Motivating Buyers Ready, Set, Go!

*Prep for This Week’s Session* Bring and post the following at your sales meeting: Summer Open House schedule, Summer Home Buyer Seminar schedule, GSM Call Session schedule. Customize slide #23 to feature an associate success story who has had a transaction resulting from a HBS and slide #24 to display customer feedback from a Home Buyer Seminar. Goal is to increase associate buy-in and perceived value of the Home Buyer Seminars. Customize and print copies of Home Buyer Seminar tickets and flyers to handout to associates; available via Manager’s Best Practices Customize ticket by adding your office’s specific HBS information Print enough copies for associates to get 2-3 sheets each Make necessary preparations for a conducting a call session as part of this workshop. Print and use the handout “Winning Dialogue for Motivating Buyers.” Prepare GSM to recap last weeks call session results; email and print copies of the June 20th Home Buyer Seminar flyer; remind everyone about the next call session. *Delete this slide before presenting *

Today’s Session We’ll discuss how to: Assess buyer motivation and readiness Combine two effective buyer prospecting activities to get ‘ready now’ buyers into our office, working with you, and into a new home

Turning Lookers into Buyers If I told you I can help you motivate your Open House guests and other buyers you meet to buy now, would you be interested? If there was a place you could bring your buyers to educate them about the market and create a sense of urgency – a buying frenzy – would you bring them? I have just the place for you…and your buyers. We’ll talk about that in a moment.

Finding an Agent Question: What percentage of buyers found their real estate agent through the internet? Take a guess. Answer: 4% Source: NJAR 2013 Profile of New Jersey Home Buyers and Sellers – includes national data

Turning Lookers into Buyers That means that 96% of all buyers found their agent through ways not related to the internet. Why do you think that number is so high? We’re in a relationship-based business, and relationships started in person are those that are most valued and most trusted.

Let’s start by thinking about a significant purchase you’ve made…

How was the experience? Did you get help and guidance from a sales person? Have you ever initially said “I’m just looking?” If yes, did the associate give up and let you be - or did they continue to genuinely try to help you? Have you ever had an experience where one sales person gave up on you, but another stayed with you until you found what you were looking for?

Is that Buyer Really Ready to Buy? Have you ever worked with a buyer who you thought wasn’t ready to buy yet – then you found out they actually bought something with another agent? How did that make you feel?

Is that Buyer Really Ready to Buy? Let’s look at a way to assess a new buyer-client to understand if they’re ready to buy now. Then we’ll talk about a way to motivate them – so they become “ready” while they’re working with you.

“Ready-Now” Indicators What does a new buyer-client do or say that shows you they’re ready to buy now? Let’s share some ideas.

“Ready-Now” Indicators ‘Ready Now’ Buyer Checklist Actively going to Open Houses to look at properties Attend Home Buyer Seminar Working with an agent Have clear reason and motivation for buying Have a timeframe in mind Pre-approved Do you agree these are good indicators of a buyer’s motivation and readiness? Are buyers always be forthcoming about their motivation and readiness? How many and which check- marks are needed to indicate if the buyer is ready to buy now? Have you ever made quick or false assumptions about the seriousness of a potential buyers?

What questions do you ask your buyers to determine if they are motivated and ready to buy?

If you could only ask one question to assess a buyer’s motivation and readiness, which would it be? Why?

Answer: Time-bound questions will best help you determine a buyer’s motivation and readiness – any of these three will work:

Do you recall these hot consumer items that created such a competitive buying frenzy? iPhone Tickle Me Elmo

Let’s try a new approach for securing more ‘ready now’ buyers to create our own buying frenzy…

What is ‘hands down’ our single best source for finding buyers What is ‘hands down’ our single best source for finding buyers? (Hint: We do them every weekend – and even during the week.)

Together, we can create our own buying frenzy.

What Benefits do Buyers Gain? By attending a Home Buyer Seminar, buyers will: Hear about what is really happening in the local market rather than at a national level See their competition – they’ll get motivated when they see the buyers they’re competing with Get pre-approved so they feel ready Be influenced by me and our GSM to act now – and you get to benefit from their motivation

Home Buyer Seminar Success Story Has attended __ Home Buyer Seminars. Brought total __ guests. __ of transactions from Home Buyer Seminars Feels Homes Buyer Seminars are valuable because…. [Insert Photo] [Associate’s Name]

Recent Home Buyers Seminar Feedback [Add customer feedback from recent Home Buyers Seminars - examples might include:] Market Update segment was very informative and helpful and realized now is the time to buy I have such a better understanding of short sales and foreclosures and now ready to put my home on the market get out of my current mortgage nightmare

Securing More ‘Ready Now’ Buyers Work Open Houses and invite guests to Home Buyer Seminar Everyone bring a minimum of two buyers to the Home Buyer Seminar Buyers meet Manager, Associate and GSM at Home Buyer Seminar and get motivated and ready to buy

Formula for Success Get 6 people to say ‘yes’ to ensure 2 will come. Every Associate brings 2 guests to the Home Buyer Seminars.

Sales Technique: Give out tickets to the Home Buyer Seminar Bring a stack of tickets with you to your Open Houses Try this dialogue: “We have limited availability at our next Home Buyers Seminar that will offer insight and tips about the current real estate market. The only way to get in is with a ticket. Demand has been high; if I have any tickets left, would you like to come?” “Topic” Day, Date , Time Weichert Anytown Office 123 Main Street, Anytown, US RSVP to Sally Woods, Manager 987-654-3211

Turn an Objection into an Invitation Let’s review some possible responses from guests at the Open House. How would you turn their objection into an invitation to the next Home Buyer Seminar? The houses in this community seemed over-priced… I don’t want to rush to make a decision – there are lot of homes to choose from and I want the best deal… We just started looking…

Turn an Objection into an Invitation! The houses in this community seemed over-priced… I don’t want to rush to make a decision – there are lot of homes to choose from and I want the best deal… We just started looking… Whatever the objection is, use this dialogue: “We have limited availability at our next Home Buyers Seminar that will offer insight and tips about the current real estate market, including your concern about [insert their concern]. The only way to get in is with a ticket. Demand has been high; if I have any tickets left, would you like to come?”

Will It Work? Are we likely to increase attendance at our Home Buyer Seminars? Will potential buyers feel as though you are taking a genuine interest in them? When buyers come into the office do we have a better chance of getting them pre-approved before looking at properties? Will ‘on the fence’ buyers get educated and motivated at the Home Buyer Seminar? Do you think this approach will increase buyer loyalty and motivation to buy? YES!

Let’s get started right now. We’ll spend the next 30 minutes making calls to invite buyers to our next Home Buyers Seminar. Use the “Winning Dialogue for Motivating Buyers’’ handout for dialogue. You can use your own contacts/lists or see me for a call list.

Winning Dialogue for Motivating Buyers HBS Invitation by phone: “This is a courtesy call to let you know about our free Home Buyers Seminar on [date, time, location] that will provide insight and tips about today’s unique real estate market including [provide some topic information, i.e purchasing short sales, etc.] The only way to get in is with a ticket. Would you like me to reserve a couple of tickets for you?” First-Time Buyers: “There has never been a better time to buy a home and time is running out. We are offering a Home Buyers Seminar that will provide insight and tips about the current real estate market, including the low mortgage rates available. The only way to get in is with a ticket. Would you like me to reserve a couple of tickets for you?”