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Effective Buyer Consultation: Building Buyer Loyalty & Trust

This session provides instructions on setting up a successful buyer consultation, including a checklist of materials needed and skills to focus on. Participants will learn how to make a compelling statement, set objectives for the initial meeting, and take control of the buyer's journey. The advantages of conducting buyer consultations and strategies for increasing buyer loyalty will also be discussed.

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Effective Buyer Consultation: Building Buyer Loyalty & Trust

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  1. Session 3: Program Set-Up Instructions • Materials Needed: • Flip Chart, paper, markers • Buyer Consultation Materials Checklist from WeichertOne, Working with Buyers. • Buyer Consultation Skills checklist on the Buyer Mastery web page • Getting to Know You and Your Next Home from WeichertOne, Working with Buyers

  2. Program Set-Up Instructions • Sales Associates should show a photo of their Open House display board or bring it in and explain how they used it at the most recent Open House to earn 5 bonus points. • Prepare for your Call Session. Secure Names and Phone Numbers to invite neighbors to upcoming Open Houses (use a free 30-day Trial to Cole Realty Resource). Ask sales associates to bring their Sphere of Influence, leads, Open House guest registers to make follow up calls. • Modify all text in purple for your program and market.

  3. Buyer Mastery Building Buyer Loyalty

  4. Teams and Weekly Roll Up *Present Offer in Person and earn DOUBLE points. Present Offer, Accepted Offer and Opens worth 5 points each. All remaining worth 1 point. Each week, opportunity to earn bonus points will be presented.

  5. Share Your Success • Who conducted a Buyer Consultation this past week? • Did you introduce your buyers to your GSM? • How did it go?

  6. Building Buyer Loyalty To last a Lifetime

  7. What is YOUR Compelling, Succinct Statement to MEET? • Write it down! • Partner up and practice! • Get feedback on your statement

  8. What is YOUR Objective at the initial Buyer Consultation/Meeting? • What do you want to accomplish? • What do you want the buyer to know? • What do you want the buyer to do? • How do you want the buyer to feel?

  9. Your Objective . . . • Understand the process of buying • Receive one-stop shopping • Have an advocate and a negotiator • Buyer should feel • Comfortable with you and trust you • A sense of urgency • Ready to pull the trigger when they see the right house • Buyer should go to you for any real estate question and to see ANY house (brand X, FSBO, etc.)

  10. What Kind of Driver Do YOU Want to Be? Or this kind? This kind? Official Pace Car Taxi Cab Are you going to be led…or are you going to be the one who leads?

  11. There is no prize for showing the most properties to a potential buyer. When you have taken the time to build the relationship, learn about the Buyers needs and wants, get the “mental exclusive” . . . Your success will soon follow! Don’t be a Taxi Driver

  12. To gain the buyer’s loyalty… To differentiate yourself… You have to get in their heads before you get them in your car. To be most effective . . .

  13. When you have a SERIOUS buyer? The buyer who agrees to meet you in the office is a SERIOUS buyer. How do you know . . .

  14. Let’s start with a Question . . . What challenges have you encountered when working with Buyers?

  15. Our Research • We asked the top associates in our company who have demonstrated success in working effectively with buyers, what they’re doing. • Here’s what they told us…

  16. Best Buyer Conversion (Essential Unanimous Steps in Process) Use Buyer Presentation (to control buyer through process) Hand off to GSM (to qualify buyer’s financial capability) Know Listing Inventory (to streamline volume of showings) Share factual data (to support opportunity in market & show your value) Present offer face-to-face ALL SHARE A PERSONAL BELIEF THAT NOW IS A GOOD TIME TO BUY! Weichert Sales Associate Focus Group

  17. Increases Buyer loyalty Differentiates Weichert associates and reinforces our value Educates or re-educates Buyers about current market Motivates Buyers to buy now, rather than wait Allows us to control the Buyer rather than letting Buyer control us Gives us the opportunity to cross-sell our “one-stop shopping” services Advantages of Buyer Consultation

  18. How has the buyer consultation process and tool helped you: Build buyers’ loyalty? Motivate buyers to buy now, rather than wait? Take control and be in the driver’s seat? Who has tried this process?

