Call Types Agenda
Origination
Appraisal
Property Sales
PMR
Refi
Origination Call Agenda/Talking Points
- Review Client Goals and Objectives
- Review Pre-qualification and Proof of Funds
- Markets
- Outline Each Market
- Set Expectations for
- Cash Flows
- Appreciation
- Purchase Price Range
- TOP
- ROI’s
- Buying Process
- One on one with agent
- Climate of the market – competitive,
- Making offers and what to expect
- Going under contract and due diligence
- Talk up/sell the agent
- Offering over asking price
- Pro Forma
- Review the Pro Forma and answer any question
- Focus upon:
- TOP
- Average Annual Return
- Combined Cash on Cash Return
- Net Monthly Cash Flow
- Property Managers
- Review PMC basics and let them know we or the agent will introduce at time of appraisal
- Lending
- Set expectations about basic timeframes – 30 days from under contract to close
- Appraisals
- Set expectations about the potential for low appraisals, the appraisal addendum
- How we help readjust the pro forma and TOP when we have a low appraisal
Client Relations and Sales Tips
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- Let them know we are not here to twist their arm/pressure them into a property We want them to be confident in what they are doing.
- Put them at ease – make them feel confident in what we do and how we help our clients
- Leverage, address and run with their needs and objectives. We have a solution for what most clients want
- Be real, sincere, honest, and set realistic expectations.
- Convey that your job is to set realistic expectations
- Present, sell, give info on markets, properties, teams. Accentuate the positive. Our job is to sell our product, markets, and people. Once you have sold…. see below
- Ask for the business or commitment to move forward. Outline the next steps and what it takes to move forward and ask if they are ready.
- Once they have committed (you have closed this part of the sale) shut up and stop selling.
- After they have committed to the move forward – reassure and express confidence in their decision.
- Be excited, engaged, and enthusiastic. Clients get and sense if you are bought in and believe in our product. We rock!
Appraisal Call Agenda/Talking Points
Check in Call- Review the Appraisal and be able to speak to the following
- Appraisal equal to or higher than the purchase price
- Low Appraisal
- Next Step
- Confirm Closing Date
- Set basic expectations for closing
- Mobile Notary
- Closing Disclosures
- Wiring Money
- Talk about Property Manager
- Make introduction to PMC if not already done
- Talk about PMC process and fees
- Address Rehab
- Talk about PMC marketing for a tenant once rehab is complete
Property Sales Call
- Help client analyze whether to sell or not.
- Submit CMA request through SF. Get value, sales worksheet created, and whether we can Sell to Another Client
- Wendy will schedule with Client once we have the CMA, Sales worksheet
- Review options with client – selling on the open market or to another client
- If selling on the open market – need to give notice to PMC and not renew lease with tenant. Originate in SF 3-4 months before lease expires
- If selling to another client, Natalie/Angela will inform the agent to begin presenting to other clients. Originated sales opportunity in SF.
- Determine if client will be doing a 1031 exchange. If so, refer to 1031 exchange agenda/talking points.
PMR (Property and Market Review) Training
- Send PMR (Property and Market Review) to client before meeting
- Check in with client/build relationship
- Ask/check at a high level how their properties have been doing
- Give an outline of the meeting and ask if it is ok to proceed and if there is anything else they need to talk about
- Review PMR sheet with client
- How long property has been held
- Point out purchase price
- Property Value
- Percentage increase
- Outlook/forecast for market
- Review Property Options
- Continue to Hold
- Review Sales Options
- Review Refi Options
- Ask when their next purchase is. Document in notes and create task with follow up date
- Ask about Retirment Funds and potential to purchase
- Bring up Partnerships as appropriate
- Referrals – link sent
Refi Call Agenda/Talking Points
Preparing for a Refi Review Call
- During PMR (Property and Market Review) or other call when it makes sense do a refi review
- Request recent mortgage statement and send it to Wendy
- Wendy will create Refi worksheet and schedule call with client and AE
- AE will fill in the remaining fields of refi worksheet
Refi Agenda
- Review fields on refi worksheet to make sure client understands
- Review interest rates for rate and term and cash out refi as applicable
- Talk about 75% loan to value
- Talk about new mortgage payment
- Review cash flows on current property, how that will be impacted by a refi, and if buying another property how that new cash flow will affect overall portfolio cash flow
- Talk about process and timeframes for doing a refi… what to expect
- Create new task tracking potential new purchases or refi’s