September means Back to Basics here at Inman. As real estate navigates the post-settlement era with new commission rules, real estate professionals from across the country will share what’s working for them, how they’ve evolved their systems and tools, and where they’re investing personally.
You have been doing listing presentations for sellers with great success so now is the time to use these same skills with your buyers. Just like listing appointments, the agents that communicate and present their value in the clearest way will win the business and get their agreement signed. Keep in mind that we never get what we deserve, we get what we negotiate.
Buyer agreements are really a positive thing and because of them buyers will finally hear about and understand the enormous amount of work that is involved in finding them a property and successfully getting it all the way to the closing table.
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This is a time when you will finally have the opportunity to get compensated every time that you take somebody out on a property tour and your income will no longer be dictated by what the cooperating amount being offered is. The days of running around endlessly for no compensation are behind us. It’s about time!
Building a relationship will be key to working with buyers, so it’s a good idea to spend some time with them before heading out to show them properties. In the past, you could just meet your buyer at the first property, but now, planning time for your buyer presentation before actually heading out to show will be a big part of your success.
During this time, you want to discover exactly what they are looking for and if you really want to work together. You also want to lay out exactly the services that you will offer them, the value that you will bring, and the cost of these professional services. Below are the five steps for a winning buyer presentation that will show your value to a buyer and make them feel comfortable about working with you.
Keep it simple
- Plan ahead to meet with the buyer to listen to their needs and spend some time getting to know them and to see if this relationship is a good fit for both of you. This is your buyer presentation time. Avoid running right out to the properties and skipping this important step.
- Go over the complete buying process with them, step by step, using a digital or print buyer presentation that you create, one that they can keep. Be sure to detail every step of the buying process such as mortgage preapproval, property searches, showings, contracts, negotiations, inspections and all of the potential challenges that you will face during the buying process. Explain the closing day activities and how you will handle each of these areas to ensure their success.
- Review your exclusive buyer’s agreement and let them know what your professional fee is and all the options available to them for you to get paid. Keep this short and simple.
- Answer all the questions they may have about the buying process and your agreement. Be sure to uncover anything that they may be hesitant about so that you can address these issues, solve their objections and make them feel more comfortable.
- Let them know that if they are ready to commit to you, you are ready to go to work for them and start showing them properties.
Most buyers are looking for a professional agent who will bring clarity and a stress-free buying experience to them. Someone who will organize the whole process, be able to put out all the fires and be strong enough to negotiate on their behalf. Show them that you are that person and that you care about them, and you will very quickly have that buyer who is ready to sign your buyer agreement and start the process of buying a new home.
Joseph Santini is a managing broker at Coldwell Banker Realty in Boca Raton, Florida. Connect with him on LinkedIn.
