Welcome back to America’s #1 Daily Podcast, featuring America’s #1 Real Estate Coaches and Top EXP Realty Sponsors in the World, Tim and Julie Harris. Ready to become an EXP Realty Agent and join Tim and Julie Harris? Visit: https://whylibertas.com/harris or text Tim directly at 512-758-0206.
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Now that you are required to operate at a higher level of professionalism on the buyer side, how will you proceed? Do you have systems in place, or are you still doing different things for different people, flying by the seat of your pants, or even worse, doing nothing because the confusion of today’s market paralyzes you?
It’s time to systematize the buyer side of your real estate practice. The goal is for you to consistently work with well-qualified, motivated, and committed buyers who have signed your Buyer Agency Contract and are ready to find a home with you!
The 8-Step Buyer System to Skyrocket Your Success:
1. Generate the Lead
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- Action Step: Assess where your buyer leads currently come from—referrals, the internet, social media, open houses, or elsewhere. Determine what you’re spending per lead and evaluate your ROI. Are your lead sources efficient, or is it time to diversify?
- Pro Tip: Invest in tracking tools or CRMs to measure lead efficiency. Shift focus toward higher-quality, lower-cost lead sources.
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2. Furiously Fast Lead Follow-Up
- Action Step:If the lead comes via voicemail, email, text, social media, or referral, please follow up as soon as possible. Prioritize a voice call, then secure a face-to-face or Zoom meeting for your buyer presentation.
- Pro Tip:Speed is critical. Leads that are followed up on within 5 minutes are more likely to convert. Have templates ready for calls, texts, and emails to boost your response time.
3. Prequalify Your Buyer Leads
- Action Step:Use a proven buyer prequalification script. Ask these key questions:
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- Are they selling a current home?
- Are they working with another agent?
- What’s their financing situation (cash, mortgage, pre-approved)? What’s their maximum budget?
- What’s motivating them to buy now?
- What’s their ideal timeline?
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- Pro Tip:The goal is to uncover if they’re serious and ready to act. Prequalifying filters out “tire kickers” and helps you focus on serious buyers.
- Send Your Pre-Buyer Appointment Package before your meeting.
4. Present Your Buyer Presentation
- Action Step:Conduct your Buyer Presentation in person or via Zoom. Cover the essentials:
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- Explain the buying process: lender conversations, differences between prequalification, preapproval, loan commitment, when to begin seeing homes, and how appraisals/inspections work.
- Set mutual expectations: Outline what you’ll do for them and why they must commit to you exclusively as their buyer’s representative.
- Establish their goals: Discuss must-haves vs. deal breakers, especially if multiple buyers (e.g., spouses) are involved.
- Discuss compensation: Explain how commission works and how it could be covered—seller-paid, builder-paid, or out-of-pocket. Negotiate the best scenario for them.
- Pro Tip: Use a buyer’s net sheet to outline all possible costs (inspection, loan fees, etc.) and secure their signature on the Exclusive Buyer Representation agreement.
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5. Schedule Showings or Create a Task List
- Action Step:Set up showings if they’re ready to see homes. If not, help them with a task list, like meeting an accountant, getting financing in order, or preparing their own home for sale (staging, etc.).
- Pro Tip:Be proactive—don’t wait for them to be ready. Offer solutions to their obstacles so you can move forward quickly.
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6. Negotiate and Go Pending
- Action Step:Actively negotiate on your buyer’s behalf when they’re ready to make an offer. Use your expertise to secure the best possible terms and take the deal pending.
- Pro Tip:Keep buyers informed at every stage of negotiation. They will grow confident in you when they see you fighting for the best deal.
7. CLOSE the Deal
- Action Step:Once the transaction closes, don’t disappear. Capture the moment by recording a video testimonial or collecting a written one. Ask for referrals: “Who else do you know that could use my help?”
- Pro Tip:Leverage the excitement of the moment to build your pipeline with referrals and testimonials.
8. Lather, Rinse, Repeat
- Action Step:Don’t stop at one deal. Use the systems that worked for one buyer and replicate them for the next. Constantly refine your process to make it more efficient.
- Pro Tip:Consistency is critical. Perfecting your system allows you to serve more clients without burnout. Need tools or help? Sign up for Premier Coaching to access turnkey buyer presentations and prequalification scripts.
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By following this 8-Step Buyer System, you’ll create a streamlined, efficient process that builds trust, removes uncertainty, and positions you as the leader your clients need to guide them through the buying journey. The result? More confident buyers and a steady flow of successful closings.
