kwu buyer mastery stud workbook v1.1

V1.1 © 2008 Keller Williams Realty, Inc.

Buyer Mastery Workbook

Julie Fantechi

> The Skills and Tools You Need to Work with the Greatest Number of Buyers in the Best Possible Way <


Acknowledgements The author gratefully acknowledges the assistance of the following individuals in the creation of this workshop:

Jennifer Boyd Kim Harryman Jeffrey Ryder

Scott Bullard Roger Higle Reba Saxon

Skip Colfax Tamara Hurwitz Laurie Sparrowhawk

Doris Carlin Brad Korn Jim Talbot

Roland Castillo Chris Medina Stacia Thompson

Mona Covey Cristina Murphey Toni Tolerico

Bryon Ellington Shannon Musgrove Mary Keith Trawick

Matt Fetick Julie Nelson Pat Zahasky

Bruce Hardie Jay Papasan

Notices While Keller Williams Realty, Inc. (KWRI) has taken due care in the preparation of all course materials, we cannot guarantee their accuracy. KWRI makes no warranties either expressed or implied with regard to the information and programs presented in the course or in this manual.

Material excerpted from The Millionaire Real Estate Agent and SHIFT: How Top Real Estate Agents Tackle Tough Times appear courtesy of The McGraw-Hill Companies. The Millionaire Real Estate Agent is copyright © 2003–2004 Rellek Publishing Partners, Ltd. SHIFT: How Top Real Estate Agents Tackle Tough Times is copyright © 2008 Rellek Publishing Partners, Ltd.

Copyright notice

All other materials are copyright © 2008 Keller Williams Realty, Inc.

Printed October 2008.

No part of this publication and its associated materials may be reproduced or transmitted in any form or by any means without the prior written permission of Keller Williams Realty, Inc.


Table of Contents

HOW YOU WILL LEARN....................................................................................... 7

Role Model, Role-Play, Real-Play ............................................................................................7 Gear to Get There....................................................................................................................13 Perceive What You Will Achieve...........................................................................................15 Ground Rules............................................................................................................................17

GET FOCUSED ....................................................................................................19

Why Buyers?..............................................................................................................................19 Why You? One Buyer Master’s Story ...................................................................................23

GET THE APPOINTMENT.....................................................................................25

Buyer Leads...............................................................................................................................25 Mastering Lead Conversion....................................................................................................27 Lead Sheets ...............................................................................................................................29 Scripts.........................................................................................................................................33 Role Model ................................................................................................................................43 Role-Play....................................................................................................................................43 Real-Play ....................................................................................................................................45 Aha’s and Action Plan .............................................................................................................55

OBJECTIONS .......................................................................................................59

Handling Objections................................................................................................................59 Mastering Objections...............................................................................................................62 Key Objections.........................................................................................................................65 Role Model ................................................................................................................................70 Role-Play....................................................................................................................................71 Aha’s and Action Plan .............................................................................................................75

CONDUCT A THOROUGH BUYER CONSULTATION ............................................79

The Buyer Consultation Time Line.......................................................................................83 Mastering the Buyer Consultation .........................................................................................87 Part 1—Set the Stage ...............................................................................................................89

Get Focused


4

Part 2—Do the Needs Analysis .............................................................................................97 Part 3—Share Your Value Proposition.............................................................................. 105 Part 4—Educate Your Buyers............................................................................................. 111 Part 5—Set Service Expectations ....................................................................................... 122 Part 6—Close for the Agreement ....................................................................................... 130 Part 7—Establish Next Steps.............................................................................................. 140 Aha’s and Action Plan .......................................................................................................... 152

LEAD CONVERSION WRAP UP......................................................................... 156

FINAL ACTION PLAN........................................................................................ 162

Workshop Aha’s .................................................................................................................... 163 You’ve Got It......................................................................................................................... 164

APPENDIX......................................................................................................... 166


Welcome to Your Buyer Mastery Workbook!

How You Will Learn


6

Notes . . .

For more on Mastery:

Buyer Mastery Guides Introduction


How You Will Learn

You learn best by doing. There is no substitute for hands-on, action-oriented practice, so get ready to share, ready to write, ready to act. Today you will:

• Drill down and analyze what to do and what to say

• Participate in facilitated discussions

• Evaluate your performance and plan for future improvement

oe Montana, the football legend, was neither exceptionally fast nor tall. And yet he always came through when the 49ers had to win a game or score a touchdown. How did Montana do it? Apart from any innate skill or talent, it came from practice. To be on his

game for the crucial minutes—or even seconds—of a game, Montana routinely practiced fifty hours a week. Remember that in your business, game time is not practice time. At the critical moment, when you need to make that figurative touchdown, you want to have practiced your moves so many times you can do them with what appears to be effortless grace.

Role Model Role-Play Real-Play A core objective for agents seeking mastery is to integrate what they have learned in the classroom into their daily business. This workshop will do just that. You will watch as your instructor models best practices, and you will observe masters in action on video. Then, after some thorough role-playing in the safe and neutral classroom environment, you will be asked to put your new skills to work for you in the real world by placing appointment-setting calls to actual prospects. Think of these exercises as your cash bonus for attending today—setting just one appointment could lead to a closed transaction, and that could mean thousands of dollars in your pocket.

Role-Play + Real World = Real-Play

Notes . . .

J

How You Will Learn


8

Insights from The Millionaire Real Estate Agent “The trick to getting the most out of our creativity is always to start with a set of proven foundational models for success. Once we find success with our initial models, we can then allow for creative thinking. But only after we’ve followed the models do we allow ourselves to tweak, innovate, refine, and fiddle until the models work to the level of our expectations. The key to taking this approach is to avoid placing creative innovation ahead of the effective implementation of proven foundational models. The truth is that when you add creativity to a practiced and proven model, you will always have a much greater chance of achieving your highest possible results.”

How You Will Learn


9

Mastery Model There are three components of buyer mastery:

Knowledge—by reading and studying the Buyer Mastery Guides, you attain knowledge.

Skills—by attending the workshop, and using this workbook, you gain and hone the skills.

Accountability—through coaching and consulting, you will be held accountable to all you learn and do.

How You Will Learn


10

Notes

“Tell me and I’ll forget. Show me and I may remember. Involve me and I’ll understand.”

CHINESE PROVERB

How You Will Learn


11

Knowledge In the Guides, you will find:

• Models and systems that are tested and proven ways of accomplishing Big Goals.

• Information and resources to build your knowledge base and clarify your understanding of the subject matter.

• Stories, lessons learned, anecdotes, and advice from top agents who offer invaluable insights.

• Links to KWConnect videos to enrich your understanding of the course material. Watch for the icon in your course materials.

Skills During your classroom learning experience, you will find:

• The Practice Workbook containing exercises, role-plays and discussion that allow you to master new skills and clarify you’re thinking in a safe environment.

• Your classmates and instructor. Don’t underestimate the value of what you can learn from your peers as they ask great questions, share their experiences, and participate in exercises with you.

• KWConnect videos to enrich your understanding of the course material. Watch for the icon in your course materials.

Accountability Methods Accountability is, in the KW experience, the most crucial part of goal achievement. To support your goal setting, we recommend you:

Develop a Buyer Mastery Action Plan. At the end of this workshop, you will create a plan that outlines the specific actions you will take to achieve your goals. Select an accountability partner or program to help you measure, evaluate, and make adjustments to your Action Plan. Look to the following resources for an accountability relationship:

• KW MAPS Institute individual and group coaching • Market Center Productivity Coach • Team Leader • ALC Members • Peers/Mastermind group

Notes

How You Will Learn


12

“The greatest achievement of the human spirit is to live up to one's opportunities and make the most of one's resources.”

MARQUIS DE VAUVENARGUES FRENCH MORALIST

How You Will Learn


13

Gear to Get There Get equipped with skills, practice, and results!

What You’ll Do Here 1. Get the Appointment

Using the two critical tools—lead sheets and scripts—fine tune your skills to get more appointments than ever before.

2. Get the Signed Buyer’s Representation Agreement

Build a winning and convincing Buyer Consultation that turns a prospective buyer into a customer.

3. Master Buyer Objections with Great Scripts

Practice and learn to own and adapt scripts that overcome challenging buyer objections.

Welcome to Buyer Mastery!

How You Will Learn


14

Notes . . .

“When you write down your ideas you automatically focus your full attention on them. Few of us can write one thought and think another at the same time. Thus a pencil and paper make great concentration tools.”

MICHAEL LEBOEUF BUSINESS AUTHOR AND FORMER MANAGEMENT PROFESSOR

How You Will Learn


15

Perceive What You Will Achieve What do you want to do with what you learn today? What are you big goals?

What are your goals?

Achievement 1:

___________________________________________________________

__________________________________________________________

Achievement 2:

___________________________________________________________

__________________________________________________________

Achievement 3:

___________________________________________________________

_________________________________________________________________

By When?

One Month: ____________________________________________________

One Year: _____________________________________________________

Two Years: ____________________________________________________

How You Will Learn


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Notes . . .

“Ground rules allow us to cover a lot of ground fast.”

GENE RIVERS KELLER WILLIAMS INTERNATIONAL MASTER FACULTY

How You Will Learn


17

Ground Rules

1. Arrive to class on time and return promptly from breaks.

2. Leave your cell phone ON. Set to vibrate!

3. Move quickly when you are instructed to form small groups or partner with someone to role-play.

4. Limit your side conversations.

5. Feel free to stand and walk around if you find yourself getting tired.

6. Respect the different learning styles and opinions of others.

7. Help each other learn because none of us is as smart as all of us working together to improve our skills and knowledge.

8. Consider everything we discuss confidential. What is discussed and role-played behind closed doors stays behind closed doors.

9. Have fun!

How You Will Learn


18

Notes . . .

“My thoughts before a big race are usually pretty simple. I tell myself: Get out of the blocks, run your race, stay relaxed. If you run your race, you'll win. Channel your energy. Focus.”

CARL LEWIS OLYMPIC GOLD MEDALIST


Get Focused

Why Buyers?

Working with buyers is so emotionally rewarding. I get to learn what their dreams are, what their needs are, and help them achieve their goals. When buyers walk out of a closing holding the keys to their new home, it’s a great feeling knowing I helped them make a dream come true.”

Heidi Fore 2007 REALTOR Magazine “30 under 30”

Louisville Kentucky

I love different buyers for different reasons . . . I love the first time buyer because through education and guidance I am able to help them plant the seeds of their financial future . . . I love the relocation buyer because I know how important my role is in helping them become acclimated to their new surroundings . . .I love to strategize with the move-up or move-down buyer and show them their options for creating wealth through residential real estate ownership . . . I could go on and on!

Terry Moerler 30 years experience working with buyers

Thousand Oaks, California

I love buyers. I’d rather have buyers than anything else in the world! We’re in a business where we make people’s dreams come true. How cool is that?

Annie O’Connell Agent

Albuquerque, New Mexico

Why do you love working with buyers?



Get Focused


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Notes

Insights from Buyer Mastery Seven Reasons to Go Big With Buyers 1. Working with Buyers is Relatively Inexpensive, Quick, and Easy 2. Buyers Are a Source of Quick Cash 3. Working with Buyers is Fun 4. Buyers can Sustain You in a Down Market 5. Buyers Create Future Business 6. Buyers Are a Good Source of Referrals 7. Buyers Want to Work with a Real Estate Agent

To read more on the Seven Reasons to Go Big with Buyers, see Buyer Mastery Guides, Introduction.

Get Focused


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What about YOU? 1. _____________________________________________________________

_____________________________________________________________

2. _____________________________________________________________

_____________________________________________________________

3. _____________________________________________________________

_____________________________________________________________

Get Focused


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Notes

“Only one who devotes himself to a cause with his whole strength and soul can be a true master. For this reason mastery demands all of a person.”

