Watch this virtual real estate buyer presentation conducted by video conference to learn the scripts and techniques top realtors use to convert buyers into clients.
One aspect of our real estate business that has gone virtual is the buyer presentation. The COVID-19 crisis has pushed many realtors to embrace technology and begin to conduct consultations virtually. The buyer presentation is a perfect example of how business can be done easily via video conference. In fact, many would say that doing a virtual buyer presentation is actually easier, more convenient, and more efficient than in person!
Here is a great example of a real estate buyer presentation, conducted by Katie Fain. Katie is the Buyer Specialist on the Amber Rothermel Real Estate Team in Kansas City, Missouri. Amber has been a long-time coaching client of us here at Icenhower Coaching and Consulting.
Real Estate Buyer Presentation – The Virtual Consultation Process
Elements of a virtual real estate buyer presentation
Now that you’ve watched a great example of what a virtual real estate buyer presentation can look like, let’s break down the elements of what made it work.
Find a quiet setting to set up your video conference. Many of us are working from home right now, which makes this complicated. Just do your best to prepare your space to make the experience as seamless as possible!
Use proper video conferencing etiquette.
- Speak clearly and ensure that you have a good internet connection.
- Set up proper lighting. You don’t want your potential clients to be distracted or unable to see you clearly.
- Dress professionally. It doesn’t have to be fancy, but make some effort to look as you might look at an in-person consultation.
- Practice ahead of time. Make sure your camera is set up properly and learn the essential functions of your video conferencing software. Do a dry run with a friend if this is your first time!
Let them talk and take notes along the way. This is how you learn about your potential clients! Don’t dominate the conversation.
Now, refer to the buyer lead conversion process below for content you should cover during your consultation.
Real estate buyer presentation process
The only significant difference between an in-person real estate buyer presentation and a virtual one is video conferencing. Other than that, the same rules and scripts apply. Here are the six key topics that you should cover during your virtual buyer consultation.
1. Market conditions
Of course, making prospective buyers aware of what they can expect as a buyer in today’s market is essential. Your talking points should cover the local market conditions. Talk about the available inventory, buyer negotiating power, interest rates and local list price to sales price ratios. Set proper expectations up front during your real estate buyer presentation!
2. Loan pre-approval
Educate your clients on the impact that being pre-approved for a home loan has on purchase negotiations. Buyers that know what down payment amount and monthly payment they can afford will help them make more informed decisions. If your buyer has been unable to meet with your lender, use this opportunity to set the meeting. Do this before showing them property.
3. Define the agency relationship
Realtors should prepare buyers for specific situations that might jeopardize the relationship and commissions in the future. For example, home buyers need to know how to handle encounters with For Sale By Owner (FSBO) homes, open houses, and new construction builders. They should be aware of how the agency relationship is impacted in these situations. Talk about the consequences these situations may have on representation and commissions.
4. Ask for referrals
The highest rate of referrals comes from clients who are actively in the process of moving. Think about the last time you shopped for a car. You probably began to notice every other vehicle on the road. Clients preparing to move have a heightened awareness of other people looking to move, too. Therefore, this puts your chances of receiving referrals at an all-time high. During the home buying process, and even during your real estate buyer presentation, ask for referrals!
5. Establish home criteria and search process
Location, price range, and house features. These are usually the primary focus of a buyer consultation. However, it is just as important to establish parameters for the process in order to avoid an endless search. Time management is often the biggest issue during the buying process. It is vital that you set boundaries for showings to preserve your work/life balance.
6. Sign the exclusive Buyer Agency Agreement
Finally, the key to obtaining a signature on a real estate buyer agency agreement is all about presentation. Present it a matter-of-fact manner as if it must be signed prior to moving forward with showing homes. An exclusive buyer agency agreement entitles the agent to a commission. It specifies this if the client purchases a home within a given time period. This is the last essential piece of your real estate buyer presentation.
As always, the coaches at Icenhower Coaching and Consulting are here to support you. If you need advise or coaching on effective buyer consultations, reach out to us today for a free consultation. We can help you and your business move forward! We also have a self-guided online program that can help — the Buyer Lead Conversion course. You’ll find helpful tips, objection handlers, and scripts to guide you on your next real estate buyer presentation. Good luck!