7. WHAT TYPE OF BUYER ARE YOU?
Like to Buy,
Not in Hurry,
Checking out
the Market
-Open Houses
-Internet Research
-MLS Email Alerts
-Open Houses
-Internet Research
-MLS Email Alerts
-House Tours
-Making Offers
-Open Houses
-Internet Research
-MLS Email Alerts
-House Tours
-Make offers
-Win Offers 99.9% of
the TIME
Important during a
Low Inventory Market
I need a
House, But
not willing to
Over Pay
Need a House
Now, Willing
to do whatever
it takes
BOX #1 BOX #2 BOX #3
8. ●Average List price to Sales price ratio is:
105% OR 95%
●Listing Inventory is from the
same time last year.
Down, -2.6%
●When Inventory is price goesDown, Up.
$500,000
x 105%
$525,000
●When Demand goes prices goUP, UP.
MARKET CONDITION / INVENTORY
$500,000
x 95%
$475,000
9. PRE-APPROVAL FOR YOUR FINANCING
● to you the Buyer
●Turns you into a Buyer
●Saves you
●Gives you in a multiple offer
situation
●Gives you
Cash
Benefits,
Money
Leverage
Confidence to buy
10. SHOPPING FOR YOUR HOME
●The average Buyer looks at homes
before finding the right one.
●The most important key to finding the right
home quickly, is your
TEN
Feedback
11. FOR SALE BY OWNER / NEW
CONSTRUCTION
●Call me Why?
●For sale by owners will pay my commission
●Attorney or
- usually will charge by the
First.
Real Estate Broker
Hour
12. YOU FOUND THE PERFECT HOUSE…
NOW WHAT?
●We write up our Purchase Offer along with some
Disclosure forms, initially. (more forms to fill out later)
●Include our Earnest Money Deposit
●Pre-Approval Letter & Proof of Funds
●Love Letter to the Seller
By the Deadline, the Seller will do, One of Four things…
#1 Accept your offer as written (Yahoo!)
#2 “Counter” your offer with changes (to price, terms, dates, etc…)
#3 Reject your offer
#4 Ignore your offer (Yes, this is rude)
13. EARNEST MONEY DEPOSIT
●This is a check you write with the offer. It will be
cashed within of your offer being
accepted. (Into Escrow)
●Earnest Money amount will be between of
the total offer price.
72 hours
1-3%
●For example: $400,000 x 3% = $ 12,000
14. TIME LINE – CONTINGENCY REMOVAL
Day30
Day1
Day10
Day12
Day14
Day17
Winning Offer Standard
Offer
15. INSPECTING YOUR NEW HOME
●In your inspection, it’s the stuff that really
matters. For example:
● Cracks or crumbling in the foundation
● Cracks inside the house over windows
● Water stains in ceilings, floors, or walls
● Faded or worn shingles
● Mold issues
Big
16. APPRAISAL OF YOUR HOME
●The purpose of the appraisal is to prove to (you)
and your Lender, that the house is worth what you
have agreed to pay for it.
●If appraisal comes in “LOW”
At that point 4 Scenarios can happen:
1. Seller can agree to Reduce the price.
2. Buyer (you) can pay the difference
between appraised value and purchase
price.
3. Buyer and Seller can negotiate
4. You can Back-Out.
For example:
Purchase price = $400,000
Appraised value = $390,000
Difference of = $10,000
17. LOAN APPROVAL
●Pre-Qualification – not good enough
(general info over the phone)
●Pre-Approval – Letter needs to be included with offer
(paystubs, W2’s, bank-statements, tax returns,
credit check)
●Full Loan Commitment – safe to remove loan contingency
●During this whole process buy anything or
pay off anything that could alter your CREDIT Score.
DO NOT
18. CLOSING TIME
●Preclosing responsibilities include:
• Appraisal, survey, title search, and title insurance.
• Keeping yourself mortgage worthy!
• Doing a final walk-through of home.
●What to bring during Close of Escrow:
• A certified check for closing costs and down payment. Make the
check payable to yourself; you will then endorse it to the title
company at closing
• An insurance binder and paid receipt
• Photo IDs
• Social security numbers
19. MY SERVICES I PROVIDE MY BUYER
CLIENTS:
• Buyer counseling
• 24-hour availability (well, almost) to answer questions, address concerns, show
houses, deliver contracts
• Daily check for new listings
• In depth explanation of all contracts and disclosures
• Detailed, easy-to-read descriptions and pictures of homes
• One hour response time to emergencies, 4 hours for non-emergencies
• Up-to-the minute comparable sales information when preparing an offer
• Strong (but friendly) negotiation on your behalf
• Preparation of offer, immediate favorable presentation of offer, negotiation with
seller’s agent, strict adherence to dates and deadlines, assistance with arranging the
inspection, review of title insurance requirements, review of closing figures,
arrange and attend closing, ensure that possession is delivered satisfactorily.
• Constant communication during the negotiation process
• Access to my handyman, decorator, cleaning service and other contractors.
What else can I do for you?
20. HOW I WORK AND GET PAID
●How do I get paid?
●All of my fees are paid by after the deal is closed
●All Realtors have access to the same
●The biggest difference between Realtors is their
the Seller
Information
Customer Service approach, Communication Skills,
Negotiating tactics, etc…
22. Winning Contract
Title
Company
Lender Buyer
All at Once
-Home $500
-Roof $200
-Chimney $165
-Sewer $250
Anytime
-Pest $250
OMG!
Inspection
Report
Results
Vendors
Quote for
Repairs
Pizza Time
Request for
Repair given
to Seller
Total Cost $$
Agent & Clients
3-5 Hours
Inspections
Escrow
Check
Contract
Schedules
Appraisal
Accepted
Rejected
B.F.F’s for the
next 30 Days
Negotiated
Remove
Contin-
gency
High (good)
Low (bad)
Remove
Contin-
gency
23. REFERRALS – The Life Blood of our Business
Who Do You Know?
Work?
