NAR 2011 Buyer and Seller Report Quiz


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Three topics are covered in this sales meeting: 1. Quiz on NAR's 2011 Buyer and Seller Report, 2. Using Prudential's Customer for Life program in Online Seller Advantage, and 3. Writing special clauses for agreements of sale.

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NAR 2011 Buyer and Seller Report Quiz

  1. 1. Buyer & Seller Quiz 1
  2. 2. Buyer/Seller Quiz1. What percent of consumers believereal estate is a good investment? 6 7 8 Over ¾’s of the population still feel that the product that we sell is worthwhile 2
  3. 3. Buyer/Seller Quiz2. What percent of all buyers are singlewomen? 1 1 8 Almost 1 in 5 buyers that you deal with will be women. Single men are 10%. 3
  4. 4. Buyer/Seller Quiz3. What percentage of all real estatetransactions are handled by REALTORS? 7 8 9 This number continues to hold steady 4
  5. 5. Buyer/Seller Quiz4. What percentage of homes weresold as For Sale by Owners (FSBO)? 1 0 6It was 9% in 2010 and 18% in 1997.Consumers need us in these complex times. 5
  6. 6. Buyer/Seller Quiz5. What percentage of buyers/sellersare likely to use the same real estateagent in the future? 8 5 9Almost 9 out of 10 consumers are satisfiedwith our service. 6
  7. 7. Buyer/Seller Quiz6. What percentage of repeat buyersand sellers used the same agent theyhad used previously? 3 0 9UGGGG!!! How are you staying in touchwith your past clientele? 7
  8. 8. Buyer/Seller Quiz7. What percentage of buyers thoughtthe mortgage application and approvalprocess was somewhat more difficultthan expected? 2 3 9Setting expectation levels is paramount. 8
  9. 9. Buyer/Seller Quiz8. What percentage of homes weresold to first time home buyers? 5 3 7 Last year this number was 50%. 9
  10. 10. Buyer/Seller Quiz9. What percentage of first time homebuyers obtained an FHA mortgage? 5 4 5This financing method is vital to home buyers. 10
  11. 11. Buyer/Seller Quiz10. What percentage of buyers firstlearned about the home that theypurchased through the newspaper? 1 0 2 Newspaper advertising is dead! 11
  12. 12. Buyer/Seller QuizTIEBREAKER: How much money did theColonial Park office raise for theSunshine Kids this year? $1,896 12
  13. 13. Why use ‘Customer for Life’? 85% % of Customers The Grand Disconnect 76% of Past Customers Use a Different REALTOR 9% Would use again Did use again 13
  14. 14. Click ‘Online Seller Advantage’ 14
  15. 15. Click ‘Customer for Life’ 15
  16. 16. Click ‘Add/Edit Customer’ Tab 16
  17. 17. Type in Customer DataEnter estimated property value of customer. The program willinclude properties in the report that fall within a 20% range ofthe subject. Don’t worry – you can override the range if youwant to. 17
  18. 18. Enter Other Data Available options 18
  19. 19. Personalize Your Message This section is just like working in a word processing program. 19
  20. 20. Other Options • Always check the box marked ‘Display Map’ • Then click ‘Show Advanced Criteria’ 20
  21. 21. Advanced Criteria Options Don’t limit your search too much. Remember, this report is to give a customer a general idea of what is selling in their neighborhood 21
  22. 22. The Final Product Branded to agent 7, 14 or 30 day time frames Internet search activity Interactive map New listings, price changes, or status changes 22
  23. 23. Writing a Special Clause Huh? 23
  24. 24. Three Components of Special Clause 1. What do you want to happen? (be specific) 2. Who is responsible for it? 3. When do you want it completed? Poorly written clause: ‘Contingent on new roof.’ Well written clause: ‘This agreement is contingent upon the Seller installing a new roof at Seller’s expense prior to settlement. Roof brand, style and color will be selected by Buyer from within Seller’s allowance of $XXXX within seven days of acceptance of this agreement.’ 24
  25. 25. Post Settlement Issues REMEMBER: The agreement of sale dies at the settlement table. Any action that is required after settlement needs the following statement: “This clause shall remain in full force and effect and shall survive settlement.” 25