Buyer Controlled Sales Module

Ultima Real Estate Services

QUALIFYING THE BUYER, WORKING FOR THE BUYER, AND SHOWING PROPERTIES

 Memorize the 3 questions you should ask every buyer.

Are you a first time homebuyer? What that means is ... have you owned a home in the last 3 years, or are you a recently divorced home maker?

Are you a Veteran? (proceed to next question, too)

Are you a Texas Veteran? What that means is... Did you enlist in the military while you were a resident of Texas, or have you lived in Texas the last two years?

 Write down what you would say to your buyer-client in the first meeting.

 Add another marketing idea to the Real Estate Business Sources Chart (Chapter 3)

 Add another system for automatic business (Chapter 3).

 Decide whether you will or will not require Buyer’s Representative Agreements.

Forms To Become Acquainted With:

Buyer Pre-Qualification Form 1
Buyer Representation Agreement 1 / Buyrep.doc
TAR Buyer Representation Agreement
Wow Your Clients Form
IBS – Information of Brokerage Services

I.QUALIFYING THE BUYER

If your buyer will not answer all Qualifying questions-Do Not Show!

The three areas you will question him about are:Financial

Motivational Home Preferences

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Reasons for Qualifying your prospect

Saves Time on buyers that can’t afford to buy
Creates a more professional image with buyer
Gives buyer confidence in you
The lender’s expertise can provide a program for his needs
Cuts down on the “No Show” factor
Helps alleviate financial confusion
Allows you to delegate
Gives strength when presenting offers to sellers

If buyer doesn’t want to be Pre-Qualified

Then at your discretion, you can...

Show him anyway!
Explain the importance of pre-qualifying
Try to pre-qualify in the car
Refer that buyer to another agent
Don’t show them any more properties

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Qualify in the office or in their home!

Never on the phone or in the car!

The Qualifying Questions...

Is this your first visit to our city?
Where are you from?
Are you originally from that area?
Do you presently own a home?
How long have you lived there?
What is your biggest frustration about “buying a home?”
How is the resale market in your area?
Will you need to market your present property in order to purchase your new home?
Is it on the market?
How long have you been looking for a home?
Have you seen anything that you liked?
Would you please describe it?
What prevented you from purchasing it?
How soon had you planned to be in your new home?
Are you working with any other brokers in the area?
Tell me about the home you’d like to buy today.
How soon would you like to be in your new place?
TO WIFE: How many bedrooms will you need?
What do you like best about your present house?
What did you like the least?
How many are in your family?
For schooling purposes, what is the age of your children?
How much of your savings will you be investing in your new home?
What price range have you been considering?
What is the most you can afford to pay monthly?
How much do you feel you’ll realize from the sale of your home?
What is your biggest fear about buying your home?
Are you both employed?
Where are you employed?
How long have you been employed?
What is your position with the firm?
What hobbies do you have?
How long will you have to see homes today?
If we find the right home today will you be able to proceed today?

Mr. Prospect, with my knowledge of the real estate market, and having access to every property that is for sale, here’s how I like to work. I will concentrate my total efforts on researching every possible property that is on the market and selecting only those properties that meet your requirements. I would like to work with you this way. Do you approve?

GIVE EXAMPLES

With the information you have given me, a home comes to mind that is about $ 100,000 which normally

means about $ 10,000-$ 20,000 down and about $ 1,200 per month. How does that fit into your thinking?

II. WORKING WITH THE BUYER

Before working with the buyer, always have them read and sign the IBS form for your file. Give the buyer a copy for his/her records. Explain the agency relationships and your role with the buyer. We prefer to represent the client we are dealing with.

Buyer Representation Agreement or No Agreement?

TAR Buyer Representation Agreement
Ultima’s Preferred Buyer Agreement

Educate the Buyer

Advertising on properties with other companies

For Sale Signs on properties listed with other companies

For Sale By Owners

Open Houses

New Homes

First Appointment Tip:Since we are saying that we are consultants to our clients, we must act like consultants. Give our clients their options, never Telling them what to do. On your first appointment with buyer clients, bring them into the office, explain the IBS, agency relationships, your relationship with them, and then what they are looking for. Let them watch you as you look up property on MLS and then make the showing appointment. The reason you are doing this is to let them see what goes on behind the scenes. Let them see it takes you more than the 1 hour looking at properties. This builds esteem in the clients eyes about what you do. If you hide all the work, you will be sorry later.

III.SHOWING PROPERTY

Your goals when showing property:

Remember these letters:MMFI! Make Me Feel Important!

When you are with your client, always make them feel important.

Get the buyer excited and emotionally involved about one property he can afford!

Determine who makes the final decision

A.The Buying Decision

Buyers “buy” the home you are showing in the following manner...

House Payment
Community
Neighborhood
Street
Outside of Home
Inside of Home

B.Showing Checklist

Call first before showing a property
Always call back if you don’t show a property
Preview whenever possible
If they are motivated to buy, don’t quit showing until they do.
Select a good route.
Don’t oversell house prior to showing

Separate Lookers form buyers

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C.Pre-conditioning to properties with negatives

Small bedrooms / Compact bedrooms
Small kitchen / Step saver kitchen
Grass is grown up / Both husband & wife work
Needs painting / Much easier to do when the home is vacant
Property is on a busy street / Can buy more house for less

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D. Showcasing The Properties

Watch carefully for buying signals
Ask “What do think of this house?”
Always park across the street from house.
As you approach the front door, SAY: Let’s look at this house as if it were vacant.
Once inside the door; SAY: Let’s make ourselves at home, I’m here just to answer questions
Keep them together inside the house!
Try to save something good for last. but show it first!

