Stop Hopin' and Haulin' with Buyers! Do THIS Instead!

We have a tool called the Children's Buyer Agreement, where if they have little kids, there's even a form for their little kids to fill out. Where if they follow all the rules that the realtor and their parents set out for them, they'll get a $20 gift card at the store of their choice at closing. So that is a guaranteed referral generator. But it makes the process fun, right?

The real estate industry has failed to create a clear path to time and money freedom. Having helped 5,000 families in my real estate career and coach thousands of agents to scale their businesses, I know what works and what doesn't. And my goal on this podcast is to share all with you the good, bad and ugly of building a highly lucrative lifestyle business so you can focus on what truly matters in life. You won't find any hype or fluff on this show. Just real world tactics and strategies that get results.

You just gotta do the work. Welcome back to Real Estate Business Builders. Lars Hedenborg here, the founder of Real Estate B School. Today, I want to dive into a topic that really saved my butt when I first got into the business. So if you're sick of, like, putting buyers in your car and you're hoping and hauling, like Bill Gallagher in my market in CE class, he would say, no more hoping and hauling. We're always hoping at hauling. If you want to stay, stop doing that. You definitely have to pay attention to a new way of working with buyers. And this is a mindset shift. And I adopted this really early on in my real estate journey. I think by the end of my first full, my first, my second full year, my first 10 months, I did 27, then 44, then 58. I think that totals up to like 130 plus sales or something like that. I would venture to guess that maybe 10 of those were sellers. So I was really, really busy and I didn't have time to hope that a buyer would use me as their agent and kind of do the traditional approach of, you know, running out and showing a home to someone that wasn't even my client. And so there's a process that I want you to follow. And I recently did a training, a deeper dive training where I actually gave away my buyer consultation framework and my full buyer presentation in my free Facebook group. So go to real estate Business builders. So the reality is on the buy side of the business, that the buying public doesn't have a lot of respect for us. They really don't want an agent. They just want a house. You know, I mean, just really Think about it. I took a different approach. I was going to position myself as a professional and I wasn't going to just go out and show homes, which is kind of what the typical agent does. So the mindset that I knew that agents were not highly valued, I think even though I had self respect and I had a really positive self image and I was confident I could help a buyer, they generally see us as salespeople with commission breadth, meaning that you're just after the commission check and so. And I think it's even gotten worse with more information available online, I think that our services on the buy side especially are generally not valued. We've got a ton of deep dive training on how to run this process the right way. Inside Real Estate B School and even some free tools inside Real Estate Business Builders, the free Facebook group. But there is actually a class action lawsuit. I want to mention this. And the mindset you need to have is, you know, do you have a powerful enough value proposition where you could secure buyer business without relying on the co broke that's in the mls. And the reason I mentioned that lawsuit is that the fact that a listing agent goes in and negotiates a commission with a seller that accounts for the buyer agent to get paid is. And I think it's, it's successfully being litigated by the class action participants that that's not allowed. It's antitrust. There's big issues with it. They're going after the five biggest brokerages and like the 20 biggest MLS in the nation. So the industry is under siege. And generally the last point here before I get into some tactics on how you can do this differently, operate with a different mindset and a different approach in your business is that generally buyers are liars. And I put quotes around it. Buyers, obviously I love the heart of every person, but when it comes to working with buyers, they'll do anything to get you to open a door. And then you're just going to be wasting your time kind of doing whatever, you know, someone who's not even loyal to you is asking you to do so. My ask of you in everything we do is that you start to think like an owner. Right? You're coming here to listen to the podcast or watch the podcast on YouTube. It's real estate Business Builders is the name of the podcast. So this process I'm going to go through is going to help you to act more like an owner. Which owners put systems in their business on, those systems allow them to be successful. This process that I'm going to lay out for you is that at the end of the day, the process of presenting your services to a buyer, we call it the buyer consultation framework. There is no sale, right? You're going to present your services and handle all the objections they could have in the process of presenting this buyer consultation framework, where you're just going to focus on their needs, present what you do, give them some benefits to work with you, and at the end, they're going to logically choose you to represent them in a purchase, in the purchase of a home. So the first thing I want you to think about is that, are you coming into those conversations? That first meeting with a buyer, do you have the collateral, the marketing collateral, to show them that you're their guide? In real Estate B school, we have a tool that our members use called the home Buyer guide, which walks them through. It's essentially your resume and your process of how you work with buyers so that they know you're different from the other agents out there. So that's number one. Number two is you want to focus on their needs. You want to make sure that you have a clear understanding. We have, you know, a set of qualifying questions. When we set a consultation to meet with the buyer for the first time, we have a set of qualifying questions. And then when we meet to them face, meet with them face to face, we have a survey that they fill out so we're understanding exactly what their situation, exactly how we can help them, and exactly what's important to them. It just positions us as an advisor versus every other real estate salesperson out there. Number three is to anticipate and handle all the objections about what could go wrong in a transaction. We have a tool. It's a one pager for the agents on our team and for members of Real Estate B school, we, we suggest they laminate this one pager and it takes them through a diagram of what the agent does, what their lender does, what the affiliate vendors do, and what the buyer does in the home buying process looks very complicated. And we couple it with a document called