Estate Agents Make When Working With Buyers? Spending Time Working with Non-Qualified Buyers Spending Time Working with Non-Qualified Buyers

8 Top 10 Reasons to Work with Buyers 1. Buyers are a quick way to a close of escrow 1. Buyers are a quick way to a close of escrow 2. Working with Buyers is Fun! 2. Working with Buyers is Fun! 3. It is relatively inexpensive to work with buyers 3. It is relatively inexpensive to work with buyers 4. Buyers can keep you going in a down market 4. Buyers can keep you going in a down market 5. Buyers have something to sell at some point for 5. Buyers have something to sell at some point for future business future business 1

9 Top 10 Reasons (cont) 6. They are a great source of referral 6. They are a great source of referral 7. Buyers love that they can use our service 7. Buyers love that they can use our service for free for free 8. You get to build relationships 8. You get to build relationships 9. The service time is usually pretty quick 9. The service time is usually pretty quick 10. You get to help people build wealth 10. You get to help people build wealth

10 Duties of Buyers Agent per CAR Form BRE · Locate and present selected properties · Present offers · Assist in negotiating · Assist in buyer financing process · Provide list of professional vendors · Order reports · Schedule and attend inspections and meetings · Provide guidance to help buyer with acquisition of property · Review Forms and Disclosures · Create a Property Contract · Conduct a reasonably competent and diligent on-site visual inspection of the accessible areas of the property · Disclose all facts materially affecting the value or desirability of such property · Deliver disclosures · Facilitate the escrow process 2

11 3

12 Flow of a Buyer 4

13 What NAR Says….. What Information Sources do Buyers Use To Find Their Home 85% People use a Real Estate Agent 85% People use a Real Estate Agent 80% Use the Internet 80% Use the Internet 63% Drive by and see the Yard Signs 63% Drive by and see the Yard Signs 55% Use the Newspaper 55% Use the Newspaper 47% Open Houses 47% Open Houses 34% Home Book Magazine 34% Home Book Magazine 26% New Homes Projects 26% New Homes Projects 11% Television 11% Television 5% Relocation Company 5% Relocation Company 5

14 Where do Buyer Find their Home 6

15 Goal with Buyers Build Rapport Build Rapport Identify the Problem They Have Identify the Problem They Have Present a Solution Present a Solution Have a Follow up Plan Have a Follow up Plan 7 Important Rules 7 Important Rules Areas to Build Rapport In Areas to Build Rapport In 7

16 Buyer Pre-Qualification 9

17 Buyers Initial Contact UseFORD Method to build Rapport FORDFamilyOccupationRecreation Dreams – Future Vision 10

18 Mirror & Match What they say when they answer What they say when they answer Rate of Speech Rate of Speech Volume of their voice Volume of their voice Tone of their voice Tone of their voice Body Language Body Language Use the same words they use Use the same words they use

19 VAK Personality Styles Visual Visual Auditory Auditory Kinesthetic Kinesthetic 11-13

20 Establish Standards for Buyers You Will Work With Will come in to the office for a consultation Will come in to the office for a consultation Will get pre-approved for their loan Will get pre-approved for their loan Will sign a buyer broker agreement Will sign a buyer broker agreement Will purchase a home within the next days Will purchase a home within the next days Have a realistic view of what they can purchase Have a realistic view of what they can purchase All Buyers need to attend the first meeting All Buyers need to attend the first meeting What else is on your list? What else is on your list? 14

21 Gather Information In a Systematic Way Buyers Intake 15

22 Likes & Must Haves Complete The Likes and Must Haves 20

23 Ask Great Questions pg 21

24 Types of Closes Trial closes Trial closes –An opportunity to see if they are in agreement Assumptive closes Assumptive closes –Assume they will take the next step Conditional Close Conditional Close –Link the close to solving the clients problem Tie Downs Tie Downs –Asking for confirmation 22

25 Trial Closes Would that be acceptable for you? Would that be acceptable for you? Can you see yourself living here? Can you see yourself living here? Would you be willing to change the paint to a color you would like Would you be willing to change the paint to a color you would like If I could get that included would that finalize the choice for you If I could get that included would that finalize the choice for you

26 Assumptive Close When we get back to the office to write the offer I can check the comps When we get back to the office to write the offer I can check the comps When you choose me to represent you as your buyer specialist…. When you choose me to represent you as your buyer specialist…. After we get the offer accepted….. After we get the offer accepted….. Closing escrow within 45 days can have you in your new home for 4 th of July Closing escrow within 45 days can have you in your new home for 4 th of July

27 Conditional Close If we could get the seller to remove the Spa could that work for you? If we could get the seller to remove the Spa could that work for you? What if the seller gave you a credit to cover the cost of paint and you could repaint your colors? What if the seller gave you a credit to cover the cost of paint and you could repaint your colors? If we get the seller to cover a termite insurance policy for the next 12 months would that work for you? If we get the seller to cover a termite insurance policy for the next 12 months would that work for you?

28 Tie-Down Close It would be best for us to meet at my office dont you agree? It would be best for us to meet at my office dont you agree? Getting this home at that price would be fantastic wouldnt it? Getting this home at that price would be fantastic wouldnt it? This meets all your needs doesnt it? This meets all your needs doesnt it? I think this is the nicest property we have seen in this price range dont you? I think this is the nicest property we have seen in this price range dont you?

29 Closes For Buyers Page 23

30 Sign the Contract Soft Sell Agreement Soft Sell Agreement Suggested CAR Form BRE (exclusive) Suggested CAR Form BRE (exclusive) –This form is the only one that guarantees you will be paid at the successful close of escrow

31 Do You Want to Be a Buyers Specialist Be Able to Sell the Benefits Be Able to Sell the Benefits Know the Inventory Know the Inventory Know the Contract Know the Contract Know how to Negotiate Know how to Negotiate Understand Market Conditions Understand Market Conditions

32 Iceberg Story

33 Interview Practice tonight we will Role Play the interview tomorrow


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