4 -1  Understanding the senior client  Buyer counselling  Establishing needs and wants  Staging a property  Staying out of family business 4. Counselling Buyers and Sellers

4 -2  Length of time since last transaction  Life stage  Health and activity stage  Emotion-laden time  Loss of the financial decision maker  Formalities  Learn about issues and concerns Understanding the Senior Client

4 -3  Learn the buyer’s needs and goals, life stage, health and activity stage, motives for buying  Build trust and rapport  Plan a strategy for finding the right property Goals of a Counseling Session

4 -4 Remember: F = family/friends O = occupation R = recreation D = dreams Building Rapport

4 -5  Any special needs or concerns?  What do you like to do in your leisure hours?  What renovations might be needed?  How does this purchase fit into future plans? Establishing Needs and Wants

4 -6  Meaningful, in writing, and made at the earliest opportunity  Fulfill your province’s agency disclosure obligation Disclose Agency Obligations

4 -7  Property type, description, and price range  Scope of work  Exclusive or non-exclusive  Duration of relationship  Payment for services performed by others  Consent to show properties to other buyers  Potential of a disclosed dual agency situation  Compensation provisions  Nondiscrimination  Other Review the Buyer’s Rep Agreement

4 -8  “Does your mother know you’re doing this?”  Stay focused on the transaction  Be professionally friendly  Include family members when appropriate  Verify the ownership of the property  Ask for proof of power of attorney  Refer to the Code of Ethics Staying Out of Family Business

4 -9  Be cautious when asked to list a home below market value  Write a letter to the client  Prepare a CMA  “Best value in the community” Selling Below Market Value

4 -10  Lifetime of memorabilia or too much bric- a-brac?  Tact and patience  May be necessary to show the home in its cluttered state  “As is” can mean repairs and deferred maintenance issues  Recommend a “de-cluttering” expert Staging a Property