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Fundamentals in Real Estate Series Part – 4 Working with S

The appointment with a buyer or seller is something you need to prepare for and what many Sales Associates take for granted. If you are not closing at least 50% of your appointments you need to re-evaluate your presentation. If you have done a good job with your presentation, the customer should enter into a contract with you. Presentations must be the same every time to develop a selling system that can produce predictable results.

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Fundamentals in Real Estate Series Part – 4 Working with S

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  1. FUNDAMENTALS IN REAL ESTATE SERIES PART 4 WORKING WITH SELLERS Pranav Pandya Franchise Development Manager RE/MAXMumbai Gujarat Maharashtra

  2. RECAP • Part 1 - Getting Started • Nature of the work • Market trends • Become the Sales Associate of choice • Four reasons why Sales Associates fail • Sales Associate mission statements • Goals • Marketing plan

  3. RECAP • Part 2 - Marketing • Needs and wants of consumers are changing • The brand • Marketing a service • Building relationships • Marketing rules • Personal promotion • Specialize • Elements for your marketing plan

  4. RECAP • Part 3 - Prospecting • Repetition • Seek opportunities for leverage • Six steps to getting started • Farming • Direct response marketing • Expired listings • For Sale by Owner • Ad/sign call system • Open houses

  5. TODAY’S AGENDA • Presentation to a seller • Pre-listing package • Listing package • Presentation steps • Pricing • Negotiating with sellers • Cutting commissions • Follow-up system • After closing • How to avoid the eight biggest selling mistakes

  6. PRESENTATION TO A SELLER

  7. QUESTIONS TO ASK SELLER • Are you planning to interview more than one Sales Associate? • Where are you moving to? • When do you have to be there? • Will you describe the property in as much detail as possible? • What improvements have been made to the property?

  8. LISTING PROCESS • Two step listing process • One step listing process

  9. PRE-LISTING PACKAGE

  10. pre-listing package includes • Introductory letter • Testimonials/references • Performance history - Yours, RE/MAX office, market, competition • Market share graph • Sales to list ratio • Time on market • Sales volume • Dangers of overpricing • Promo pieces on you and/or RE/MAX • Sample marketing pieces • Listing agreement

  11. LISTING PACKAGE

  12. Letter to client from you • Listing agreement • Disclosure forms • Comparative Market Analysis (CMA) • Company brochure • Personal brochure or resume • Sample property brochures, feature sheets, flyers • Testimonials/letters of reference

  13. Information pieces • Why use a Sales Associate? • Remodel or sell? • Dangers of overpricing • Market statistics • Your marketing plan • Service guarantee • Performance history (use office numbers if you are a new Agent). • Professional designations, education courses and certificates received.

  14. Seller’s Guide - May include information described above plus: • Steps in the selling process • Preparing your home for sale • The agency relationship • Pricing • Seller’s Checklist - items you need to market home • Showing information • Open House procedure information • Lawyers • Cost of Selling • Deducting your move (tax information)

  15. PRESENTATION STEPS

  16. Preparation and research • Call and confirm appointment • Establish seller’s objectives • Presentation • Sales Associate selection • Confirm asking price • Explain & sign the listing agreement

  17. Establish trust • Determine the seller’s motivation • Experience and expectations • Length of your presentation • Seller questions • Sell your credentials and marketing plan • Listing or marketing plan

  18. PRICING

  19. Current Market Conditions • Buyer’s market • Balanced market • Seller’s market • Sale to List Price • Average Sale Price Trend • Total Homes Listed Versus Sold • Seasonality

  20. Condition of the Property • Staging • Other Factors in Pricing – Location, Size and Amenities • Initial Impression • Taking Overpriced Listings • Dangers of Overpriced Listings

  21. NEGOTIATING WITH SELLERS

  22. Overcoming Objections • Seller Objections • Cutting Commissions • Commission Objections

  23. FOLLOW-UP SYSTEM

  24. Set up a weekly or bi-weekly market report for your active listings. • Set up an aggressive price reduction campaign

  25. AFTER CLOSING

  26. Customer Satisfaction • Handling Complaints

  27. HOW TO AVOID THE 8 BIGGEST SELLING MISTAKES

  28. Wrong Price • As-Is Condition • No Curb Appeal • Not Making Your Home “Fit to Sell” • Lavishly Over Improving • Not Using a Professional • Not Disclosing Defects • Play Hardball

  29. THANK YOU

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