For Example, House with Pool--Show the Pool FIRST!

Get Buyer emotionally involved in the house.
TRY to be enthusiastic!
The better you know the product, and the more you know how to sell, the easier it is to be enthusiastic!
Never show more than 5 homes at 1 time.
Let the customer take notes while you show
Always take 1 car, even if is theirs
Never make a statement, only ask questions while showing

4 Reasons you must ask questions

1-Questions keep you on the right track

2-Questions keep you in control

3-Questions keep the customer involved mentally!

4-Questions keep the customer involved emotionally

Throw Back Technique-Answer all questions and then ask a similar question back?

Customer:What kind of car do you drive?

Agent:I drive a 240SX, have you ever driven one before?

Roger Butcher Technique

In the front of home and driveway

Agent:Before we go in, I would like to give you some information.

(give the prospect a brief description of the property)

This home has three bedrooms, two baths, central heat and air, and is $ 100,000.

(Don’t tell them too much; let them discover some things on their own.

I always like to show every home the same way to make it easier for you. And I will show you the bedrooms first, then the remainder of the home. Imagine the home to be vacant and how your furniture will fit.

Showing the bedrooms

Agent:What size bedroom furniture do you have?

Which one of the children would get this bedroom?

Showing the hallway closets

Agent:Here you have plenty of linen storage

Bob, you may like to see the heater closet.

Showing the living room/family room

Agent:How would you arrange your furniture in this room?

The fireplace is wood burning (or has a gas starter).

This would certainly make a nice game room, wouldn’t it?

Showing the kitchen

Agent:This home does have…

a Work-saving garbage disposal

a Time-saving dishwasher

a Convenient double-sink

Wood grain cabinets

Showing the garage

Agent:These cabinets provide a nice storage area, don’t they?

Where would you put your freezer?

This work bench would come in handy, wouldn’t it?

Showing the back yard

Agent:Watch for any dogs

You’ll notice it has a nice TV Antenna/Satellite.

There’s plenty of room out here. (While out in the yard)

E.Trial Close

Agent:Do you feel this property meets your needs?

Will this be convenient to drive to work?

F.Returning to the car

Agent:Bob and Mary, would you please tell me your likes and dislikes of the home we have just seen?

It’s pretty obvious you really like this home. Why don’t we go back to the office and see what it looks like on paper?

G.Before they leave your office ALWAYS make another appointment!

To discuss that home further
To show additional homes, or
Write a low offer on the home they like the best

H.4 Keys To Selling Property

Meet the Client’s Needs
Find Properties That Meet Some of Their Wants
Search Out Their Dislikes
Make It Easy for The Buyer To Buy From You

Need to know which side of the street a certain house is on? Here’s the best way to remember this:

North & EastOdd Numbers

South & WestEven Numbers

This will help you if you are trying to determine whether a certain property backs to a busy street, or when client requests a house facing a certain direction.

Property Defects

Be sure you look carefully at any property your client is showing interest in for defects.

It is always best to point out the good, bad, and the ugly. The client will appreciate your honesty and will consider you a trusted advisor. Interestingly, clients will often buy the property anyway, they just prefer to know before they make an offer, as opposed to after they move into it.

WOW Your Clients

Client’s Name: ______(_____) ______

(First and Last Name) (Day-time Phone Number)

Client’s Name: ______(_____) ______

(First and Last Name) (Day-time Phone Number)

Client’s Home Phone #: (_____) ______

Best Time to Call: _____ to ______AM ___PM

Current Address: ______, ______

(Street Address) (Apt #) (City) (State) (Zip Code)

Future Address: ______, ______

(Street Address) (Apt.#) (City) (State) (Zip Code)

____ Just Listed Home at ______for ____ Sale ____ Lease

____ Just Purchased Home at ______to close ___ /___ /___

____ Just Rented an Apartment/Home at______

Client’s Ultimate Scenario: ______

______

Was Referred by:

______. ______(_____) ______

(First and Last Name) (Address) (State) (Zip Code) (Day-time Phone #)

Referral Thank You letter sent: ___/___/___

Broker-Owner follow-up call: ___/___/___

Broker-Owner Thank You letter sent out: ___/___/___

Assistant’s Follow-up call: ___/___/___

Assistant’s Introduction Letter: ___/___/___

Other: ______/___/___ Other: ______/___/___

PROGRESS REPORT FOR :

WEEK OF / /

Prospecting / Monday / Tuesday / Wed. / Thursday / Friday / Sat. / Sunday / Totals
Face to Face Contacts
Expired Listings
FSBOs
Door to Door Canvassing
Warm Calls
Cold Calls
Marketing
Mail outs
Thank you notes
Placed Brochures
Activity
Viewed Property
Showed Property
Listing Presentations
Results
Listings Taken
Listings Sold
Buyers Sold
Referrals
Totals

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