Fundamentals In Real Estate Series Part 5 Working with Buyers

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Published on July 23, 2014

Author: remaxmgm

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Fundamentals In Real Estate Series Part 5 Working with Buyers: Fundamentals I n Real Estate Series Part 5 Working with Buyers Pranav Pandya Franchise Development Manager RE / MAX Mumbai Gujarat Maharashtra RECAP: RECAP Part 1 - Getting Started Part 2 - Marketing Part 3 - Prospecting Part 4 – Working with Sellers Today’s Agenda: Today’s Agenda Where do you find buyers? What can be done to attract buyers? Qualifying buyers The buyer interview Property selection Showing property Sample due diligence checklist Overcoming objections Safety considerations The lowball offer Seminar selling Six mistakes buyers make Where do you find them?: Where do you find them? Ways to find buyers: Ways to find buyers Calls on property ads – newspaper/magazine Former clients, friends, center of influence, etc Open houses Door knocking and cold calling Clients with homes currently listed PowerPoint Presentation: Website inquiries Social media Generic promotion ads - bus benches, billboards, etc Referrals Flyers, Just Sold/Just Listed inquiries Office call duty inquiries Office leads Relocation referrals Referrals from veteran Sales Associates What can be done to attract them? : What can be done to attract them? Sources of Obtaining Buyers : Sources of Obtaining Buyers Home matching service Market evaluation Market updates Buyer information booklet Home search plan Pre-qualify Buyer seminars Specific type of buyer: Specific type of buyer First time buyer Apartment buyer Buyers looking in a specific neighborhood area Buyers who sign representation agreements New construction home buyer Executive homes Qualifying buyers : Qualifying buyers Ask Questions Financial Qualifying Needs and Priorities : Ask Questions Financial Qualifying Needs and Priorities Ask Questions : Ask Questions When do you want/have to move? Why is that an important time? How would your plans be affected if you moved sooner? Later? If you found a home today, are you prepared to purchase it? Where are you currently living? PowerPoint Presentation: Do you own your present home or are you renting? Will you need to sell your current home before you purchase? Have you been pre-qualified for a loan with a lender? How long have you been looking for a new home? How many homes have you looked at? Reasons for not buying one of them? PowerPoint Presentation: Is there anyone else who is going to be purchasing this home with you? Are you working with a Sales Associate? If yes, have you signed an exclusive buyer representation agreement? Is the agreement current or has it expired? Do you have any other ads circled that you were planning to call for information? If yes, please give me the names and addresses, I’ll research and provide the information when we meet. Financial Qualifying: Financial Qualifying What price range do you have in mind? How did you decide on that amount? How much over that amount would you go if the home was really appealing? What monthly payment are you comfortable with? Do you know about different down payments and closing costs? Is your down payment a gift from someone? Do you have the down payment in your own savings account? Needs and Priorities: Needs and Priorities What will this move accomplish for you? What neighborhoods interest you? How far from work do you want to be? What items must be present in your new home? What feature, or lack thereof, would immediately rule out a home? What type of home are you looking for? What size? Are you moving up or scaling down? The Buyer Interview : The Buyer Interview PowerPoint Presentation: A Buyer Presentation include Offer of purchase and sale agreement Loan rate/financing information, if needed Articles on market conditions and statistics Your newsletter Testimonials Area information Relocation information, Utilities info., moving with kids info., property tax info. PowerPoint Presentation: Schools , Utilities, Amenities information Home Buyer Plan of your city Buyer representation Agreement Want / needs form Buyer Guide Closing cost information Agency brochure Your resume, personal brochure with contact information Company brochure / Profile PowerPoint Presentation: Obtain all the relevant buyer information Names All phone numbers incl. business, emergency E-mail addresses Employment details, where, for how long Family members names and ages, education requirements If out of town, where family and friends are located PowerPoint Presentation: Discuss Finances Employment history /Down payment /Loan Discuss Buyers’ Needs and Wants Discuss and Sign Buyer Representation Agreement Review Purchase Agreement Discuss Procedure Followed for Viewing Homes Keep in Constant Contact Property Selection: Property Selection Showing Property : Showing Property Due Diligence Checklist: Due Diligence Checklist PowerPoint Presentation: Professional Property Inspections Protect Yourself and Your Client Presenting an Offer Negotiation Overcoming Objections : Overcoming Objections PowerPoint Presentation: Typical Objections Handling Objections Other Buyer Objections Commission Cutting Safety Considerations: Safety Considerations The Lowball Offer : The Lowball Offer Seminar Selling: Seminar Selling 6 Mistakes Buyers Make : 6 Mistakes Buyers Make PowerPoint Presentation: Not Pre-qualified Don’t shop for a mortgage Don’t get professional inspections Don’t use a professional Sales Associate Buy first Don’t know the cost of buying Thank You: Thank You

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