Buyer Consultation Framework | List Your Buyers so You Can Stop 'Hoping & Hauling'

Welcome to Real Estate Business Builders. I'm your host, Lars Hedenborg, the founder of Real Estate B School. Bottom line, the real estate industry has failed to create a clear path to financial freedom. Traditional brokerages and coaching are designed to keep you running on the transaction treadmill with no exit strategy. While I didn't have any sales, marketing or business building experience when I got into real estate, I was willing to bet on myself and figure it out because my family was depending. Having served over 5,000 families with their real estate needs, I've made every mistake you could possibly make in this business. Through Real Estate B School, I've helped hundreds of agents and team leaders realize their goal of true time and money, freedom and living a life without regrets. If you know there's another level of growth inside of you and you want to learn how to build a highly lucrative lifestyle business, then you're in the right place. You won't find any fluff or hype here on this show. Just real world tools, systems and strategies that work. Let's grow together.

Welcome back, Real Estate Business Builders. This is Lars Hedinborg, founder of Real Estate B School. Today we're going to talk about, really part two of one of our recent podcast episodes where we talked about the listing consultation framework. And this is the buyer side equivalent. And the challenge on the buy side of your business is that most agents don't treat the buy side of their business the same way that they do the list side of their business. Meaning you would never like randomly go to a house and stick your sign in the yard and start marketing it without sitting down with that seller, presenting your services, negotiating a commission and a pricing strategy. You would just never do that, work with them without having an agreement in place. So we want to work with buyers in such a way where essentially we're going to list buyers and say goodbye to the Holpin and Holland. I had a continuing education instructor, Bill Gallagher, who would say hopin and hauling. You guys are always hoping and hauling. So we want to stop doing that. And here is the thing. If you're not in so the only call to action I have here today is if you're not in our Facebook group called Real Estate Business Builders. Get over there. Because I dropped what I call your smart home buying strategy. Essentially this is a, the equivalent of a listing presentation to buyers. And I use this presentation to list, quote, unquote, hundreds of buyers per year. So head over to that Facebook group, you can get in there and search, essentially buyer consultation framework. Just go in there, search there and type in the comment and we'll send you over a free copy of it. So the guiding question that I have for you to consider as it pertains to working with buyers is, you know, ask yourself this question. Do I have a strong enough buyer sales process in place that consistently converts prospects into clients, even if they had to pay for our commissions out of pocket themselves? They this is the guiding principle I used on the buy side of my business since I got into real estate. I think it was like my first coach ever, Joey Trombley, who taught me this. Imagine if commissions went away on the buy side. How would you present your services to buyers in a way where they would like enthusiastically pay your commission, whatever that is. Two and a half, three, three and a half. I charge three and a half percent to my buyers. Didn't matter what the code broke was. Let's talk about why this even matters. The reality is, and I really embodied this mentality is that buyers don't want a real estate agent. And buyers think they know more than real estate agents. In some ways they do. Like if a buyer is hyper focused on buying a home, they know the specific neighborhoods they're researching online, they're in all the, you know, property search engines, they may actually know more about that neighborhood or about the properties available in that neighborhood than you do. So if you don't present your services, you're like forever going to be caught up in this, you know, working with buyers that don't have a lot of respect for you. And we want to flip the script on that so you can get paid what you're worth, no matter what happens to the industry. And if you don't know this, and I actually don't keep up with it, so I don't know what's going on with this massive class action lawsuit, but the five biggest brokerages and like the top 20 largest MLS or something like that, I might be misquoting major class action lawsuit around this very topic of a listing agent goes in, negotiates with a seller for let's call it a 6% commission and they decide to co broke half. Right. That's maybe a traditional sort of, I can't say I operate under that mentality, but let's say that happens. So the co broke is what was being argued. So the industry is under siege in terms of just like structurally it may change where there is no co broke offered. So we want to get ahead of this thing. And last couple points I'll make here on this topic of working with buyers and working with Them in a more professional way is that buyers generally are. I've heard the expression buyers are liars, right? They, they're gonna use you to open homes and then let's say they come across a new construction community, they're gonna just move forward with that new home builder and forget 100% that they have a buyer agent or they're gonna, you know, act on a fsbo and all of a sudden they forget that you've showed them, you know, 30 properties and given away evenings and weekends and all that stuff. So you wanna make sure that you have this in place in your business so that you can predictably list buyers and work with them exactly the way that you do with listings. And you'll be assured to earn a commission check and there's no more crossing your fingers, hoping that you will make the kind of money that you want. As far as the process goes to working with buyers and this presentation and sales process, and this goes for all sides of the business, but the best sales, no sale, you know, focusing on the needs of your buyer and putting a process in place is really key. So. And guys, if you missed this live presentation in the free Facebook group, make sure you go in there because I go over all of the bits and pieces, all of the marketing collateral, all of these sort of presentation pieces in that, in that group. So I have, I think like five points I want to get through and then I'll let you guys roll on with your day. As