How to Motivate Buyers to Make an Offer

We explain buyer management and extracting offers, emphasizing structured conversations, engagement tracking, and timely action.

• identify buyer type and current housing situation, prioritizing buyer-sellers as the highest-value leads
• follow a structured digital prospecting sequence, providing price updates and assessments to build professional trust
• ask outcome-focused questions during property tours to gauge engagement, timing, and price expectations
• extract offers by discussing price, terms, settlement, and deposits upfront, reverse-engineering deals to ensure feasibility
• leverage timed auctions and digital sales to create urgency, allowing early offers while notifying all participants
• use data-driven insights from inquiries, saves, and engagement metrics to guide conversations and validate buyer interest

A practical guide to managing buyers effectively, building trust, and securing offers using structured questioning, digital tools, and time-sensitive sales strategies.

Hosted by Lee Woodward Training Systems

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Transcript

Lee Woodward: 0:01

Hello and welcome back to the podcast We Are Selling. My name's Lee Woodward of Realtair, the home of Pitch, Sign and Sell, the platform for real estate professionals. Today's tip is in the area of buyer management and extracting offers. When we're working with the purchasing community, it's important to have a laser focus on the outcomes of each conversation and what you are hoping to achieve from each appointment. So for example, whenever you meet a purchaser or you get that inquiry, the first thought or outcome is do they have a trade-in of a property they would be releasing to purchase their next one? That is point one. Do they have a trade-in? To uncover that fact, you would ask that question, the property you're in now, are you going to hang on to that one? Or an orum pause, everyone finishes the sentence for you. And they could say, No, we do need to sell, but we want to find somewhere first, or they're living with parents, or they're renting. But everyone has a current situation, or what is known as a current housing in your database, meaning rent, parents, own or other. Now, if they are a buyer seller, which is the very best grade of lead in your database, don't jump in for the appraisal now because that's not why they called you. And as discussed on our program before, another great term for appraisal is to see if they'd be open to an assessment in the future. As a professional, it's very important you know how many buyer sellers you are carrying at any given time, as that is our greatest opportunity of future business, of listing that trade in and generating opportunity. And if you are a pitch user, you would follow our digital prospecting sequence, which is where you say to the purchaser, at some stage in the future, I'd love to do an assessment on your property, which is where we look at what it would rent for, what it would sell for, and what improvements can be made on the home. However, let me help you today. At the end of this phone call, I will send you a link to what is called a price update. And that will show all the surrounding sales of your home mathematically, what the pricing is doing, just to keep you in the loop and give you a guide to the value of other properties around you, which ultimately determines that mathematical value of your own property. Out of dialogue for a second, by following this sequence, you are building professional trust, and professional trust is the only way we can extract offers, which is what this coaching tip is all about. Our next outcome that we want is to understand the buyer engagement level. And buyer engagement is about price and time, and remember, price equals time. So we need to ask some brilliant questions that we are doing as we tour around the property and demonstrate the home's features and benefits. And the great thing about touring around the home and asking great questions is it does break eye contact and they will give you those moments of truth of timing. Have they bid another auction before? When do they need to be in there? But these questions are critical. Let's go through some of our winning questions so we know how to deliver that at the appointment. Question one is can you see yourself living here? Or ask that question as you're walking through the property and you've gone to one of the best parts of the house. Say how does this feel? Feel is a great word. Second question, does the property suit your needs with regards to the features we've discussed? Now this is an important question as someone could be looking out of their range, what their expectation is of buying a property with all those features, yet their pricing's nowhere near it, and it's very important to find that out. But let me just rattle a stack of questions off and you can decide which ones you like. Is there a price that you would pay for the home? Would you like to try and buy it? How does this compare in value with other homes that you've seen? What's the best home you've seen so far? Why didn't you buy it? If you saw the perfect property today, what would you do? Regardless of which property you buy, are you familiar with the buying process and how it works? Which home loan company have you chosen? This property seems to meet all your needs, doesn't it? What time frame for relocating do you have in mind? Does a ten week settlement period cause you any concern? Have you selected a good real estate solicitor? Do you have a wish list of features that you would like in your new home? If we list a home that we believe would come close to meeting your requirements, are you able to get some viewing time through the week? Allow me to provide you with our purchase a guide. I suggest you buy this one. Out of dialogue for a moment? So those questions you can pick which ones suit you best. But what we're really achieving here is ramping up this opportunity to extract an offer. So for example, right now in our stabilized change market, you have a lot of the purchasers saying, Yeah, the market's settled now, we're waiting for this to come down because the prices are dropping. We've been watching the media and we're going to get a bargain. Whenever you hear that, this is the perfect opportunity to extract the offer. When they say they're waiting for it to come down because of the media and so forth, you just say this. How much would this have to come down to for you to buy it? And when they mention a number, just say, is that your offer? And they'll say, Would the owner accept that? I don't know. I just want to be clear that you are putting an offer forward and you would proceed at that pricing level. Would you like to try and buy it? Extracting offers is about starting the conversation. When you're showing four or five properties in a row, another great question is to ask if they were all free, which one would you take? Another angle in extracting offers is to have a conversation beyond the price. Meaning John and Helen, just suppose we did achieve agreement on price. What does settlement look like for you in the area of time? Will it be six weeks? Will it be ten weeks? Okay? And how would you be paying the deposit? Is that with your funds or are you going to use a bank bond? Out of dialogue, by working beyond the price and getting into the terms, you are now extracting the offer, but it's reverse engineered. You're making sure all the terms work because the prices are relevant. If we can't get the timing right and the deposits and any conditions that they may have, we don't have a deal. So working beyond price is another way of extracting offers. And as we know, real estate is all about attract, engage, and commit. And over these last six weeks, I've seen some incredible sales happen due to the digital sale. Timed auctions, time sales. This brilliant new technique of selling provides the ticking clock to the sale. And when we look at a time sale, a timed auction, people know there is a deadline coming up, and this is how you can extract the offer. However, don't make the error of waiting till the end. If it's a timed auction, on day one, the auction has started. They have a paddle, register to bid and make that bid. In the time sale or timed auction, it's actually the greatest opportunity to extract the offer or the bid. So for example, we had a scenario only a couple of weeks ago where an agent had a person wanting to buy the property, and that person then said, I won't be round in two weeks when the timed auction ends. My approval's running out, I need to do something now. To which in a digital sale, the agent's able to respond and say, Well, give me your knockout bid, scan the QR code, I'll approve you to bid on the property, and give me that offer now. If that becomes acceptable to our owner, we will move the timeline back till tomorrow. Everyone will be notified and you will own the property. But as we do that, everyone does get notified, and this is what generates the interest. You don't have to wait till the end, you can extract offers along the way. And be it time sale or timed auction, this is the greatest part of the marketplace, and the results are incredible. And that concludes our podcast coaching tip for today on extracting offers. I'm Lee Woodward. Thank you for choosing Realtair. If you'd like to know anything more about the timed auctions and time sales and how the platform facilitates that, please go to Realtair.com, book a demo, or call the Service Centre on 1300-367-412. Thank you for listening.