Tips To Nail Your Buyer Presentation

Winning buy-side business is essential to success in real estate. That's always been a constant. 

However, with the upcoming commission rules changes anticipated to come into play in August of this year, calling for buyer agents to lock in their success fee with the buyer prior to partaking in revenue-earning activities, like writing offers, there's a good chance agents will be doing more presentations to win the buyer relationship and justify their fee.

So, imagine you are sitting face to face, perhaps at a coffee shop near where the buyers live, talking them through your presentation points and the buy-side process.

How will you prepare?

What will you talk about?

How do you make sure you are delivering the type of experience that gets potential buyer clients to feel comfortable moving forward with you?

Here are some key tactics and tips to give you an edge helping your buyers achieve their real estate dreams.

Establish Credibility from the Start

Whether they realize it or not, buyer prospects will be sizing you up from the very beginning of your interactions. Establishing credibility up front is crucial - how you handle initial communications, the information you convey, and even how you coordinate the buyer presentation appointment will paint a picture of you as a true professional that has either earned the opportunity to handle their real estate dreams, or not. For best results, be prepared to showcase your professionalism and expertise throughout you communications, and anticipate likely questions and have crisp answers and talking points at the ready.

Absolutely Know Your Buyer Agreement

With the upcoming changes, discussing and conveying information on the buyer representation agreements in your market will be heightened. Expertise and truly knowing your agreements has always been table stakes in real estate, but with the upcoming changes its importance will be increased. You must be able to adequately address any questions or concerns that your clients may have, as your expertise in the agreement will breed confidence and boost conversions. Conversely, there's no quicker way to undermine your credibility when buyer prospects ask you a question on the agreement and you don’t know how to answer.

Come with Strategies

In today's competitive and challenging market, buyers are seeking an advantage and want to know what key strategies and tactics you can offer to help them achieve their dreams. Many buyers feel that the odds are stacked against them and are looking for an edge. Be prepared to discuss specifics on how you can help them close the gap from almost having the home to seizing the opportunity. This could include strategies for multiple offers situations that help your clients win the bid, or if the market is slower how your negotiation skills can help them save or get more consideration with inspection negotiations, for example. Another hot-button will be your lending partner - make sure they are strong and they know how to handle your clients or an optimal experience. Buyers are concerned about rate, affordability, making sure they’re not getting taken advantage of, and it can sting to have a subpar lender ruin your hard-earned buyer relationship.

Come with Solutions

With the new changes in place and agents having to lock in a success fee with buyers at some point prior to offering, buyers will naturally be looking for options to offset, minimize, or otherwise negotiate that fee. Be prepared to discuss different scenarios: for example, the buyer may be on the hook for the commission amount, but the agent’s first effort will be negotiate to get the fee covered by the seller (not the listing agent, more than likely commission sharing from the listing agent to the buyer agent will be frowned upon by regulators), and if the seller doesn’t cover it, then the buyer will. Perhaps you may have it structured that a seller covered commission amount will be higher than what the buyer would have to cover out of pocket. This will be a hot-button - make sure you have a solid understanding on what a buyer can expect as encounter the industry changes come August and beyond.

Educate Buyers on The Critical Role an Agent Handles from Contract to Close

While finding the perfect home and getting under contract takes plenty of doing, it's essential to emphasize the often-overlooked importance of the under-contract to close phase. This is where a good agent shines, as thousands of dollars and even the transaction itself can hang in the balance. Educate your clients on the value you bring during this stage, highlighting your expertise in negotiations, pushing along difficult lenders, heading off inspection issues or appraisals coming in short, etc. Help buyers understand that a skilled agent can make a substantial difference in the smoothness and outcome of the transaction, reducing stress and minimizing the risk of costly mistakes. By clearly communicating your role and demonstrating your commitment to their success, you'll reinforce the trust and confidence your buyers have in your abilities, setting the stage for a successful closing and a satisfied client.

Track and Share Your Success Metrics to Reinforce Your Value

As buyers may be more selective moving forward, it's essential to differentiate yourself by showcasing your proven track record of success. Keep a detailed record of your performance indicators, such as your under-contract ratio, offer-to-list ratio, and the amount of money you've saved your clients through skillful negotiations. When presenting to potential buyers, use these concrete numbers and success stories strategically to reinforce your credibility and value proposition. Share specific examples of how you've helped past clients navigate challenging situations, secure their dream homes, or save significant amounts of money. By providing tangible evidence of your success, you'll instill confidence in your ability to deliver exceptional results and help your buyers achieve their real estate goals. Remember, in a world where trust is paramount, your success metrics are a testament to your dedication, expertise, and the value you bring to the table.

Remember What You Bring to the Table

In today's competitive market, buyers are seeking an advantage and want to know what key strategies and tactics you can offer to help them achieve their dreams. They want to feel like they have an advocate as well as someone who's going to be quick, savvy, and not miss out on opportunities. Amidst the hullabaloo about what an agent truly does, buyers want you to be nimble, looking out for solutions to "make things happen" when it seems like the odds are often against them. Let's not forget, a good agent can find things and create opportunities that a lesser agent walks past. With so much riding on the right real estate strategy and outcomes for buyers - after all, it's one of the most significant personal and financial decisions they will make - your role is invaluable. In this new era of real estate, remember the immense value you bring to the table as a buyer's agent.

In closing, securing clients in real estate has always been a challenge, and it's crucial to make the most of every opportunity you create. With the upcoming rule changes, you'll likely find yourself giving more formal presentations to potential buyers, covering representation terms and success fees in greater detail. Being well-prepared for these discussions will help you address buyer apprehensions and build their confidence in moving forward with you.

This moment will be a crucial link in your path to success. While filled with pitfalls it is also your chance to shine and set the foundation for a successful relationship. By strengthening your presentation skills and approach, you'll be better positioned to succeed in this evolving market. These tips are designed to support you in this journey, helping you turn these opportunities into lasting client relationships and continued success.

For more information, reference NAR Settlement FAQs.

Related post: How To Get Your Buyer Representation Agreements Signed