MREA: Buyer Specialist Instructor's Notes 1/17/2019 MREA: Buyer Specialist A Course for the Millionaire Real Estate Agent Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Introduction to MREA: Buyer Specialist Instructor's Notes 1/17/2019 Introduction Introduction to MREA: Buyer Specialist In this chapter, you will… Describe the Ground Rules for this class Identify what you will learn Identify why you are here Identify how you will learn 1 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Instructor's Notes 1/17/2019 Introduction Ground Rules Arrive to class on time, and promptly return from breaks. Move quickly when you are instructed to form small groups or partner with someone to role-play. Limit your side conversations. Turn your cell phones and pagers to vibrate or off. 2 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

2 Ground Rules (cont.) Feel free to stand and walk. Instructor's Notes 1/17/2019 Introduction Ground Rules (cont.) Feel free to stand and walk. Accept the reality of time and participation. Respect the different learning styles and opinions of others. Help each other learn. Consider everything we discuss confidential. Have Fun! 2 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Instructor's Notes 1/17/2019 Introduction Why You Are Here Question: What would you like to get out of this course? 3 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

What You Will Learn 4 About MREA Business Systems Introduction Instructor's Notes 1/17/2019 Introduction What You Will Learn About MREA Business Systems 4 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

What You Will Learn (cont.) Instructor's Notes 1/17/2019 Introduction What You Will Learn (cont.) Finding and Servicing Buyers Action-Oriented Outcomes Understand the role of a Buyer Specialist Prepare for a buyer consultation Prepare for objections Deliver a buyer consultation Present offers for the buyer Create an action plan 5 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

What You Will Learn (cont.) Instructor's Notes 1/17/2019 Introduction What You Will Learn (cont.) MREA: Buyer Specialist Outline The Role of the Buyer Specialist Preparing for the Appointment Handling Objections Delivering the Buyer Consultation Touring Properties Writing the Offer Putting It All Together 6 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

How You Will Learn 7 Get ready for some action-oriented training! Instructor's Notes 1/17/2019 Introduction How You Will Learn Get ready for some action-oriented training! Participate in large group interactive lecturettes. Participate in small group discussions and exercises. Observe your instructor as he/she demonstrates the desired skills and behaviors. Develop an Action Plan. 7 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Chapter 1: The Role of the Buyer Specialist Instructor's Notes 1/17/2019 Chapter 1: The Role of the Buyer Specialist Chapter 1: The Role of the Buyer Specialist In this chapter, you will… Review the job description of the Buyer Specialist Identify the key goal categories Create a 4-1-1 Experience an accountability session 8 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Job Description 9 Buyer Specialist Instructor's Notes 1/17/2019 Chapter 1: The Role of the Buyer Specialist Job Description Buyer Specialist Prospects for, follows-up with, presents to, and services buyers Develops expert knowledge Provides high-level fiduciary needs analysis Consults with clients Effectively negotiates 9 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Goal Categories The 80/20 Rule Instructor's Notes 1/17/2019 Chapter 1: The Role of the Buyer Specialist Goal Categories The 80/20 Rule Truth: There is a pattern of predictable imbalance in life. It is called the 80/20 Principle. Truth: Doing a lot of things is never a substitute for doing the right things. 10-11 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

The 4-1-1 What is the 4-1-1? Annual Goals Monthly Goals Weekly Goals Instructor's Notes 1/17/2019 Chapter 1: The Role of the Buyer Specialist The 4-1-1 What is the 4-1-1? Annual Goals Monthly Goals Weekly Goals 12-13 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

4-1-1 Action Goal Worksheet Instructor's Notes 1/17/2019 Chapter 1: The Role of the Buyer Specialist The 4-1-1 4-1-1 Action Goal Worksheet Annual Goals (Gauge) Monthly Goals and/or Actions (Gauges and/or Levers) Weekly Actions (Levers) 14-15 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Accountability Preparing for the Accountability Session S – Specific Instructor's Notes 1/17/2019 Chapter 1: The Role of the Buyer Specialist Accountability Preparing for the Accountability Session S – Specific M – Measurable A – Action Oriented R – Realistic T – Time Bound 16-17 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Accountability (cont.) Instructor's Notes 1/17/2019 Chapter 1: The Role of the Buyer Specialist Accountability (cont.) Format of the Session The Weekly Accountability Session What was your goal? How did you do? How do you feel about that? What do you need to do now? 18 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Accountability (cont.) Instructor's Notes 1/17/2019 Chapter 1: The Role of the Buyer Specialist Accountability (cont.) Results of the Session Meeting the Goals Not Meeting the Goals 19 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Accountability (cont.) Instructor's Notes 1/17/2019 Chapter 1: The Role of the Buyer Specialist Accountability (cont.) Exercise: What’s wrong with this picture? Find out what’s wrong with the sample 4-1-1 20-21 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

