Explaining How One of Three Things Is Going to Happen
Agent: Let me share with you the ________ team’s mission. It’s important that you know that. The mission of the ________ team is to help you achieve your goals and exceed your expectations, so you will never, hesitate to refer us to friends, family, or coworkers. Therefore, at the end of today’s meeting, one of three things is going to happen. One, you’re going to understand all the benefits that our team can provide you, and you’re going to choose to hire us. And that would be great. Two, you may not understand all the benefits that our team can provide you, and you may choose not to hire us. And to be quite honest, that wouldn’t be so great. Or three, I may choose not to represent you in the purchase of your next home. Now, would that be a fair assessment? [Pause to allow them to answer the question.]
Buyer: What do you mean? Why wouldn’t you represent me?
Agent: Well, let me explain why I would say that.
Buyer: Please do.
Agent: Remember that I told you my mission was to help you achieve your goals and exceed your expectations? Well, if at any time in our meeting today I feel I cannot do that, I would rather turn you down now than let you down later, and we can just part friends. Does that sound fair?
Buyer: Yes
Tip: The buyer may respond internally, so it is important to pay attention to body language. Allow them time to absorb the full impact of your presentation.
Source: MAPS Power Hour
Low Pressure Consultant
Agent: In this market, you need a consultant rather than a salesperson. Do you like being high-pressured into making a decision?
Buyer: Absolutely not.
Agent: Nobody does. That’s why our team is fully committed to the consultative approach to selling. I’ll present you with all of the options, and you can make an educated decision. I’m not here to pressure you into making a bad decision. I want to give you enough good information so that you make a good decision. Won’t that be great?
Buyer: Yes.
Determining the Buyer's Motivation
I’d like for my motivation to match your motivation – and what I mean by this is, if you want to buy a home yesterday then you would love it if I called you every day with new listings for you to look at. Wouldn’t you agree?
And if you don’t want to buy a home for 6 months to a year, I would drive you crazy if I called you every day, right?
So I know how to follow up with you best, tell me, on a scale from 1-10, with 10 meaning you have an immediate need to buy a home and 1 means you’re just curious, how would you rate yourself?
(Anything less than a 10) – What would have to happen to bring your motivation to a 10?
Source: MAPS Power Hour
Buyer Closing Costs
Mr. /Ms. Buyer, before we tour homes, let’s discuss closing costs. Generally, if you put 20% down on a house, you can expect your closing costs to be an ADDITIONAL 3% of the purchase price. So, if you were purchasing a $200,000 house, the down payment would be $40,000 and the closing costs would be an additional $6,000, for a total of $46,000. If you put down less than 20%, your closing costs may be as high as 4%.
Source: Ignite
Ask For The Business
The following script details a simple way to obtain an exclusive agreement:
All I ask in exchange for my superior customer service promise is that you agree to work with me exclusively. Does that sound fair?
Okay, can we sign and shake on that?
(Provide the buyer with the Buyer Representation Agreement, explain it, and have them sign it. Then, shake
hands.)
Source: Ignite
Closing The Buyer Representation Agreement #1
What we’re going to do now is sign the Buyer Representation Agreement which puts me to work for you. You’re giving me the tool I need to represent you in your purchase. With this tool, I have the opportunity to negotiate for you and get you the best deal. And getting the best deal is important to you, isn’t it? Perfect, then let’s do the right thing, sign the Buyer Representation Agreement, and put me to work for you.
Source: Ignite
Closing The Buyer Representation Agreement #2
Can you see how it would benefit you to have a professional looking out for your best interests as you search for the best home and negotiate to get the best deal?
Great! This form allows me to represent you and look out for your best interests. Here’s how we take care of that. You just need to okay this agreement right here.
Source: Ignite
Closing The Buyer Representation Agreement #3
We call this agreement our loyalty agreement, where I agree to be loyal to you and take no action detrimental to your best interests. It’s a reciprocal agreement in that I ask you to give me your loyalty in exchange for me working nonstop to find you the best home, at the lowest price, in the least amount of time.
Source: Ignite
Know When To Let A Buyer Go
Mr. /Ms. Buyer, I appreciate your decision. Since I can only work with buyers who work exclusively with me, I’ll have to just wish you luck in your home search. Thanks again for coming in to meet with me today, and let me know if you change your mind.
Source: Ignite
Present The Buyer Needs Analysis
Mr. /Ms. Buyer, thank you for letting me help you. My goal is to give you a 10+ customer experience. To do that, I’d like to get a clear idea on what you are looking for in your new home. So, with your permission, I’d like to spend the next 10–15 minutes exploring what the right home for you would be like. We’ll call this your 10+ home.
It may seem like a lot, but I’d rather ask you 500 questions and show you the right 5 homes than ask you 5 questions and waste your time showing you the wrong 500 homes. Does that work for you?
Source: Ignite
Three Questions Deep
Here in an example of how to move three-deep when asking questions.
Where are you moving?
How soon?
Why is moving to that part of town important to you?
Why will that do for you?
What are you looking for in a new home?
Why is a large yard important to you?
What will that do for you?
What will that ultimately do for you?
Source: Ignite
Conclude The Buyer Needs Analysis
When you wrap up the needs analysis portion of the buyer consultation, let the buyer know that they are unlikely to find a home with 100 percent of the features they are looking for.
Mr./Ms. Buyer, there is no such thing as a 100 percent house. It will have your five must-haves, and possibly some of your nice-to-haves. When we find a house that has your five must-haves— that is, a 90 – 95% house — I’m going to suggest you write an offer. Does that work for you? What are the five must-haves for the home you buy?
Source: Ignite
Five Must Haves
What are the top five things your home must have?
________________________________________________________________________________________________
________________________________________________
_________________________________________________
_________________________________________________
Beyond those five things, what is something else you really must have?
If you could have something else, what would that be?
If you could have one last thing to make this your dream home, what would that be?
Source: Ignite
Establish Your Showing Process
Mr./Ms. Buyer, we’ll be looking at about 5–6 homes when we go out. After you see each home, I’ll ask you if you want to buy it. If the answer is “no,” I’ll ask you to tell me what it was that didn’t work for you, so that I can refine our search and provide a better customer experience for you. Does that strategy work for you?
As we view homes, there are two things I want you to keep in mind. One, that the 100% house does not exist. A 90%–95% house is really a 100% house. And two, I want you to keep your five must-haves in mind, because these will be your determining factors.
Source: Ignite
Keep Focus On The Best Homes
Mr./Ms. Buyer, when we do find the right home, we’ll need to act quickly, and I know you are going to have that feeling of “Well, is there something better out there?” But I have to tell you, the best homes sell right away because they are the best homes.
Do you want to see all the homes, or do you want to find the right one quickly?
Source: Ignite
Setting The Expectation
If I am able to listen properly and you are able to articulate what your needs are, we should be able to find the home you’ll buy within the first five homes we look at. If I find that within the first five homes we’re not doing that, then we have a problem. At that point, I’ll ask you more questions so I can re-evaluate your needs. Fair enough?
Source: MAPS Power Hour