Buyer Broker Presentation Script
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Thank you for coming in. I have a great deal of respect for your investment of time and I’ve got several goals while we are together here. Now my first goal is to understand exactly what you (both) are looking for.
If you could live anywhere in the world, where would it be? How many are people are moving with you? What do you do for a living? Do you work outside the home? What do you guys do for fun, pets, and I’m curious?
As you see up here on the screen, an exciting statement, we’re buying a home! As we go through this presentation I’m going to be clicking through the slides and you guys are going to fill in the blanks right along with me. See I find that when you fill in the blanks and are writing it down that you’re going to remember more of what you learned today. My goal by the way is to educate you. Educate you to the point you feel comfortable in making a buying decision.
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In this market you need a consultant vs. a salesperson. Let me ask, do you like to be high pressured into deciding? (No.) Nobody does. That is why our team has fully committed to the consultative approach to selling. I’ll present you with the options and you will make an educated decision. How does that sound to you?
Do you know what a Buyer’s Market vs. a Seller’s Market means? (No.) Well, being in a Seller’s Market that means the Sellers are getting about everything they want. And then some. A Buyer’s Market means that we get to beat the Seller up on their price. Right now, we are in a _________ market (explain the good and bad of current market)
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The average list price to sales price in this range is 97% which means this is what the seller is asking, and here is what they received and its 97% of their original request price. So, lets do some math: at ___ at ___ we come up with ___ which is what the seller is negotiating to on average. The reason I share the Averages with you is because I’d rather turn you down now than disappoint you later if you think you can offer $100k less than the asking price and actually expect to get it. Does that make sense? Ok so if we found that perfect home for you, and that seller is only willing to negotiate down to the ____ range, would that be ok with you guys?
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I’m going to outline the benefits to you as the buyer being pre-approved. Let me explain: Let’s say you’re the Seller and you have two offers on your home. One is a cash offer for the full asking price. And the other is $2,000 over the full asking price, but the Buyers haven’t been to see a lender yet. They haven’t had their credit checked and even the Realtor doesn’t know if they can qualify. You need to move to Florida in 4 weeks and you have to make a decision now. Which offer would you take? The sure deal for cash? Or take your chances to get an extra $2,000? The sure deal, right? (Yes.) Pre-Approval on a loan makes a sure deal, right? (Yes) Move to slides. At this point let’s get you scheduled with a lender here in town who will spend about 15 minutes with you, fill out the 10-03, run your credit and give you the thumbs up. Sounds good?
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Next, we’re going to discuss the buyer agency. 100% of my clients choose a buyer agency. The reason for that is because they understand the benefits and added value of giving me the leverage I need to get you the very best deal. Average list to sales price is____. I’ve tracked my averages over the last couple of years and you can see that my average is ___ %. So that’s a difference of ___% more than I’m going to save you than what the average agent in today’s market is. In fact, let’s do some quick math, $600k x 1.5% is $9,000. So that’s 9k that I’m going to save you over and beyond the average agent. All I do is work with buyers. My showing agent and myself are able to see more than 200 homes per month and we know the market better than anybody. So, when we get that picture of exactly what you guys are looking for, we should be able to get you inside it immediately.
One of the tools I use to make sure no homes slip through the cracks is the Buyer instant notification system. I’m going to input your criteria into the computer and every day when a new listing hits the market you will immediately receive an email, as well as me, and then we’ll chat and see if it’s something you want to see right away. We’ve all heard the expression the early bird gest the worm right?
What’s great about buyer agency is I get to answer you in a paragraph instead of a sentence. What I mean by that is – If I know what the Seller’s motivating factors are, such as a divorce or relocation, as a Buyer’s Agent I can tell you everything I know. Therefore, increasing your leverage in the negotiations. Now as a sub-agent to the Seller or a transaction Broker I can’t tell you anything. Which would you prefer? Can you see the benefit to having a Buyer’s Agent?
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The next step in the process is talking about the multiple listing service and all the listings you’re seeing on Realtor.com and how this process works. See all my fees are paid for by the seller. All Brokers Have Access to The Same Information and the biggest difference in brokers is the speed in which they get you that information. And because I specialize in working with buyers my showing agent and I get to see over 200 homes per month, so we know the market better than anyone. So, when that perfect home becomes available, we should be able to take you right to it.
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Next, we’re going to talk about for sale by owners. Many buyers feel they can go to a FSBO and negotiate a better deal and I can certainly understand that. I need you to call me first if you see a sign in the yard or an ad online. The reason is because FSBO’s will pay my commission because I’m going to call them first and negotiate my fee for service to give you the representation. They are going to pay my fee. The FSBO either pays an Attorney or a Broker to write the contract. But Attorneys are paid by what? (The hour.) I’ve seen Attorneys even get their clients into disputes so that they can charge more! I only get paid if you get the home. So, I want to see you close. Does that make sense? So, if you see that FSBO- can you call me first?
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Ok let’s talk about new home construction. Builder pays all my fees as well. Its part of their marketing budget and real estate agents sell around 70% of their product so they love working with us. Now I’m going to give you an open house guest pass. Now this is a business card size that basically says….. ______. Now the benefit is that the onsite sales person is going to call me and not you. And you don’t want every realtor in Prescott calling you right? Now the benefit to you is representation of course. Keep in mind that the agent/on site salesperson, they represent the seller, right? And I of course would represent you as the buyer, right?
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Now let’s talk about shopping for your home, this is the fun part! The average buyer looks at 5 homes before finding the right one. This might be less than what you’re used to however because I specialize in working with buyers. Once I get that picture in my mind for exactly what you’re looking for, we should be able to take you right to it. And you guys do want to see the best homes, first right? So, I’m going to save you time throughout this process. Don’t be surprised if the first home you see is the one you want to buy. The reason I tell you this is, if you are good at telling me what you want, and I listened to what you are telling me, it may very well be one of the first ones we see. Sounds good?