The Role of the Buyer Specialist: Summary Instructor's Notes 1/17/2019 Chapter 1: The Role of the Buyer Specialist The Role of the Buyer Specialist: Summary Review the job description of the Buyer Specialist Identify your key goal categories Create a 4-1-1 Experience an accountability session sum Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Chapter 2: Preparing for the Appointment Instructor's Notes 1/17/2019 Chapter 2: Preparing for the Appointment Chapter 2: Preparing for the Appointment In this chapter, you will… Internalize the winning mindset it takes to get a Buyer Consultation appointment Use the buyer interview form to qualify buyers Prepare for the buyer consultation 22 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

The Winning Mindset 23 How to Get It Be confident Phone skills are key Instructor's Notes 1/17/2019 Chapter 2: Preparing for the Appointment The Winning Mindset How to Get It Be confident Phone skills are key Take control You’re on their side Give the buyer choices Know where they’re coming from Trial close at every step 23 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Qualifying the Buyer How to Do It: Stop! Be prepared for questions Instructor's Notes 1/17/2019 Chapter 2: Preparing for the Appointment Qualifying the Buyer How to Do It: Stop! Be prepared for questions Gather Buyer Interview sheet information Use Buyer Interview sheet information File your completed Buyer Interview Sheet 24-26 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

27 Qualifying the Buyer Exercise Instructor's Notes 1/17/2019 Chapter 2: Preparing for the Appointment Qualifying the Buyer How to Do It: (continued) Exercise Practice gathering information with the Buyer Interview sheet 27 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Preparing for the Buyer Consultation Instructor's Notes 1/17/2019 Chapter 2: Preparing for the Appointment Preparing for the Buyer Consultation How to Do It: Buyer Book Team Mission Statement Team Introduction Testimonials Getting to Know Your Agent Buying vs. Renting Buying a Home (FAQ) Step by Step Process Moving Checklist Service Provider List 28 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Preparing for the Buyer Consultation Instructor's Notes 1/17/2019 Chapter 2: Preparing for the Appointment Preparing for the Buyer Consultation How to Do It: (continued) Notes on Viewed Properties Business Cards Homebuyer’s 10’s Sheet VIP Question Who Do You Call When… Buyer Representation Agreement Addendum Agency Disclosure Affiliated Business Arrangement Disclosure MLS Search Printout 28 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

29 Exercise: Aha! Accountability Instructor's Notes 1/17/2019 Chapter 2: Preparing for the Appointment Exercise: Aha! Accountability Consult with your partner about your Aha’s! 29 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Preparing for the Appointment: Summary Instructor's Notes 1/17/2019 Chapter 2: Preparing for the Appointment Preparing for the Appointment: Summary Internalize the winning mindset it takes to get a Buyer Consultation appointment Use the buyer interview form to qualify buyers Prepare for the buyer consultation Exercise: My Scorecard 30 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Chapter 3: Handling Objections Instructor's Notes 1/17/2019 Chapter 3: Handling Objections Chapter 3: Handling Objections In this chapter, you will… Identify what makes an effective objection response script Identify effective scripts for handling the most common objections agents hear from buyers 31 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

What Makes Effective Objection Scripts Instructor's Notes 1/17/2019 Chapter 3: Handling Objections What Makes Effective Objection Scripts How to Do It: Opportunities to shine! Learn your scripts Listen carefully Assure them Answer patiently Ensure that you have answered their question Go for the close 32 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

