Monday Musings – Your Pre-Commitment Buying Incentive

By
Real Estate Agent with Dirt Road Real Estate SA676002000

People buy. Realtors sell. Sometimes those who are involved in selling including within the real estate market ignore this premise.

 

To encourage people to buy, they must first buy you. Then they must buy your company. Next, they must buy your sales solution. The fourth “buy” is your delivery. Finally, they must buy the price.

 

Buying you is the beginning of building trust because people buy from people they know and trust. There are many ways to build trust.

 

Barbara Todaro educates those in this group about using a FREE marketing analysis which builds trust. A recent blog posting by Michael Jacobs suggests FREE when implemented correctly can also build the sales relationship.

 

To have people buy you does require an investment of your time. For example, constructing a free market analysis does take time. In my real estate practice, I have created a simple marketing packet with information about:

 

  • Showing schedule if more than one property is involved
  • The property or properties (MLS information)
  • What differentiates Dirt Road Real Estate
  • Sample of Arizona sales contract
  • Information about free range and open carry

 

This marketing packet allows for the buyer to add additional information from me such as a market analysis.

 

Sales Coaching Tip:  The market analysis is a great way to learn and increase your knowledge about the surrounding properties especially in a high velocity market.

 

For those moving from another state into AZ, this information becomes valuable. This marketing packet is a subliminal pre-commitment buying incentive.

 

Also, with the inclusion of the AZ purchase contract I can schedule a time to review the sales contract and answer any questions. My goal is to incentivize the client to buy me first. Then having them “bought” me, having them buy the solution becomes much easier.

 

With the ongoing references by buyers to automated valuation model (AVM), to believing the data from the Internet is accurate and potential inherent distrust of salespeople including Realtors, developing and securing an incentive for buyers to trust you becomes even more essential.

 

Graphic courtesy of Pixabay

Posted by

Leanne M. Smith, MS, GRI, rCRMS

2018 KGVAR Rookie Realtor of the Year-55+
219.508.2859 MST
Life Begins Where the Pavement Ends
Connect with me on LinkedIn:
http://www.linkedin.com/in/leannehoaglandsmith
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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Barbara Todaro 03/09/2020 06:14 AM
Topic:
Real Estate Sales and Marketing
Tags:
marketing
trust
sales contract
real estate
market analysis
automated valuation model
sales coaching tip

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Rainmaker
81,972
Leanne Smith
Dirt Road Real Estate - Golden Valley, AZ
Relocation to NW AZ with elbow room & more freedom

Totally agree Barbara Todaro as marketing is part of the sales process.  Earning trust begins with how one attracts clients and then leads to building the relationship.  Good morning as well.

Mar 09, 2020 06:13 AM #2
Rainmaker
3,555,235
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Leanne - thank you for the mention.  Your plan is one that is built over time and based on successful results as well as knowledge.  

Mar 09, 2020 06:13 AM #3
Rainmaker
81,972
Leanne Smith
Dirt Road Real Estate - Golden Valley, AZ
Relocation to NW AZ with elbow room & more freedom

My pleasure for the mention Michael Jacobs I thoroughly enjoy sharing the knowledge of others.

Mar 09, 2020 06:38 AM #4
Rainmaker
321,304
Shirley Coomer
Keller Williams Realty Sonoran Living - Phoenix, AZ
Realtor, Keller Williams Realty, Phoenix Az

Great article on what all agents should do.  I always do a buyer consultation so my buyers understand the process and answer any questions.  The buying process varies from state to state (ie AZ isn't an attorney state as are many on the east coast and midwest). When buyers haven't purchased a home in several years, the purchase contact itself may have changed. It is always good to explain a process ahead of time.

Mar 09, 2020 06:46 AM #5
Rainmaker
2,091,079
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Leanne Smith - people love to buy but only if they buy you.  The role of assistant buyer puts you on the same side of the table. Congratulations on the feature 

Mar 09, 2020 07:31 AM #6
Rainmaker
707,433
Laura Filip
Laura Filip Broker , Opening doors for All Seasons of Life - Whitesboro, TX
What can we do for you today?

Thank you for sharing the article, preparing oneself for the process of buying and selling is very important. The delivery of what one has to say is important as well. 

Mar 09, 2020 08:16 AM #7
Rainmaker
678,046
Peter Mohylsky, The Beach is closed but I am open.
PrimeSouth Properties - Santa Rosa Beach, FL
I AM STILL OPEN FOR BUSINESS ALONG THE BEACH

I'll buy from you after we have met and built a relationship over time.  

