This week my team and I are re-tooling and developing our buyer presentations. More than ever consumers need a brief and quality presentation on becoming a home owner. In this post I’ve outlined the essential elements of a buyer presentation and the formats your presentation must be in to ensure the highest probability of success. As you read this list please understand that a buyer presentation is not the same as a pre-qualification phone call or appointment. The presentation comes after you have established the prospect is someone you want to pursue a long-term relationship with.
Key Elements of a Buyer Presentation
Your Values and Approach to Business: This section should be brief overview of how you conduct business, your core values, your business schedule, and your commitment to open and frequent communication. Provide your clients with the various ways they can contact you. Include your Blog, Twitter, Facebook, Email, and Phone Numbers. Demonstrate confidence when presenting this section but also tie your values to your client’s values, needs and expectations.
Explanation of the Real Estate Market: Arguably, the most important section of your presentation and the one you should spend the most time explaining. Buyers need to know the direction of the market, inventory levels, seller expectations, offer price strategies, and the timing of the market before they write an offer. This is your opportunity to shine as a trusted advisor and market expert, don’t waste the opportunity.
Explanation of the Process and Negotiations: Most home buyers are unaware that it is taking 50% longer to close an escrow on a home than it did just two years ago. Buyers need to be aware of their obligations for out of pocket expenses (inspections), earnest money deposits, appraisal hurdles, and how negotiations work. The more thorough you are in this part of your presentation the less emotional drama and hang-ups you will have as you are going through the transaction. You cannot prepare your buyer for everything but you can ease their stress by laying out a timeline and a few what-if scenarios.
Financing Options for Buyers: Most clients today are unaware of the new down-payment requirements, gifting options, closing cost contribution limits, and other RESPA changes that affect financing a home in today’s market. Your presentation should briefly cover the basics of financing a home and should include a referral to and dare I say an expectation that your client will meet with your mortgage consultant. Your mortgage consultant must be someone that you trust and have a values match with. Don’t leave your transaction, client, and potential paycheck in the hands of a mortgage broker you don’t know and trust.
Tax Benefits for Home Buyers: Your presentation must include a brief section on the tax benefits that exist now for home buyers. Many consumers are unaware the federal tax credit was extended and includes credits not just first time buyers but existing home owners as well. Be careful not to give tax advice, save that for their CPA. Most mortgage consultants will provide you with an explanation of the benefits that can be co-branded.
Your Special Services and Value Ads: You don't want to foam at the mouth with all the special services and value ads that a consumer recieves when working with you but you do want to differentiate yourself from the competition. Focus on the services that truly bring value to the particular customer and the type of home they are interested in purchasing. Use this section of your presentation to show why Realtors are not a commodity and why working with you is in their best interest.
Sample Contracts and Forms: Don’t wait until your clients are ready to write an offer to show them the enormous stack of documents they will be required to sign. Include a sample contract with the key sections hi-lighted for their review. Ask them to take an evening to read through the contracts so when the offer is written they familiar with the general terms and conditions.
Three Formats of Your Buyer Presentation
Email-PDF Format – This format will allow you to attach your presentation to any email or have it be downloaded from your website.
Video Format: This is a new format for many of you but one that is not complicated to create. If you create your presentation in PowerPoint or Key Note you are able to save the presentation as a video file. These programs will allow you to record audio and will follow your slide timings when recording the presentation. Once you have saved the file in this format you can create a free account at YouTube or Vimeo to host your videos. They will also provide you with an embed code for your website and a link to your presentation for email.
Paper Format: This format is the standard format for most presentations. I usually have three to five of these printed versions in my car or briefcase ready to be handed out on short notice. Never hesitate to leave the presentation with the client.
Question: What are the key elements of your buyer presentation and what formats do you find most effective in getting it distributed?
Make it a great day!