Buyer Specialist PowerPoint Presentation

MREA: Converting & Servicing Buyers A Course for the Millionaire Real Estate Agent

Friday Morning Coffee Presented by Brad Korn, The Korn Team

Serving Your Greater Kansas City and Lincoln NE Referrals

www.kornteam.com

Introduction

What You Will Learn (cont.) MREA: Finding and Servicing Buyers Outline 1) 2)

3) 4)

The Role of the Buyer Specialist Preparing for the Appointment Handling Objections Delivering the Buyer

5) 6) 7)

Touring Properties Writing the Offer Putting It All Together

Consultation

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Chapter 1: The Role of the Buyer Specialist

Job Description Buyer Specialist 1) Prospects for, follows-up with, presents to, and services buyers 2) Develops expert knowledge 3) Provides high-level fiduciary needs analysis 4) Consults with clients 5) Effectively negotiates

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Chapter 1: The Role of the Buyer Specialist

Goal Categories The 80/20 Rule Truth: There is a pattern of predictable imbalance in life. It is called the 80/20 Principle. Truth: Doing a lot of things is never a substitute for doing the right things. 1011 MREA: Converting and Servicing Buyers

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Chapter 1: The Role of the Buyer Specialist

The 4-1-1 What is the 4-1-1? 1) Annual Goals 2) Monthly Goals 3) Weekly Goals

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Chapter 1: The Role of the Buyer Specialist

Accountability Preparing for the Accountability Session 1) 2) 3) 4) 5)

S – Specific M – Measurable A – Action Oriented R – Realistic T – Time Bound 1617

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Chapter 1: The Role of the Buyer Specialist

Accountability (cont.) Format of the Session The Weekly Accountability Session 1) 2) 3) 4)

What was your goal? How did you do? How do you feel about that? What do you need to do now?

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Chapter 1: The Role of the Buyer Specialist

Accountability (cont.) Results of the Session 1) Meeting the Goals 2) Not Meeting the Goals

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Chapter 2: Preparing for the Appointment

Chapter 2: Preparing for the Appointment In this chapter, you will… 1) Internalize the winning mindset it takes to get a Buyer Consultation appointment 2) Use the buyer interview form to qualify buyers 3) Prepare for the buyer consultation

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Chapter 2: Preparing for the Appointment

The Winning Mindset How to Get It 1) 2) 3) 4) 5) 6) 7)

Be confident Phone skills are key Take control You’re on their side Give the buyer choices Know where they’re coming from Trial close at every step

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Chapter 2: Preparing for the Appointment

Qualifying the Buyer How to Do It: 1) 2) 3) 4)

Stop! Be prepared for questions Gather Buyer Interview sheet information Use Buyer Interview sheet information File your completed Buyer Interview Sheet

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Chapter 2: Preparing for the Appointment

Preparing for the Buyer Consultation How to Do It: 1) 2) 3) 4) 5)

Buyer Book Team Mission Statement Team Introduction Testimonials Getting to Know Your Agent

6) 7) 8) 9) 10)

Buying vs. Renting Buying a Home (FAQ) Step by Step Process Moving Checklist Service Provider List

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Chapter 2: Preparing for the Appointment

Preparing for the Buyer Consultation How to Do It: (continued) 11) Notes on Viewed Properties 12) Business Cards 13) Homebuyer’s 10’s Sheet 14) VIP Question 15) Who Do You Call When…

MREA: Converting and Servicing Buyers

16) Buyer Representation Agreement 17) Addendum 18) Agency Disclosure 19) Affiliated Business Arrangement Disclosure 20) MLS Search Printout

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Chapter 3: Handling Objections

What Makes Effective Objection Scripts How to Do It: 1) Opportunities to shine! 2) Learn your scripts i. ii. iii. iv.

Listen carefully Assure them Answer patiently Ensure that you have answered their question v. Go for the close MREA: Converting and Servicing Buyers

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Chapter 3: Handling Objections

What Makes Effective Objection Scripts How to Do It: Exercise 1) We Can Find Homes on Our Own 2) We Can Find Homes on Our Own Using the Internet 3) We’ll Use Realtor.com 4) We’ll Find Homes by Calling Signs & Ads 355) We’re in a 2-month Lease 42

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Chapter 3: Handling Objections

What Makes Effective Objection Scripts How to Do It: (continued)

Exercise (continued) 6) We’re in a 3-month Lease 7) We’re in a 4-month Lease 8) We’re Just Not Sure We Want to Buy 9) We Don’t Want to Sign Anything Today 10) We Want to be Free to Work with Other Agents

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Chapter 4: Delivering the Buyer Consultation

Know Who You’re Talking To The D.I.S.C. Personality Profile What is it?