ALBERT EINSTEIN GENIUS

Get Focused


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Why You? One Buyer Master’s Story

ick Brash is a buyer master. He has carved out a formidable real estate business by focusing on buyers and developing the strategies, skills, and systems to work with them effectively.

Rick started out by focusing on converting leads. It took almost a year, but suddenly he started selling houses. How? By studying “like crazy” and learning systems to convert leads into appointments. He developed scripts and figured out what questions to ask to convert that lead into an appointment. His biggest Aha was realizing that instead of trying to sell the caller the house over the phone, he needed to go for a different goal—the chance to get together for a consultation.

What was the secret? “It is all about the message. The typical agent talks about himself, but your typical prospect is tuned into radio WIFM—What’s in It For Me? I let them know what I can do for them, like show them the best deals on the market—for example, distressed sales, foreclosures, and vacant properties. I also ask astute questions to show I care. I need to know; do they own and need to sell? Are they first time home buyers? When do they need to move, what is the actual timing? Are they investors? Those are the tools I used to get the appointment—and once I got the appointment, I always got the business!”

Rick takes a systematic approach to working with buyers in order to streamline the process. After many years of experience, he has developed a program that he follows consistently with each and every buyer. “My program helps people get in a home quickly and efficiently. I can’t customize a home search for everybody. They have to fit in the program, otherwise my time gets wasted.”

His buyer leads come from two sources: print and internet. His technique is a science that he has developed and tweaked—everything he does prompts his prospects to call for information, essentially raising their hands and indentifying themselves as being buyers. The print advertisements are designed to whet the consumer’s appetite, and on his internet sites, people are guided to identify themselves as being interested in something specific. “I prefer to speak to someone who has asked for help, rather than me calling and begging to help them.”

Thanks to his active lead conversion, and his time saving systems, today Rick’s business has grown to comfortable autopilot level. He is a Mega Agent, with two buyer agents, one listing specialist and one administration person. Together, they close over 100 transactions a year, with buyers representing 50 percent. Virtually every piece of the transaction is leveraged; his job is now to supervise and turn the lead into profits, spending the majority of his time on lead conversion so the business continues to grow.

R


Notes

For more on Lead Conversion:

Buyer Mastery Guides Step 1


Get the Appointment

Buyer Leads

Buyer leads come from many sources. What are they?

• _____________________

• _____________________

• _____________________

• _____________________

• _____________________

While your leads will originate from any of the above categories, you have one goal and one goal only:

Converting that lead into an appointment

Remember According to 2007 NAR statistics, 85 percent of buyers interviewed only

one, or at most two, of the agents they chose to work with!

What motivates most buyers to pick up the phone? Circle the correct answer.

1. They want to talk to you about your services

2. They want information about a property

Given that the vast majority of buyers are calling because they want to have information on a property, you will only have a few moments to capture their attention—and information. There are two tools to have at the ready: lead sheets and scripts.

Get the Appointment


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Notes

Insights from SHIFT “If you do lead generation but don’t get a name and number, what good is it? If you get a name and number, but can’t get an appointment what good are they? Aha! As important as lead generating activities are, if you can’t get a name, number and ultimately an appointment, what have you really accomplished? Without the ability to turn activities into leads and leads into appointments any lead generating activities you do are futile.”

“In other words, conversion matters.”

Get the Appointment


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Mastering Lead Conversion

To get appointments, become a master of lead conversion...

Your Tasks . . .

1. Analyze a lead sheet

2. Study scripts

3. Role Model—Watch a master demonstrate scripts

4. Role-Play—Practice scripts in class

5. Real-Play—Use your favorite scripts to call your leads and convert them to appointments

Get the Appointment


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Notes

Tip!

A lead sheet is only useful if you have one! Print them up as deskpads, keep a supply of lead sheets with you wherever you might get a call—in your office, your briefcase, at home—and have a small recorder handy so if you end up in a conversion call while driving, you can record the conversation!

Get the Appointment


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Lead Sheets

What are the benefits of using a Lead Sheet?

Review Lead Sheet Do you do anything differently?

Get the Appointment


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Notes

Truth Your lead sheet is the most effective tool you have to gather

information from your database.

Get the Appointment


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In-Town Buyer Lead Sheet

Date: _____________________ Lead Source: _____________________________

Buyer Consultation Prequalification Questions

CONTACT INFO Name Email Street Address Names of Children Home Phone Cell Phone Work Phone Fax What is the best way to get in touch with you? What times are best? Spouse Name Spouse Cell Phone

1. Already working with a buyer’s agent? ____________________________________ 2. Is this a single purchaser? Yes No If no, who else? __________________________ 3. People who will live in the house ________________________________________ 4. Length of time looking for a home _____________ See anything good? Yes No

If yes, description _______________________ If no, why not? ______________

Reason for not purchasing ____________________________________________ 5. Reason for move ____________________________________________________ 6. Current situation: rent or own? (circle one)

Renter: When is lease up? Owner: Need to sell existing home? Yes No

______________________________ If yes, working with a listing agent? Yes No

If yes, who? ________________________

Date/time for listing consultation ________ 7. Method of financing: cash or mortgage

Mortgage: Preapproved by a lender? Yes No

Preapproved: Lender’s name _______________________ Phone:__________

Mortgage amount ______________ Down payment amount ____________

Recommend lenders? Yes No If yes, who? __________________________ 8. Preferred price range _____________________ 9. Names and relationship of others involved in the home buying decision

_________________________________________________________________ 10. Level of motivation to buy: 1 2 3 4 5 6 7 8 9 10

Anything less than 10: What would it take to become a 10? _____________________

When do you need to be in your new home? _______________________________

11. Appointment date and time: ___________________________________________

Other information ___________________________________________________

Need for confidentiality _________________________________________________

Behavioral style: D I S C

Get the Appointment


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Notes

“I only sound intelligent when there is a good scriptwriter around.”

CHRISTIAN BALE ACTOR

Get the Appointment


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Scripts

What are the benefits of Scripts?

Get the Appointment


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Notes

Tip!

Tony Di Cello, Vice President of MAPS Coaching, recommends this technique for memorizing scripts on your own:

1. Stand up

2. Read the script outloud five times—fast!

3. Put the script down and repeat from memory

You’ll be surprised by how readily and naturally you’ll be able to recite the script!

Get the Appointment


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Role Model: Words That Work Familiarize yourself with these scripts as your instructor role models.

1. Get their Contact Information

Direct • By the way, I’m _________, who am I speaking to?

And your last name?

Indirect • Thank you so much for calling. That’s a great property. I’m going to put you on

hold for a moment while I pull the file. May I have your name and number just in case we get cut off?

• I just need a minute to finish another phone call. Can I please get your name and number so I can call you right back?

2. Keep the Conversation Going

Use the Answer & Ask technique to keep them talking.

• I’m calling about the house on 123 Main Street. How much does it cost?

That’s a great area. Is that the neighborhood you’re interested in? Yes Excellent. We’ve gotten a lot of calls on that property. It’s listed for______. Is that in your price range?

Get the Appointment


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3. Use Your Lead Sheet

There are common questions that most buyer agents would like answered during their initial contact with a prospect. Follow your lead sheet throughout the call to keep yourself on track as you ask questions about the following:

• What are you specifically looking for? What price range do you have in mind?

• I’m interested to know why you are buying. What’s prompting your move?

• What areas are you interested in?

• Who will be living in the home?

• Is there anyone else who will be involved in the decision making process?

• How soon are you looking to buy? In 30, 60 or 90 days?

4. Find out if they are already working with another agent

• Have you already seen any properties with a real estate agent? . . . No? Well, it would be my pleasure to help you find your perfect home, and I must tell you I operate a little differently. The way I prefer to work is to have you come into my office so we can pinpoint exactly what you are looking for in a house, and I can walk you through every step of the home buying process. Does this sound like something that could benefit you?

• What specifically was it about that house that caught your eye? … That is a great feature. I know of several houses with that feature, and I’d be happy to prepare a list for you of all the homes in this area with similar qualities. Are you already under contract with another agent? … In that case I would love the opportunity to meet you and talk.

5. Connect

• Back up and, if you would, please tell me a little about yourself?

• Thanks for sharing that. Now, if you would, can you share with me where you’re thinking of moving?

• Thanks for sharing that. Now, if you would, can you share with me why you’re doing this?

• What will this move mean to you?

• Thanks for sharing that. Now, if you would, can you please share with me what you’ve already done to plan for this?

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6. Close for the Appointment

Demonstrate your Value • It sounds like the best thing we can do to save you both time and money is to set

up an appointment for you to come into the office so we can review the information on school reports and tax records on this and other similar properties.

First time home buyers • As you can see, there’s so much to consider when buying your home…who your

home inspector is going to be, and what to do when you get inspection results different from what you expected. What are the taxes and can they be appealed? It sounds like the best thing to do is to sit down for thirty minutes so we can design the best program for you that we can. We’ll make sure you are qualified by a reputable lender so both you and I know exactly how much money you can afford and then put together a plan to find that home. Then I go to work to negotiate on your behalf so you get that home at the best possible value.

Use teasers • We specialize in finding really good deals, in bank-owned properties, foreclosures,

short sales. Are you interested in a good deal like that? … Great, I’ll prepare a list of the five best priced properties in our area I consider the most interesting, and if any of them turn out to be something you like, we can hop in the car and go see them right away. Are you available tomorrow at 5:00 or Wednesday at 2:00?

Gary Keller’s Ten Closes That Work! 1. The Hard Close: Let’s meet! 2. The Soft Close: I’ve really enjoyed visiting with you. Would you like to get

together to discuss this further? 3. The Direct Close: Can we meet today? 4. The Indirect Close: Would it be okay if I got you some information to look over

and then we can meet to discuss? 5. The Trial Close: Have we gone over enough today that meeting would be our

next step? 6. The Assumptive Close: It sounds like we should meet. I am available most times

this week so what works best for you?

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7. The Negative-Positive Close: Would you be offended if I asked if we could meet to go over this?

8. The Take Back Close: I’ve really enjoyed visiting with you. To be honest, I’m not sure if I can be of help or not, but I’d be honored if we could meet to find out.

9. The Tie Down Close: Wouldn’t it make sense to meet in the next day or so?

10. The Alternative Choice Close: What works better for you? Meeting today, sometime this afternoon, or tomorrow morning?

More Scripts!

One script does not fit all. There are some you will use to tailor your response to the specific caller.

1. Calls from the Internet

One of the reasons people use the internet is to get information fast. When someone registers on your website with a phone number, your number one priority is to call them back as quickly as possible, before they move onto the next site.

• Hi, this is _________ from Keller Williams Realty. I am responding to your request for information on the property at __________. Thanks for the inquiry. What can I tell you about the property? What specifically caught your eye? That’s a great feature. There are several other homes in that neighborhood like that. I would love the opportunity to meet you and go over them with you. Could you come to the office tomorrow at ______ or Thursday at _______?

2. Asking about Financing

• Are you already working with a lender? If not, I can recommend several lenders who are competitive and can deliver what they promise.*

• Will you be paying cash or getting a mortgage for the purchase of your home?

• Have you been preapproved for a mortgage yet?

* Be sure you always recommend more than one lender or you may be liable if there are problems with the transaction.

Get the Appointment


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3. Rent vs. Own

Depending on whether your prospects are renting or own their current property, the conversation will go in different directions. They Rent

• __________, quick question. Do you own the place where you are living now or are you renting?

When is your lease up?

Then it’s not too soon to start looking. It can often take a while to find a house, complete the purchase, and get you your keys!

