***Delete these slides after reviewing*** Facilitator notes: Print out copies of your region specific Agency Disclosures, Buyer Agency Agreement, RESPA and other regional forms to be signed on first meeting with buyer. Edit Slide #16, #18 and #19 with a visual of your regions agency documents Print copies of each of the hand outs in the hand-out folder to distribute Each associate should turn in their Call Session Tracking & Tips sheet at the end of today’s call session Review assignments for session #5

MD Specific Dialogue “This is why is it so important that you notify me of any homes you see advertised. I can contact the seller and/or their agent and confirm the compensation offered so you are not obligated to pay me or Weichert for your representation. So the 3% (or more) due to me & Weichert, illustrated here, is not likely to be due from you. I can let you know before we go into a property if you will be obligated to pay some or all of the compensation due.”

Six Weeks to Success Session #4: Buyer Strategy

Today’s Agenda YOUR process with buyers Presentation/consultation - customized to your Buyer (repeat buyer or 1st time buyer) Presenting Buyer Agency so they want to work Exclusively with you Dialogues to introduce the Gold Service Manager Prospecting

What is Your Buyer Process? How do you set expectations? Where is your first meeting with a Buyer? What is your agenda for your first meeting? What tools do you use? What is the goal of the meeting? Time frame, communication, criteria for home, access to data, info, forms & homes, discuss service expectations, Always meet at the office the office for 1st meeting, then we can meet wherever after that. Buyer criteria, market conditions, access to homes, representation, communication Buyer consultation presentation, market data, absorption rate tool, mls printouts, gold services info & intro to GSM, pledge of service, Weichert Brochure, Steps of Process Map Get the buyer to work w/ you & no one else & to make into to gsm

“I don’t like….I want…..” Do you use this tool? How many times have you had buyer’s change their original criteria? Do you use this tool?

Buyer’s Single Source What do you have or do that saves buyers time and money? Why should they hire you? What is Your Value? Flip Chart the responses for discussion

Let’s review some of the pages from the Buyer Consultation that will educate the buyers on the value of hiring YOU as their Buyer’s Agent

How does the buyer benefit from the Escalation Clause? How do you present the Escalation Clause? Let’s practice…

What forms do you present at the first meeting? Fair housing RESPA State Agency Disclosure Consent for Dual Agency Exclusive Buyer Agency Agreement SAMPLE sales contract This slide has to be customized to list the region specific forms

What is the benefit of Exclusive Buyer Agency? From the Buyer’s perspective? From the Agent’s perspective? What push back do you hear?

“I want to work with you!” What time frame do fill in? The next few slides must be customized to represent the region specific buyer agency form

Let’s Practice in pairs, then share with the group

Have you tried this? This agreement allows me to make you (buyer) a top priority, so if I have 3 buyer groups looking for the same type of home in the same area in the same price range, I will contact the buyers who I have signed agreement with first to notify them of any new listing that fits their criteria. The compensation that is owed to Weichert and myself, is almost always paid from the sellers’ proceeds, as listed in the MLS. If we find a property that is not already in the MLS, I will try to negotiate my commission directly with the seller first.

Have you tried this? If you select an area you really like but can’t find any homes listed that fit your criteria, I will spend time and money (door knocking or mailers and call the homeowners) to find an owner who would sell to a qualified buyer like yourself - basically creating a FSBO for you! Another benefit is that you won’t be competing against other buyers. I don’t make these offers to buyers who have not signed an agreement to work with me as their agent.

Have you tried this? I am not in the business of making people unhappy. This agreement can be terminated at any time in writing if you decide you are not moving or if you decide you don’t want to work with me and Weichert. Just write on it, “as of (date & time), I cancel the agreement with my agent and Weichert Realtors.” Then sign it, date it and fax it, mail it or deliver it to my office. A great close: “I am always looking out for your value/resale value. So when you call me back in 3 or 5 or 7 years to list it, we can be sure you get the very best resale value.”

All of my customers meet with my Gold Services Manager All of my customers meet with my Gold Services Manager. S/he has valuable information to share that will help you buy your home.

Have you had a chance to learn about your buying power? Have you already been pre-approved? (Typical Dialogue) Have you had a chance to learn about your buying power? (Better Dialogue) Guide Sales Associates to get the Affiliated Business Arrangement/RESPA disclosure signed at the time of the handoff

If a customer says they have already been pre-qualified, then it is even more important to get the customer to the Gold Services Manager to DIFFERENTIATE WEICHERT from the competition.

Best Practices of successful Gold Services handoff Remember to present Gold Services to Every customer Everytime. PRE APPROVAL with WFS will set Buyers on the path to successfully get a home. A pre-approval from Weichert Financial is regarded as SOLID by other brokers! Give your Buyer the Advantage!

Gold Services handoff… let’s practice Break into groups of 3 Each group will receive a common objection to meeting with your GSM Take 10 minutes to create some dialogue to overcome the objection Then present your dialogue to everyone

If your buyer is reluctant to speak with your GSM… “I think you are very smart to buy now. Interest rates are great. I’m glad to help & can suggest a great lender to help you. The lender is XXX, at Weichert Financial. I have the contact number in my phone…” “You can call her today to ensure an appointment with her ASAP. It is the loan dynamics that can be challenging. Even if things are all good with your income & debt (I bet you are in a great position financially) you will need a strong financial commitment from a reputable lender. That is extremely important so you close/settle on time, especially with the time frame you just mentioned.”

If your buyer is reluctant to speak with your GSM… Continued “The way people successfully get homes right now is by being the most attractive and financially solid buyer. Bidding wars are happening again on houses priced right, but you can still get a great house for a great monthly payment! You need a strong negotiator as your Buyer Agent so I am ready to get the process started for you. Can you come to my office in Rockville at 6 pm on Thursday?”

Remember . . .

Something to Consider . . .

80% of new Sales People fail because of call reluctance. Source: Goodson/Dudley, “The Psychology of Sales Call Reluctance,” 11,000 sales people surveyed

F-E-A-R has TWO Meanings: 1. Forget Everything And Run Or 2. Face Everything And Rise The choice is yours!

Prospecting Call your sphere to tell them good news about the market Contact open house guests or internet leads to get them to take advantage of great timing. Call neighbors around your open house for this weekend. Say: “I want to invite you to visit the open house this weekend and I want to apologize for any extra traffic the open house may cause. Hopefully we find you a great new neighbor…”

Thank you for coming, see you next week! Prepare for next week Secure appointments with Sphere/Pure Gold, Open House or Internet leads Bring materials/samples of materials you use to show your value (get paid what you’re worth) at second meeting with a seller Prospecting materials/leads to contact Thank you for coming, see you next week!