Buyer Mastery Through Buyer Consultation

Random conversations with buyers that have no direction or order can be helpful, although in most cases are not. Let’s be honest: Most agents currently working with buyers are not prepared with a specific buyer consultation, or something they know by heart that can be done repeatedly.

A well-prepared buyer consultation must flow. Its main pieces include:

  • Intro
  • Rapport-Building
  • Wants and Needs
  • Next Steps
  • FAQs

The intro is your welcome, an important step that will allow you to get to know prospective buyers as people first. Make sure you come prepared with a packet of information related to yourself, your team and your area (or the area they’re interested in), in addition to a brochure, resume, information on escrow and closing, a copy of a purchase contract and copies of any forms they’ll be seeing and using throughout the process. Provide buyers with anything else that will prepare them for what’s ahead and leave them feeling as though no one cares like you do.

Rapport-building is the sit-down part of getting to know prospective buyers. Ask questions about them, their life, how they got to where they are today and why they decided to buy now versus other times in their lives. It’s also important to ask if they’ve previously had an experience with a real estate agent. If they say yes, ask where they rate that experience on a scale of 1-10, with one being they hope they never see or hear from that agent again and 10 being they wish they could use the agent repeatedly. Continue the conversation by asking what the number they chose means to them. Be sure to pay attention to their answer, as they’ll be telling you how they want to be treated. Finally, ask buyers to describe what attributes an agent would have to possess in order to be given a 10. This is where I tell them that I thoroughly understand that people don’t care how much I know until they know how much I care.

Now it’s time to move onto wants, needs and next steps. This is essentially where you ask buyers what they want in a home, what their anxieties are and whether they have any thoughts and/or questions about the process as a whole. As you go through this area, it’s important to remember that you must educate them on the process. After they’ve expressed any and everything they’re thinking of, or items they may be concerned about as they relate to the process, let them know how much you know. Transitioning to next steps will give you the opportunity to tell them about the process all the way from being pre-approved to the day they get their key. This is also the time to discuss any of the concerns they previously mentioned during the presentation.

Make sure you take great notes and continually ask buyers to tell you more. They need to know you hang on every word they say. Lastly, finish off the conversation by discussing whether there are any questions they wanted you to ask that you didn’t, and whether there are any questions they wanted to ask but haven’t. And never leave an appointment without having set up the next one.

You’re now on your way to buyer mastery. This is only the beginning.

Rick Geha of The Rick Geha Real Estate Team began his real estate career at age 22, has been selling for over 36 years, and has run, managed or owned real estate offices for the past 23 years. His love of people has led him to a successful career as a speaker, trainer and coach. Over the past 15 years, he’s led more than 1,000 classes and workshops throughout the U.S. and Canada. He is currently a coach with Workman Success Systems. Contact him at Rick@RickGeha.com.

For more information, please visit www.workmansuccesssystems.com.

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