They Own • Have you talked with an agent about selling your current home? … Oh, you

haven’t. Well, when is the last time anyone did a Comparative Market Analysis on your home? I would love to be able to prepare one of those for you so you know the true market value of your home on today’s market. Otherwise you risk finding a home you fall in love with and can’t buy because your current home still needs to be put on the market. What time would be better, tomorrow at _______ or Thursday at _______?

4. Referral Calls

Calling your database Are you thinking of selling your home? Do you know someone who is? You do?

By the way, don’t just give my name to them. Tell me how to contact them. Can you give me their name and e-mail address or phone number?

I promise to keep you posted on how I’m working with them and what is happening in their search for a home.

I know I’ll enjoy working with them. If they’re friends of yours I know they’ll be a lot like you.

Calling the referral • Hi ______, this is ________ from Keller Williams Realty. I got your name

from______. I helped them in their home search, and they told me that you are also in the home buying process right now. If you are not currently using an agent, your friend thought I might be able to help you as well.

Get the Appointment


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Notes

Insights from SHIFT “So it’s time for closure. You’ve gotten a name and contact information, you’ve successfully connected with them, and now there is only one thing left to do—meet. So, whose job is it to make that happen? Yours or theirs? The real estate agent or the prospect? It’s yours, but the way some approach it, you honestly wouldn’t know. Some think it happens naturally without doing anything. On the other hand, some act as if that’s all they care about. Both fall short. The right approach to close for a meeting is the only approach—just ask. Ask to meet, ask when to meet, ask where to meet, ask if you should, could, want or must meet. Yes, yes, yes, yes, yes, yes, and yes. Just ask. Get it? Nothing is going to happen if you don’t ask. If it does, it’s pure luck and that’s no way to run a business. Truthfully, if you’ve gotten their name and number and you’ve genuinely connected with them, then asking to meet is a natural thing to do. In fact, they expect it and want it. People want to buy, but hate to be sold. People want to make the right decision and they fear being talked into the wrong one. People want help, but hate to ask for it. So, you have to help them out. You have to ask for them. They want and need you to be in charge in a caring way.”

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Add Your Own

Share one or two other scripts that you have used successfully.

Make a note of your favorites.

Best of Class

1. __________________________________________________________

__________________________________________________________

__________________________________________________________

2. __________________________________________________________

__________________________________________________________

__________________________________________________________

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Notes

att Fetick, a growth level agent in West Chester Pennsylvania, is passionate about models. “My success as an agent is directly linked to following the Keller Williams model. The best advice I can offer anyone is to follow the model to a

‘T.’ Take advantage of every seminar, every tool. Encompass that into everything you do. Don’t break the rules once.”

Matt was the perfect choice to take on the lead role in the Buyer Mastery videos. He is a firm believer in scripts and the power of role-play. “Every morning at 8:00, my team meets for a huddle. We practice our scripts, we role-play, and we watch something on KWConnect or Agent Mountain.”

Matt’s commitment to practice has made the difference—in his first two years with Keller Williams, he saw his sales double. Now in his fourth year, he doesn’t think his success is really that surprising. “It’s the payoff for following the system and the model.”

M

Get the Appointment


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Role Model Watch a master in action in Lead Conversion with Buyers

Discussion Questions

1. Which scripts do you think were the most effective? Why?

_______________________________________________

_______________________________________________

_______________________________________________

_______________________________________________

2. Which scripts will you incorporate into your business?

_______________________________________________

_______________________________________________

_______________________________________________

_______________________________________________

Role-Play Turning Theory into Practice

1. Pick a few of the best scripts you have learned today.

2. Team up with anyone in the room. Take turns practicing on each other. Conduct a call from the buyer’s call to closing for an appointment.

How did that go?

Are you feeling confident?

Get ready to try out your new scripts in the real world.

Get the Appointment


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Notes

“When you are not practicing, remember, someone somewhere is practicing, and when you meet him he will win.”

ED MACAULEY BASKETBALL PLAYER, ST. LOUIS BOMBERS

HALL OF FAME 1960

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Real-Play Channel this morning’s energy—and your favorite new script—into appointments!

Target Your Prospects 1. Take a moment to look at the names you are going to call.

2. Categorize your leads by source or type.

3. Choose the script(s) from this workshop—or others you know and love—that you feel will match best with each lead.

4. Fill in your call sheet on page 49 with the above information.

1. Prep Your Calls

Take this opportunity to practice the dialogues you will use in your call with your prospects today.

You might want to test a new script in this safe environment. Stretch yourself and see what happens!

Get the Appointment


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Notes

“America’s best buy is a telephone call to the right person.”

ILKA CHASE AUTHOR, ACTRESS

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Buyer Mastery Call Sheet

CALL SHEET

Name and Number Script Reminder –brief note– Result and Follow-Up

1.

2.

3.

4.

5.

6.

7.

8.

9.

10.

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Notes . . .

“Just Do It.” NIKE

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2. Real-Play the Calls Start dialing! Make as many calls as you can, and set as many appointments as possible. Use the call sheet on the next page to track your calls. Time: 20 minutes to make as many calls as you can!

Arm yourself with these tools

• Completed call sheet

• Lead sheet (Extra copies are in the Appendix)

• Cell phone

• Day planner

Keep these suggestions in mind as you dial

• Clear your mind.

• Say an affirmation out loud or think about the dollar value of this call.

• Speak in a positive, upbeat voice.

• Ask questions. Drill down to get the answers you need to hear.

You’ve gone from theory to practice…now it’s time to get down to business.

H e l l o ! H e l l o !

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Notes

“Excellence is the unlimited ability to improve the quality of what you have to offer.”

RICK PITINO COACH

THREE TIME NCAA CHAMPIONSHIP WINNER

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Share Your Experiences

What went right?

What were the challenges?

How can you power through the challenges next time?

Get the Appointment


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Notes

Get the Appointment


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Conversion Rates How many calls did you make? Refer to your call sheet and fill in the table below.

Category Count

No answer

Left message—no call back

Left message—got call back

Conversation, but no appointment

Appointment

TOTAL number of calls made

My Conversion Goals

What is the conversion rate from number of calls to appointments set today?

What is your average conversion rate from number of calls to appointments set?

Based on what you learned today, what conversion goals should you set for yourself?

It’s Not Over Till It’s Over . . .

Don’t stop making appointment setting calls just because the time is up. Carry on calling at lunch or during the afternoon break if you have any leads you didn’t get to, or you have a chance to do some follow-up.

At the end of the day, we’ll tally the final number of calls made, scripts used, and appointments set!

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Notes

Tip! Coaching has been proven to be a wise business investment. According to the International Personnel Management Association, when coaching is paired with training, it can raise productivity up to 400 percent.

The MAPS Institute program is designed to promote personal growth and career development based on the idea, “Everyone needs to be accountable to someone. No one succeeds alone." To support this core Keller Williams Realty belief, MAPS offers a large variety of coaching programs to meet the needs of all KW associates.

A MAPS coach will push you through your limiting beliefs to discover the power of your true potential.

Visit www.mapsinsitute.com to find the MAPS coaching program that will best suit your needs. Do so and you could see your Gross Commission Income climb as much as 423 percent higher than non-MAPS clients—that’s what happened to agents in MAPS coaching programs in 2007!

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Aha’s and Action Plan _____________________________________________________________________

_____________________________________________________________________

_____________________________________________________________________

ACTION PLAN

Challenge Rate 1– 5 Take It Up a Notch!

1. I use a lead sheet regularly.

Refer to Buyer Mastery Guides, Step 1, Leads to Appointments, Connect

2. I connect with my prospects by asking them questions based on who, what, when, where, and why.

Refer to Buyer Mastery Guides, Step 1, Leads to Appointments Connect

3. I am familiar with more than one way to close, and close throughout the conversation.

Refer to Buyer Mastery Guides, Step 1, Leads to Appointments, Close

4. I have an arsenal of scripts to use with different types of buyers.

Refer to Buyer Mastery Guides, Step 1, Leads to Appointments, Different Buyers, Different Approaches

5. I track my conversion rates on a regular basis.

6. I use my conversion rates to help me stay on track to reach my goals.

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Notes

Insights from Lead Generation 36:12:3 The Power of One

“In 1897, while studying patterns of wealth and income in 19th century England, Italian economist Vilfredo Pareto (1848-1923) discovered the pattern commonly referred to as “the 80/20 Principle.” This principle states that predictably 80 percent of our results will come from 20 percent of our actions. The 80/20 principle feels a bit unnatural to us. Instinctively, we believe we should focus our energy on at least 80 percent of our activities to yield the greatest results. The more effort on things, the greater the results, right? Wrong! When we are focused on the 80 percent that doesn’t matter, we tend to get only 20 percent of the results we want. The key is to focus on our most important 20 percent.”

To read more about the Power of One, see Lead Generation 36:12:3, Introduction

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Prioritize Your 20 Percent Look back at your Action Plan.

What’s in your 20 percent?

Prioritize the challenges you must master to achieve your goals.

My 20 Percent

1. ________________________________________________________

How? _____________________________________________________ With Whom? _______________________________________________ Using What Resources? ________________________________________

2. ________________________________________________________


3. _______________________________________________________

How? ____________________________________________________ With Whom? ______________________________________________ Using What Resources? _______________________________________


Notes

For more on Objections:

Buyer Mastery Guides Steps 2, 3, and 4


Objections

Objections are a part of life for a real estate agent. Learn how to handle them with confidence and you will help facilitate the buying process. Remember, objections are a known animal— top agents concur that, over time, they hear the same basic objections over and over again.

Master them by identifying the most common, learning the scripts to handle them, and practicing those scripts until they are a seamless part of your repertoire.

Handling Objections What are some techniques for handling objections?

• Your first response to every objection should be to relax—remember objections are buying signals. They are an opportunity to overcome a barrier to making a purchase decision

What else?

•

•

•

•

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Notes

Tip!

Use questions to take control of the conversation, but use them strategically. Think like a master billiards player. To win the game they have to sink the eight ball, and every shot they take is carefully thought through in advance to get them to that goal, one shot at a time. To get your own conversational eight balls in the corner pocket, plan and execute your questions with the same forethought.

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Give examples of how you can handle objections by using the A E I O U technique:

1. Ask Questions

2. Empathize

3. Identify the real issue

4. Offer a solution

5. Urge an agreement

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Notes

Truth Objections are buying signals.

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Mastering Objections

Your Tasks . . .

1. Identify the objections you hear most often

2. Brainstorm replies with your instructor and classmates

3. Role Model—Watch a master in action

4. Role-play—Practice with a partner

Let’s take on your most feared objections!

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Notes

Tip! Keep an objections playbook. Block time to learn the scripts that will handle them effectively, and practice these scripts regularly.

Martin Bouma Mega Agent

Ann Arbor, Michigan

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Key Objections List the key objections you encounter regularly with buyers.

ONLY note your objections—you’ll fill in the responses later.

OBJECTION HANDLING MAP

Objection Response

1.

2.

3.

4.

5.

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Notes

Tip!

Any time you successfully handle a strongly held objection, it’s a great time to go for a close—to get the appointment or to get the listing. It’s a natural follow up to the high confidence moment you have just created with the buyer.

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OBJECTION HANDLING MAP

Objection Response

6.

7.

8.

9.

10.

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Notes

Objections


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Role-Model: Words That Work—Common Objections As your instructor role models, familiarize yourself with scripts for some of the most common categories of buyer objections

1. Buyers don’t want to meet for a consultation.

• Well, I appreciate that and I understand your concern, but I must tell you, I operate differently! Before I can satisfy your need in your next home, I must first identify those needs and that process is done in my office. Doesn’t it make more sense to spend an hour together uncovering your needs that spending hours driving around looking at homes, hoping to stumble on the perfect one?

• I’d be happy to show you the house you are calling about, but I must tell you, I operate a little differently! You see, I am not like most agents who will waste your time by showing you just one house in the hopes that this is the only one you are interested in seeing. If you chose to work with me, we are going to take a proactive approach which will virtually assure you of seeing what you want and wanting what you see! This process starts in my office. Does that make sense?

