Inman Join is transferring from Las Vegas to San Diego in 2025 and it’ll be larger, higher, and bolder than ever earlier than. Be part of us July 30-Aug. 1, 2025, with the brightest minds in actual property to form the way forward for the trade. Reserve your spot at present for an unique low cost.
Uncertain talk worth in a buyer-broker presentation? Crew chief Andrew Undem has the reply as he shares his “8 pillars of worth” purchaser presentation that succinctly communicates the worth he brings to his purchasers all through the shopping for course of.
“You win enterprise by way of your status or your preparation. Ideally each, however you have to be ready, previous to the chance, to have the ability to clearly state the worth you convey,” stated Andrew Undem, managing associate and workforce chief of SURE Group with Berkshire Hathaway HomeServices Homesale Realty, serving the Baltimore Metro space.
Undem continued, “Everybody is aware of that bond and rapport, making different folks comfy, is essential, however you’ll be able to’t make different folks comfy till you’re comfy. You have to develop into unconsciously competent, and that solely comes by way of preparation.
Undem communicates his worth by explaining his “8 pillars” of the shopping for course of, which creates a framework for the reason of every and the way he brings worth to every.
1. Mortgage preapproval
The method of shopping for a house begins with mortgage preapproval. Undem offered the next script for instance of how he communicates worth when explaining this portion of the method:
“Whenever you’re going to purchase a house it’s essential to grasp all of the mortgage choices and totally different packages accessible. Right here in Baltimore, numerous instances consumers don’t know they will get grant cash, down fee help, and even tax credit with sure mortgage packages which might be accessible. There are such a lot of choices that I can help you to find that may unlock some worth for you within the mortgage course of.
“One of many elements of worth we convey to this a part of the method is to grasp what packages you may qualify for and to help you in not solely getting preapproved however in getting your belongings verified. That is doing heavy lifting earlier than you begin the method of seeing houses in order that we will work with the lender to assist us convey to the vendor how robust you’re.
“So proper from the beginning, we are going to work to save lots of you cash by discovering mortgage packages and particular loans that suit your wants. We may also enable you to discover a mortgage associate that may assist us current a proposal that’s compelling to the vendor.”
2. House search
Undem then moved to his second pillar, which is the house search portion of the method. Skipping the portion everybody is aware of, like constructing rapport and figuring out their needs/wants, he went proper into the language he makes use of to convey the worth he brings.
“Ask the query: ‘Whenever you’re trying to find houses, how are you doing that now?’” Undem stated. “Most will reply on Zillow, Realtor.com or one other search portal on-line. That’s nice, however that’s precisely what everyone does. The issue is that that doesn’t embody most of the coming quickly listings and off-market stock.”
Right here’s what it is best to say to the client:
“You need to completely maintain trying that means, however you’re solely seeing houses an agent has put within the MLS that these web sites have pulled from the MLS, and it is just a portion of the general market and the houses that may be purchased. Most brokers are going to attend for a house to indicate up on the MLS, present you that residence and acquire their price.
“We convey worth by sharing all of the potential houses on the market with our purchasers and dealing behind the scenes to offer you details about houses earlier than the opposite consumers that you may be competing with to search out the most effective deal for you and your loved ones. Do you know we will see all of the houses that somebody wished to promote that didn’t promote? These are known as both expired or canceled listings. We need to take a look at these.
“Pocket listings are houses which might be making ready to come back in the marketplace; we community with different brokers to find out about these. New development listings are often on a portion of the houses and flooring plans a builder has accessible. We work to search out these alternatives for our consumers as effectively. Because of this through the search course of, it can be crucial for me to know what you’re in search of so I can start to offer you a full view of all of the houses accessible.”
3. Market dynamics
The following pillar is market dynamics. Right here’s how he explains this phase to consumers:
“As you’re trying to find a house, you want to perceive the market dynamics. The market dynamics are the connection between lively listings, houses which might be underneath contract, and the houses which have offered. If you’re narrowing in on a selected city, neighborhood or college district, it’s good to know a number of issues about that particular space.
What’s the common list-to-sale ratio?
“This helps us perceive if the common purchaser is paying rather less than record value, record value, or just a little greater than record value. Historic knowledge is essential as a result of it helps us create a compelling supply as soon as we discover the appropriate residence for you.”
Are there any closing prices sellers on this space have been paying for the consumers?
“We are able to see this by trying on the historic gross sales knowledge. The nationwide information shares what is going on nationally, however it’s extra essential to grasp precisely what is going on in your required micro space. I need you to grasp the micro market dynamics higher than most actual property brokers in order that we will get you the most effective deal doable.”
