Buyer Consultation Workshop

1. Buyer Consultation Workshop

2. So…What Kind of Driver Are You Going to Be? Or this kind? This kind? Official Pace Car Taxi Cab Are you going to be led…or are you going to be the one who leads?

3. Don’t be a Taxi Driver • There is no prize for showing the most properties to a potential buyer. • When you have taken the time to build the relationship, learn about the Buyers needs and wants, get the “mental exclusive” . . . • Your success will soon follow!

4. To be most effective . . . To gain the buyer’s loyalty… To differentiate yourself… You have to get in their heads before you get them in your car.

5. How do you know . . . When you have a SERIOUS buyer? The buyer who agrees to meet you in the office is a serious buyer.

6. What do you say when a buyer says. . . • “I’d like to see the house on 123 Main Street. Can you meet me there now?”

7. To Get Buyers into the Office “The owner requires a courtesy call and some notice. Let me give you the directions to my office, and you can head over here while I track them down.” (Don’t forget to get their name, phone number, etc. in case the call gets dropped.)

8. Agenda • What the top associates do • New Process and Buyer Consultation tool demo • Rehearsals • Action Plan

9. Let’s start with a Question . . . • What challenges have you had working with buyers?

10. Our Research • We asked the top associates in our company who have demonstrated success in working effectively with buyers, what they’re doing. Here’s what they told us…

11. Weichert Sales Associate Focus Group Best Buyer Conversion (Essential Unanimous Steps in Process) • Use Buyer Presentation (to control buyer through process) • Hand off to GSM (to qualify buyer’s financial capability) • Know Listing Inventory (to streamline volume of showings) • Share factual data (to support opportunity in market) • Present offer face-to-face ALL SHARE PERSONAL BELIEF THAT NOW IS A GOOD TIME TO BUY!

12. Standard Buyer Consultation Based on these Associate best practices, we’ve created a Buyer Consultation process and tools. What are the advantages of having a standard Buyer Consultation process?

13. Advantages of Buyer Consultation • Increases Buyer loyalty • Differentiates Weichert associates and reinforces our value • Educates or re-educates Buyers about current market • Motivates Buyers to buy now, rather than wait • Allows us to control the Buyer rather than letting Buyer control us • Gives us the opportunity to cross-sell our “one-stop shopping” services

14. Who has tried this process? How has the buyer consultation process and tool helped you: • Build buyers’ loyalty? • Motivate buyers to buy now, rather than wait? • Take control and be in the driver’s seat? (If no one has, that’s okay. We’re going to be trying it out next.)

15. The Sales Associate The Gold Services Manager The Buyer Consultation • Establish Rapport & Build the Relationship • Preparation Leads to Success • Conduct the Meeting • Introduce the Buyer to the Gold Services Manager • Close the Meeting • Establish Rapport • Uncover Needs • Share Gold Services Value Story • Validate Now is the Time to Buy • Pre-Approval Process • Next Steps and Close

16. Buyer Consultation - Associate • How many people have seen the Buyer Consultation video? Would it help to see it again? • Here’s a checklist to use and follow while you observe the video. • Use this to take notes and check when you see the Associate complete the actions under each step.

17. Buyer Consultation Feedback Let’s review your notes and checklist . . . • What did the Associate do that was most effective? • What do you think the Associate could do differently to be even more effective?

18. Buyer Consultation - GSM • Let’s look at the GSM’s portion of the meeting • Here’s a checklist to use and follow while you observe the demo. • Use this to take notes and check when you see the GSM complete the actions under each step.

19. Buyer Consultation Feedback Let’s review your notes and checklist . . . • What did the GSM do that was most effective? • What do you think the GSM could do differently to be even more effective?

20. Let’s Review the Flow & Props • First, establish rapport • Next, show the Buyer Consultation • When you see the “Getting to Know You and Your Next Home”, pull out the questionnaire and use it • Props for the “Home Buying Process” segment • Weichert Brochure • Guide to the Buying Process • Pledge of Service • Agency documents • On the page, “Houses priced right are selling fast” show MLS property sheets with houses that have sold quickly (in green marker). • On the last page, along with the properties they’re going to preview, give them a blank Contract of Sale so they can review at their leisure.

21. Before we begin to practice . . . Let’s discuss the “trio training” concept. • It’s a skills practice approach that helps us “rehearse” the Buyer Consultation together. • This will help us feel more comfortable when we try it out with buyers. • We will help each other with feedback.

22. How does Trio Training work? • We will practice in small groups of three • When we practice, we will take turns in different roles: • Sales Associate • Buyer • Observer

23. Let’s take 2 Minutes to Prepare • Decide who will play the Observer. You’ll be using the same checklist we used before. • Decide who will play the Buyer. Here’s a set of Buyer Profiles stapled together. Use the Buyer Profile #1 and review your role so you can play the Buyer. • Sales Associate: Review the Buyer Consultation & the “Getting to Know You and Your Next Home”. I have all your “props” on the table – Weichert Brochure, agency disclosure, etc.

24. Practice Round 1: Your Roles • The Observer will watch the practice and take notes. Use the checklist. • The Buyer will give the Sales Associate a realistic skill practice. Use the Buyer Profile #1. • Sales Associate: Build rapport first, then proceed to the actual consultation by using the Buyer Consultation Presentation and the Getting To Know You and Your Next Home form. Use all the “props”.

25. Practice Round 1: Buyer Situation • The Buyer Profile #1 has more details for those who are playing Buyers, but here is what we know so far… • Jane or John Erikson • Associate met them at Open House • Currently Renting in the city • Wants to move to the suburbs • Practice Time: 20 Minutes • Any questions? Go!

