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

2. 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 MREA Business Planning Clinic Jan 2004

3. 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 MREA Business Planning Clinic Jan 2004

4. 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 MREA Business Planning Clinic Jan 2004

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

6. 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 MREA Business Planning Clinic Jan 2004

7. 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 MREA Business Planning Clinic Jan 2004

8. 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 MREA Business Planning Clinic Jan 2004

9. 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 MREA Business Planning Clinic Jan 2004

10. 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 MREA Business Planning Clinic Jan 2004

11. 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 MREA Business Planning Clinic Jan 2004

12. 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 MREA Business Planning Clinic Jan 2004

13. 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 MREA Business Planning Clinic Jan 2004

14. 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 MREA Business Planning Clinic Jan 2004

15. 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 MREA Business Planning Clinic Jan 2004

16. 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 MREA Business Planning Clinic Jan 2004

17. 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 MREA Business Planning Clinic Jan 2004

18. 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 MREA Business Planning Clinic Jan 2004

19. 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 MREA Business Planning Clinic Jan 2004

20. 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 MREA Business Planning Clinic Jan 2004

21. 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 MREA Business Planning Clinic Jan 2004

22. 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 MREA Business Planning Clinic Jan 2004

23. 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 MREA Business Planning Clinic Jan 2004

24. 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 MREA Business Planning Clinic Jan 2004

25. 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 MREA Business Planning Clinic Jan 2004

26. 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 MREA Business Planning Clinic Jan 2004

27. 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 MREA Business Planning Clinic Jan 2004

28. 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 MREA Business Planning Clinic Jan 2004

29. 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 MREA Business Planning Clinic Jan 2004

30. 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 MREA Business Planning Clinic Jan 2004

31. 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 MREA Business Planning Clinic Jan 2004

32. 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 MREA Business Planning Clinic Jan 2004

33. 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 MREA Business Planning Clinic Jan 2004

34. 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 MREA Business Planning Clinic Jan 2004

35. 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 MREA Business Planning Clinic Jan 2004

36. 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 MREA Business Planning Clinic Jan 2004

37. 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 MREA Business Planning Clinic Jan 2004

38. 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 MREA Business Planning Clinic Jan 2004

39. 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 MREA Business Planning Clinic Jan 2004

40. 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 MREA Business Planning Clinic Jan 2004

41. 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 MREA Business Planning Clinic Jan 2004

42. 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 MREA Business Planning Clinic Jan 2004

43. 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 MREA Business Planning Clinic Jan 2004

44. 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 MREA Business Planning Clinic Jan 2004

45. 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 MREA Business Planning Clinic Jan 2004

46. 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 MREA Business Planning Clinic Jan 2004

47. 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 MREA Business Planning Clinic Jan 2004

48. 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 MREA Business Planning Clinic Jan 2004

49. 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 MREA Business Planning Clinic Jan 2004

50. 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 MREA Business Planning Clinic Jan 2004

51. 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 MREA Business Planning Clinic Jan 2004

52. 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 MREA Business Planning Clinic Jan 2004

53. 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 MREA Business Planning Clinic Jan 2004

54. 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 MREA Business Planning Clinic Jan 2004

55. 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 MREA Business Planning Clinic Jan 2004

56. 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 MREA Business Planning Clinic Jan 2004

57. 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 MREA Business Planning Clinic Jan 2004

58. 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 MREA Business Planning Clinic Jan 2004

59. 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 MREA Business Planning Clinic Jan 2004

60. 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 MREA Business Planning Clinic Jan 2004

61. 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 MREA Business Planning Clinic Jan 2004

62. 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 MREA Business Planning Clinic Jan 2004

63. 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 MREA Business Planning Clinic Jan 2004

64. 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 MREA Business Planning Clinic Jan 2004

65. 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 MREA Business Planning Clinic Jan 2004

66. 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 MREA Business Planning Clinic Jan 2004

67. 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 MREA Business Planning Clinic Jan 2004

68. 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

69. 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