The real estate buyer presentation is a crucial step for every Realtor to win their potential client’s trust, get started on the process of helping them secure their dream home, and successfully close the deal.
A good buyer presentation is the foundation of a successful real estate transaction. In this post, we’ll discuss what a buyer presentation is, how to conduct one, and tips to make each one end with a happy client.
Watch How I Conduct a Buyer Presentation
Watch as I conduct a mock real estate buyer presentation. Some of the buyer presentation elements, like calculating a mortgage and searching for properties, are shortened for the sake of time. Check out my real estate agent buyer checklist for a complete guide on interacting with buyers from the first showing to closing day.
How To Get Started With Your Buyer Presentation
The buyer presentation is the first thing you should do with all your new buyer clients. Usually, I ask to meet them at a local coffee shop close to where they’re looking to buy their home.
To start off the presentation, you’ll ask your buyers several important questions. Always be searching for the “why” behind their answers.
Don’t just ask the questions. Find out why they want things to be a certain way. That builds trust and gives you a deeper understanding of what they are looking to accomplish.
Digging deeper into the client’s “why” will also allow you to make suggestions that you may not have initially conceived.
Build Rapport To Start The Buyer Presentation
Be sure to start the buyer presentation off by building rapport. Ask questions to find out about them as a person, such as how long have they been in the area? Where do they work? How did they hear about you and your brokerage? Why are they looking to buy a new home? Have they purchased a home before?
These questions will start the relationship off right and make the rest of the meeting that much smoother.
The First Question You Should Ask
After you’ve established rapport with the home buyer, the first question you should ask is what type of home they are looking to buy.
The reason I like to start with this question is that it breaks the ice. Even though you started by building rapport, you may not be entirely comfortable with one another yet.
For this reason, starting with what they are looking for in a home is a fun and easy question. Most clients like to talk about what they are looking for because it’s exciting to them.
Go over the needs and wants of your client in relation to their desired dream home. Ask them about bedrooms, bathrooms, size, location, and age of the home. Be sure to bring up any special requirements, such as if they want their home to have a 3-car garage, swimming pool, larger lot size, a particular school nearby, etc.
Based on their feedback, I then go back and ask which of those features are non-negotiable, which ones are must-haves for their home, and which are just “nice-to-have.”
Mortgage Payment And Pricing Discussion
The next step in the real estate buyer presentation is to start a discussion on mortgage and pricing. I’ll typically lead by asking what price range they are looking to stay within. I’ll then follow up and ask if that’s the amount they are pre-qualified for or just a number they wrote down.
Because most buyers are mostly concerned with the monthly payment, I then ask what’s a comfortable monthly payment for them and how much they are looking to put down on the property.
With this information, you can do the necessary real estate math to see if their home price aligns with their desired monthly payment and down payment.
I typically use Zillow’s mortgage calculator, as I’ve found it’s the most basic and easy one to use. You can download the app on your phone, so it makes it very simple to calculate payments when you’re out at your buyer consultation.
Explain Your Home Searching Process
Do you work as a team or as an individual buyer’s agent? Do they reach out to you directly to set up a home tour? Who is going to be the one searching for properties for them?
This part of the meeting is where you go over all that type of information. You want to set the right expectations upfront with how the potential buyer gets on your calendar to see homes. Be sure to cover how much notice is typically required. Will you be sending them properties, or will they be the ones doing the bulk of the searching?
Be sure to cover how your team works, if you have one. Let the client know what your roles are on the team and if they will be interacting with other people along the way.
Pull Up Homes and Get On The Same Page
Next, you’ll want to take a few minutes to pull up homes on the spot for a comparative market analysis (CMA). Be sure you understand precisely what the client is looking for.
An important reason for doing this is that it confirms their expectations and needs are reasonable and can be accomplished, and they aren’t overestimating what their budget can afford them. It’ll also position you as an experienced agent in the local market.
If I have my computer on me, I pull it out for this part of the buying process. If I don’t, then having the MLS app on my phone works equally well. I will input the information they told me earlier and scroll through a few listings with them.
I let the client tell me what they like and don’t like about each listing. If no properties exist based on their requirements, we go back and have a new discussion about lowering certain expectations. Keep doing this until you can find a reasonable amount of homes for a tour.
Going Over the Buyer Representation Agreement
Before actually scheduling the tour, I go over the buyer’s representation agreement. I explain that my brokerage offers an “easy exit buyers agreement.” This gives the buyer peace of mind to know that if I don’t find them a home or provide them with the level of service they expect, they can cancel the agreement at any time with proper notice.
You should also explain during this time how commissions work. Let the buyer know that we earn our commission from the seller, and only once we find them a home.
Scheduling The First Home Tour
At this point, we can set up our first tour. We can either go on the tour directly after the presentation or set up a later day and time that is more convenient for both parties.
If we are going out right after the buyer presentation, then I’ll tell them it’ll take me a few minutes to get everything scheduled.
I’ll start by scheduling vacant homes first since they are typically “go and show” and can be set up immediately. Then you can plan to swing by the occupied homes since they usually require more notice before accepting a showing.
Final Thoughts on Real Estate Buyer Presentation
The buyer presentation is a crucial part of your real estate business. If you do a good job, you’ll have a satisfied client and come away as a successful real estate agent.
What are your buyer presentation tips for real estate professionals? Let me know in the comments below!
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