It’s tough being a buyer in a hot seller’s market. Prices are up and available homes are selling quickly, often receiving multiple offers.
Despite this, real estate agents have the power to create a smooth experience for their aspiring homeowners. It’s all about expectations — when an agent explains the market realities at the beginning of the journey, the buyer is less likely to run into any unpleasant surprises later.
The best way to do this is with a thorough real estate buyer presentation. This is a meeting where the agent walks and coaches the buyer through the entire homebuying process, asking about their wants and needs and establishing a frame of reference. During this time, the agent will build a rapport with the clients, getting to know more about their hobbies, interests and personalities. You’ll also walk away with a complete picture of what that buyer wants, so you can best serve them throughout the transaction.
To deliver a world-class buyer presentation, focus on these key steps:
- Provide a Buyer Questionnaire. Create a worksheet for buyers to fill out by hand, or ahead of time online. Get contact information, property preferences (location, number of rooms, etc.) and other relevant information about their housing needs. The point is to get the clients to physically write (or type) their real estate goals. This helps get all parties on the same page, and allows you to keep a clear picture of what these clients are looking for.
- Describe the Process. Walk buyers through the real estate process. Go over what it means to get prequalified and how they can get started. Shed some light on the home search process and talk them through what to do should they want to tour a property they found online. Explain what to expect when it’s time to make an offer and what happens after the papers are signed. It helps to provide a resource with this information for your clients to reference.
- Establish Parameters. Discuss aloud their expectations regarding location, price and style/condition to gauge a frame of reference. For example, if the buyer wants to purchase a home near the beach, but their price range below average for that area, then they’d have to adjust the style of the home they want. Work with the buyer to find the perfect combination so they know where to begin their search.
- Educate on the Market. Keep your buyers up to speed with the current marketplace to help them adjust their expectations. They should understand the real estate market indicators to know what their journey will look like. After all, market knowledge is purchasing power!
For more tips on how to conduct a world-class buyer presentation, check out The Pathway to Mastery®—Advanced. This next-level real estate training program from Buffini & Company dives deep into the buyer’s journey and how an agent can help. Sign up for The Pathway to Mastery®—Advanced today!