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Perfecting Your Buyer Consultation

Learn how to conduct a successful buyer consultation, understand the benefits for both the buyer and agent, and practice closing and overcoming objections. Gain valuable skills to differentiate yourself and increase buyer loyalty.

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Perfecting Your Buyer Consultation

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  1. Perfecting Your Buyer Consultation

  2. Our Objectives for Today Discuss the purpose and benefits of Buyers Consultation. From the Buyer’s perspective and the Agent’s perspective Practice Closing and Overcoming Objections for the Buyer Consultation Appointment Reinforce flow and content of the Buyer consultation with a live demonstration. Practice presenting the Buyer Consultation with peers. Provide and receive feedback from peers.

  3. The Benefits of the Buyer Consultation • From the Buyer’s Perspective: • Saves them time: • “Hire me to do the research and leg work for you.” • “I will provide you a team of professionals who can assist with any situation or concern you may have through the entire process.” • Educates them so they are better prepared to purchase. • Reduces frustration and disappointment

  4. The Benefits of the Buyer Consultation From Your Perspective: • Increases Buyer loyalty. • Differentiates you and reinforces your value. • Understand Buyers’ needs and wants. • Decreases amount of time looking at properties. • Educates Buyers about current market. • Motivates Buyers to buy now, rather than wait.

  5. Steps for a Great Meeting • Follow the agenda – follow the sequence and use the presentation as a guide for your conversation. • Learn about the Buyers and their goals & priorities. • Demonstrate value all along the way – use dialogue such as “What makes me different . . .” • Sign Pledge of Service - “This is my personal commitment to you – to represent you every step of the way.” • Review agency and secure Buyers’ signature on appropriate state disclosure document.

  6. Let’s Review the Flow & Props • First, establish rapport • Next, show the Buyer Consultation • When you see the “Getting to Know You and Your Situation,” pull out the questionnaire and use to it • Share props for the “Home Buying Process” segment • Weichert Brochure • Guide to the Buying Process • Pledge of Service • Agency documents

  7. Pop Quiz . . . Where can you find most of the materials you will need to conduct an effective Buyer Consultation?

  8. www.WeichertOne.com

  9. A GREAT Resource . . .

  10. Flow & Props cont’d. On the page, “Houses priced right are selling fast” show OLR property sheets with properties that have sold quickly (in green marker).

  11. Flow & Props cont’d. Sign the Pledge in front of them and hand it to them after you explain everything you will do for them as their Buyer Agent.

  12. Lets Practice Presenting the “V Tool” In real estate, this circular area at the bottom of the V is called the “Buying Zone” – it’s an unbelievable time to buy. Ask them to point to where they think prices are right now, and where they think rates are right now.

  13. What has a more substantial effect on the monthly payment? 5% change in Price OR 1% change in Interest Rate

  14. Are you familiar with Weichert’s Escalation Clause? “Have you ever bid for items on Ebay?”

  15. Key Skills for an Effective Consultation • Uncovering Wants & Needs (all along the way) • Review the key points on each page • Ask Open-Ended Questions (to engage and make it a conversation) • Buyer Agent Value Statements (feature, bridge, benefit) • Closes

  16. Practice Round 1: Your Roles The Observer will watch the practice and take notes. Use the checklist. The Buyer will give the Sales Associate a realistic skill practice. Use the Buyer Profile #1 in your book. Sales Associate: Build rapport first, then proceed to the actual consultation by using the Buyer Consultation Presentation and the Getting To Know You and Your Situationform.

  17. Feedback Discussion Start with the Associate who practiced: What do you think you did well? What would you consider for next time? Then ask the Buyer: What worked well for you? What would you suggest for next time? Observer: What did the Associate do well? What should s/he consider for next time? Observer: Please hand the Associate the completed checklist and your notes.

  18. Practice Round 2: Your Roles The NewObserver will watch the practice and take notes. Use the checklist. The NewBuyer will give the Sales Associate a realistic skill practice. Use the Buyer Profile on the next page. New Sales Associate will pick up from the second half of the presentation. Continue to engage the buyer and gain agreement by having the buyer sign Exclusive Buyer Agency.

  19. Feedback Discussion Start with the Associate who practiced: What do you think you did well? What would you consider for next time? Then ask the Buyer: What worked well for you? What would you suggest for next time? Observer: What did the Associate do well? What should s/he consider for next time? Observer: Please hand the Associate the completed checklist and your notes.

  20. Today’s Call Session

  21. GIVE Something of Value and GET an Appointment

  22. What can you offer to each prospect? • Lets take 5 minutes to discuss dialogue within your group: • What do you have of value to offer as a “fair trade item”? • How will the prospect benefit by scheduling time to meet with you? • Take notes, so you can share your ideas & tips with the class.

  23. Offer Something of Value For Sellers For Buyers Guide to the process so you can share all the steps and they can feel comfortable knowing what comes next. Market Analysis Snapshot – to understand their negotiating power in various locations. Personal tour of the area with shopping, commuting options, schools, etc. if they’re unfamiliar. • Price evaluation on their property (Price Trend Analysis) • Market update (to share what’s happening in the market – how quickly properties are selling, trends in the market place, etc.) • Newsletter on market trends and real estate updates

  24. Offer Something of Value For Sellers For Buyers An Executive Summary of the property type they’re interested in with active listings, solds, list to sale price ratio, days on market, etc. • Just Listed: Offer to take them on a tour of what’s listed so they can get a sense of what’s on sale and how it compares to their residence. • Guide to the Process so they can see what is involved in marketing and selling their home.

  25. Team Captains, please roll up the numbers! Prize! The Sales Associate with the most appointments secured wins a prize!

  26. Taking Care of Business • Weichert University • Related online courses • Dialogue and Tips for the Buyer Consultation Presentation • WeichertOne Sales Associate Resources, “Working with Buyers” Have a Productive and Successful Day!

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