far as what you should know about working with buyers in this way, similar to the way we work with sellers, number one is that you want to be their guide. You want to approach working with buyers in a way where they probably don't know how this process runs. We have a tool in real estate B school called the home Buyer Guide that our members can swipe and deploy in their business, which essentially takes that potential buyer client through the process of what it looks like to work with you, the strategy, the financing, how showings are going to go, offers and negotiation, you know, getting protected in that transaction, the closing process and ultimately moving into their new home. And we categorize all of that in a seven step process and it's essentially a home buying roadmap. And so if you don't have a process that visually illustrates how you're going to guide them through their process, you're not going to be protected as the industry shifts. The second point I want to talk about, and I mentioned it earlier, is that you really want to focus on their needs. And from the Moment that you set a buyer consultation that's a first time meeting with a would be buyer client. You want to make sure you qualify that appointment. We have a script that we follow in real estate B school so you know that when you get together you know exactly what they're looking for. And then when you meet with them, there's a new buyer survey. So that's another form you'll have to use to make sure that you're actually going to serve their needs and meet them where they are. The, the third thing that I want you to keep in mind here in terms of what you should know is that when you're working with a buyer, things will go wrong and you want to preempt, I think that's the word preempt. What might go wrong. We've got another two tools. One is called 88 Types of Turbulence that you present to a buyer before you start working with them. And basically you say, hey listen, Mr. And Mrs. Buyer, this is real estate. We've got our processes dialed in. Everything is focused on getting you what you want and serving your needs. But this is real estate and things will go wrong. My job is to take off, take this plane out of the airport, fly it. We will have turbulence, but then I'm going to land this thing. You're going to be in your new home. And then we have a home buying process, a single laminated sheet that kind of goes through the process. So another couple graphical pieces that you'll use in the sales process to elevate the level of service that you provide versus other agents that are just popping out of their seats in the office and just going to show home. So the fourth point here in terms of elevating the buyer side of your business is that you want to make this process easy and fun. We have a very simple one page buyer loyalty agreement that we use with buyer clients that we work with. We actually don't have them initially sign the eight, nine page scary stateside agreement. We just have them side sign a one page loyalty agreement that is all they're going to get so that it covers our fees for sure. It covers our audit compliance processing charge and lets them know how we're going to work with them in terms of new construction and for sale by owners and all of that. But it's all, there's 1, 2, 3, 4, 5, 6, 7, 8 things that we're going to do for them. There's three bonuses that we include when they work with us. We also have something called a children's buyer Agreement where if your buyer client has children, the children sign a separate agreement that they're going to be polite and quiet while their mom and dad make a decision. They're not going to touch things in the house. They're going to pick out their new room and when they do that, they're going to get a gift card. At closing this one tool here, it will get you 12 additional closings per transaction if you have a couple that has younger children. So it's things like that make the process easy and fun. And then the last point I'll make, and this is probably a deeper dive training is that you in the sales process, when you before you start to deploy your time and your talents and your energy and your resources to helping this buyer, you are going to want to make a big promise. We call this the high performance promise. That was the name of my team. You can call whatever you want, but it's essentially a script in a document that they signed that says, hey, listen, I'm going to do everything I can to deliver on a Ritz Carlton experience. I want to make sure you get the best experience possible. Everyone is focused on getting you what you want and need. We'll make every effort to get out in front of everything to prevent surprises and make the process as hassle free as possible. And then in return, we need your help. And then you're setting the stage for getting referrals. And there's a whole script book that's associated with it that our members get access to. But in these five step, it's just going to allow you to predictably meet with, sign on as clients and get those clients into homes in a way where they're going to be raving fans of your services. You guys have heard me say the quote from James Clear Atomic habits. You do not rise to the level of your goals. You fall to the level of your systems. Now inside real estate B school, we have the playbook that you can follow like written out exactly how to work with buyers step by step. We also have buyer packets, you know, so when you sit with buyers, you have all your paperwork ready to to get them to sign. And then of course you have an editable version of the buyer consultation, essentially the buyer presentation. But jump into the Facebook group. It's real estate business builders. You guys know, if you ever want to sit down and have a conversation about your business, just go over to rebs growth assessment.com While it's not a sales call, the intention is to see where you are in your business. Where you want to be in the future, what's holding you back? What are some of the obstacles? And if we can be of service and we can help you crush your goals, we will absolutely talk about what it looks like to be in our world. We are two months into a case study program, so if you want to see what that looks like, it's rebscasestudyprogram.com this is completely rebuilt. We've been a decade into helping agents grow and scale their business so they can live a bigger life. So they can not have to endure all the stress and drama that comes from being a high producing real estate agent. So go to rebscasestudyprogram.com and we'll see you over there. Be good.

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