Securing a Home for Your Buyers and Call Session Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Securing a Home for Your Buyers and Call Session Weichert University June 2007 1

Let’s Get Started Success Stories Activities Board Success Story Board Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Let’s Get Started Success Stories Activities Board Success Story Board Call Session Results Announcements/Updates Today’s Agenda Weichert University June 2007 2

Objectives Practice demonstrating properties Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Objectives Practice demonstrating properties Identify the steps involved in ensuring your buyers move into the residence of their dreams. Practice negotiating an offer to purchase. Weichert University June 2007 3

Demonstrating Properties Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Demonstrating Properties Changed line Before you leave the office… What should you do? Weichert University June 2007 4

Demonstrating Properties Tips Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Demonstrating Properties Tips Ring the doorbell Introduce buyers to sellers Knock on all closed doors Let the buyers enter the room first There is more… Weichert University June 2007 5

Demonstrating Properties Tips Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Demonstrating Properties Tips Point out features & benefits Keep everyone together Keep quiet about the sellers’ housekeeping or decorating Make notes Weichert University June 2007 6

Practice: Demonstrating Properties Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Practice: Demonstrating Properties Work in teams Review room photographs Determine features & benefits Identify challenges “Demonstrate” one room for the class Weichert University June 2007 7

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Securing a Home for Your Buyer Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Securing a Home for Your Buyer Do what it takes! Write & present an offer Negotiate Reach agreement Provide exceptional service Follow-up on the process Countdown to close Reap the Rewards Happy customers Your commission Weichert University June 2007 13

Benefits of Controlling the Buying Process Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Benefits of Controlling the Buying Process Gain confidence Build a good reputation in the business Satisfy buyers Establish relationship with buyers Receive referral business from satisfied buyers Represent the Weichert name - your success is everyone’s success Weichert University June 2007 14

Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers The Process As their Buyer’s Agent, You are their Guide to the Process…your consistent follow up will ensure their closing Put in new one Weichert University June 2007 15

Your Buyer Wants to Make an Offer Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Your Buyer Wants to Make an Offer Ensure they are pre-approved Fill out a REBNY Financial Statement Determine a closing date Determine what price to offer Contact Listing Agent Obtain Copy of Seller’s disclosures Changed Weichert University June 2007 16

What are the components of a good offer? Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers What are the components of a good offer? Write the answers on page 6-5 Weichert University June 2007 17

Necessary Sales Paperwork Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Necessary Sales Paperwork Buyers’ pre-approval Agency disclosure forms Copy of OLR listing REBNY Financial Statement Escalation Clause (where applicable) Changed around Weichert University June 2007 18

Presenting the Offer Do it in person Resolve conflict Negotiate Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Presenting the Offer Do it in person Resolve conflict Negotiate Facilitate process Keep communication open Respect legal & industry requirements Get the residence for the buyer! Weichert University June 2007 19

Tips for Presenting the Offer Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Tips for Presenting the Offer Coach buyers Contact listing agent ASAP Present it Position strength of buyers Emphasize benefits to sellers Remain calm Have a negotiation plan Weichert University June 2007 20

Presenting the Offer What next? Acceptance Rejection Counter Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Presenting the Offer What next? Acceptance Rejection Counter Multiple Offers Negotiate Weichert University June 2007 21

Negotiating for Your Buyer Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Negotiating for Your Buyer Weichert University June 2007 22

Tips for Successful Negotiation Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Tips for Successful Negotiation Set high goals Have tough initial demands Make consistently smaller concessions Make every concession appear major Tie up a concession with “What if…” or “If I could…” Work towards a Win-Win Agreement Weichert University June 2007 23

Critical Negotiating Mistakes Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Critical Negotiating Mistakes Inadequate preparation Ignoring the give/get principal Use of intimidating behavior Impatience Talking too much & listening too little Arguing rather than influencing Changed image, does this work? Weichert University June 2007 24

Negotiating a Counter Offer Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Negotiating a Counter Offer Communicate to Buyers right away Assess Buyers’ emotional response Isolate major objections Put a positive spin on the offer Reconnect the Buyers to the property Advise or close the Buyers on next step Weichert University June 2007 25