2. Buyers don’t want to sign the representation agreement.

• I understand your concerns. When buyers sign an agreement with me, I give these customers 100 percent of my loyalty, and that has many benefits. For example, my committed buyers are notified first when I hear about properties that have not yet hit the market. Loyalty to me is what I ask for in return.

• I understand that we are in the process of interviewing each other to make sure we have a good fit and sometimes that means we need to spend a little time together. I’d be happy to meet with you just once to look at properties before you sign. Why don’t you take the agreement home and read it over. If you are comfortable signing with me after our first tour, you will give it back to me then.

3. Buyers are reluctant to buy.

Buyers want to sleep on it.

• I understand that this is a very big decision. You may just be experiencing buyer’s remorse in advance. It’s natural to second-guess big decisions. I’ll tell you what. Let’s write the offer now so you have the best chance of getting this house that you really like. If you change your mind before the seller responds, we can withdraw the offer. If the offer is accepted, you’ve got a great home and you have the option period to think it through further. How does that sound?

Buyers are afraid of making a bad decision.

• I understand how you feel. Many homeowners once felt that way, and what they found is that there is no such thing as a perfect house. Houses age and things can go wrong. What we will do is have an inspector conduct a thorough examination of this house. He’s the expert and he’ll give you a detailed list of all his findings. If he uncovers any real issues, we’ll negotiate for repairs or you can decide that you don’t want the house and walk away at that time. Do you feel comfortable with that?

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Bruce Hardie, Mega Agent in Spokane, Washington, has come a long way since he left his native Australia and started his real estate career. Although he was new to the U.S.A. and had no prior experience, his systematic and thorough approach put Bruce at the top of the real estate game—and has kept him there for over fourteen years. In 2007 Bruce and his team closed 101 transactions, resulting in $27,587,600 in sales.

Bruce attributes much of his success to a solid foundation. He had a slow start—taking nine months to close his first deal—but he spent his rookie year learning everything he could about the business and doing a lot of role-playing with his broker. “My broker would give me situations, and we’d practice purchase agreements, writing offers, and presenting the offers. I wrote fifty practice offers before I wrote my first real offer.”

Learning still plays a large part in his success. Now part of KWU’s International Master Faculty, Bruce dedicates four to six weeks a year toward education, meeting with other mega agents for regular mastermind sessions and attending conferences as both a student and highly requested instructor.

Role Model Watch Bruce Hardie, a master in action, as he answers objections from buyers.

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1. Did Bruce respond to any of the objections you noted before? Use your objection handling map on the previous page to capture any responses to your personal objections that Bruce covered in the video.

2. Add any objections you found useful to the map.

Brainstorm Continue to build your objection handling map.

Complete your map by filling in replies to any of the objections Bruce did not cover—brainstorm with your classmates and your instructor to come up with winning responses!

Time: 15 minutes to share and gather the objection responses that work for you!

Role-Play With your objection map in hand, turn to the person sitting next to you and swap your workbooks.

Take turns following these steps

1. Give your partner an objection from their list.

2. Listen to their response.

3. Compare it to their answer on the objection handling map.

4. Help and prompt them as necessary!

Once you get your workbook back, map out any new objections and responses that you learned on your objection handling map.

Time: 10 minutes for some active practice!

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Notes

“First ask yourself: What is the worst that can happen? Then prepare to accept it. Then proceed to improve on the worst.”

DALE CARNEGIE AUTHOR, HOW TO WIN FRIENDS AND INFLUENCE PEOPLE

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Share Your Experiences

What went right?


How can you power through the challenges next time?

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Notes

Coach’s Corner

Study one subject for one hour per day and in five years you will master it.

Coaching Question:

What will you study for an hour a day? When will you begin?

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_____________________________________________________________________

_____________________________________________________________________

Action Plan


1. I keep the AEIOU technique in mind as a tool for handling objections.

Refer to Buyer Mastery Guides, Step 3, The Buyer Consultation, Setting Service Expectations

2. My most feared scripts have been identified, and I regularly practice scripts to become more confident.

3. I have one or more accountable script practice partners who practice with me on a regular basis.

4. I classify objections according to the task—appointment setting, signing the buyer’s representation agreement, and finding the home.

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Notes

Insights from Lead Generation 36:12:3 The Power of One

“When applied to mastery and success, the 80/20 Principle can accurately be restated as the “Principle of Greatest Leverage.” Simply put, it means that you can leverage your time to yield the highest productivity by spending that time disproportionately (yet, strategically!) on only a few key actions. Unless powerfully focused on the 20 percent that really matters and moves your business forward, your time and effort will rarely lead yield powerful results. In fact, there is a huge price we all pay in our business and in our lives when we do not apply the Principle of Greatest Leverage. The price? We work harder and longer to achieve less of what we want or deserve. History has proven that no matter what your goal, not all activities around it are equally important. Some are pivotal and must be done. When you focus on what really matters, your chances of success increase significantly.”


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My 20 Percent

1. ________________________________________________________


2. ________________________________________________________


3. _______________________________________________________



Notes

For more on the Buyer Consultation:



Conduct a Thorough Buyer Consultation

At the heart of buyer mastery lies the buyer consultation. It is the best opportunity you have to establish rapport, uncover your buyer’s needs and wants, and lay the foundation for a successful working relationship.

Our biggest asset as real estate agents is our time. A thorough buyer consultation will ensure that you are showing homes in the right price range, right area, perfect square footage, and only to loyal prequalified buyers.

Ben Kinney 2008 REALTOR® Magazine “30 under 30”

Bellingham, Washington

Buyers think they know what they want, but it’s only when they start talking that you can discover what that truly is. The in-office visit with buyers is so important because you can watch their body language and see when their eyes sparkle and their faces light up—that’s when you know what they’re looking for in their hearts.

Betsy Scheffe Productivity Coach

Austin, Texas

To be on same page as my buyers, we need to sit down and figure out exactly what they need, how much they can afford and how we can make that project work. I follow the same model as a doctor before he makes a diagnosis or an accountant before he figures taxes. I am as professional as they are.

Rick Brash Mega Agent

Calgary, Canada

Why do you do a thorough buyer’s consultation?





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Notes

Insights from Buyer Mastery “At the heart of buyer mastery lies the buyer consultation. It is the best opportunity you have to establish rapport, uncover your buyers’ wants and needs, and lay the foundation for a successful working relationship. Do it right, and you will close more buyers, in less time, and with less hassle for both you and your buyers! Don’t do it right—or, heaven forbid, skip it all together—and you will spend more of your time closing fewer transactions.”

To read more on the buyer consultation, see Buyer Mastery Guides, Step 3: Buyer Consultation



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What about YOU? What happens when you do a buyer’s consultation?

Positive outcomes _________________________________________________________

_________________________________________________________

_________________________________________________________

What happens when you don’t do a buyer’s consultation?

Negative outcomes _________________________________________________________

_________________________________________________________

_________________________________________________________



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Notes

Truth The more time you spend asking about the buyers’ needs and wants,

the less time you’ll spend showing houses.



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Buyer Consultation Time Blocks 1. Set the Stage

When done properly, your buyer’s consultation will take approximately one hour. The time block model gives an indication of the time you should devote to each part, as well as the proportion of speaking vs. listening in each part. re Your UVP 4. Your Buyers 2. Do the Needs Analysis 5. Set Service Expectations 6. Close for the Agreement 7. Establish Next Steps

What part of the consultation takes the most time? _________________________

Why? ____________________________________________________________



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Notes

“A good listener truly wants to know the speaker.”

JOHN MARSHALL SUPREME COURT JUDGE



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Speaking vs. Listening When should you be doing most of the speaking, and when should you be doing most of the listening during the buyer consultation? Circle speak and/or listen below.

1. Set the Stage Speak Listen

2. Do the Needs Analysis Speak Listen

3. Share Your VP Speak Listen

4. Educate Your Buyers Speak Listen

5. Set Service Expectations Speak Listen

6. Close for the Agreement Speak Listen

7. Establish Next Steps Speak Listen



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Notes

“Every time we have a rough deal, all I have to ask my buyer agent is, ‘Did you have them in for a consultation?’ And every single time it’s, ‘No, I didn’t.’”

BRAD KORN THE BRAD KORN TEAM KANSAS CITY MISSOURI



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Mastering the Buyer Consultation

Your Tasks . . .

1. Drill down—learn what to do and say in each of the seven parts of the buyer consultation

2. Role Model—Watch a master in action

3. Role-play—Practice with a partner

4. Evaluate your performance

Get ready to master the buyer’s consultation— right here, right now .



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Notes



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Part 1—Set the Stage

Cover All Your Bases Draw a line from the action you will take to its description.

Action Description

1. Welcome buyers, tour your office, make buyers comfortable, and build rapport.

a. One or two sentences that get right to the heart of what your purpose is today—help the buyers achieve their goals.

2. Turn off cell phones.

b. Welcome buyers at the entrance to the office. Do a quick power walk to demonstrate all of the backup support that is available. If you charge a transaction fee, the power walk is a good opportunity for buyers to see the behind-the-scene services that the fee supports—a receptionist at your Market Center, your assistant, or a transaction coordinator.. Do not mention the fee this early, but when you bring it up later you can remind your buyers of the people they saw when they arrived.

3. Explain your mission.

c. The buyer will hire you.

The buyer won’t understand your benefits and will choose not to hire you.

You will choose not to represent the buyer

4. Explain the three possible outcomes of the consultation.

d. Explain that from here on out, it is all about them—what they want and need in a home and what they can expect from you.

5. Transition on a high note.

f. Let your buyers know that you have a lot to cover and you don't want any distractions. They'll appreciate your undivided attention and when they see you turn your cell phone off, hopefully they'll do the same thing.



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Notes

“When you can do the common things of life in an uncommon way, you will command the attention of the world.”

GEORGE WASHINGTON CARVER FREED SLAVE, EDUCATOR



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Role Model: Words That Work—Set the Stage Familiarize yourself with the following scripts as your instructor role models.

1. Welcome, establish rapport

Use any of the scripts below as you welcome buyers to the office and set the tone for the consultation.

• Hello, Mr./Ms. Buyer, it’s a pleasure to meet you. Did you have any trouble finding the office?

• Let me just give you a quick tour of the office…

• Can I get you something to drink?

2. Turn off cell phones

I’m going to turn off my cell phone so we don’t have any interruptions.

3. Purpose of the meeting and your mission

Use any of the scripts below as you explain the purpose of the consultation and what you will do for your buyers.

• Today’s meeting is all about you. The purpose of our meeting is for me to thoroughly understand your wants and needs so we can find your ideal home.

• My job today is to find out what kind of home will suit your lifestyle, your needs, and your wants. I’ll educate you on the whole home buying process, answer all of your questions, and then find out if this is something you want to pursue.

• I have a process that I use with all of my clients. Before we get into the car, we’re going to define your ideal home, make sure that it meets your financial needs, and then thoroughly discuss our expectations and roles in this relationship.

• My mission is to find a house the meets your needs and is within your budget. We’ll do that with the least amount of hassle and get you in your new home when you need to be there. How does that sound?

• My mission is to help you achieve your goals and exceed your expectations.

4. Explain the three possible outcomes of the consultation

I want to help you achieve your goals and exceed your expectations, so you will never, ever hesitate to refer me to family, friends, or co-workers. Therefore, at the end of today’s meeting, one of three things is going to happen. One, you're going to understand all the benefits that I can provide to you, and you're going to choose to hire me. And that would be great. Two, you may not understand all the benefits that I can provide to you, and you may choose not to hire me. And to be quite honest, that wouldn't be so great. Or three, I may choose not to represent you in the purchase of your next home if I feel I cannot provide the level of service that will meet or exceed your expectations.



