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1
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2
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- You found a buyer, at least you think you have found a buyer.
- You have to qualify that buyer.
- You have to determine if the buyer and you can work with each other.
- If you can work with each other you have to get the buyers commitment.
- If you can’t work with each other let them go.
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3
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- Buyers act like buyers. They want
to buy, they get realistic very quickly, they show up for appointments,
they look when they are supposed to look.
- Buying is foremost in their mind.
They have a down payment, they are honest about their finances,
they are not vague.
- BUYERS act like BUYERS
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4
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- The first thing you have to do after you determine that the buyer is a
buyer, is determine how much of a loan they can get, estimate their down
payment, and estimate their acquisition costs.
- If everything is realistic in those four areas you can determine if they
will honestly work with you and only you.
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5
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- Can they get a realistic loan?
- Do they have a down payment?
- How much of a down payment will they need?
- How much will their closing costs be?
- Are they going to be loyal to you?
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6
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- Loan qualification is another class.
In our examples today, we want to determine if we can actually
work with the buyer.
- Assumed in this class is that they are well qualified.
- We need to qualify their loyalty to you.
- We will need an Exclusive Authorization & Right to Acquire.
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7
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- The most important part of your buyer interview is that you establish,
and contractually enter into an agreement with the buyer to be your
“Exclusive Buyer”. If you don’t do that you will not last long working
with buyers, and you should concentrate on listings.
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8
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- At this point you have to tell the Buyer how you work.
- Explain step by step, dialogue by dialgue how you work, what you do, and
you MUST ask “is that something that you would like?
- When they agree you move on. When
they disagree you query, “and why’s that?” or .. Let me see if I
understand what your saying?
- Ask – Repeat - Resume
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9
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- At this point you have to tell the Buyer how you work.
- Explain step by step, dialogue by dialgue how you work, what you do, and
you MUST ask “is that something that you would like?
- When they agree you move on. When
they disagree you query, “and why’s that?” or .. Let me see if I
understand what your saying?
- Ask – Repeat - Resume
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14
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15
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- Robert Rooks (Rob) has in excess of 24 years in the real estate
industry, 22 years as a Real Estate Broker/Appraiser. His background includes the
development of 206 Condominium units at La Habra, California in 1974-76,
where he also practiced general real estate and enjoyed selling single family homes,
commercial real estate and apartment buildings.
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28
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