As a real estate agent or broker, you are always trying to meet your marketing goals–even if you are good at it! Before every call, you strategize, look at recent activity, consider the audience, and make mental notes of negative client comments. But how much do you really know about your client? As a real estate agent, you know that a large portion of your work is done over the phone, meaning that you need to be aware of things real estate agents say. When you are talking with them on the phone, do you know what’s important to them? Or do you stop to take notes?
If you’re new to the real estate world, you’re probably wondering how to be a buyer’s agent in the best way possible. You might not have a clue on how to talk to real estate clients, especially when it comes to talking on the phone. If so, here are some tips for you as a buyer’s agent guide for beginners:
1. Ask Prospective Clients If They Already Have an Agent
When you call them on the phone, ask your prospective clients if they already have an agent. If they say no, try to get them to put you down as their agent. Don’t be discouraged if they already have an agent or your relationship with them is not that strong yet.
When you call your prospective clients, keep it short and simple. Don’t go on and on about how great your real estate company is or all the amazing features you offer. One of the best ways to capture their interest is by building rapport first.
2. Check If The Client Has Been Approved For a Loan
If you’re following up on an appointment, ask the client if they have been approved for a loan. This is very important as it will give you an idea of how fast they can close their deal. If they say no, offer to help them with the process. Talk to them about the steps that they have to do. By doing this, you’ll be able to build rapport and gain their trust.
3. Explain Why Getting Pre-approved is Beneficial
Explain why it is important for them to get pre-approved with their lender. If they are planning on buying a new house in the next 6 months, getting approved today will save them time during the home buying process later. By being pre-approved, you can also be confident about getting the best possible rate for your client if they need financing.
If they are curious about what happens during a pre-approval appointment, explain to them that it’s simply a meeting with their lender where they discuss their income, assets, and their ability to get a mortgage. They will also be given the actual pre-approval letter at this time.
4. See if the Client Already Has a Lender
Ask the client if they already have a lender. If they don’t, recommend that they shop around first. Let them know that there are many top-rated mortgage brokers out there who can get them the best deal on their home loan, and it’s advisable to compare rates before deciding where to apply for a mortgage. If you have a preferred lender, you can mention that as well.
5. Figure Out Who Is Purchasing the Property
Find out who is purchasing the property so you can learn more about the situation. Ask the client which of their relations is buying the property and how long they have known them. If the buyer is a family member, you can ask if it’s an investment or personal use.
6. Meet With All Parties Involved
Schedule a meeting for all parties to attend and learn more about the situation. During this meeting, you can learn details such as if the buyer is getting a loan or not. If the buyer isn’t getting a loan, you can ask about their financial situation. The more knowledge you have, the better you’ll be able to provide recommendations for them.
7. Describe how the Proprietary MLS System Works
As one of the essential tools for real estate agents, you need to explain how your MLS system works and the benefits of using it. To start, you can explain that most agents will find their own listings and just advertise them on social media or websites. However, the most effective way to sell properties is through the MLS system, which will expose a property to more potential buyers than any other method.
8. Spell Out The Process of Choosing a Home
A home buyer should be aware that there are many factors to consider when buying a house. You can explain to them the steps involved in buying a home and why it’s important for them to do their research early. Let them know that they’ll need to set a budget, find an ideal location for their needs, and determine whether or not they want a specific type of property.