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5. Transition on a high note

Use any of the scripts below as you transition into the needs analysis.

• From here on out, it is all about you—what you want and need to find in a home and what you can expect from me.

• Mr./Ms. Buyer, are you ready to switch gears and talk about the home you want?

Yes I’m going to be asking a lot of questions in order to develop a clear understanding of what you need and want in your next home. That way, I won’t waste your time by taking you to see properties that don’t suit you. How does that sound?

• I can’t be the answer to your prayers until I know what you are praying for.

Add Your Own As a group, share any other scripts you have used successfully. Write down your favorites!

Best in Class

1. __________________________________________________________

__________________________________________________________

__________________________________________________________

2. __________________________________________________________

__________________________________________________________

__________________________________________________________



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Role Model—Set the Stage Watch a master-in-action in The Buyer Consultation, Part 1—Set the Stage.


1. Why is it important to use FORD?

2. Why did Matt introduce his receptionist and transaction coordinator?

3. What transition technique did Matt use to get down to business after their casual conversation?



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Notes

What to Keep in Mind 1. Demonstrate that you are courteous and professional.

2. Use the buyers' names.

3. Build rapport by asking about something you discussed on the phone or ask questions related to Family, Occupation, Recreation, or Dreams.

4. Keep this stage of the meeting very brief.

5. You are guiding the conversation and you do most of the talking.



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Role-Play—Set the Stage It’s your turn to step up to the plate! • With a partner, take turns role-playing this part.

Refer back to Words that Work and circle the scripts you want to use. • Begin building your buyer consultation by practicing each of the following

actions on your checklist. Check off as you complete them, or give your partner your workbook and have them check off the points you cover! Time: 5 Minutes to nail this part of the Buyer Consultation!

Buyer Consultation Part 1—Set the Stage

Checklist

Welcome buyers, establish rapport. Turn off cell phones. Explain your mission. Explain the three possible outcomes of the meeting. Transition on a high note.



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Notes

Truth People don't care how much you know until they

know how much you care.



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Part 2—Do the Needs Analysis


Action Description

1. Work from broad to narrow questions.

a. Buyers won’t buy if something is bothering them, but they generally won’t tell you what their fears are. It is your job to figure out what those problems are, offer assurance and help them overcome the obstacles. If you are working with a couple, make sure to hear from both.

2. Dig three levels deep with your questions.

b. Start out asking about the buyers' lifestyle—how they spend their time at home and what they see themselves doing in the future. Then ask general questions about the home and move into specific details about likes, dislikes, wants, and needs. For example, you might start out by finding out how they spend their time at home. “Do you like to entertain?” If they say yes, ask some general questions about the house. “Do you entertain in the dining room, the living room, or the kitchen?” Once you have a general picture, you can get specific. “Do you want a large kitchen with a bar?”

3. Ask about fears and anxieties, related to buying a home.

c. Ideally, you’ll be meeting with buyers who are preapproved for a mortgage or can verify the funds available for the home purchase. However, there are instances when time is crunched and you need to meet with a buyer before they talk with a lender. You could also ask a lender to meet with the buyer at your office prior to starting your consultation, or ask your lender to be on call so they can prequalify your buyers over the phone.

4. Verify Financing.

d. Use a Buyer Consultation Questionnaire to keep you on track as you probe to find the meaning behind what the buyer tells you. (Sample in Appendix) For example, if a buyer says they want a large back yard, you might ask, “How big is a big yard?” “What does that look like to you?” “Why is that important for you?” When you get these answers you will have a better understanding of your buyer’s needs, and will be able to recommend more options and creative solutions.



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Notes

“You should write down everything buyers say because it shows you care.”

RON KUBEK KELLER WILLIAMS REALTY WEST, BRITISH COLUMBIA



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Role Model: Words That Work—Do the Needs Analysis Familiarize yourself with the following scripts as your instructor role models.

1. Work from broad to narrow questions.

Broad questions about the house your potential customers want to buy.

• Let me ask you to picture yourselves four months down the road, after you’ve moved into your new home. You’re no longer looking at properties, you’re finished unpacking, and you’re completely settled. The pressure is off. Please describe your new home for me.

• Mr. and Mrs. Buyer, you each get to have three MUST haves in your new home. Now I know there are many things you would like to have, but you must focus on just three each and these are the MUST haves. We can add the LIKE to haves later.

* Ask this question of each buyer. One partner cannot say what the other said. It is important for each person to express what is important to them.

Working from broad to narrow questions.

• Do you like to entertain?

Do you like to entertain formally, say in the dining room, or informally, in the kitchen or yard?

What features does your kitchen have to have so you can comfortably entertain there?

What size should the kitchen be?

2. Dig three levels deep with your questions.

• On a scale from 1 to 10, with 1 being not what you want at all and 10 being the perfect house, what one thing does your new house have to have for it to be a 10?

Why is that important to you?

Can you describe what that looks like to you?

• You say you would like a big yard. How big is big?

What are your plans for the big yard?

Why is that important to you?

• What exactly do you mean by _____? (e.g. large kitchen, privacy, nice view)

What do you get when you have _____? (e.g. big kitchen, privacy, nice view)

What does having that do for you?



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3. Ask about fears, anxieties, and uncertainties related to buying a home.

• Is there anything about the home-buying process that you are unsure about?

• Is there anything about the home-buying process that scares you?

• Do you have any concerns you would like to share with me?

* If you are working with a couple, make sure you hear from both people.


Buyer has their own lender

• Have you been preapproved for a certain amount?

• I often suggest getting a second lender as a backup in case anything falls through with your first lender.

Buyer has not spoken with a lender

• I can recommend two or even three lenders that I know will do a great job for you.

• Would you be offended if I have a few lenders I recommend give you a call? I would hate for you to start looking at houses, fall in love with one of them and then lose it because you don’t get approved for that amount.

• Would you be offended if I have a few lenders I recommend give you a call? I would hate for you to start looking at houses, fall in love with one of them and then lose it because the sellers accept an offer from a preapproved buyer.

“Make your buyer prequalification and consultation time count.”

GARY KELLER SHIFT



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Best in Class 1. __________________________________________________________

__________________________________________________________

__________________________________________________________

2. __________________________________________________________

__________________________________________________________

__________________________________________________________

Role Model Watch a master in action in The Buyer Consultation, Part 2—Do the Needs Analysis.


1. Uncovering Needs, Wants, and Values.

How does Matt handle the objection his buyers bring up?

2. Ask about Fears and Anxieties.

Why is it important to ask about fears and anxieties as soon as possible?


How does Matt handle the objection his buyers bring up?



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Notes

What to Keep in Mind 1. Buyers do most of the talking in this part. You ask questions.

2. Buyers are often not clear on what they want. Your questions help them figure out what they are looking for.

3. The Buyer Consultation Questionnaire contains the preliminary questions you ask about each item. Follow each question with deeper probing.

4. Ask open-ended questions. For example, How would you like a pool? vs. Do you want a pool? Open-ended questions encourage people to open up and talk, rather than answer with a simple yes, or no.



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Role-Play—Do the Needs Analysis It’s your turn to step up to the plate! • With a partner, take turns role-playing this part. Refer back to Words that Work and

circle the scripts you want to use. • Use the Buyer Questionnaire in the Appendix to guide your questions’ • Begin building your buyer consultation by practicing each of the following actions on

your checklist. Check off as you complete them, or give your partner your workbook and have them check off the points you cover! Time: 10 Minutes to nail this part of the Buyer Consultation!

Buyer Consultation Part 2—Do the Needs Analysis

Checklist

Work from broad to narrow questions.

Dig three levels deep with your questions.

Ask about fears, anxieties, and uncertainties related to buying a home. Verify financing.



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Notes

Insights from The Millionaire Real Estate Agent “Top real estate agents always have a clear understanding of why they should be hired and they are able to articulate it to anyone at anytime. For buyers, their goal is to find them just the right home, at the best price, in the right time, with the least amount of problems. Great service begins with a clear purpose for why someone should work with you.”



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Part 3—Share Your Value Proposition

Why Should You Have a Value Proposition?



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Notes

Truth You are a real estate professional. You are wholly qualified to

competently handle a real estate transaction, deliver superior customer service, and give your customers professional, life-changing advice.

Your real estate experience thus far, plus your professional history, no matter what it is, make you uniquely competent for this job.

So, have you told the world?

To learn more about Value Propositions, read Lead Generation 36:12:3: Power Session 1, Building Validity and Positioning



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Role-Play: Words That Work—Share Your Value Proposition Familiarize yourself with the following VPs as your instructor role models.

1. Transition

Let’s shift gears for a minute and talk a little bit about me and how I work.

2. Examples of Unique Value Propositions

• I will work to get you the house that you want, on terms that you are comfortable with, and I will always represent your best interest.

• My job is to be an advisor as you go through the home buying process. I help buyers all the time so I know all the details of the purchase process. I know the market and will keep you well informed. When we find the house that you want, I will do a comprehensive market analysis for you and I will negotiate the best possible deal. I will be here for you every step of the way.

• My buyers find a house in less time than people who work with other real estate agents. They pay less money for their houses because I know the market statistics. I know the market very, very well. I know how long properties have been on the market. If you tell me about a home that you want to see, chances are, I've seen it. I'm really good at this.

Role Model Watch a master in action in The Buyer Consultation, Part 3—Share Your Value Proposition.

Discussion Question

How does Matt present his VP in terms of benefits?



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Notes

What to Keep in Mind 1. The most memorable messages are brief.

2. Home buyers are becoming increasingly knowledgeable due to use of the Internet. They have high expectations for the knowledge and service they receive from a real estate agent.



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Role-Play—Share Your Value Proposition Create a new Value Proposition or upgrade your existing Value Proposition. Stand up and share it with the group!

What is Your Value Proposition?

Did you hear any great Value Propositions you liked? Write down your favorites!

Best in Class

1. __________________________________________________________

__________________________________________________________

__________________________________________________________

2. __________________________________________________________

__________________________________________________________

__________________________________________________________



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Notes

“If you are planning for a year, sow rice; if you are planning for a decade, plant trees; if you are planning for a lifetime, educate people.”

CHINESE PROVERB



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Part 4—Educate Your Buyers


Action Description

1. Explain current market conditions.

a. Explain to buyers that you do a CMA before they make an offer. That provides them with the knowledge to make a well-informed offer. Beyond that, you negotiate in the buyers' best interest. Finally, you diligently check on the multitude of things that need to get done in order for them to get to closing.

2. Set expectations for how many houses the buyers will see.

b. Your market expertise is one of the benefits you provide. Demonstrate your superior knowledge of the market and related business matters.

3. Ask how buyers want to look at houses.

c. It is common for buyers to look at houses on their own. Make sure to let them know that it is best to contact you any time they come across a property they want to see. If it turns out to be the right home, you will negotiate the best possible deal.

4. Discuss looking at houses without you.

d. Let buyers know that as a rule of thumb, closing costs are approximately 2–5 percent of the purchase price. You should review all of the costs. There is lot of variation so use costs that are appropriate for each situation.

5. Discuss making an offer, negotiating, and contract to close issues.

e. Find out what home search methods appeal to them. Let buyers know they can look at houses online, drive through neighborhoods, and attend open houses before going out with you.

6. Explain closing costs.

f. Let them know that one of the benefits you offer is being their personal shopper. You screen properties so they don't have to look at every property on the market. Explain that you save your buyers time by doing research and previewing properties.



