Counseling the Buyer “We’ve got to start meeting like this !”

Steps in the Home Buying Process… Start Preview Initial Interview Show Property Offer Contract Inspections Negotiate Pre-qualify EM Dep. Remove Cont. Title Company Mortgage Company Credit Report Appraisal Title Search Verifications Underwriting Assemble papers Loan Approval Closing Possession

Purpose of First Meeting Establish rapport Discover their needs / concerns

How do we build rapport? Create similarity Visually--- Mirror Verbally? Ask questions Their ‘story’ Probe motivation; wants; needs; ‘vision’ of . . Seen a lender? Vocally--- Pace; energy (enthusiasm)

Purpose of First Meeting Establish rapport Discover their needs / concerns Qualify Financing Selection criteria

Qualifying (cutting through the maze) Rules of thumb 28% of gross 36% of gross Benefits of pre-qualification / pre-approval Leverage down payment The ‘stretch’, or it’s a 5 year decision

Purpose of First Meeting Establish rapport Discover their needs / concerns Qualify Financing Selection criteria Define a working relationship

Benefits of Buyer Agency Confidentiality Accounting in dealings Reasonable skills & care Loyalty Obedience Disclosure of all material facts

Rules to get paid by . . . Benefits of loyalty “What’s in it for me” Downside of shotgun approach Access to everything Builder registration F.S.B.O. cooperation Signs Ads Strength of conviction--- Process works! Referrals (one thing leads to another) Set it up from the beginning (10 min.)

Words to Remember . . . If I sell you a home I have a sale, but if I serve you I build a career How? By determining & meeting both the “transactional” needs AND the emotional needs of your clients Buyers have a ‘picture’ in their heads--- a home; lifestyle; etc.

Understanding Buyer Needs / Motivations Life style issues Rent v.s. buy Tax Advantages % deductions means? Capital gain exclusion Investment Potential Appreciation Equity (principal reduction) Sweat equity

Finding the perfect home . . . The process: ‘Qualification’ criteria--- Tradeoffs MLS search Preview turn over every rock Show the best Feedback Revise, if necessary The ‘best’ one will be ‘revealed’ Other Mindsets: Believe in ‘the now’ Creating urgency! Enthusiasm sells Genuine empathy We’re different Company resources Your dedication