Week #14: Working with Buyers

If you want to keep your production down — Work with buyers

Follow these rules to increase your chances

1. 100% of your buyers should be pre qualified. You need to know the real facts. You need to know what they can afford vs what they tell you. You need to know if they have their down payment.
2. Pre qualify them in depth yourself. Download the Buyer pre qual script.
3. 3 types of Buyers you should work with:
   1. Past Clients who are highly motivated and qualified
   2. Sellers of yours that want to list again and need to buy
   3. Highly qualified and motivated referrals
4. Showing property and selling someone a home is also a very specific process. Download from mikeferry.com. Follow the process. tell them the exact process to expect.
5. Only show property when all decision makers are present
6. Have the buyers meet you at your office every time – no acceptations. Don’t meet them at the house, you lose control. have them meet you either at the office or a central location like a coffee shop. You need to continue the sales process after showing the homes
7. Never show more than 3 homes at a time. Show them 3 homes that are the best fit for them and ask them which one they would like to buy. Creates more urgency and less confusion. if they don’t like any, then show them 3 more and ask them which one they would like to buy.
8. We should each have some standard that we follow. can be as simple as this is my process I follow. Important to communicate this to the buyers. I don’t want to waste my time and your time.
9. Sample Standards:
   1. Pre qualified by your lender before showing homes
   2. All decision makers have to be present
   3. They always meet you at your office first
   4. have a broker agreement signed
   5. never show more than 3 at a time
10. Buyers agents very rarely have any standards

Challenge

• Write down 10/20/30/40….all the way to 100
• Circle one for the number of listings you are going to take this year

Homework

• No exception – prequalify every buyer for financing and motivation
• separate yourself from the competition
• Pre qualifying separates you from the competition