Fundamentals in Real Estate Series Part – 4  Working with Sellers
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Fundamentals in Real Estate Series Part – 4 Working with Sellers

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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 ...

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 Sellers Fundamentals in Real Estate Series Part – 4 Working with Sellers Presentation Transcript

  • FUNDAMENTALS IN REAL ESTATE SERIES PART 4 WORKING WITH SELLERS
  • RE/MAX Mumbai Gujarat RECAP  Part 1 - Getting Started o Nature of the work o Market trends o Become the Sales Associate of choice o Four reasons why Sales Associates fail o Sales Associate mission statements o Goals o Marketing plan
  • RE/MAX Mumbai Gujarat RECAP  Part 2 - Marketing o Needs and wants of consumers are changing o The brand o Marketing a service o Building relationships o Marketing rules o Personal promotion o Specialize o Elements for your marketing plan
  • RE/MAX Mumbai Gujarat RECAP  Part 3 - Prospecting o Repetition o Seek opportunities for leverage o Six steps to getting started o Farming o Direct response marketing o Expired listings o For Sale by Owner o Ad/sign call system o Open houses
  • RE/MAX Mumbai Gujarat 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
  • PRESENTATION TO A SELLER
  • RE/MAX Mumbai Gujarat 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?
  • RE/MAX Mumbai Gujarat LISTING PROCESS  Two step listing process  One step listing process
  • PRE-LISTING PACKAGE
  • RE/MAX Mumbai Gujarat PRE-LISTING PACKAGE INCLUDES  Introductory letter  Testimonials/references  Performance history - Yours, RE/MAX office, market, competition o Market share graph o Sales to list ratio o Time on market o Sales volume  Dangers of overpricing  Promo pieces on you and/or RE/MAX  Sample marketing pieces  Listing agreement
  • LISTING PACKAGE
  • RE/MAX Mumbai Gujarat  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
  • RE/MAX Mumbai Gujarat  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.
  • RE/MAX Mumbai Gujarat  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)
  • PRESENTATION STEPS
  • RE/MAX Mumbai Gujarat  Preparation and research  Call and confirm appointment  Establish seller’s objectives  Presentation  Sales Associate selection  Confirm asking price  Explain & sign the listing agreement
  • RE/MAX Mumbai Gujarat  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
  • PRICING
  • RE/MAX Mumbai Gujarat 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
  • RE/MAX Mumbai Gujarat CONDITION OF THE PROPERTY  Staging  Other Factors in Pricing – Location, Size and Amenities  Initial Impression  Taking Overpriced Listings  Dangers of Overpriced Listings
  • NEGOTIATING WITH SELLERS
  • RE/MAX Mumbai Gujarat  Overcoming Objections  Seller Objections  Cutting Commissions  Commission Objections
  • FOLLOW-UP SYSTEM
  • RE/MAX Mumbai Gujarat  Set up a weekly or bi-weekly market report for your active listings.  Set up an aggressive price reduction campaign
  • AFTER CLOSING
  • RE/MAX Mumbai Gujarat  Customer Satisfaction  Handling Complaints
  • HOW TO AVOID THE 8 BIGGEST SELLING MISTAKES
  • RE/MAX Mumbai Gujarat 1. Wrong Price 2. As-Is Condition 3. No Curb Appeal 4. Not Making Your Home “Fit to Sell” 5. Lavishly Over Improving 6. Not Using a Professional 7. Not Disclosing Defects 8. Play Hardball
  • RE/MAX Mumbai Gujarat THANK YOU