Sales 101
You’re on the phone while the investor is running numbers. Which of the following is the best soft close to secure commitment before the showing?
A. “So are you ready to move forward on this or not?”
B. “If the rehab checks out when we get to the property, are you ready to buy today?”
C. “Just a heads up, I’ve got a lot of interest on this one already.”
D. “Let me know what you think once you finish running your numbers.”
B. “If the rehab checks out when we get to the property, are you ready to buy today?”
An agent notices they’re consistently not getting investors to sign the disclosure after the initial phone call. What is the most likely reason?
A. The agent isn’t creating enough urgency around the deal
B. The agent isn’t clearly setting expectations before sending the disclosure
C. The agent is spending too much time on the phone
D. The agent isn’t building enough value and rapport before sending the disclosure
D. The agent isn’t building enough value and rapport before sending the disclosure
Before responding to a buyer’s objection, what is the first step?
A. Overcome the objection with facts
B. Isolate the objection
C. Redirect the conversation
D. Create urgency
B. Isolate the objection
Why does New Western want to hold the down payment instead of having it held at title?
A. To make the process faster for title
B. To ensure the buyer is committed and protect the deal
C. Because title companies are not allowed to hold deposits
D. To reduce closing costs for the buyer
B. To ensure the buyer is committed and protect the deal
Before walking a property, this should be asked for to confirm the buyer can actually close.
What is proof of funds (POF)?
An agent feels like they’re spending a lot of time showing properties, but investors are either low-balling or not buying. What is the most likely issue?
A. The agent isn’t creating enough urgency around the deals
B. The agent isn’t properly qualifying the investor before the walk through
C. The agent isn’t explaining the deal clearly enough
D. The agent isn’t setting expectations before the showing
B. The agent isn’t properly qualifying the investor before the walk through
After pitching a deal to an investor and them running their value over the phone, they say, “I’d probably be closer to $220K,” when the current asking price is $250K. What is the best response?
A. “Okay, I might be able to get it closer to that.”
B. “That’s too low, we wouldn’t be able to do that.”
C. “Got it—what specifically are you seeing that gets you to $220K?”
D. “I’ve got other buyers interested, so I’d move quickly.”
C. “Got it—what specifically are you seeing that gets you to $220K?”
Which section of the title commitment shows outstanding liens or encumbrances?
A. Schedule A
B. Schedule B
C. Schedule C
D. Schedule D
C. Schedule C
After finishing a call with an investor, failing to clearly define this is one of the biggest reasons investors start to ghost future conversations.
What is the next step?
An agent is disclosing an abnormally high number of investors each month, but isn’t converting them into sales. What is most likely happening?
What is they are most likely not qualifying the right investors?
An investor says, “I don’t like working with New Western—I’ve heard the deals are bad.” How should you respond?
What is acknowledge the concern, then overcome the objection by reinforcing value and using facts or examples?
If a buyer requests a rough estimate for closing costs, what should the agent do?
A. Estimate closing costs at roughly 1%–2% of the purchase price
B. Use the Spartan app to provide a rough estimate
C. Tell the buyer to wait until title provides final numbers
D. Estimate the costs manually based on past deals
B. Use the Spartan app to provide a rough estimate
When an agent lowers the price or improves terms for a buyer without the buyer asking, they are making what mistake?
What is negotiating against yourself?
An agent notices they consistently are selling a decent number of units per month, but their overall volume is lacking. What is most likely the reason for this?
What is they need to improve their performance at showings and also get better at negotiations on price?
An investor says, “I don’t want to sign any disclosures—just send me the deals.” How should you respond?
What is acknowledge the concern, then reinforce the process and explain that disclosures are required before sending deals?
What are the two fees included in our closing cost reimbursement?
What are the acquisitions fee and the funding fee?
Double Points
What percentage admin fees closed and double closes closed is need to particpate in the quarterly trip?
75% double closed, 80% admin fee
An agent notices that when it comes time to close on a property, investors are consistently asking for reduced closing costs or to waive fees. What is most likely the reason for this?
What is the agent did not properly set expectations on fees and terms upfront?
An investor says, “I don’t want to double close—just assign me the deals.” Handle this objection.
What is acknowledge the concern, explain the process, reinforce value, maintain control, and move forward without changing structure?
If a buyer is traveling out of the country during closing, what should the agent set up to ensure a smooth closing?
What is arrange a mobile notary or get them a scheduled appointment at the embassy?