Sales is Easy
Before offering a solution to a buyer’s objection, what clarifying question should the salesperson ask?
What is “Can you tell me more about that?”
This document identifies a homesite’s dimensions, property lines, easements, fencing, transformers, streetlights, and other important lot features.
What is a plot plan
This temporary financing incentive reduces the buyer’s effective interest rate by 2 percentage points in year one and 1 percentage point in year two.
What is a 2/1 buydown
What does DRE Stand for?
Department of Real Estate
A salesperson who talks about every feature without connecting it to the buyer is doing this instead of selling benefits.
What is feature dumping?
A buyer wants to convert a downstairs office and powder room into a bedroom and full bathroom after the foundation has been poured. Why is it too late to make this change?
What is The home has passed the structural or foundation cutoff. Adding a full bathroom would require new plumbing and possibly cutting into the concrete foundation.
A buyer purchases a $400,000 home and puts 10% down. This is the resulting loan amount.
What is $360,000
$400,000 x 10% = $40,000
$400,000 - $40,000 = $360,000
What does APN stand for?
Assessor’s Parcel Number
A salesperson who finishes a great presentation without asking for a decision has failed to do this.
What is close or ask for the sale?
This fun and exciting walk-through with a homebuyer happens after all the mechanical systems have been installed and before drywall goes up
What is a frame walk or pre-drywall walk?
These 4 components make up a mortgage payment (Assuming impound account)
What is PITI
Principle
Interest
Taxes
Insurance
What does PUE stand for?
Public Utility Easement
Price is the amount the builder asks the buyer to pay; this is the buyer’s belief about whether the home’s benefits, experience, and lifestyle improvement are worth that amount.
What is value?
A salesperson who understands construction stages can create urgency for buyers without using pressure by explaining this.
What are upcoming option deadlines and construction cutoffs?
A builder offers an interest-rate buydown that costs $50,000.
Approximately how much would the builder have to reduce the home’s price to create the same reduction in the buyer’s monthly payment?
What is $100,000?
A rate buydown can reduce the monthly payment more efficiently than an equal price reduction. That’s why builders often offer financing incentives instead of making large price cuts. Actual results depend on the loan terms and interest rate.
What is an ARM?
Adjustable Rate Mortgage
A successful new-home salesperson who uncovers the buyer’s motivation, connects the home to a better future, establishes value, reduces fear, overcomes objections, discusses payments and cost, ultimately does this.
What is closing the sale?
A great new-home salesperson uses this combination of documents and tools to help a buyer understand what will be built, where it will sit, what can still be changed, when decisions must be finalized, how much it will cost, and when they will move in,
Name at least three.
What are:
Plot Plan
Neighborhood Plot Map
Floorplan
Cutoff Schedule
Options Available Report (Master Option List)
Mortgage Calculator
Estimated Completion Construction Schedule
A builder’s preferred lender may offer buyers these valuable advantages beyond what a typical outside lender can provide. Name at least three.
What are:
exclusive interest-rate incentives or buydowns, closing-cost assistance,
familiarity with the builder’s contracts and timelines,
smoother communication
greater certainty of an on-time closing
Seamless communication between lender and builder
What does ABC stand for in regards to sales?
A Always
B Be
C Closing