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Notes

Insights from The Millionaire Real Estate Agent

“Two events in my life forever changed my thinking on what I believe a person is capable of achieving through God-given talents alone. The first was when a Baylor professor chided a certain cavalier young student who thought he might have all the answers. (That would be me, of course.) He said, “Son, you’re not the first person to want to have a successful career. You’re not the first person to have dreams you want to fulfill. You’re not the first person to want to be the very best you can be in life. You need to realize that people have lived before you. And you might be wise to slow down for just a second and figure out what they learned on their journey before you start your own.” I listened attentively and thought I understood what he was saying, but I wouldn’t really hear him for almost a decade.”



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Role Model: Words That Work—Educate Your Buyers Familiarize yourself with the following scripts as your instructor role-models.

1. Talk about the market

• At the moment we happen to be in a buyers/seller's market. Do you know what that means?

• This is what's on the minds of most sellers today…

• This is what's on the minds of most buyers today…

• Are you aware of what is happening with interest rates?

A little bit.

What have you found?

Any response

This is what I've seen lately… Do you have any questions about interest rates?

• Right now, on average, homes in your desired price range are selling in ___ days. This means…

• In the market today, on average, homes in your price range are selling at ___% above/below list price.

• Also, at the moment, prices for homes are falling/rising because…

2. Set expectations for how many houses the buyers will see.

• Quite honestly, a lot of people think you need to look at a lot of houses and that's not true. I need to look at a lot of houses. You don't. I will continue to show homes until you find the one you want. Please understand that my job is to help you find the home you want with the least amount of time and hassle to you and at the price you want to pay. That's what's important to you, isn't it?

• Think of me as your personal shopper. As a shopper, it is my job to look at and evaluate what is available. I'll be screening everything that comes on the market and is close to what you want. I'll look for the best value in comparison to what is available. I'll select the best properties and take you to see only the ones that are a really good fit for what you want. How does that sound?

• By the way, Mr./Ms. Buyer, national research indicates that people who work with a real estate agent, on average, visit approximately six houses before they find the one they want. For the people I work with, it’s even fewer than that because of the preselection I do. How does that sound?

• You only want to see the homes that best fit your needs, isn't that right? You don't want to see all of the houses in your area, do you?



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• Well, if you're good at telling me what you want, and if I'm good at listening to what you're telling me, I should be able to take you to your new home the first time we go out. Wouldn't that be great?

• Don't be surprised if the first home we see is the one you want to buy.

• Mr./Ms Buyer, do you remember when we talked about what you need and want in your new house? We are going to find as much of that as we can, but to be honest with you, there is no such thing as a perfect house. Even people who build their dream home have things they would change if they could start all over again. When we find a house that has your five need-to-have features, that is a 90–95 percent house. I'm going to suggest you write an offer. Does that work for you?

3. Ask how Buyers want to look at houses

• What home search methods appeal to you? Do you prefer to review homes online, do drive-bys, go to open houses, or a combination of all three?

Let me give you a few tips for looking at house when you are on your own.

4. Discuss looking at houses without you.

• As you are going about your lives you’ll see for sale signs in front of houses, you’ll see homes for sale by owner, new construction, and open houses. The best thing you can do is call me when you see anything that interests you. I may already be familiar with the property and can tell you about it. I am always happy to call the seller and get additional information. As your real estate agent, it is my job to look out for your best interest. The process works best if you call me first and I go with you to view the property. Alternatively, you can give the seller one of my business cards and let the seller know that I am representing you in your purchase.

• When a home owner or builder agent says, "We are not cooperating with Realtors." What they are telling you is this, "We do not want to pay your Realtor." They cannot deny you representation, they can only decide they don't want to pay your Realtor, but I'd like you to remember this, nobody will look out for you like I will. Those people all work for the seller, they don't work for you and they don't look out for your interests.

5. Discuss making an offer, negotiating, and contract to close issues.

Making the Offer

• I will prepare a competitive market analysis for you so we can see what is sold and what is on the market, so we can make a good value judgment. You are going to be very well educated when we go in to make this offer, and have an excellent understanding of what the house is worth.

• There are many contingencies that we can put in the contract to protect you. We put some into our contracts as a standard procedure. [Give them a copy of the clauses and addenda you attach to your contract.] Here is a copy of what our contract looks like and what addenda we automatically attach to it, so you can review it. I want you to have a look at it and ask me any questions so that when we are ready to write up an offer you’ll be very comfortable with the paperwork.



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Negotiating

• You understand that my job is to negotiate on your behalf in this transaction. The good part is, it’s all about you. It’s your house, and I want you to have your house. The best part is, I have no emotion invested in the transaction, because while you are emotionally attached to the home, I am professionally attached to it. So what you and I discuss does not come through emotionally, but professionally. The sellers will never hear that you may be willing to pay more. They will never hear any anxiousness. They will hear your terms factually and professionally because my job is to get you the home that best fits your needs both emotionally and financially.

Contract to Close:

• The most important part of my job starts after you have made the offer. Finding a house is work, but it’s fun. Getting to the closing table is the hard part. I make sure that everything happens smoothly, thanks to the systems we follow. I stay in touch with the lenders and the title company. Every week we check to see where we are and what we need. We get the closing papers and review them, and we handle any issues that come up during the inspections, termite inspections and so forth, so you can relax and know that you are going to get to the closing table.

6. Discuss Closing Costs

• Let’s go over all the costs associated with closing. I’d rather discuss any concerns now, rather than at the closing table.


Best in Class 1. __________________________________________________________

__________________________________________________________

__________________________________________________________

2. __________________________________________________________

__________________________________________________________

__________________________________________________________



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Notes

“Whatever you think you can do or believe you can do, begin it. Action has a magic, grace, and power in it.”

JOHANN WOLFGANG VON GOETHE GERMAN PLAYWRIGHT



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Role Model Watch a master in action in The Buyer Consultation, Part 4—Educate Your Buyers.


1. Matt points out all the things he will do for the buyers. List as many as you can. Are there any others that you generally cover?

_______________________________________________

_______________________________________________

_______________________________________________

_______________________________________________

_______________________________________________

_______________________________________________

_______________________________________________

_______________________________________________

_______________________________________________

_______________________________________________

_______________________________________________

2. What question does Matt ask as a trial close?

_______________________________________________

_______________________________________________



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Notes

What to Keep in Mind 1. Take adequate time to explain the home buying process to first time buyers.

2. Use assumptive closes, meaning you speak with the buyers as if they have already agreed to hire you.

3. A diagram makes the home buying process easier to understand. (a sample is available on your Buyer Mastery Toolkit CD)

4. Have a sample contract for buyers to take with them.



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Role-Play—Educate Your Buyers It’s your turn to step up to the plate! • Team up with your partner and take turns practicing this part of the buyer

consultation. Refer back to Words that Work and circle the scripts you want to use.

• Begin building your buyer consultation by practicing each of the following actions on your checklist. Check off as you complete them, or give your partner your workbook and have them check off the points you cover! Time: 10 Minutes to nail this part of the Buyer Consultation!

Buyer Consultation Part 4—Educate Your Buyers Checklist

Talk about the market. Explain how you work and set the expectation for how many houses the buyers will see. Ask how buyers want to look at houses. Discuss looking at houses without you. Discuss making an offer, negotiating, and contract to close issues. Explain closing costs.



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Notes

For more information on customer service, see the Keller Williams course, Delivering Customer Value



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Part 5—Set Service Expectations


Action Description

1. Ask what will make the transaction a “10+” value for the buyer.

a. Use the 10+ Experience Questionnaire (in the Appendix) to find out what is important to the buyers and assess if you can meet their expectations.

2. Discuss how you win with one another.

b. This is a short discussion to find out what is important to your buyers. Honesty and loyalty are frequent topics. This sets the stage for mutual expectations and good communication.



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Notes

“Under-promise and over-deliver to have happy buyers.”

GENE RIVERS KELLER WILLIAMS INTERNATIONAL MASTER FACULTY



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Role Model: Words That Work—Set Service Expectations Familiarize yourself with the following scripts as your instructor role models.

1. When going over their customer service expectations

• Now that you understand how I work, please tell me what else will make this a "10" experience for you.

Can you describe exactly what I need to do to accomplish that?

Can you tell me what about that is important for you?

• Have you ever worked with a real estate agent or consultant before?

What did you like best about what this person did?

What didn't you like?

2. Discuss how you win with one another.

• How does someone win with you?

• How does someone lose with you?

• When I advise you on your home purchase, on a scale from 1 to 10, with 1 being indirect and 10 being absolutely direct, how do you want me to communicate with you?

If response is less than 10 Can you tell me what you mean by that?



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Notes

“To model excellence you should be a detective, an investigator, someone who asks lots of questions and tracks down all the clues to what produces excellence . . . Building from the successes of others is one of the fundamental aspects of most learning.”

ANTONY ROBBINS AUTHOR, UNLIMITED POWER



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Best in Class

1. __________________________________________________________

__________________________________________________________

__________________________________________________________

2. __________________________________________________________

__________________________________________________________

__________________________________________________________



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Notes

What to Keep in Mind 1. This part is preparation for getting a buyer representation agreement.

2. Handle any objections before moving forward.



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Role Model Watch a master-in-action in The Buyer Consultation, Part 5—Set Service Expectations.


1. What are the benefits of using a 10+ Buyer Service Questionnaire?

2. Why is this a great time to ask for referrals?

Role-Play It’s your turn to step up to the plate! • Team up with your partner and take turns practicing this part of the buyer

consultation. Refer back to Words that Work and circle the scripts you want to use. • Refer back to the Appendix and use the Buyer 10+ Questionnaire to guide you.


Buyer Consultation Part 5—Set Service Expectations Checklist

Ask what will make the transaction a “10+” value for the buyer. Discuss how you win with one another.



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Notes

“Getting buyers to sign a representation agreement is simply a matter of getting over the fear of presenting the information.”

CINDY BAGLIETTO TEAM BAGLIETTO DALLAS, TEXAS



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Part 6—Close for the Agreement


Action Description

1. Explain how you get paid.

a. Explain the buyer’s representation agreement in terms of benefits to the buyer. Handle any objections.

2. Explain agency.

b. Let your prospects know—especially first time home buyers—that your expenses are covered by the seller.

3. Explain exclusivity agreement.

c. Once your prospects have understood the benefits of working with you, use scripts to ask for their signature.

4. Ask for signature.

d. If you have not done so already, the buyer consultation is the time to address the topic and get a signature acknowledging that you have explained it. (Check state/province regulations for specifics.)



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Notes

Truth Buyers will sign a representation agreement

if the benefit to them is clear.



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Words that Work—Close for the Agreement Familiarize yourself with the following scripts as your instructor role models.

1. Your Commission

I don’t know if you are aware of this or not, but my commission is paid by the seller. I can work for you, find you the best house, negotiate to get the best possible terms, and someone else pays me. Isn’t that great?

2. Single Agency (for states/provinces where dual agency is not permitted)

State law requires that I explain agency to you. Right now I do not represent you in any way. The only way you can be represented is when you sign an agreement with a real estate broker. A real estate agent can represent either a buyer or a seller, but not both in the same transaction. That is good for you because your real estate agent has a fiduciary obligation to only one side of the transaction. Does that make sense? Do you have any questions? I need you to sign this form that acknowledges I have explained agency to you.

3. Dual Agency (for states/provinces where dual agency is permitted)

State law requires that I explain agency to you. Right now I do not represent you in any way. The only way you can be represented is when you sign an agreement with a real estate broker. You can be represented in one of two ways, either in a single agent relationship where your broker represents only you or in a dual agency relationship where the broker is an intermediary for the buyer and the seller. A dual agency situation arises when a buyer is interested in purchasing a property that his or her agent is selling. If that occasion arises, I would need permission from you and the seller to proceed with the transaction. If we did proceed, I would treat both you and the seller honestly and fairly. I would not disclose any confidential information. I could do a market analysis for you, but you would have to decide for yourself what you want to offer on the house. Then I would present your offer to the seller without making any recommendation as to whether the seller should accept, make a counteroffer, or reject your offer. Does that make sense? Do you have any questions? I need you to sign this form that acknowledges I have explained agency to you.