The most important key to finding that home is your feedback. So, when we get inside these properties- just open up to me, you’re not going to hurt my feelings I certainly don’t live there, and I definitely didn’t decorate it right? Just let me know what you guys are thinking. And based on your feedback I learn more of what you’re looking for based on what you don’t like versus what you do like. Make sense?
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The next step in the process is the purchase contract. Once we find that home we’re going to be submitting an offer. So, I’m going to go through this entire contract with you right now, so we can move quickly once we find the perfect home. So, I want to get comfortable with this form. Get really comfortable with it so that when we find the right home we can move quickly.
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Additionally, along with that offer you are going to submit interest money. Earnest money check. The amount of the earnest money check will be approximately 2% of the price. And you’ll see here that the offer will be cash- it will be deposited within 24 hours after the offer is accepted. Now I say 2%- if we fall in love with the property and there is a multiple offer situation, I’m going to encourage you to increase that earnest money deposit- the reason being is because if we come in $50k less or $30k less and we already know what the averages are- and we come under that average, well we need to show something in the offer that is going to give us leverage. So, I know you are planning on putting x amount down right? So, if you fall in love with the property and want to really beat the seller up on the price, why not increase the earnest amount to 10%, even 15% to give you the leverage you need. Of course, it will be my job to make certain this contract is written to where that earnest money is always protected.
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Once we find the home and get it under contract, the very next step is to complete a home inspection. Now the home inspection is for major items only. Meaning roof, plumbing, structure, safety type issues. Its not for, the carpets are dirty, I want a carpet allowance. See I’ve seen so many great couples like yourself lose out on the perfect home because they choose to step over dollars to pick up nickels. What I mean by that is, If I’m able to negotiate a very good deal on the property, generally speaking we can beat the seller up on the request price or we can beat them up on inspection items and it’s difficult to do both. So, when I get you under contract and we’ve done a good job of negating with the seller, chances are the deal might blow up if we ask for too many little things. Does that make sense?
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So, we’ve got the home under contract, we’ve completed the inspection, now its time to order the appraisal. Now the cost of the appraisal is paid for by the buyer and generally it’s $400. Now the best part of the appraisal is that you won’t overpay for the property. The way I’m going to write the contract is that the appraisal provision will apply. And let’s assume we go under contract at $600k on a property and the appraiser brings it in at $575k. The way we write the contract the seller has to adjust their house down to the appraised value or you can terminate the contract and get your earnest money back. So, when do you pay? You can pay right now which would save you another trip to the office. Have you brought your checkbook today? You can pay now or later. What would you choose to do?
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There is a difference between pre-approval which is what you are today and full loan commitment. Now once you have full commitment well really you have a reason to celebrate because that’s generally speaking the last contingency of any contract.
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Now let’s talk about the closing and what’s going to transpire. Have you ever attended a real estate closing before? As you know there are going to be hundreds of documents flying around and you guys I’ve attended thousands of real estate closings, and I want you to feel comfortable. If there’s something you shouldn’t be signing, I will stop the closing, I will pull you out of the closing room and we will address the issues ok?
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Let’s talk about the benefits of working with our team- you’re always working with a specialist. Now the benefits to you are knowledge, availability, and communication. See this is what the traditional realtor model looks like, where the real estate broker is kind of the center of the universe and you can see all of the balls that they are juggling from showing homes, to putting up signs, to listing homes etc. Now what we’ve done at the Bergamini Group will have you as the client and put you at the center of the universe. And we’ve surrounded you with a team of specialists that make your life a lot easier. Showing agent intro
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Now I want to outline our goals in the transaction as I see it. #1 is to get you the very best price possible. We want to get you to the closing table with the fewest amount of hassles as possible. And definitely do it within the time frame that you guys desire. Now based on the form you filled out you said you want to be moved into your new home in x months. And you are aware it may take us up to a couple weeks to get you under contract on a property and the general escrow period is about 45 days? So, we better get moving on this? Now what happens if we could close on a property inside of 60 days would that work for you?
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Referrals are the lifeblood of our business. Meaning I don’t make my living off of just selling you a house. I make my living off of making sure you guys are so happy that you are going to pick up the phone and call me anytime you have a friend or a family member who is thinking about buying, selling, or investing in real estate. So, who do you guys know right now who is thinking about buying a home, selling a home, or investing in real estate? Thank you for taking a moment to think about that. When you think about this, I want you to think about people from work or friends, school, church and fakebook. And when you do think of someone, will you call me? Periodically, and I hope you give me permission to do this, I’m just going to call you and ask who do you know who’s looking to buy or sell real estate? Because what I find is when you get into the market and start looking for a home, well all the sudden you find your cousin is looking for a home, your aunt and uncle are looking for a home. Does that make sense? So, would it be ok with you guys if I asked you in the future for referrals.
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So, let’s talk about the added value that we bring to the table. Now added value to me is over and beyond the normal real estate transaction. You get the added value of a team which makes a smoother transaction. You get access to all our team events, from parties/dinners during the year, our client appreciation party every year including a live band, dinner, and open bar. We have over 400 people attend every year so it’s a lot of fun. Also, the convenience of one stop shopping- we have great relationships with the title company, the lender and inspectors/contractors. You don’t need to do the research and drive all around town, we’ve done it for you. Now with all of that extra and added value, I’m certain that what’s going through your mind right now is how much is this going to cost you? Bottom line is, its absolutely free to you. The only thing I request is that I have the opportunity to negotiate on your behalf and of course what that requires is a buyer agency agreement. So, guys what do you think, can I be your real estate broker? Great, well let’s go through the buyer agency contract then.