D: I: S: C:

Dominant-Driver Influencing-Inspiring Stable-Steady Compliant-Correct 4546

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Chapter 4: Delivering the Buyer Consultation

Know Who You’re Talking To Another Way of Looking at the D.I.S.C. I: Hot, People/Relationship, Fast/Aggressive D: Cold, Tasks/Thinking, Fast/Aggressive S: Warm, People/Relationships, Slow/Passive C: Cold, Tasks/Thinking, Slow/Passive

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Chapter 4: Delivering the Buyer Consultation

Identify the Steps and Forms How to Do It: 1) 2)

Meet face-to-face Build rapport

3)

Set the expectation

4)

Conduct a needs analysis

5) 6)

Explain agency, the process, and your team Complete a Buyer Representation Agreement

7)

MLS search results

8)

Close the meeting

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Chapter 4: Delivering the Buyer Consultation

Identify the Steps and Forms Step 2: Greet and Build Rapport Using the FORD Technique 1) 2) 3) 4)

F – Family O – Occupation R - Recreation D - Dreams 5253

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Chapter 4: Delivering the Buyer Consultation

Identify the Steps and Forms Step 3. Set the Expectation Your Team’s Mission

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Chapter 4: Delivering the Buyer Consultation

Identify the Steps and Forms Step 4: Conduct a Needs Analysis, Using the Homebuyer’s 10’s Sheet Homebuyer’s 10’s Sheet

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Chapter 4: Delivering the Buyer Consultation

Identify the Steps and Forms Step 5: Explain the Home-buying Process and Your Team’s Value Proposition 1) The Home-Buying Process 2) Experienced Home Buyer 3) First Time Home Buyer

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Chapter 4: Delivering the Buyer Consultation

Identify the Steps and Forms Step 5: Explain the Home-buying Process and Your Team’s Value Proposition (continued)

Your Team’s Value Proposition

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Chapter 4: Delivering the Buyer Consultation

Identify the Steps and Forms Step 6: Explain Agency and Complete a Buyer Representation Agreement Explain Agency

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Chapter 4: Delivering the Buyer Consultation

Identify the Steps and Forms Step 6: Explain Agency and Complete a Buyer Representation Agreement (continued)

Complete a Buyer Representation Agreement

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Chapter 4: Delivering the Buyer Consultation

Identify the Steps and Forms Step 7: Present Your MLS Search Results

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Chapter 4: Delivering the Buyer Consultation

Identify the Steps and Forms Step 8: Close the meeting

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Chapter 5: Touring Properties

The Property Tour How to Do It 1) 2) 3)

Schedule a tour Print MLS information Order MLS sheets

4)

Gift basket/water

5)

Give buyer MLS sheets

6)

Know your scripts

7)

Tour of the properties

8) 9)

Consult with the buyer Visit other properties/reschedule 10) Refine your search 11) Repeat until buyer want to make an offer

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Chapter 5: Touring Properties

The Property Tour Tour Guidelines 1)

3)

Record buyer’s comments Record your comments Rank properties

4)

3 hour maximum

2)

5)

Descriptive names

6) 7) 8)

Pre-qualification FSBO’s Provide feedback

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Chapter 5: Touring Properties

Making a Decision Describing the Process of Elimination 1) 2) 3)

Rank 1 to 10 Pick out 8’s or better Homebuyer’s 10’s sheet

4)

Choose top 3

5)

Place an offer

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Chapter 5: Touring Properties

Making a Decision Objections to Making a Decision Exercise: Practice dealing with decision objections 1)

2) 3) 4)

I Want to Wait for the Price to Drop Before Making an Offer I Want to Sleep on It Before Making an Offer New Agent Will Give Me 1% Back at Closing if I Buy Their Listing Without Having an Agent Represent Me The Builder Will Give Me 1% if I Work Directly Through Them Without an Agent 7779

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Chapter 5: Touring Properties

Making a Decision Objections to Making a Decision (continued) Exercise (continued) 5) Something’s Not Quite Right with this Home 6) We’re Going to Shop Around 7) We Haven’t Seen Enough Homes Yet to Make a Confident Decision 8) We Want to See Every Home in Our Price Range 9) We’re Looking for the Perfect Home 8082 MREA: Converting and Servicing Buyers

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Chapter 5: Touring Properties

Making a Decision Guidelines for Decision-Making: 1) 2) 3) 4)

How would you feel? Lock in the interest rate No way of knowing about other offers Won’t be on the market for one more day

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Chapter 6: Writing the Offer

Write the Offer How to Do It: 1) 2) 3) 4)

Which property? Contact the listing agent Seller’s Agent Questions worksheet Consult with the buyer about price/terms

MREA: Converting and Servicing Buyers

5) 6) 7) 8)

Buyer’s Estimated Charges worksheet Complete a contract for purchase Accept counteroffer/re-counter Earnest money and option fee 8687 Slide 36

Chapter 6: Writing the Offer

Negotiation Guidelines Tips 1) 2) 3) 4) 5)

Establish rapport with the seller’s agent Prepare them for the worst Explain the nuts and bolts Set objective criteria Remove emotion

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6)

Provide copies of contracts

7) 8)

Better act quickly Remain patient yourself 9) lay everything on the table 8810) Go for win-win 89 Slide 37

Chapter 6: Writing the Offer

Negotiation Guidelines Tips (continued) 11)

Get the facts

12) Put the buyer first 13) Look at the bottom line 14) Keep buyers in the loop 15) Let the other party have the final word

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Chapter 7: Putting It All Together

What You Have Learned? MREA: Finding and Servicing Buyers Outline 1) 2)

3) 4)

The Role of the Buyer Specialist Preparing for the Appointment Handling Objections Delivering the Buyer

5) 6) 7)

Touring Properties Writing the Offer Putting It All Together

Consultation

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Chapter 7: Putting It All Together

Exercise: My Action Plan

Complete your own action plan

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