Mar 09, 2020 08:55 AM #8
Rainmaker
1,340,384
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Leanne Smith - Sometimes we forget all the steps involved in listing a property.  This is a good way to point out the process. 

Mar 09, 2020 09:06 AM #9
Rainmaker
1,865,960
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

I love all your ideas on how to help a buyer "buy you." Contratulations on the feature.

Open houses also can help. I had a buyer contact me last night; we had met at an open house in January, she and her husband remembered liking me, and when I followed up with an email letting her know of the pending sale, that cemented their trust. They saw a condo yesterday that they like and asked me if I could help them. I'm sure you know my answer!

Mar 09, 2020 09:20 AM #10
Rainmaker
227,555
John Henry, Florida Architect
John Henry Masterworks Design International, Inc. - Orlando, FL
Residential Architect, Luxury Custom Home Design

To encourage people to buy, they must first buy you.

WOW!!!!!

Mar 09, 2020 11:27 AM #11
Rainmaker
2,826,391
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

In my experience they definitely need to be sold before they’re on anything 70% of the time or so.

Mar 09, 2020 01:30 PM #12
Rainmaker
2,826,391
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

John Henry, Florida Architect that’s why I was basic but accurate statements on sales really ever.

Mar 09, 2020 01:31 PM #13
Ambassador
940,841
Lynn B. Friedman
Atlanta Homes ODAT Realty Call/Text 404-939-2727 Buckhead - Midtown - Westside -- and more ... - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Leanne Smith 
Congrat's on your Feature!
I am ready to 'buy' your approach.
All the best - Lynn

Mar 09, 2020 08:16 PM #14
Rainmaker
179,138
James (Jim) Lawson, DBA
DomainRealty.com LLC - Bonita Springs, FL
Broker Associate, RSPS, BPOR, HI & PE

Your post is very much on the mark Leanne and important to always keep in mind. However, there are always intangibiles. Even highly effective agents get jilted at times. Last year I provided a strong CMA to a super senior widow during a listing presentation. She didn't like my true market value estimate which had a $20K range. She was outraged that I was 17% lower than her number at the mid-point. I offered to go with her number provided we move in the direction of my numbers in a timely manner according to market response. Thirteen months and two agents later it sold  exactly at my mid-range number. So sad since she wanted a quick sale to get back home to her daughters. I would not be surprised if some of you have had similar experiences. 

Mar 09, 2020 09:03 PM #15
Rainmaker
95,132
Kris Collis, Associate Broker
Smart Way America Realty - East Stroudsburg, PA
Professional Results you Expect 702-574-8102

Leanne Smith Thanks for a great post helping realtors understand their role in educating buyers to overcome the slew of misinformation they have been exposed to.  We do that with real-life information addressing their needs and wants that they can apply immediately, just like the list you provide buyer.  Many buyers in your market will experience how this approach sets you apart and benefit from your services.  Much success!

Mar 09, 2020 11:57 PM #16
Ambassador
866,136
Mimi Foster
Falcon Property Solutions - Colorado Springs, CO
Voted Colorado Springs Best Realtor

On your Sales Coaching Tip - what are you doing a market analysis on? Like a market report or an individual house they want to see?

Mar 10, 2020 03:14 PM #19
Rainmaker
499,786
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

This says it all Leanne Smith 

To encourage people to buy, they must first buy you. Then they must buy your company. Next, they must buy your sales solution. The fourth “buy” is your delivery. Finally, they must buy the price.

Mar 10, 2020 07:14 PM #24
Rainmaker
398,297
M.C. Dwyer
Century 21 Showcase REALTORs - Felton, CA
MC Dwyer-Santa Cruz Mountains Property Specialist

Congratulations on the feature!    Yes, the first step of the process in real estate is earning the client's trust.    I enjoyed reading the contents of your package, especially, What differentiates Dirt Road Real Estate.

l even looked up your website because I was intrigued - great job!   But how come it only features Elise Harron and not you?

Mar 11, 2020 10:24 AM #25
Rainer
562,776
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Selling yourself first is so important in Sales business!!!

To encourage people to buy, they must first buy you. Then they must buy your company. Next, they must buy your sales solution. The fourth “buy” is your delivery. Finally, they must buy the price. Buying you is the beginning of building trust because people buy from people they know and trust. There are many ways to build trust.

Mar 15, 2020 05:23 AM #36
Rainmaker
2,826,391
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

You kind of have to be able to not live without it or see yourself in it in a way that is part of you.

Mar 25, 2020 10:09 PM #37
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Leanne Smith

Relocation to NW AZ with elbow room & more freedom
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