Working with Buyers, Day 1

Weekly Objective: Become an expert Buyer’s Consultant!

Are you a Consultant or a Salesperson?

Watch: What is the Difference between Consultative Selling and Normal Selling?

Action Item:

Take notes as you watch this video and be able to explain to a prospect in 30 seconds how your role as a consultant differs from that of a salesperson.

This week’s plan will be as follows:

Monday: How to conduct an initial phone interview

Tuesday: Putting together your Buyer Presentation

Wednesday: Practice your Buyer Presentation

Thursday: How to set up your Buyers with an MLS search

Friday: Effectively Showing Properties


Monday’s Objective: As you diligently continue to prospect you will begin to see your phone ring from prospective Buyers. Today we are going to focus on the initial phone call from a prospective Buyer. You will use this same process on floor time and when sitting open houses for prospecting. The goal of this initial conversation is to schedule a face to face appointment and get them pre-approved! Use the following questions to conduct this initial conversation.  You can find additional options in the buyer questionnaire.

13 Steps to the Initial Phone Interview:

  1. Ask if they are already working with an agent
  2. Ask if they are pre-approved for a loan
  3. Tell them why it’s good to get approved
  4. Ask if they already have a lender
  5. Schedule a meeting where all parties can attend
  6. Explain the buyer questionnaire
  7. Explain how the MLS works
  8. Tell them they will sort through the list of potential homes
  9. Explain that buying is a process of elimination
  10. Explain that they will be comparing properties when you show them homes
  11. Explain that they may have 2-3 homes to write offers on
  12. Summarize the process and get the initial appointment
  13. Remind them to get the pre-approval

This approach may seem a little aggressive but getting your Buyers into action immediately commits them to you and your process. If they are not willing to get pre-approved or set a time to meet, then they are probably not real Buyers.

Action Item:

  1. Watch Talking with a Buyer for the First Time- Phone Conversations
  2. Do a mock phone call with a fellow agent or friend. Keep in mind that practice is the key to success.  A professional golfer wouldn’t think of changing his or her swing during a tournament. They would spend hours honing their skills on the practice range. Take this same approach!