1:47 Minute Read.
Clients are counting on you to lead them through the home-buying process. They have questions and don’t know where to start. Educating them early in your relationship puts everyone at ease, builds loyalty, and creates a shared vocabulary.
“Listen carefully. Your client will tell you when it’s time to start closing the deal.”
If you meet new clients for the first time at the home you’re touring - as I do, here’s a great way to get the relationship started right. After roaming through the property, recommend sitting in the living room and having a brief discussion. Try something like this…
“Thanks for meeting me here. Before we travel to the next property, there are a few important questions you might be thinking about…
What does a Buyer’s Agent do? My job is to help you find available homes, open doors and to answer questions. When you find a house you are interested in, my job is to negotiate and navigate the transaction. I will never try to “sell” you a house. I’m here to listen and to help you get the home that best suits your needs.
How is a buyer’s agent paid? Most sellers agree to pay a commission to the buyer’s agent for representing and assisting you through the process. If you look at this listing sheet, my commission is spelled out under ‘BA’ (pointing to the buyer’s agent area). That’s how I am paid. But the opposite is also true. If you choose not to use me as a buyer’s agent, then I am paid nothing. So, you can see how important it is that I work very hard to meet your needs (hint- please don’t go elsewhere).
How does a buyer’s agent protect your interests? As your buyer’s agent, I’m going to do several things to make certain that you are well protected. When you find the right home, I will research it to determine it’s true value so you get the best deal possible. I will make certain any offer is contingent on the right kind of financing that easily fits your budget. I will make certain that you have time to fully inspect this property to make sure it’s the right one for you. If we find any problem with this house, I will work to correct it or provide a way out of the transaction. Last of all, I’m going to guide this transaction from start to finish, making sure everything is complete and accurate.
How should I judge a property? (This one is really important. It will set up future conversations.) It’s important that we all use the same language as we tour houses. That way, I’ll have a better understanding of what you are looking for in a home. Judge every house on three criteria:
The quality of the location. When you drive into an area, take stock and decide if this is the right neighborhood for you. Can you see yourself living here?
The quality of the house. Take a look at the exterior and interior of the home. Is it well built? Does it need a lot of updating? Does it have the amenities you’re looking for?
The quality of the lifestyle this house offers. Every home will change the way you live. Do you like to entertain? Where will you do that? Where will you relax? Can you see yourself enjoying life there?
On a scale of 1-10, can you tell me how you would rate each of these? There is no such thing as a perfect “10” home. When you reach 8 or above in every category, that may be a home you’ll want to keep on your short list.”
Having this shared vocabulary and common understanding of the role you play as a buyer’s agent will be beneficial throughout the transaction.