Agent Recruiting Presentation

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Hedges Real Estate Inc.
Before we talk about writing up the contract,
lets talk about what people want in a
Realtor Survey Results
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Survey Says! What people want in a Realtor

• Research from the National Association of
  Realtors April 2002 shows the following results
  about what Buyers and Sellers of real estate
  expect and want from their Realtor.
• Do you have these characteristics?
• If not, work hard to practice and develop the
  skills needed to get them.
• These are learned skills that take practice.

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Survey Says! What people want in a Realtor

• 1. I want a salesperson I can really trust
• Listens to understand special needs
• Knows the market
• Has a sense of eagerness
• Warm personality
• Flexible and Easy Going
• Candid without putting being fake
• Things that fail to build trust include
• Lack of interest
• Laziness
• Inexperience
• Lack of knowledge about the community

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Survey Says! What people want in a Realtor

• 2. Someone who will search out my dream home
• Shows the right homes
• Learn to help get clients articulate their
  unspoken needs Get them to tell you what they
  really want and why they want it. Ask more
  questions!
• Dont waste buyers time showing housing that
  dont meet their wants and needs.
• Someone who will guide the buyer throughout the
  process, educating them and pointing out
  potential problems and solutions to those
  problems.
• Defers to experts rather than trying to
  pretending.

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Survey Says! What people want in a Realtor

• 3. Someone who brings buyers to the table
• Sellers, of course, want the listing agent to be
  active in getting buyers to see and potentially
  buy the house.
• Provides lots and lots of feedback. Sellers want
  to know what is going on. No feedback they
  assume the agent is doing nothing and they get
  mad.
• Has a good instinct with buyers. Knows when
  buyers are showing signals of interest or when
  they are just lookers.
• Visible marketing. Sellers want to see what you
  are doing. Agents should give sellers copies of
  every marketing piece that is done on their home,
  including the MLS sheet, web pages, brochures etc.

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Survey Says! What people want in a Realtor

• 4. Someone who gives me breathing room
• Although they want a leader to take them through
  the process, buyers and sellers want the agent to
  step back and give them time and space to make
  their own decisions. The agent should do the
  research and provide the data, the customer
  should make the decision.
• Helps guide through the huge amounts of available
  information to get to the important stuff.

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Survey Says! What people want in a Realtor

• 5. A master manager of detail
• Completes the details and interprets the
  paperwork. Explain and/or handle the details
  when needed.
• I need a salesperson to lay out the process for
  me and explain everything.
• Agents who are sloppy with details and sloppy
  with paperwork only frustrate buyers and sellers
  further because they are already overwhelmed with
  the process. If the agent seems overwhelmed,
  they might pick a different agent soon.
• Agents must get organized before meeting
  customers.

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Survey Says! What people want in a Realtor

• 6. Someone who has great connections
• Buyers and Sellers value agents that have a
  circle of reliable resources in which they can
  tap into.
• Its not always what you know, but who you know.
• Getting a good reference from my salesperson
  gave me one less thing to worry about during the
  process. It took some of the pressure off.
• Agents should have a list of qualified
  inspectors, contractors, repair people, etc. to
  provide to their customers. Only give names of
  people you trust to do an excellent job.

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Survey Says! What people want in a Realtor

• 7. Expert at the negotiating table
• Buyers and Sellers want someone who will
  negotiate hard for their price.
• This is their most valuable asset and they dont
  want to trust it to someone they perceive wont
  stand up for them and help them get top value.
• Knows how far to push, but doesnt push too far.
  Upsetting the other side during negotiations is
  counter-productive. Makes everyone feel a
  win-win result.
• Does the research on price and marketing.
• Helps buyers and sellers get through the emotions
  of the process and focus on the task at hand.

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Hedges Real Estate Inc.
If you have a legal question Legal
Hotline [phone] Our password/member
LH03-77
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Hedges Real Estate Inc.
One of the best times in real estate! Writing the
Contract
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Before typing the contract

• Agency brochure to buyer (if not already done)
• Estimate of closing costs payment to buyer on
  this specific property
• Prepare one estimate at list price and another at
  their offer price if they are not offering list.
• Buyer agency agreement signed or list yourself as
  a Transaction broker.
• Download sellers disclosure off of the system.
• See checklist for a buyer side transaction.

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Estimate of Buyers Costs Payment

• Use our Estimate of Buyers Costs Excel
  Spreadsheet.
• Enter the price, loan type, loan amount and
  interest rate. The spreadsheet calculates the
  rest.
• Give a copy to buyer. Signed copy to our file.
• See Buyer Documents Selling on the For Agents
  Only section of HedgesRealEstate.com
• Practice using and explaining this form so you
  are ready to use it for real buyers.

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Writing up a contract

• Use appropriate contract
• Use form and hand write or type on computer.
• Forms
• New construction Contract
• Contract forms
• Other addendums
• Go through contract on computer

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Hedges Real Estate Inc.
Introduction to Tape 12 Purchase Agreements
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Major Points

• Win-Win Negotiation Strategies
• Techniques for offer presentations
• How to handle
• The low offer
• Counteroffers
• Multiple offers

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Importance

• This is perhaps the most enjoyable presentation
  in real estate.
• This is the last act in the play of real estate
  sales.
• Here is where the rubber meets the road. All
  that you have done with buyers and/or sellers
  comes together at this one point.
• This topic is the most sensitive in terms of
  local laws, company policy and board rules
  traditions. Be careful not to step on toes.
• Listing agents ask Buyer agent to leave before
  discussing the offer with the Seller.

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Key Ideas

• Most homes sell for list price or within 2 of
  list price here.
• Some homes sell for more than list price.
• Some homes sell for thousands more than list
  price.
• A seller doesnt have to accept an offer even if
  it is the list price. The other terms must be
  acceptable also.
• Work at getting the parties to understand how the
  offer might look from the other point of view.
• Dont let emotions or egos get in the way of a
  transaction. Keep the focus on the actual
  written terms of the agreement. Discuss it in
  terms of net to seller.
• Keep the discussion about numbers and dates, not
  about people. Dont let buyer and seller get mad
  at each other.

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Buyer Paperwork - Practice Scenario

• Homework Handout. Please work on the practice
  scenario to see if you can go through all the
  buyer paperwork from start to finish.
• Dont expect it to be perfect the first time
  through, but go ahead and finish all the
  paperwork the best you can. Fill in as much as
  possible.
• We will review them next meeting.
• Good luck. Hopefully, you will doing a contract
  for real buyers soon, so this practice will be
  helpful.

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Watch Purchase Agreements Video 37 Minutes