4. Supply analysis
Undem continued:
“As soon as we discover the house, my job is to shift the main focus to supply analysis. My job is to assemble as a lot info as doable so we will create a compelling supply that will get you the most effective deal.
The analysis I need us to grasp contains, however isn’t restricted to:
-
- How lengthy has this residence been in the marketplace?
- What number of showings have they been getting?
- Why is the vendor promoting?
- Are there any vital dependencies for the vendor by way of the time-frame for a sale or gross sales value?
- What did they pay for the house after they purchased it?
- What kind of financing did they get after they bought the house?
“These are all items of knowledge we will use and probably leverage to get you the most effective deal doable.”
5. The elements of a proposal
As Undem transitioned into the following pillar, the elements of a proposal, he stated this is likely one of the most compelling parts for brokers to speak worth.
Right here’s what to say to consumers:
“When most individuals discover a residence that, as an illustration, is priced at $400,000, they are saying, ‘I ponder if they are going to take $380,000?’ That’s a superb query, however value is barely one of many 5 elements of a proposal. These embody buy value, closing prices, contingencies, deposit and settlement date.
“The acquisition value is apparent. We’re going to make the most of all of the analysis info I discussed earlier to recommend a proposal value that helps you purchase the house on the lowest value doable. The closing prices are the prices related to shopping for the house, together with mortgage bills, title bills, deed switch charges, and a number of other different purchasing-associated charges.
“Because of the variety of transactions we do, I can direct you to the suppliers with the bottom prices and leverage our dimension to supply as many of those bills as doable at a reduced value.
“The contingencies are notably essential. My job is to guard you thru the method and the contingencies are one of many methods we do that. You’ll nearly all the time have a contingency on a house inspection, a contingency in your appraisal, your mortgage and some other contingencies we have to shield you.
“Consider, after we come to an settlement to buy a house, we’ve the appropriate to purchase that residence, we wouldn’t have to purchase that residence. The vendor solely has one home to promote, we will purchase any residence we determine to purchase. Due to this fact, we’re not going to present our energy away, and we’re going to shield you thru the method by the contingencies we make the most of within the supply.
“The fourth element is the earnest cash deposit. Typical in our market is 1 p.c, however we might regulate this primarily based on how we could possibly improve the attractiveness of your supply. The final element is the settlement date. By understanding if there’s a timeframe the vendor wants to maneuver by or if having some extra time for closing is fascinating to the vendor then we will regulate our supply in a solution to probably accommodate them on this space to get what we would like in one of many extra elements.
“As soon as we’ve the supply collectively, the presentation of the supply is one other solution to make your supply stand out from others. We submit each supply in an organized style together with teaching the itemizing agent on current our supply in the very best means. The e-mail contains one clear PDF, with our verified approval, with an easy-to-understand abstract of the supply. This makes the job of the itemizing agent simpler and exhibits him/her that we’re going to be straightforward to work with.”
6. Contract interval
In relation to the contract interval Undem will say to consumers:
“As soon as we’ve a signed contract, all of the dates develop into stay. We’ve got a selected period of time to use in your mortgage. We’ve got a selected period of time to have your property inspection executed. Every step of the best way, our total residence companies ecosystem goes to become involved.
“This contains the lender, the inspector, the appraiser, the title firm and anybody else concerned within the transaction. That is the place our administrative strengths by way of my workforce are going to maneuver this transaction to settlement whereas sustaining your safety all through the method.”
7. Settlement
Right here’s how Undem explains the settlement:
“On the settlement, one of many elements of worth we convey is our relationship with our settlement attorneys, who assure to offer you the bottom charges, will settle anytime, wherever, at your comfort and can work to get you a reissue fee if doable.
“A reissue fee is as a result of the vendor of the house, normally, has a title insurance coverage coverage in place from after they purchased the house. By requesting a duplicate of that coverage, which most brokers don’t do, the settlement attorneys could possibly make the most of that coverage to offer you a reissue fee that may be considerably decrease than buying a very new coverage.”
“I’ll work to drive your closing prices down in each means doable as a result of I can successfully handle all the actual property ecosystem.”
8. Publish-settlement
Undem wrapped up the abstract of his purchaser presentation with the next:
“The closing of the house is just the start for my companies, and I’m right here for you if you happen to want something. You want a contractor, a painter, a mover, something, you’ve entry to our clients-only residence companies information in order that we will proceed to help you with something you want going ahead. Do you’ve any questions on this course of and something I went over?”
For extra info on Andrew Undem, take a look at his web site.