the 88 Types of Turbulence, where we say to them, you know, we're going to help you. This plane's going to take off, right? This process, working with me as your real estate advisor, we're going to take this plane off. We're going to land this plane. There may be some turbulence, right? These are the things that could go wrong. But you need to trust that I've been through this enough times and I'm going to land this plane safely for you okay, so turbulence will not take the plane down. We should expect it. Hope, we hope that it's not going to happen, but if it does, we're going to get through it. Okay, so again, every part of this consultation framework positions you as someone that is above and beyond every other agent that's out there. The fourth thing here is to make the process easy and fun. We've got a very simple way that we sign buyers. It's called a VIP buyer loyalty agreement. It is benefit rich to the buyer. It's not the eight page legal contract that the state provides. We do get the working with, you know, real estate agents form signed, but then a simple one page buyer loyalty agreement that allows them to cancel the agreement. But, but it is benefit rich. And then we have a tool called the children's Buyer agreement where if they have little kids, there's even a form for their little kids to fill out, where if they follow all the rules that the realtor and their parents set out for them, they'll get a $20 gift card at the store of their choice at closing. So that is a guaranteed referral generator. But it makes the process fun. Right? So, so number five here is that we want to make a big promise when we sit down and we consult with a would be buyer client. Right? The promise that we make is essentially, and we've got scripts and forms around this, but essentially you want to promise that the experience of working with you as their agent is going to be unlike anything they've experienced before. Right? It's the Ritz Carlton of real estate or the Nordstrom of real estate, or the Four Seasons of real estate. You know, everything revolves around their needs, getting them what they want. And Mr. And Mrs. Buyer, when this happens, and essentially it just pivots into, you know, a conversation about, you know, when this happens, you're going to want to tell your friends about how it was working with me and here's how we want to handle those referrals. And if I don't get any referrals from you, I'm gonna assume that I didn't deliver on this promise and I'm gonna wanna talk about it. Is that okay? And then we have them sign a form where they commit to refer us business when we crush it working with them. And that's the promise. And so that's essentially one of our critical lead gen levers is what we call, well, we call it the promise, but it's client care. As a lead gen lever, how do you turn every client you work with into Two or more additional closings. We've got scripts and dialogues and all of that for that part of the process. So those are the five steps it requires you take a systems approach to your business. If you guys have listened to this podcast for any length of time, you know that I'm obsessed with the book Atomic Habits by James Clear. Probably my favorite quote in the book is, you do not rise to the level of your goals. You fall to the level of your systems, right? Just think about, you don't rise. Just because you set a goal doesn't mean you're going to achieve it. The, the systems that you put in place are the thing that's going to push you closer to achieving that goal. So there's a few things I want to mention here is that you need to have an actual playbook, a written, documented, standard operating procedure of how you work with buyers. It's the only way you can be sure that you're going to, you know, like clockwork. We call it list buyers, right? We list buyers just like, like we list sellers. But you have to have a documented playbook. You have to have buyer packets as well. This is all the documents that you need to list buyers, right? So you give your presentation and again, there's a free copy of the buyer consultation framework presentation in my free Facebook group. But you give your presentation and just like you would transition to, you know, going through paperwork with a seller, you transition to going through paperwork with a buyer. You have to have buyer packets. So in B school, we've got all the forms and templates for you. Then the buyer consultation, you have to actually have a buyer consultation. A marketing presentation. Well, not a marketing presentation, but presentation of your services so that you're not, you know, fumbling through and just showing random homes. It's easy to visualize how the buyer side works just by thinking of the seller side. We're literally sitting down with buyers before we show them homes. We're presenting our services and they're agreeing to be loyal to us and everything is covered. You know, looking at for sale by owners, looking at new construction. We handle all of those of those objections and we get their loyalty without scaring them off with a scary state contract. And, you know, we've got bonuses, three specific bonuses in our buyer loyalty agreement. It is an awesome, awesome process. And so I want you to reimagine what your buyer business could look like if you were in, in a position where you could systematically generate high quality buyer leads. You had the lead management and lead nurture systems in place to cultivate those leads automatically where when they were ready they would raise their hand. You had an appointment setting process, you had the proper scripts and dialogue so that you can get them to meet with you pre sold on your services and then you had the consultation process and this framework built into your business where more often than not 80 plus percent of even non soi, non sphere, you know, people that don't know you, 80 plus percent are agreeing to do business with you. How would your business change change if you had that framework in place? I just launched and so there's a little bit of a, of an ask here. I just launched a new program. It's a 90 day program. It's called my million Dollar agent method where in 90 days we literally help you put in place all the lead gen levers, all your lead management, lead nurture sequences, the entire appointment setting process, the entire buyer consultation framework, the entire tire seller consultation framework and leveraged client care, all your leveraged client care systems as well. There's a $40,000 guarantee. So if you don't generate an additional $40,000 of GCI, I will give you double your investment back in. You may not even qualify for the program, but you do want to get on a call to chat about it, Go to REBS growth assessment. We're going to what the call says. We're going to do a business growth assessment to see if this program is, is right for you. And if, if we know we can crush it together in this program, we'll definitely talk about what that looks like. So go to rebs growthassessment.com and we'll see you over there. Be good. Much love.