The Buyer Consultation Process

Before the Consult

The Buyer Consult Process

  1. Confirm the Appointment
    1. Confirm the date and time and ask any additional pre-qualifying questions that might have been missed
    2. Confirm the location of the consultation
    3. Confirm any other decision makers will be in attendance as well
    4. Send a calendar invitation
    5. Create a Deal Card in SISU
  2. Materials Prepared
    1. Have the Buyer Agreement filled out and ready for electronic signature Print out a physical copy of the buyer agreement

    2. If you have a buyer guide or buyer packet, ensure they are printed out and personalized where applicable

      Basic Checklist

      Reserve your meeting space

    3. If meeting somewhere public where reservations are not available, arrive early to secure seating to prepare your meeting space.
    4. Show up early
    5. Confirm tech is working
      1. Do you have wifi?
      2. Is your laptop charged?
      3. Do you have your laptop charger
      4. Have additional pens & notepads
  3. Review the client’s profile in FUB from start of their history in the CRM
  4. Know the following local market trends with local market trends
    1. Inventory in the price point and location your client is searching in
    2. Days on Market
    3. Any other changes to the local landscape that are relevant to your clients search
    4. Recent solds


Stage 1: Connect

  1. Set the Intention

    Frame the meeting with your desired outcome. I.e.

    1. "My goal here today is to ensure you understand the buying process, manage expectations, and if we decide that you’re a good fit for me and I’m a good fit for you, we’ll sign an agreement for me to exclusively represent you.”
    2. “Today’s goal is to prepare you for the process of buying a home and to see if we want to work together. When and if we do, we’ll sign an exclusive agreement for me to represent your interests.”
  2. Rapport
    1. Ask 1-2 Personal but not too personal questions. i.e.
      1. “What are the must-haves for your children in the home?”
      2. What do you like about the area?
      3. What experience do you have with the home buying process?
      4. Motivation

Go “3 Deep” on their motivation. I.e.

  1. What’s prompting the move?
  2. What’s important to you about <motivation>

  3. How do you feel about not making <motivation happen> if we don’t find you a

    home to purchase?


Stage 2: Needs Analysis

  1. Uncover Needs

    Ask questions about their needs and drill down on their responses with 2 more questions. i.e.

    1. One Deep: Tell me about the property you’re looking for?
    2. How important is it that we have (pick important need)
    3. On a scale of 1-10 with 10 being highly important and 1 being irrelevant, how important is (important need)?

  2. Prioritize Needs

    Make the needs compete. I.e.

i. If this happened, yet this did not, how would you feel?


Stage 3: Education

  1. Review the Process

    Ask, “What do you understand about the home buying process?”

    Teach them how to interact with your tech that you send properties from Schedule the next appointment now (showing)

    Market Specifics

    Ask, “How much do you know about the Real Estate Market?” Explain:

    1. Local Market Nuance i.e.
      1. Multiple offers
      2. Days on Market shorter/longer than before
      3. Inspections being waived in multiple offers etc
    2. Appraisal

1. Simply state the appraisal process i.e

a. The appraisal is a third party opinion that determines the value

of the home. The appraisal can come in below list price, over list price, or at list price. We will determine how to move forward together in any of those outcomes.”

iii. Inspection

1. Simply state the inspection process i.e

a. During the transaction there will be an inspection on the property. There is no such thing as a perfect home. Some items will be a big deal, some will not be a big deal, we get to decide together on how you want to move forward.

iv. Understanding their purchase plans

1. Determine how they intend to purchase the property and where they

are at in the process. 3. Do You Know How I Get Paid?

Ask simply, “Do you know how I get paid?” i. Response option

1. The seller can pay me, you can pay me, or a combination of both. ii. Expect objections to arise here

Stage 4: Expectations

  1. Communication Preferences
    1. ASK: Do you prefer to be communicated to primarily via phone call, text, or email?
    2. ASK: When is the best time to reach you?

    3. SAY: I will communicate through phone, text, and email, but will prioritize direct

      communication through (their preference)

    4. Explain how and when you communicate. (this is setting boundaries)

      Showing Homes Process

    5. Discuss availability
    6. Educate them on the typical process to see a home
    7. Teach them how to request a showing with you
    8. Let them know what’s going on behind the scenes
  2. Address Objections

a. Be sure all objections are out on the table and identify any unresolved issues i.e.

  1. Is there any reason not to go ahead with this?
  2. Is there anything else that would keep us from moving forward today?

Stage 5: Agreement

1. Get it signed

a. Here is the standard agreement that all realtors use so I can get to work for you. It’s

easy, and I can even send it electronically to sign.



Brief Recap

Stage 1:  

Connect.

Set the stage for the Buying process

Ask 1-2 'not too' personal questions

3 Deep on motivation


Stage 2: Needs Analysis

Scale 1-10 on deal breakers

Prioritize Needs



Stage 3: Education

What do they know about the process?

Market Stats

Inspection

Appraisal

Financing

How you're paid as an agent


Step 4: Expectations

Best time to reach them?

How & when you will communicate (text and email). Set boundaries

How to setup a showing with you

What happens when you look at/ prepare to look at a house.  Behind the scenes