What Makes Effective Objection Scripts Instructor's Notes 1/17/2019 Chapter 3: Handling Objections What Makes Effective Objection Scripts How to Do It: (continued) Exercise You Haven’t Been Doing This Very Long We Can Find Homes on Our Own 33-34 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Effective Common Objection Scripts Instructor's Notes 1/17/2019 Chapter 3: Handling Objections Effective Common Objection Scripts How to Do It: Exercise We Can Find Homes on Our Own We Can Find Homes on Our Own Using the Internet We’ll Use Realtor.com We’ll Find Homes by Calling Signs & Ads We’re in a 2-month Lease 35-42 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Effective Common Objection Scripts Instructor's Notes 1/17/2019 Chapter 3: Handling Objections Effective Common Objection Scripts How to Do It: (continued) Exercise (continued) We’re in a 3-month Lease We’re in a 4-month Lease We’re Just Not Sure We Want to Buy We Don’t Want to Sign Anything Today We Want to be Free to Work with Other Agents 35-42 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Handling Objections: Summary Instructor's Notes 1/17/2019 Chapter 3: Handling Objections Handling Objections: Summary Identify what makes an effective objection response script Identify effective scripts for handling the most common objections agents hear from buyers Exercise: My Scorecard 43 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Chapter 4: Delivering the Buyer Consultation Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation Chapter 4: Delivering the Buyer Consultation In this chapter, you will… Tailor your Buyer Consultation to suit the personality profile (D.I.S.C.) of the buyer Identify the steps for the Buyer Consultation 44 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Know Who You’re Talking To Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation Know Who You’re Talking To The D.I.S.C. Personality Profile What is it? D: Dominant-Driver I: Influencing-Inspiring S: Stable-Steady C: Compliant-Correct 45-46 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Know Who You’re Talking To Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation Know Who You’re Talking To Another Way of Looking at the D.I.S.C. I: Hot, People/Relationship, Fast/Aggressive D: Cold, Tasks/Thinking, Fast/Aggressive S: Warm, People/Relationships, Slow/Passive C: Cool, Tasks/Thinking, Slow/Passive 47 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Identify the Steps and Forms Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation Identify the Steps and Forms How to Do It: Meet face-to-face Build rapport Set the expectation Conduct a needs analysis Explain agency, the process, and your team Complete a Buyer Representation Agreement MLS search results Close the meeting 48 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Identify the Steps and Forms Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation Identify the Steps and Forms Steps 1 through 4 Exercise: Practice steps 1 through 4 49 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Identify the Steps and Forms Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation Identify the Steps and Forms Step 1: Meet Face-To-Face as soon as possible Calling From a Property They Wish to Tour Calling From Somewhere Else 50-51 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Identify the Steps and Forms Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation Identify the Steps and Forms Step 2: Greet and Build Rapport Using the FORD Technique F – Family O – Occupation R - Recreation D - Dreams 52-53 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Identify the Steps and Forms Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation Identify the Steps and Forms Step 3. Set the Expectation Your Team’s Mission 54 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Identify the Steps and Forms Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation Identify the Steps and Forms Step 4: Conduct a Needs Analysis, Using the Homebuyer’s 10’s Sheet Homebuyer’s 10’s Sheet 55 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Identify the Steps and Forms Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation Identify the Steps and Forms Steps 5 through 8 Exercise: Practice steps 5 through 8 56 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Identify the Steps and Forms Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation Identify the Steps and Forms Step 5: Explain the Home-buying Process and Your Team’s Value Proposition The Home-Buying Process Experienced Home Buyer First Time Home Buyer 57-61 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Identify the Steps and Forms Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation Identify the Steps and Forms Step 5: Explain the Home-buying Process and Your Team’s Value Proposition (continued) Your Team’s Value Proposition 62 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Identify the Steps and Forms Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation Identify the Steps and Forms Step 6: Explain Agency and Complete a Buyer Representation Agreement Explain Agency 63-64 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Identify the Steps and Forms Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation Identify the Steps and Forms Step 6: Explain Agency and Complete a Buyer Representation Agreement (continued) Complete a Buyer Representation Agreement 65-66 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Identify the Steps and Forms Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation Identify the Steps and Forms Step 7: Present Your MLS Search Results 67 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Identify the Steps and Forms Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation Identify the Steps and Forms Step 8: Close the meeting 68-69 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

KW A&Q 70 Exercise: Display your knowledge about the following topics: Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation KW A&Q Exercise: Display your knowledge about the following topics: Personality Consultation Wild Card 70 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Delivering the Buyer Consultation: Summary Instructor's Notes 1/17/2019 Chapter 4: Delivering the Buyer Consultation Delivering the Buyer Consultation: Summary Tailor your Buyer Consultation to suit the personality profile (D.I.S.C.) of the buyer Identify the steps for the Buyer Consultation Exercise: My Scorecard 71 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Chapter 5: Touring Properties Instructor's Notes 1/17/2019 Chapter 5: Touring Properties Chapter 5: Touring Properties In this chapter, you will… Establish on-going communication during the touring process Identify the steps for creating a great property tour for your buyer Help the buyer make a decision 72 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Establish Communication Instructor's Notes 1/17/2019 Chapter 5: Touring Properties Establish Communication How to Do It Exercise Explaining the Importance of Communication 73 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

The Property Tour 74 How to Do It Schedule a tour Instructor's Notes 1/17/2019 Chapter 5: Touring Properties The Property Tour How to Do It Schedule a tour Print MLS information Order MLS sheets Gift basket/water Give buyer MLS sheets Know your scripts Tour of the properties Consult with the buyer Visit other properties/reschedule Refine your search Repeat until buyer wants to make an offer 74 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