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4. Buyer Representation

• Can you see how it could benefit you to have somebody looking out for your best interest as you search for the best home and negotiate its purchase?

Great! This form says that I will represent you in your home purchase.

• This form allows me to represent you and look out for your best interests.

• I would like to continue this relationship. Are we at the point in our relationship where you want to hire me so we can move forward with finding a home for you?

Yes

Here's how we take care of that. You just need to okay this agreement right here.

• Just as you would hire an attorney to represent you in court or you’d hire an accountant to do your taxes, you’re hiring me as a real estate agent. And just like any professional, I’d liked to have something written to acknowledge our agreement. This protects you in that if you feel like I haven’t represented you or looked out for your interests, you have legal recourse because it’s written down on paper what my requirements are to you. And if I don’t act on those requirements, this is your document to protect you.

• Here’s how I work. I only provide my level of fiduciary service to people I know who are motivated and willing to do business with me and understand the value of that. Mr./Ms. Buyer, we make a mutual commitment to each other. Now, this agreement outlines that commitment and you can see here if at any point in time you don’t feel that I’m living up to my side of the bargain, you can fire me with written notice. There doesn't have to be any cause, no anything, and all it says is that if you end up a buying a home that I was helping you buy before that time, then we’ll be back into a relationship on that home.

• Buyer representation is a two-way agreement. It allows us to work together without any hesitation, without any possible conflict of interest, without any division of duties or loyalty. A benefit to you is that if I learn something about the seller that you don't know, I am duty bound to tell you—even if it is confidential information.

• If I don't have a signed buyer representation agreement with you, I technically represent the seller. That means I can’t tell you anything I happen to find out about the seller’s situation. Let’s say for example, we have a seller who is going through a divorce and is desperate to sell and move on with life. This person is really willing to accept less than the list price. If I don’t have a buyer representation agreement, I can’t tell you that, but if I am representing my buyer exclusively, and the listing agent happens to let that information slip, then I can tell my buyer about it. It’s a real advantage to a buyer to have exclusive representation.



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5. Handling Objections to the Buyer Representation Agreement

• I sense a little apprehension here. This is what I suggest we do. We sign an agreement for one day. I'll take you out to look at houses. If you ultimately buy one of the houses I show you, you'll buy it with me as your agent. If we don't find the right one, we can extend the agreement and look again or we can call it quits. How does that sound?

• There was a time when real estate agents only represented home sellers. After some time people began to realize that buyers needed someone to act in their best interest. When agents first started representing buyers, no one thought of using buyer representation agreements. Later, people started to realize that an agreement could clarify the rights that buyers deserve.

If they refuse to sign • I understand that we’re both in the process of interviewing each other to make sure

we have a good fit and sometimes that means we need to spend a little time together.

• I'd like a chance to provide the service that you want. If you're not happy with the way things are going, all I ask is that you let me know. Beyond that, we can cancel the contract. I don't want you telling other people that I am doing a bad job.

• Mr./Ms. Buyer, I appreciate your decision. Since I can only work with buyers who work exclusively with me, I'll have to just wish you luck in your home search. Thanks for coming in to meet with me today and let me know if you change your mind.


Best in Class 1. __________________________________________________________

__________________________________________________________

__________________________________________________________

2. __________________________________________________________

_________________________________________________________

__________________________________________________________



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Notes

“Do not be too timid and squeamish about your actions. All life is an experience.”

RALPH WALDO EMERSON AMERICAN POET



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Role Model—Close for the Agreement Watch a master in action in The Buyer Consultation, Part 6—Close for the Agreement.


1. Why is it important to present the Buyer Representation Agreement in terms of benefits?

2. How does Matt justify his transaction fee?

3. What objection do the buyers have, and how does Matt resolve it?



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Notes

What to Keep in Mind 1. You are required by law to explain agency.

2. Have a buyer agency disclosure form with you.

3. Have a buyer representation agreement with you.

4. Any time customers see a benefit to them, they'll do what you want them to do.



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Role-Play—Close for the Agreement It’s your turn to step up to the plate! • Team up with your partner and take turns practicing this part of the buyer



Buyer Consultation Part 6—Close for the Agreement

Checklist

Explain how you get paid.

Explain agency. Explain exclusivity agreement. Ask for signature.



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Notes



140

Part 7—Establish Next Steps


Action Description

1. Answer buyers’ questions.

a. You should ask for referrals every time you demonstrate your value.

2. Ask how your buyers would like to be contacted and how often.

b. Double check the criteria your buyers have given you

for their ideal home.

3. Ask for referrals. c. Unasked questions are the ones that cause problems,

so make sure you’ve answered everything your buyers want to know.

4. Check criteria for the home.

d. In order to keep your momentum and avoid losing customers, always set your next appointment before the current one ends.

5. Close for the next appointment.

e. Thank your buyers for their business! Tell them how excited you are to help them find the perfect home.

6. End on a high note.

f. This positions you to communicate as a valued professional. Because you have asked for permission, your buyers will look forward to hearing from you.



141

Notes

“A script for an actor is like a bible. You carry it with you, you read it over and over.”

CAMERON DIAZ ACTOR



142

Role-Play: Words That Work—Establish Next Steps Familiarize yourself with the following scripts as your instructor role models.

1. Answer your Buyers questions

• Do you have any more questions?

• Is there anything you would like to discuss further?

2. Keeping in touch

• Who should we designate as my primary contact? This is the person I will be contacting to set up meetings and schedule showings.

• What is the best way for me to keep in touch with you?

Any other way?

• What times are the best for me to call you?

• What are the best times for you to look at houses?

3. Ask for a referral

Do you know anyone else who could benefit from the same services I am providing for you?

4. Confirm criteria for house

So let’s review exactly what it is you are looking for in your new home. Please let me know if there is anything you would like to add, or reconsider.

5. Close for the Next Appointment

The best time for you to look at houses is Saturday, right? So why don’t we meet this Saturday at __________ to start your search?

6. End on a high note

Thank you very much for your business! I can’t wait to find your perfect house!



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Notes

“Here is the basic rule for winning success. Let's mark it in the mind and remember it. The rule is: Success depends on the support of other people. The only hurdle between you and what you want to be in is the support of other people.”

DAVID JOSEPH SHWARTZ AUTHOR, MAGIC OF THINKING SUCCESS



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Best in Class

1. __________________________________________________________

__________________________________________________________

__________________________________________________________

2. __________________________________________________________

__________________________________________________________

__________________________________________________________



145

Notes

“Experience is the best teacher.” BENJAMIN FRANKLIN

AMERICAN INVENTOR



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Role Model Watch a master in action in The Buyer Consultation, Part 7—Establish Next Steps.


1. What expectations does Matt set for the home search process, and why?

2. Why is this the best time to ask for a referral?



147

Notes

What to Keep in Mind 1. Be enthusiastic, your mood will be contagious.

2. Thank your buyers for their business.



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Role-Play—Establish Next Steps It’s your turn to step up to the plate! • Team up with your partner and take turns practicing this part of the buyer



Buyer Consultation Part 7—Educate Your Buyers Checklist

Answer buyers’ questions. Ask how your buyers would like to be contacted and how often. Ask for referrals. Check criteria for the home. Close for the next appointment. Transition on a high note.



149

Notes

“Our lives improve only when we take chances and the first and most difficult risk we can take is to be honest with ourselves.”

WALTER ANDERSON AMERICAN PAINTER



150

Share Your Experiences—The Buyer Consultation

What went right?


How can I power through the challenges next time?



151

Notes

Coach’s Corner

Accountability shapes and reshapes your focus.

Coaching Question:

If Gary Keller was in your office watching you every day, would you do the same things in the same way you are doing them now?



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_____________________________________________________________________

_____________________________________________________________________

Action Plan


1. I am familiar with each of the seven parts in the Buyer Consultation.

Refer to Buyer Mastery Guides, Step 3, The Buyer Consultation

2. I can confidently cover every point in each of the seven parts.

As above

3. I use a series of scripts that I have practiced throughout the consultation.

As above

4. I use the buyer’s questionnaire to keep me on track during the needs analysis.

Refer to Buyer Mastery Guides, Step 3, The Buyer Consultation, The Needs Analysis

5. I use the 10+ service questionnaire to keep me on track when setting service expectations.

Refer to Buyer Mastery Guides, Step 3, The Buyer Consultation, Setting Service Expectations



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Notes


Insights from Lead Generation 36:12:3

The Power of One

“There is a timeless truth that “One Thing Begets Another.” Let’s think of what this means for mastery and success: once you master one thing, it makes achieving mastery of the next related thing easier. This is the foundational way all goals, disciplines, and habits are ultimately added in life—they support and beget each other. By doing the right things first, you can create momentum in your life and in your business. In terms of the physical law of momentum, you are applying force in a specific direction to generate movement and build speed. When you acquire and implement an important new habit in your business, you will soon discover that the next important business habit becomes just a little bit easier to develop. This is why “the rich get richer.” Once someone learns one correct habit for acquiring wealth, they more easily learn the second, and so on . . . until they have the necessary financial habits in their life to build a massive amount of wealth.”



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My 20 Percent

1. ________________________________________________________


2. ________________________________________________________


3. _______________________________________________________



Notes

For more on Lead Conversion:



Lead Conversion Wrap Up

Your Results To get started, tally your final results. Start with what you accomplished this morning and add any results you obtained at lunch or on break.

1. Break down your results into these categories:

Category Count

No answer

Left message—no call back

Left message—got call back

Conversation, but no appointment

Appointment

2. Enter the source of the lead(s), along with date, time, and location of appointment:

Lead Name Source Date/Time of Appt Location of Appt



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Notes



158

3. Note script(s) used. Were any of the scripts tailored to lead because of the source they came from?

Script Tailored?

4. What objections did you handle? Which ones went most smoothly? Which were most challenging to overcome? Did any objections just fall by the wayside because you addressed them first?

Objections Result



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Notes

“The mind is not a vessel to be filled, but a fire to be ignited.”

PLUTARCH GREEK PHILOSOPHER



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Class Results

1. How many calls were made in total?

2. How many connected with someone in person?

3. How many people got appointments?

1.

4. How many appointments were set by the class?

Onward

How Will You Approach Future Lead Conversion?

What Scripts Will You Incorporate Into Your Calling?


Notes

Final Action Plan


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Final Action Plan

Look back at your three My 20 Percent priority lists on pages 57, 75, and 155.

Rank your goals in order of importance, and commit to when you will achieve them.

Action Plan

Goal By When?

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2.

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4.

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6.

7.

8.

9.

Final Action Plan


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Final Action Plan


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You’ve Got It

You’ve been equipped with skills, hands-on practice, and tangible results!

Success Is Next! 1. Get the Appointment

2. Conduct a Thorough Buyer Consultation

3. Handle Objections

Thank You for Attending Buyer Mastery!


Fast Track Coaching Contract Required Payment Agreement is minimum of 6 months participation

($99 per month for six consecutive months)

Plan Session Schedule Monthly

Cost

Fast Track Coaching

Two, one-hour calls per month (group call)

$99.00 No holds or cancellations

Participant Name: Name of Fast Track Program:

MC Home Address: City: State: Zip:

Business Phone: Fax: Email Address: Market Center Number: Region Name: Role: Owner Team Leader Agent

Payment Agreement

Name on Card: Type of Card: MC AX Visa

Credit Card Number: Expiration Date: ___/_ ___

Is this your personal credit card or does it belong to the Market Center?___________________________

I acknowledge and agree that my coaching will begin the month indicated in the line below or the month this Agreement is received by MAPS (whichever is sooner) and will continue for six consecutive months thereafter. I authorize Keller Williams Realty, Inc. to charge my credit card on the 10th day of each month for coaching services that I receive for the current month, with the exception of the first month which shall be charged to my credit card upon receipt of this Agreement. If payment is not received on or before the end of the month, coaching calls will be suspended until payment is received. This authority remains in full force and effect throughout the term of this Agreement. You will have the above-prescribed number of calls, each call for one hour, two times per month. You are committing to a six month contract with KWRI by signing this Agreement, a covenant commitment. You will be charged for all calls. Keller Williams Realty, Inc. will not use or share the personally identifiable information provided herein in ways or for reasons unrelated to the ones herein without your prior written consent. The client hereby acknowledges and agrees that calls may be recorded for training purposes only.