26. Feedback Discussion • Start with the Associate who practiced: What do you think you did well? What would you consider for next time? • Then ask the Buyer: What worked well for you? What would you suggest for next time? • Observer: What did the Associate do well? What should s/he consider for next time? • Observer: Please hand the Associate the completed checklist and your notes.

27. Imagine that you have already…. • Built rapport with the Buyers • Uncovered their wants and needs • Discussed what’s happening in the market • Educated them on the home buying process and how you will work with them • Mentioned about additional helpful Weichert services that your Gold Services Manager will cover Now you’re ready to hand them over to the GSM…..

28. Let’s practice the handoff • Sales Associate: brief the GSM on key points, give them the Getting To Know You and Your Next Home form and introduce the GSM to the Buyer. • Observer: please play the “GSM” for the purposes of this 2-minute practice. Go!

29. Practice - Again • Let’s give the others a chance to practice. • Please switch roles so everyone has a different role to play in this round. • We’re going to practice the same skills and steps. • Buyer: Please use the Buyer Profile #2 so you can give the Associate a realistic skills practice.

30. Practice Round 2: Your Roles • The Observer will watch the practice and take notes. Use the checklist. • The Buyer will give the Sales Associate a realistic skill practice. Use the Buyer Profile #2. • Sales Associate: Build rapport first, then proceed to the actual consultation by using the Buyer Consultation Presentation and the Getting To Know You and Your Next Home form. Use all the “props”.

31. Practice Round 2: Buyer Situation • The Buyer Profile #2 has more details for those who are playing Buyers, but here is what we know so far . . . • Sandy Smith • Referral from previous client • Currently owns condo • Hoping to buy house in same town • Practice Time: 20 Minutes • Any questions? Go!

32. Feedback Discussion • Start with the Associate who practiced: What do you think you did well? What would you consider for next time? • Then ask the Buyer: What worked well for you? What would you suggest for next time? • Observer: What did the Associate do well? What should s/he consider for next time? • Observer: Please hand the Associate the completed checklist and your notes.

33. Imagine that you have already…. • Built rapport with the Buyers • Uncovered their wants and needs • Discussed what’s happening in the market • Educated them on the home buying process and how you will work with them • Mentioned about additional helpful Weichert services that your Gold Services Manager will cover Now you’re ready to hand them over to the GSM…..

34. Let’s practice the handoff • Sales Associate: brief the GSM on key points, give them the Getting To Know You and Your Next Home form and introduce the GSM to the Buyer. • Observer: please play the “GSM” for the purposes of this 2-minute practice. Go!

35. Practice Round 3 – Last Round! • Switch roles for the last time. • We’re going to practice the same skills and steps. • Buyer: Please use the Buyer Profile #3 so you can give the Associate a realistic skills practice.

36. Practice Round 3: Your Roles • The Observer will watch the practice and take notes. Use the checklist. • The Buyer will give the Sales Associate a realistic skill practice. Use the Buyer Profile #3. • Sales Associate: Build rapport first, then proceed to the actual consultation by using the Buyer Consultation Presentation and the GTKY form. Use all the “props”.

37. Practice Round 3: Buyer Situation • The Buyer Profile #3 has more details for those who are playing Buyers, but here is what we know so far . . . • Chris Moyer • Called in during Op Time • Wants to sell his/her home and buy another • His/her house has been on market for 3 months • Practice Time: 20 Minutes • Any questions? Go!

38. Feedback Discussion • Start with the Associate who practiced: What do you think you did well? What would you consider for next time? • Then ask the Buyer: What worked well for you? What would you suggest for next time? • Observer: What did the Associate do well? What should s/he consider for next time? • Observer: Please hand the Associate the completed checklist and your notes.

39. Imagine that you have already…. • Built rapport with the Buyers • Uncovered their wants and needs • Discussed what’s happening in the market • Educated them on the home buying process and how you will work with them • Mentioned about additional helpful Weichert services that your Gold Services Manager will cover Now you’re ready to hand them over to the GSM…..

40. Let’s practice the handoff • Sales Associate: brief the GSM on key points, give them the Getting To Know You and Your Next Home form and introduce the GSM to the Buyer. • Observer: please play the “GSM” for the purposes of this 2-minute practice. Go!

41. Debrief • Do you feel comfortable with the new process and tools? • Do you feel comfortable with the Buyer handoff from you to the GSM? • Does this tool help build buyer loyalty and get them to pull the trigger? • What insights do you have from this process?

42. Key Tips and Techniques • It’s a conversation, not a presentation. Ask the Buyer questions along the way. • Slow down . . . It takes time to emotionally connect with the buyers. Take control by slowing yourself down to slow them down. • Use the Defer Technique to stay on track.“We’ll get to that . . .”“We’re going to cover that in just a few minutes . . . First, I need to show you…” • Working as an Associate/GSM team is most effective.

43. Additional Resources • Go to WeichertOne, Sales Associate Resources, Working with Buyers and check out the Buyer Consultation page. • There’s helpful dialogue, tips, and ideas there! • The Buyer Consultation presentation is there, too. • Take the online Buyer Consultation course on Weichert University to learn even more and review this tool.

44. Call to Action • Conduct a minimum of two Buyer Consultations. • Use the Buyer Consultation Process and Presentation • Share your experience in our next sales meeting • Good luck and have fun!

45. Thank you for your active participation and focus today!