This four-step method is simple yet effective:

  1. Prospect and Convert the Client
  2. Have the Lender Qualify the Client
  3. The Home Search and Showings
  4. Submit the Offer and Negotiate Terms

We will provide an overview of each step, then break it down into smaller components, including the forms you’ll need.

Step 1: Prospect and Convert the Client

This is the most critical part of the entire process and also the part new agents are often tempted to cheat or skip. Do not skip these smaller steps as they are essential for setting up future success. The substeps in Step 1 are:

  • Initial buyer script
  • Buyer interview
  • Setting a showing date
  • Conferencing in the lender
  • Sending important items to the buyer (e.g., buyer presentation, lender link, and buyer agreement via e-signature).

All these steps happen during the first phone call with the buyer. Use the Buyer Process Checklist to keep track of each step. You’ll need to have a checklist for each file, and you should initial it as you complete each step.

The Initial Buyer Script

Here’s where it all begins, and script practice is key. You need to internalize the script to focus less on reading it and more on reading the client. You should deliver your lines naturally, like an actor.

Example: “Hi, is this Mr. or Mrs. Buyer? This is Tim with the Ultimate Selling Team at Keller Williams Realty. I know you weren’t expecting the call, so I’ll be brief. Earlier, you registered on ultimatesellingteam.com to look at homes in the area. I typically set up an auto alert for new listings in your price range and area. Since there are thousands of homes on the market, I figured I’d help narrow it down so you only see the best ones. What kind of home are you looking for?”

The key here is mentioning that you’re filtering homes to send them only what they’re interested in. This will open them up to sharing more details with you.

Transition to Qualifying Questions

Once you’ve kept them on the phone, the next step is asking qualifying questions. You’ll discover their timeline, preferences, and needs. Remember, real estate is about solving problems for your clients.

Example questions:

  • Tell me about the house you’re looking to buy.
  • Do you currently own a home, or are you renting?
  • Have you seen any homes you like?
  • What’s your ideal timeframe for buying?

Closing the Call and Setting the Appointment

Once you’ve gathered enough information, you’ll move on to closing the call and asking for the appointment. Here’s an example of how to do that:

Example: “To help you get closer to your goal of finding the perfect home, let’s schedule a time to discuss your preferences further. I’ll pull up properties that fit your specific criteria, so you don’t waste time driving around looking at homes that don’t fit.”

This adds value by positioning you as someone who will save them time and effort. You’ll also want to set a showing date early to create urgency.

Step 2: Qualifying the Client

The second step is to have the lender qualify the client. This step has three parts:

  1. Conference the client with the lender – Ideally, you’ve already done this during the initial call. If not, it’s time to contact the lender and provide them with the client’s information. You’ll follow up with both parties until the pre-approval letter is secured.

The pre-approval letter is essential before showing homes. It ensures the buyer is qualified and sets the right expectations for price range and affordability.

Step 3: The Home Search and Showings

While the lender is qualifying the client, you can begin the home search. This step includes:

  1. If you’re using a showing assistant, ensure they conduct a buyer interview to understand what the buyer is looking for.
  2. MLS Search – Set up an auto-email to notify the client of new listings that fit their criteria.
  3. The 10-5-3 Rule – Have the buyer narrow down their list of potential homes to 10, then 5, then 3. Show the top 3 first, so they feel confident about putting in an offer early.
  4. Setting Up Showings – Once they’ve chosen their top 3, arrange the showings.

Step 4: Submitting the Offer and Negotiating Terms

After showing homes, it’s time to submit an offer. You’ll need to ask the buyer three key questions:

  1. Earnest Money Deposit Amount – Typically 1% of the purchase price, but this can vary.
  2. Offer Price – Based on market conditions and what the buyer is comfortable with.
  3. Seller Contribution – Whether they need the seller to contribute to closing costs (typically around 3%).

Try to put together the offer the same day while their interest is high. Send a summary email to the listing agent outlining the key terms of the offer (price, deposit, closing date, etc.).

Summary

This Four-Step Buyer Process is simple but powerful:

  1. Prospect and Convert the Client
  2. Qualify the Client
  3. Home Search and Showings
  4. Submit and Negotiate the Offer

By following this method, you’ll set yourself up for success, dominate your market, and ultimately cash those checks!

On behalf of the Ultimate Selling Team, we look forward to creating massive success together.