PruHSG Chambersburg Sales Meeting 11-12-13


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Sales meeting about the importance of disclosing agency relationships to consumers and a discussion on the importance of providing unexpected extras in the real estate transaction.

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PruHSG Chambersburg Sales Meeting 11-12-13

  1. 1. Chambersburg Office Sales Meeting Tuesday, November 12, 2013
  2. 2. Mortgage Update Blain Rosenberry Cell: (757) 218-2797
  3. 3. Title Update Lisa Baublitz Agent Appreciation Luncheon Date: Tuesday, December 10th Time: 11:30 AM - 1:30 PM Location: Office
  4. 4. Company Update Sharon Helsel Regional President
  5. 5. New HUD Procedures
  6. 6. Agency Relationships
  7. 7. Real Estate Licensing & Registration Act § 455.608. Information to be given at initial interview A Consumer Notice shall be provided at the initial interview. For the purposes of this section, the initial interview is the first contact between a licensee and a consumer of real estate-related services where a substantive discussion about real estate needs occurs.
  8. 8. How Did We Get Here? • Landmark case in 1993 • $275 million lawsuit • Involved over 6,000 transactions
  9. 9. When Things Go South The original disagreement is usually pretty clear cut to rational attorneys . . . so they dig a little deeper
  10. 10. When Things Go South The transaction file is the fingerprint Depositions and investigations aren’t something that you want to experience
  11. 11. Let’s Start at the Beginning This is only a disclosure Different ways to be represented
  12. 12. Let’s Start at the Beginning “ . . . be advised that unless you select a business relationship by signing a written agreement, the licensee is not representing you. A business relationship is not presumed.”
  13. 13. What are the differences? • Know the benefits • You should be able to clearly explain the differences • If you can’t explain the benefits, why do you expect the buyer to sign an agreement
  14. 14. Buyer Services Guarantee • Tool to help you explain the advantages of working with you • Link it to the Buyer Agency Contract
  15. 15. Buyer Agency Contract • Ensures that you get paid • Outlines what you will do • Remember – unless a buyer signs a Buyer Agency Contract, you represent the Seller
  16. 16. Buyer Objections • But I don’t want to be tied to you for an extended period of time. • But I didn’t have to do this with another REALTOR® when they showed me some properties. • But I could end up paying you a commission if I buy a FSBO.
  17. 17. Listing Property X • What are the ramifications of checking off the Subagent box? • Recommend that you only check off the box marked Buyer’s Agent
  18. 18. Question to Ponder Can you show a property to a buyer without a Buyer Agency contract and prior to writing a contract on it, become a Buyer’s Agent?
  19. 19. Question to Ponder If you show a property to a buyer without a Buyer’s Agency contract and the MLS printout indicates that the seller is only willing to compensate Buyer’s Agents, are you entitled to a commission if you sell the property?
  20. 20. Code of Ethics & Standards of Practice Standard of Practice 16-10 REALTORS® acting as buyer representatives, shall disclose that relationship to the seller or broker at first contact and shall provide written confirmation of that disclosure to the seller representative or broker not later than execution of a purchase agreement.
  21. 21. Customer Satisfaction: The Dawn of a New Era in Real Estate
  22. 22. Deciding Where to Stay
  23. 23. Rate the Staff • ‘Staff was great and helpful’ • ‘Front desk staff was very friendly’ • ‘The staff is incredibly nice’ • ‘The hotel staff was fantastic’ • ‘The hotel managers and staff were courteous and available’
  24. 24. Two Questions at Check-in When does your small café open for continental breakfast? Do you know anything about the Johnstown Flood Museum? Front Desk Clerk: “I don’t know. This is my first day on the job and I’m new to the area.”
  25. 25. An Unexpected Extra Comfort Inn & Suites • Bkfst at 7 • Museum opens at 10. $8/per. Great reviews. Enjoy. • Wake up call? • How did they know to text me? • Anticipated an additional need
  26. 26. Copy link into browser to play video:
  27. 27. Customer Survey Service Exercise Answer the survey as if you were your client in the last transaction you completed Be honest!
  28. 28. • New Listing • Price Changes • Buyer Needs