75 The Property Tour Tour Guidelines Record buyer’s comments Instructor's Notes 1/17/2019 Chapter 5: Touring Properties The Property Tour Tour Guidelines Record buyer’s comments Record your comments Rank properties 3 hour maximum Descriptive names Pre-qualification FSBO’s Provide feedback 75 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Making a Decision 76 Describing the Process of Elimination Instructor's Notes 1/17/2019 Chapter 5: Touring Properties Making a Decision Describing the Process of Elimination Rank 1 to 10 Pick out 8’s or better Homebuyer’s 10’s sheet Choose top 3 Place an offer 76 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Making a Decision Objections to Making a Decision Instructor's Notes 1/17/2019 Chapter 5: Touring Properties Making a Decision Objections to Making a Decision Exercise: Practice dealing with decision objections I Want to Wait for the Price to Drop Before Making an Offer I Want to Sleep on It Before Making an Offer New Agent Will Give Me 1% Back at Closing if I Buy Their Listing Without Having an Agent Represent Me The Builder Will Give Me 1% if I Work Directly Through Them Without an Agent 77-79 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Making a Decision Objections to Making a Decision (continued) Instructor's Notes 1/17/2019 Chapter 5: Touring Properties Making a Decision Objections to Making a Decision (continued) Exercise (continued) Something’s Not Quite Right with this Home We’re Going to Shop Around We Haven’t Seen Enough Homes Yet to Make a Confident Decision We Want to See Every Home in Our Price Range We’re Looking for the Perfect Home 80-82 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

83 Making a Decision Guidelines for Decision-Making: Instructor's Notes 1/17/2019 Chapter 5: Touring Properties Making a Decision Guidelines for Decision-Making: How would you feel? Lock in the interest rate No way of knowing about other offers Won’t be on the market for one more day 83 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Touring Properties: Summary Instructor's Notes 1/17/2019 Chapter 5: Touring Properties Touring Properties: Summary Establish on-going communication during the touring process. Identify the steps for creating a great property tour for your buyer. Help the buyer make a decision. Exercise: My Scorecard 84 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Chapter 6: Writing the Offer Instructor's Notes 1/17/2019 Chapter 6: Writing the Offer Chapter 6: Writing the Offer In this chapter, you will… Write the offer for the property Negotiate the contract 85 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Write the Offer How to Do It: Which property? Instructor's Notes 1/17/2019 Chapter 6: Writing the Offer Write the Offer How to Do It: Which property? Contact the listing agent Seller’s Agent Questions worksheet Consult with the buyer about price/terms Buyer’s Estimated Charges worksheet Complete a contract for purchase Accept counter-offer/re-counter Earnest money and option fee 86-87 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Negotiation Guidelines Instructor's Notes 1/17/2019 Chapter 6: Writing the Offer Negotiation Guidelines Tips Establish rapport with the seller’s agent Prepare them for the worst Explain the nuts and bolts Set objective criteria Remove emotion Provide copies of contracts Better act quickly Remain patient yourself Lay everything on the table Go for win-win 88-89 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Negotiation Guidelines Instructor's Notes 1/17/2019 Chapter 6: Writing the Offer Negotiation Guidelines Tips (continued) Get the facts Put the buyer first Look at the bottom line Keep buyers in the loop Let the other party have the final word 88-89 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

90 Exercise: Aha! Accountability Chapter 6: Writing the Offer Instructor's Notes 1/17/2019 Chapter 6: Writing the Offer Exercise: Aha! Accountability 90 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Writing the Offer: Summary Instructor's Notes 1/17/2019 Chapter 6: Writing the Offer Writing the Offer: Summary Write the offer for the property. Negotiate the contract. Exercise: My Scorecard 91 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

Chapter 7: Putting It All Together Instructor's Notes 1/17/2019 Chapter 7: Putting It All Together Chapter 7: Putting It All Together In this chapter, you will… Complete your own action plan 93 Keller Williams@2003 MREA Business Planning Clinic Jan 2004

What You Have Learned! 94 MREA: Buyer Specialist Outline Chapter 7: Putting It All Together What You Have Learned! MREA: Buyer Specialist Outline The Role of the Buyer Specialist Preparing for the Appointment Handling Objections Delivering the Buyer Consultation Touring Properties Writing the Offer Putting It All Together 94

95 Exercise: My Action Plan Complete your own action plan Chapter 7: Putting It All Together Exercise: My Action Plan Complete your own action plan 95