Negotiating Multiple Offers Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Negotiating Multiple Offers Gather information Determine seller’s concerns Closing date, price, terms Coach Buyers Introduce the Escalation Clause Negotiate in one session Determine buyer flexibility Get Manager involved There is more… Weichert University June 2007 26

Negotiating Multiple Offers Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Negotiating Multiple Offers Remove contingencies Present offer in person Create buyers’ connection and emotional impact Proceed to Sellers’ Attorney (if needed) Weichert University June 2007 27

Practice: Presenting an Offer Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Practice: Presenting an Offer Work in groups of four Roles Scenario Present an offer Negotiate an agreement Debrief Weichert University June 2007 28

Reach Agreement You’ve Got a Deal! Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Weichert University June 2007 29

Time to Get Busy Complete Steps 7-16 Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Time to Get Busy Complete Steps 7-16 Weichert University June 2007 30

The Race to the Finish Inform the buyers of acceptance Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers The Race to the Finish Inform the buyers of acceptance Complete and follow-up on sales paperwork Complete and submit Report of Sale to Processing Manager Arrange for inspections and appraisal Communicate with buyers and sellers’ agent Provide resources to buyers There’s more… Weichert University June 2007 31

The Race to the Finish Ensure buyers obtain mortgage Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers The Race to the Finish Ensure buyers obtain mortgage Attend inspections, appraisal Submit buyers’ Board Package (when applicable) Attend walk through Ensure utilities are transferred Submit commission bill Attend settlement/closing Took out warranty, added pckg. Weichert University June 2007 32

The Closing Attend settlement/closing Collect TRID Docs Thank everyone Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers The Closing Attend settlement/closing Collect TRID Docs Thank everyone Ask for referrals Pick up your commission check Weichert University June 2007 33

Follow Up Submit commission check to Processing Manager Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Follow Up Submit commission check to Processing Manager Order “Just Sold” cards Confirm OLR update on sold listing with Processing Manager Send Just Sold Emails using WeichertPRO Make neighborhood calls to notify of sale OLR Weichert University June 2007 34

Keeping the Relationship Going Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Keeping the Relationship Going Send a thank you note or a gift to buyers Call to check in on them Offer any additional assistance as they move-in Keep contact on going Put reminders in your WeichertPRO Calendar Call regularly Weichert Pure Gold will automatically send mailers Weichert University June 2007 35

Today’s Call Session

Practice * Practice * Practice The Choice is Yours… Set a Goal and keep a Positive attitude Have a compelling reason for the call Use personalized, customized information coupled with on-target value statements “Having a compelling reason and a compelling message can help reduce your fear big time!” Paul Castain Practice * Practice * Practice

Beginners: Experts: They will Meet with Me! The Phone Will Ring I will speak to the person, or I will leave a message. I will offer them some valuable information They will say “I’m Not Interested” (70% of the time) I will close for an Appointment or Follow Up They will Meet with Me! They will Hang Up on Me… I will sound like I don’t know anything What if they ask me a question that I don’t know? They won’t be interested What happens if they say yes?

Prospecting Tips from the “Pros” Art Sobczak Author of Smart Calling Approaches calls with a “primary objective” and a “secondary objective.” What can we apply to our real estate business? http://www.sellingpower.com/content/video/?mid=567&pageNum=1&catid=9

Plan Your Call! Primary Objective Secondary Objective Secure an appointment to meet with them concerning their real estate needs: To Purchase To Sell Or Both Would you know of anyone in your family or perhaps a friend who may be in need of my services? Would you like to be on my preferred customer list and receive a quarterly email update on real estate activity in your local market? After all, it impacts the value of your property.

Offer a Local Market Update (Quarterly) For your Secondary Objective: Give them relevant, local information using this convenient template in WeichertPRO. Simply fill in the blanks with your MLS data. Make it personal “After all, this affects the value of YOUR property!” Access this resource in WeichertPRO, Marketing

Taking Care of Business Fast Track Facilitator Notes Session 6: Securing a Home for Your Buyers Taking Care of Business Weichert University Related online courses Federal Lead-based Paint Disclosure Law Multiple Offer Strategies WeichertPRO.com Related online Training and Job Aids Adding an Appointment or Task to Your WeichertPRO Calendar WeichertOne Sales Associate Resources Today’s Work Assignments Tomorrow’s Agenda Have a Productive and Successful Day! Weichert University June 2007 42