Your SlideShare is downloading. ×
0
Working with Buyers Part 2
Working with Buyers Part 2
Working with Buyers Part 2
Working with Buyers Part 2
Working with Buyers Part 2
Working with Buyers Part 2
Working with Buyers Part 2
Working with Buyers Part 2
Working with Buyers Part 2
Working with Buyers Part 2
Working with Buyers Part 2
Working with Buyers Part 2
Working with Buyers Part 2
Working with Buyers Part 2
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Working with Buyers Part 2

182

Published on

Published in: Business, Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
182
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
5
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. WORKING WITH BUYERS Sahil ShahRE/MAX Mumbai Gujarat Maharashtra
  • 2. Typical Objections• Price too high• Talk to lawyer• Bad market• Too much taxesRE/MAX Mumbai Gujarat Maharashtra
  • 3. Handling Objection• Ask questions!• Echo (Question back objection) - Find out what the objection really means.• Para Phrase - be more specific.• Advise / Counsel - “seek to understand” what the objection means and how it will affect them.• Sell features and benefits. Deal with the objections rather than avoid them, and then move on to the benefits and the wonderful features.• Negotiate - look for the solution and as a final step give concession for concession.• Know when to walk away and find new prospects. There are plenty more!RE/MAX Mumbai Gujarat Maharashtra
  • 4. Objections..• We want our parents to see it. – Ask if the parents okay the house if they are prepared to purchase.• We want to think about it. – Ask probing questions – what do you need to think about? – Would you like me to arrange a second viewing?• We would like to see other homes first. – Overcome through their trust in your market knowledge. – What is it you don’t like about this home? – Does this style of home suit you? – How do you feel about the price?RE/MAX Mumbai Gujarat Maharashtra
  • 5. • We haven’t sold our present home yet. – Not an objection but a condition and may be but as a condition in the offer (this should have come up in the buyer interview).• House needs work. – Is this an affordability concern? – Who would be doing any needed renovations (buyer or contractor)?• House is too big/small.RE/MAX Mumbai Gujarat Maharashtra
  • 6. Commission Negotiation• Overall Impression• Product Knowledge• Professionalism• Listing Presentation• Response Time• Did we look after special needs?• Would you refer us?• Would you use us again?• Finally - Did we earn our commission?RE/MAX Mumbai Gujarat Maharashtra
  • 7. Lowball Offer• The seller has to move, or has already vacated the property. Sometimes the sellers Sales Associate will disclose that a client has a firm date by which he must relocate or that hes already bought a new home and moved. (In general, if a house is empty, theres a better chance the seller is flexible.) These situations make for extremely motivated sellers, who may accept a low offer.• The home has been listed 90 days with no price change. Few sellers are going to take a lowball offer right out of the gate. On the other hand, if theyve been seeing little activity at the listed price and are considering dropping the list price anyway, a low offer may seem more enticing.RE/MAX Mumbai Gujarat Maharashtra
  • 8. • The seller has plenty of equity in the property and isnt at risk for being "underwater." In most areas, its relatively easy to use public records find out the amount of a homeowners outstanding mortgage; for a would-be homebuyer, this can be key information. A homeowner who has listed a property for far more than the amount they owe the bank has more flexibility than a seller who owes the bank nearly the full value of the home. For most homebuyers, submitting a lowball offer thats less than the sellers mortgage balance isnt a strategy with great odds of success.• The home is the last one in a new development. Developers that are pessimistic about the housing market may want to get unsold homes off their books. Thats particularly true if its the last unsold property in a development and as soon as the builder moves it, he can close up shop, move his sales rep to a new location, etc. Thats a huge incentive to cut a deal.RE/MAX Mumbai Gujarat Maharashtra
  • 9. • The home is being sold as part of a divorce or estate sale. Particularly in a contentious divorce, soon-to-be exes may be willing to take a discount just to get on with their lives (and apart from their ex). And in an estate sale, inheritors with no sentimental attachment to a property would probably love to have if off their hands, and since an inheritance is often treated like "found money" anyway, they may be less inclined to hold firm for a particular price.RE/MAX Mumbai Gujarat Maharashtra
  • 10. Attracting Buyers Via Seminars – First time homebuyers – Condominium Ownership for Seniors – Life Leases – Relocation – Buying a cottage/recreation property – Real estate as an investment – Buying property internationallyRE/MAX Mumbai Gujarat Maharashtra
  • 11. Timeline• Get in contact with potential partners• Create plan to hold seminar – Time – place• Establish team structure – Speakers – Timing – who will do what when?RE/MAX Mumbai Gujarat Maharashtra
  • 12. • Establish a budget – Who is paying for what – Refreshments, hall, a/v, advertising• Select a date and location – Book well in advance – Plan audio video requirements• Plan the seminar – Agenda – Videos – Registration – Guest speakers – Subjects coveredRE/MAX Mumbai Gujarat Maharashtra
  • 13. 6 Buyer Mistakes• Mistake #1. Not Pre-qualified.• Mistake #2. Don’t shop for a mortgage.• Mistake #3. Don’t get professional inspections.• Mistake #4. Don’t use a professional Sales Associate.• Mistake #5. Buy first.• Mistake #6. Don’t know the cost of buying.RE/MAX Mumbai Gujarat Maharashtra
  • 14. Thank YouRE/MAX Mumbai Gujarat Maharashtra

×