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Buyers Consultation Outline

Congrats on getting a buyer’s consultation secured! The objective of the consultation is to get to know your client better, reduce their stress level through education, and create a plan for finding them their home. Our first rule of thumb for anything, is get them talking first! Get informed before you launch into educating.

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Find Out What Your Buyer Knows

“Have you bought or sold before?” If they have never bought before: “I will cover the process in order but first, what itching questions do you have?” then “What scares you about this process?” “Have you ever heard any horror stories about the buying process?” Probe until you get something! If they have bought before: “What was your experience like?” “Anything you remember from it?” if nothing, go into asking… “What scares you about this process this time around?” If you have not met with them, cover your 5 W’s first

The Art Of Finding A Home

· It’s the process of elimination

· Cover time expectations

· Discuss when properties go on the market (weekly & seasonally)

· Dry run

· Video tours to save the buyer’s time

Offer Process

  • What is an offer?
  • What type of markets dictate what types of offers?
  • Risk tolerance
  • What are contingencies?
  • Earnest Money
  • Inspection Contingency
  • Financing Contingency
  • Appraisal Contingency
  • Other market appropriate contingencies or property specific
    • Septic / Well Contingency
    • Contingent Offers
    • Waiving of Contingencies
  • What to expect from me in the offer process.

Out Of Pocket Costs

  • Cover timeline of when funds are due for each item
  • Earnest Money
    • Money now not additional money
    • Applied to your cash to close
  • Home Inspection
  • Appraisal
  • Specialists Inspection Costs

 

Cash To Close

  • Down Payment
  • Closing Costs

 

How Does Everyone Involved Get Paid?

The answer should be short and straight forward, VERY blunt.

  • Explain how many people are involved in the process
  • How brokers get paid
  • What occurs when there is no, or low, advertised commission

 

Escrow & Closing

  • Cover who and when communication happens
  • Communicate the importance of buyers response time to all parties
  • Final Walk Through
  • Signing
  • Keys

 

Refine Your MLS Search Together

  • How big a net are you going to cast?
  • Fields we don’t want to sort by
  • Inventory expectations

Resource Guide: The list of people involved in the process

1. Buyer Broker

2. Buyer Managing Broker

3. Lender

4. Lender Assistant

5. Processor

6. Underwriter

7. Escrow Closer

8. Escrow Assistant

9. Title Officer

10. Home Inspector

11. Insurance Broker

12. Appraiser

13. Notary

14. Listing Broker

15. Listing Managing Broker