Presented by Byron Thompson

The 5 Hour Buyer

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Core Values

Open and Honest Communication

Create a Memorable Experience

Relationships over Transactions

Embrace and Drive Change

Always Be Growing

Lead By Example

Be Humble

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Mission

Our mission is to redefine the standards of the real estate industry

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Pack up your table!

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Today’s goals:

• NAR Settlement CHANGES and what to do
• Understand why buyer’s presentations are VALUABLE
• Learn a buyer SYSTEM that will save you hours per client
• Learn a STRATEGY for presenting to buyers
• Learn low pressure language that WORKS!
• UNDERSTAND what buyers really value, and what is value?
• Buyer’s agent job is CERTAINTY not information
• Each of you takes away something that will SERVE you in your career

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How the 5-Hour Buyer works (pg 1 in your packet)

1. Hold Buyer’s Appointment (1-Hour Virtual or in-person)
1. Intro and Discovery
2. Process Presentation
3. Wants and Needs Analysis
4. Begin Virtual Showings (MLS Presentation)
5. Pulling Back the Curtain (Solds Presentation)
6. 1-Question Close
2. Show 1-5 Homes (3 Hours)
3. Negotiate and Sign Agreements (1 Hour)
4. Hand to Transaction Coordinator
5. Repeat 2+ times per month

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Why does this work so well?

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Welcome to your Meraki Home Consultation!

Meraki’s guide to the home Buying process

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Our 3 Objectives:

1. For me to understand your goals (Why? When? Where?)

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2. For you to learn the process (homebuying, Mortgage, inspections)

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3. Start the homebuying adventure!

Today’s Itinerary

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Let’s Discover Your Goals

• Motivation

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• Timing

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• Overall Goals

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*NOTE: Additional information is all in your Buyer’s Guide

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Your turn to practice!

**Use The Roadmap Script**

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Financing

• Mortgage Application

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• Obtain Pre-Approval

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• Closing Costs
• Estimated 2 - 4% of the sales price

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• Down Payment
• Depends on your loan type
• 0% up to 20%

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Is Your Lender Local?

Y - Great! You are absolutely free to use any lender you like!

N - There are some major benefits to using a local lender!

N/A - If you haven’t started this process, we can point you in the right direction

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Showings

• Choose your favorites

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• Set a Time to view

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• Ready to make an offer!

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Offers & Negotiations

• Analyze the market Value

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• Write up Terms

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• Negotiate Counters and Multiple Offers

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• 3 Payments in a Deal
1. Earnest Deposit
2. Inspection/Appraisal
3. Closing Funds

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Multiple Offer Strategies

• Pre-Approval
• Increase Offer Price
• Type of Financing
• Inspection Terms
• Comparable Sales
• Appraisal Terms
• As-Is Condition
• Increased Earnest Deposit
• Non-refundable Earnest Deposit
• Flexible Closing Date
• Seller Post-Occupancy

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Inspections

• Highly Recommended

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• They Work for You

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• Every Inspection Will Contain “Findings”

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• Identifies Potential Problems

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• 3 Inspection Responses

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Warning: Inspections can be waived, it is not recommended

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Closing

• Final Walk-Through

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• Title Company

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• Sign & Get Keys

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• Reviews and Referrals

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Do’s

• Provide Docs to Lender
• Make Regular Payments
• Keep current job
• Bring ID to Close
• Obtain Cashier’s Check for Close

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Do Not’s

• Use Cash Earnest Deposits
• Buy Furniture
• Buy a Car
• Take out Loans
• Move Large $
• Spend on Credit

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Now, Let’s Start Your Search!

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MLS Presentation

Solds

• Their Criteria, area, style, hopes and dreams
• Used to provide CERTAINTY around what their ideal home ACTUALLY sold for recently

Actives

• Their criteria, area, style, hopes and dreams
• Used to create FLEXIBILITY around their wants and needs

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• Q & A -

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The Results of the 5-Hour Buyer Process

• Buyers put in winning offers within 5 showings (68% of the time)
• Buyer’s admit to being more confident throughout the process
• Buyer’s timelines shrink, they are ready to go immediately
• Client’s change criteria to what they actually are ok with in minutes not weeks
• Agents can easily help multiple buyers at a time and LEAD the process
• Offers are consistently competitive for the market
• More reviews around professionalism and ease

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HOT TAKE: The NAR Settlement Segment

Facts Are Your Friends ( Top 3 Settlement Outcomes )

1. Buyer agency signature will be required
2. MLS will not advertise Cooperating agent compensation (Mid-July)
3. Brokerages under $2 Billion in Volume are protected from copycat suits

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The Action Plan

1. Do this Buyer’s Presentation (or “Consultation Meeting”)
2. Sign Buyer’s agency and get written permission to request compensation
3. Send compensation agreement with every contract (Think FSBO Compensation)

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HOT TAKES: NAR Settlement Outcomes (or so we think)

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• Closings will happen everyday, and prices will not go down
• Negotiating every commission (some deals will be more than 2.4%, some less)
• Your competition will discount to win multiple offers
• Negotiation is your ultimate skill, and good negotiators will make more per deal
• Certainty (not info & door opening) is your ultimate value as an agent
• GREATEST OPPORTUNITY IN THE HISTORY OF MODERN REAL ESTATE
• Within 2 years regulations will increase! You better Embrace and Drive Change

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Byron Thompson

402-890-8995

byron@merakirg.com

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Final Remarks

4 Steps To Mastery

1. Know what to do & How to do it
2. Practice Doing it (Roleplay)
3. Do it in Real - Life Conditions
4. Do it instinctively = Mastery

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PLEASE FILL OUT THE SURVEY & LEAVE IT ON THE TABLE