Signature: Date: ___ Printed Name:_

MAPS Institute, Keller Williams Realty, Inc. 807 Las Cimas Parkway Austin, TX 78746

Tel: 512-327-3070 Fax: 512-532-6614 Email: [email protected]

Internal Use Only

TP ___ SM___ BC___ VS___

1st mo charge = _______ BM___

Salesperson’s Name:

______________________


Appendix

[1] In-Town Buyer Lead Sheet

[2] Out-of-Town Buyer Lead Sheet

[3] Buyer 10+ Experience Questionnaire

[4] Buyer Consultation Questionnaire


In-Town Buyer Lead Sheet Date: _____________________ Lead Source: _____________________________








If yes, who? ________________________











Need for confidentiality _______________________________________________




Date: _____________________ Lead Source: _____________________________

CONTACT INFO Name Email

Street Address Names of Children

Home Phone Cell Phone Work Phone Fax What is the best way to get in touch with you? What times are best? Spouse Name Spouse Cell Phone





Renter: When is lease up? Owner: Need to sell existing home? Yes No If yes, working with a listing agent? Yes No

If yes, who? ________________________















Date: _____________________ Lead Source: _____________________________








If yes, who? ________________________














Out-of-Town Buyer Lead Sheet Date: _____________________ Lead Source: ________________________________



1. Already working with a buyer’s agent? _________________________________ 2. Is this a single purchaser? Yes No If no, who else? 3. People who will live in the house 4. Reason for the move

Job transfer: Relocation company involved? 5. Started looking for a home? Yes No If yes, see anything good? Yes No

If yes, description _____________________ If no, why not? ___________

Reason for not purchasing 6. Date of move ____________ Moving into new home upon arrival? Yes No Maybe

No or Maybe: Need transitional housing? 7. Current situation: rent or own? (circle one) Own: Need to sell existing house in order to buy?

Yes No

If yes, where? ________________________ Have a listing agent? Yes No

If yes to have an agent, who? ___________________ Phone:

Recommend listing agent? Yes No If yes, who 8. Method of financing: cash or mortgage


Preapproved: Lender’s name _________________ Phone

Mortgage amount Down payment amount

Recommend lenders? Yes No If yes, who? 9. Preferred price range ________________________ 10. Date of trip to look for property_____________________ 11. Level of urgency to buy: 1 2 3 4 5 6 7 8 9 10

Anything less than 10: What would it take to become a 10? 12. Appointment date and time: Other information ___________________________________________________ Need for confidentiality Behavioral style: D I S C


Buyer Consultation Questionnaire Instructions: Save a master copy of this file as your consultation template. The questions on this form cover the range of topics you might want to discuss with buyers. You’ll tailor your consultation depending on each buyer’s situation. For example, the questions you ask of most first-time home buyers will include some topics that you wouldn’t cover with people buying a vacation home and vice versa. Follow these steps:

1. Prior to each buyer consultation, make a copy of the Word document. Use colored paper if you want it to stand out from all the other documentation that you use when working with buyers.

2. Mark the questions that are appropriate for the consultation so you’ll remember to ask about everything you want to know.

3. Record answers in writing. Use the back of the sheet if necessary 4. Ask follow up questions to clarify the true needs and wants of your buyers.

• What exactly do you mean by _______ ? (e.g. large kitchen, privacy, etc.) • What does having _______ do for you? (e.g. large kitchen, privacy, etc.) • Can you explain that in more detail? • How does that make you feel? • Why do you suppose that is?

Review Prequalification Information Ask these questions to confirm what you’ve been told previously or if you don’t know answers yet. Name of Buyer 1 __________________ Phone ____________ Email ____________

Name of Buyer 2 __________________ Phone ____________ Email ____________

1. Who is the primary contact with me and what is the best time and way to reach you? 2. What is prompting your move? 3. When do you need to be in your new home? 4. Are you preapproved for a mortgage? 5. What is your price range?

If we found a home today that meets all of your needs and as many of your wants as possible, would you make an offer?


Lifestyle

1. Who will be living in the home you purchase?

2. Will anyone else be spending more than an occasional overnight stay (e.g., parents)?

3. Describe your lifestyle. What do you enjoy doing at home? (e.g., Do you do a lot of entertaining? How do you spend your time in the evenings and on the weekends?)

4. Does your home need to accommodate any special needs?

5. Do you have any pets?

6. Do you have anything special that needs to be accommodated such as athletic equipment, fine art, large furniture, or a large collection?

7. When people come to your home, what do you want your home to say about you?

8. Is there anything I should know about your lifestyle that I have not asked?

Location

1. Tell me about your ideal location.

2. What is your maximum commute time and distance?

3. What is your work address?

4. Are schools important?

5. Is there a particular view you are seeking (e.g., skyline, lake, mountains)? 6. What else is important about your location?


House – General

1. Do you have a preference for when the house was built?

2. Do you want a house in move-in condition or are you willing to do some work on it?

3. When people come to your home, what do you want your home to say about you?

4. Do you want to have a swimming pool or hot tub?

5. Are you looking for any structures such as a greenhouse or shed?

House – Structure/Exterior

1. What type of home are you looking for (e.g., single-family, condo, townhouse, etc.)?

2. Approximately what size house are you looking for (square footage)?

3. How many stories?

4. What size lot would you like?

5. What architectural styles do you prefer?

6. What type of exterior siding will you consider?

7. Do you want a porch or deck?

8. What are you looking for in terms of a garage (e.g., attached, carport, etc.)?

9. What other exterior features are important to you?


House – Interior

1. What kind of style do you want the interior of your home to have (e.g., formal, casual, cozy, traditional, contemporary)?

2. What kind of floor plan do you prefer (e.g., open vs. walls between all living spaces)?

3. In general, what are your likes and dislikes for the interior of your home?

Bedrooms

1. How many bedrooms do you need?

2. How will each of those rooms be used?

3. What are your preferences for the master bedroom?

Bathrooms

1. How many bathrooms do you need?

2. What are your needs for each of the bathrooms?

Kitchen

1. What features must your kitchen have (e.g., breakfast area, types of appliances, etc.)?

2. What finishes do you want (e.g., counter tops, flooring, appliances, etc.)?

3. What are your likes and dislikes for the kitchen?


Dining Room

1. Would you like the dining room to be part of the kitchen configuration? What about the living room?

2. What size dining room table do you have?

Living Room/Family Room

1. Describe your likes and dislikes.

2. Do you want a fireplace?

3. What size room(s) do you have in mind?

4. What other rooms do you need or want?

5. What else should I know about the inside of the house you are looking for?

Summary

1. What are the top five things your home needs to have?

2. Beyond those five things, what is something else you really want to have?

3. If you could have something else, what would that be?

4. If you could have one last thing to make this your dream home, what would that be?


Buyer 10+ Experience 1. Here’s a list of what you can expect from me. I want you to tell me how important each of these items

is to you. Let’s use a scale of 1-10, with 10 being “extremely important” and 1 being “not necessary”. Are you ready?

What YOU Can Expect of Me How important is this to you?

I will always respect your time and will try to accommodate you. 1 2 3 4 5 6 7 8 9 10

I will respond to your phone call or emails within 24 hours. 1 2 3 4 5 6 7 8 9 10

When I leave town, I will ensure that one of my colleagues follows up with you and is available to help you.

1 2 3 4 5 6 7 8 9 10

I will always be honest with you, even when I have information that you may not want to hear.

1 2 3 4 5 6 7 8 9 10

I will search the MLS daily and inform you of all new homes that meet your wants and needs.

1 2 3 4 5 6 7 8 9 10

I will contact you once per week to update you, even when I have nothing to report.

1 2 3 4 5 6 7 8 9 10

I will keep your information confidential. 1 2 3 4 5 6 7 8 9 10

I will provide you with a CMA on all the homes you’re interested in. 1 2 3 4 5 6 7 8 9 10

I will present all offers promptly. 1 2 3 4 5 6 7 8 9 10

I will educate you on the contract and all of its terms. 1 2 3 4 5 6 7 8 9 10

I will always negotiate price and terms in your best interest. 1 2 3 4 5 6 7 8 9 10

I will keep you informed after contract ratification of your loan process. 1 2 3 4 5 6 7 8 9 10

I will refer you to proven professionals throughout the entire process. 1 2 3 4 5 6 7 8 9 10

2. Now that I’ve told you how I work, please tell me what else will make this a “10” experience for you. _______________________________________________________________________________ _______________________________________________________________________________ Can you describe exactly what I need to do to accomplish that? _______________________________________________________________________________ _______________________________________________________________________________

Can you tell me what about that is important for you? _______________________________________________________________________________

3. If we could add one more thing to make it a 10+, what would that be?________________________ _______________________________________________________________________________ Can you describe exactly what I need to do to accomplish that? _______________________________________________________________________________


_______________________________________________________________________________

Can you tell me what about that is important for you? _______________________________________________________________________________ _______________________________________________________________________________

4. If we could add one more thing to make it a 10++, what would that be?________________________ _______________________________________________________________________________ Can you describe exactly what I need to do to accomplish that? _______________________________________________________________________________ _______________________________________________________________________________

Can you tell me what about that is important for you? _______________________________________________________________________________ _______________________________________________________________________________

Your Expectations for Our Win-Win Working Relationship

5. Have you ever worked with a real estate agent or consultant before?

No.

Yes. Tell me more: _______________________________________________________________________________ _______________________________________________________________________________ What did you like best about what this person did? _______________________________________________________________________________ _______________________________________________________________________________


6. What didn’t you like? ______________________________________________________________________________ _______________________________________________________________________________

7. How does someone win with you? _______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ Anything else? _______________________________________________________________________________ _______________________________________________________________________________

_______________________________________________________________________________

8. How does someone lose with you? _______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ Anything else? _______________________________________________________________________________ _______________________________________________________________________________

_______________________________________________________________________________

(continued on next page)


8. To best represent you and to ensure that we have a win-win relationship, I expect the following from all of my clients:

What I Expect from ALL of My Clients Does this sound reasonable?

Be honest in all things. Yes. No.

Be available to look at homes. Yes. No.

Let me know when you’re out of town. Yes. No.

If your wants, needs, or financial situation change, let me know. Yes. No.

If you want to see new construction, call me before you go into models, as there is a good chance that I have either worked with the builder/developer before and have toured or sold their homes before.

Yes. No.

If you see a FSBO, call me first with the street name and telephone number, as there’s a good chance I have already toured the home.

Yes. No.

If you see an ad, sign, or information on the Internet, call me first so I can provide you with a CMA.

Yes. No.

Do not go to any open houses without discussing it with me, as I am usually familiar with either the agent or company sponsoring the open house.

Yes. No.

Be as loyal to me as I am to you. Yes. No.

Refer me to your friends, family, or colleagues. Give me their names and telephone numbers.

Yes. No.

Yes. No.

Yes. No.

kwu buyer mastery stud workbook v1.1

Documents

real estate agents

millionaire real estate

course materials

tough times

rellek publishing partners

buyer leads

associated materials

buyer masters story