  19. What STOPS you from using the Buyer Consultation with EVERY Buyer?

  20. Would YOU want a consultation? You’re a professional. You wouldn’t want a surgeon cutting you open without first having a consultation. Doesn’t it make sense to provide a consultation BEFORE you show a home?

  21. When you take a listing . . . You explain your capability and what you’re going to do. Would you start marketing the home and start working for the seller without a written commitment?

  22. “I’d like to see the house on 123 Main Street. Can you meet me there now?” What do you say when a buyer says. . . “The owner requires a courtesy call and some notice. Let me give you the directions to my office, and you can head over here while I track them down.”

  23. “It’s more convenient for me to meet you at the house.” What do you say when a buyer says. . . “I’d love to show you this property. As a professional, I always meet with my clients first before walking them through a seller’s home. I have 2pm open today or 6pm open tomorrow if that would be more convenient.”

  24. “Just send me listings, and when I see one I like, I’ll call you to meet” What do you say when a buyer says. . . “You will find that by meeting with me first, to discuss Exactly What you Want and Need, I can show you only the properties that are worth seeing…instead of wasting your time reviewing listings. Is Saturday morning or Thursday evening better?”

  25. “I don’t have enough time to come to your office first.” What do you say when a buyer says. . . “If it’s more convenient, we can meet at the Dunkin Donuts (or a Weichert office closer to the property). There is some information I need to share with you before we see the house, ok?”

  26. “The other agents always meet me at the house…” What do you say when a buyer says. . . “My clients appreciate the fact that I take the time to review the property, process and market with them before seeing the house. It makes them feel more prepared. Do you know how to get to my office?”

  27. In order to master the buyer consultation and buyer process, we need more appointments. Let’s go after appointments right now through a call session. We’ll call WLN Active and InActive leads, Open House Guests, Buyers you met at Opp Time or through the course of being in the community and doing business. Make a minimum of 50 calls and track . . . Win Appointments! Prospect Follow-up Sheet, DNC Sheet

  28. Today’s Call Session Prize! The Sales Associate with the most appointments secured wins a prize!

  29. The Sales Associate The Gold Services Manager The Buyer Consultation • Establish Rapport & Build the Relationship • Preparation Leads to Success • Conduct the Meeting • Introduce the Buyer to the Gold Services Manager • Close the Meeting • Establish Rapport • Uncover Needs • Share Gold Services Value Story • Validate Now is the Time to Buy • Pre-Approval Process • Next Steps and Close

  30. Key Skills for the Buyer Consultation • Built rapport and used open-ended questions to engage the Buyer and learn about the Buyer’s needs • Smiled, good body language • Made it a conversation. • Provided Value Statements (feature/bridge/benefit statement) • Provided a “Close” to gain the Buyers’ agreement

  31. How do you make it a conversation? • What do YOU do to engage the buyer during your buyer consultation? • How do you make it feel like a conversation, NOT a lecture?

  32. Feature: A prominent characteristic of a product or service Features & Benefits Benefit: What the customer gets from the product - convenience, comfort, saved time, more money, less stress, etc. • Salespeople who excel describe a feature of a product or service and then provide the benefit the buyer will derive from that feature.

  33. Bridge Create Value Statements Feature Benefit This guide describes all the steps in the process of purchasing a home in today’s market. With this . . . We take the guess work out of the process so you can feel comfortable knowing what comes next.

  34. What do we mean . . . • . . . When we say: • Provided a “Close” to gain the Buyer’s agreement

  35. After Your Value Statement, CLOSE! This guide describes all the steps in the process of purchasing a home in today’s market. With this . . . We take the guess work out of the process so you can feel comfortable knowing what comes next. Will this be helpful to you?

  36. Let’s Walk Through it Together • Each person will be assigned a page from the Buyer Consultation. • For your assigned page, share your responses to the prompts on the next slide. • Discuss within your teams (get help and suggestions). • Each person shares with the large group Group Activity: 1 hour

  37. For your assigned page, share . . . • What are the key points for the page? What are you trying to accomplish? • Provide an open-ended question or other idea you have to ENGAGE the buyer on this page? • What visuals or supplemental material would you use on this page? • Share a Value Statement (feature, bridge, benefit) • Provide a “Close” Assign pages to each team (see next slides)

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