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 o...
RE/MAX Mumbai Gujarat
RECAP
 Part 2 - Marketing
o Needs and wants of consumers are changing
o The brand
o Marketing a ser...
RE/MAX Mumbai Gujarat
RECAP
 Part 3 - Prospecting
o Repetition
o Seek opportunities for leverage
o Six steps to getting s...
RE/MAX Mumbai Gujarat
TODAY’S AGENDA
 Presentation to a seller
 Pre-listing package
 Listing package
 Presentation ste...
PRESENTATION TO A
SELLER
RE/MAX Mumbai Gujarat
QUESTIONS TO ASK
SELLER
 Are you planning to interview more
than one Sales Associate?
 Where are y...
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 -...
LISTING PACKAGE
RE/MAX Mumbai Gujarat
 Letter to client from you
 Listing agreement
 Disclosure forms
 Comparative Market Analysis (CM...
RE/MAX Mumbai Gujarat
 Information pieces
 Why use a Sales Associate?
 Remodel or sell?
 Dangers of overpricing
 Mark...
RE/MAX Mumbai Gujarat
 Seller’s Guide - May include information
described above plus:
 Steps in the selling process
 Pr...
PRESENTATION STEPS
RE/MAX Mumbai Gujarat
 Preparation and research
 Call and confirm appointment
 Establish seller’s objectives
 Presenta...
RE/MAX Mumbai Gujarat
 Establish trust
 Determine the seller’s motivation
 Experience and expectations
 Length of your...
PRICING
RE/MAX Mumbai Gujarat
CURRENT MARKET
CONDITIONS
 Buyer’s market
 Balanced market
 Seller’s market
 Sale to List Price
...
RE/MAX Mumbai Gujarat
CONDITION OF THE
PROPERTY
 Staging
 Other Factors in Pricing – Location,
Size and Amenities
 Init...
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 ...
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. Lavishl...
RE/MAX Mumbai Gujarat
THANK YOU
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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 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

  1. 1. FUNDAMENTALS IN REAL ESTATE SERIES PART 4 WORKING WITH SELLERS
  2. 2. 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
  3. 3. 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
  4. 4. 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
  5. 5. 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
  6. 6. PRESENTATION TO A SELLER
  7. 7. 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?
  8. 8. RE/MAX Mumbai Gujarat LISTING PROCESS  Two step listing process  One step listing process
  9. 9. PRE-LISTING PACKAGE
  10. 10. 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
  11. 11. LISTING PACKAGE
  12. 12. 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
  13. 13. 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.
  14. 14. 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)
  15. 15. PRESENTATION STEPS
  16. 16. 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
  17. 17. 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
  18. 18. PRICING
  19. 19. 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
  20. 20. 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
  21. 21. NEGOTIATING WITH SELLERS
  22. 22. RE/MAX Mumbai Gujarat  Overcoming Objections  Seller Objections  Cutting Commissions  Commission Objections
  23. 23. FOLLOW-UP SYSTEM
  24. 24. RE/MAX Mumbai Gujarat  Set up a weekly or bi-weekly market report for your active listings.  Set up an aggressive price reduction campaign
  25. 25. AFTER CLOSING
  26. 26. RE/MAX Mumbai Gujarat  Customer Satisfaction  Handling Complaints
  27. 27. HOW TO AVOID THE 8 BIGGEST SELLING MISTAKES
  28. 28. 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
  29. 29. RE/MAX Mumbai Gujarat THANK YOU

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