Building a Seller Proposal in Real Estate
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20-Oct-2014 -
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Transcript of Building a Seller Proposal in Real Estate
RE/MAX Mumbai – Gujarat – Maharashtra
BUILDING A SELLER PROPOSAL
SAHIL SHAH
REFLECTIONS OF GREATNESSRE/MAX Mumbai – Gujarat – Maharashtra
WHAT TO INCLUDE Details on RE/MAX Challenges faced by the seller Why RE/MAX Broker Associate How to list with RE/MAX Exclusive Mandate List of Services Dangers of Overpricing Comparative Market Analysis Procedure
REFLECTIONS OF GREATNESSRE/MAX Mumbai – Gujarat – Maharashtra
PROFILE-ROLE ON RE/MAX RE/MAX International RE/MAX India RE/MAX Region RE/MAX Franchise Office You as an Agent
REFLECTIONS OF GREATNESSRE/MAX Mumbai – Gujarat – Maharashtra
CHALLENGES FACED BY SELLER Guidance of valuation Limited network of agents Sales requires continuous efforts Dealing and negotiating with number of agents
and buyers Limited Marketing Exposure Legal Paperwork
REFLECTIONS OF GREATNESSRE/MAX Mumbai – Gujarat – Maharashtra
WHY RE/MAX BROKER ASSOCIATE Association with a brand Global Presence Customers of all types Collaboration with brokers No fixed costs – only success fees Trained and Professional Agents No motivation / monitoring required Exclusive web-space
REFLECTIONS OF GREATNESSRE/MAX Mumbai – Gujarat – Maharashtra
TYPES OF MANDATE Open Mandate Exclusive Mandate
REFLECTIONS OF GREATNESSRE/MAX Mumbai – Gujarat – Maharashtra
BENEFITS OF EXCLUSIVE MANDATE Results in higher selling price Allows agents to put signages Invest more in advertising Gives exposure to more agents Seller is better informed
REFLECTIONS OF GREATNESSRE/MAX Mumbai – Gujarat – Maharashtra
LIST OF SERVICES Fliers – Design Centre Brochures – Design Centre Event based marketing
Buying in areaInvesting in area Why buy rather than rent
Festival based marketingJanmashtamiIndependence DayDussheraDiwali
Web marketingGoogle Adwords Facebook AdsLinkedIn AdsFacebook Page and marketing
•Print media ToI + MirrorIndian ExpressRegional newspaper
•Web Promotion on Magicbricks99acresIndiaproperties
•Agents in the area •Agents in the city – Associations, other top agents•RE/MAX network in the city, country and internationally
iConnect – local agent, office, www.remax.in, iConnect – other portalsBBM groups
•Corporate in the areaIT companiesNon IT companies Other sources of business owners and buyers
REFLECTIONS OF GREATNESSRE/MAX Mumbai – Gujarat – Maharashtra
Email campaign SMS campaigns Open House ‘Deal of Month’ campaign ‘Just Listed’ postcards in the vicinity Signages to lead to the property Franchise office newsletter Sharing it on Slideshare
REFLECTIONS OF GREATNESSRE/MAX Mumbai – Gujarat – Maharashtra
CHECKLIST TO MARKET A PROPERTYBuild your own checklist for buyer and seller
respectively
REFLECTIONS OF GREATNESSRE/MAX Mumbai – Gujarat – Maharashtra
DANGER OF OVERPRICING
NEW 1) FINALLY SELLSFRESH 2) LONGER TIMEOPEN TO ALL BUYERS 3) LESS MONEYGREATEST INTEREST ANDACTIVITY IN THE FIRST 30 DAYS
FAIR PRICE
UNDER PRICE
OVER PRICE
REFLECTIONS OF GREATNESSRE/MAX Mumbai – Gujarat – Maharashtra
COMPARATIVE MARKET ANALYSIS
Your Listing: C-101, Kala Residency, Nr. Radio Mirchi, Satellite, Ahmedabad – 15 Your Listing Price Recommendation: Rs. 80,00,000
Address Bedrooms Baths Square
Ft. Parking List Price
Days on Market
Property Age
Kalasagar 4 2 1804 Y 88,00,000
Kala Heights 4 2 1788 N 83,00,000
Sharanam 4 2 1896 Y 80,00,000
Indraprastha 4 2 1/2 1912 N 77,00,000
Vraj Vihar 4 2 1692 N 90,00,000
Gokuldham 4 2 1692 N 75,00,000
Satellite Tower 4 2 1690 N 85,00,000
Average List Price: Rs. 85,00,000
Average Sold Price: Rs. 78,00,000
Average Sq. Ft: 1782
REFLECTIONS OF GREATNESSRE/MAX Mumbai – Gujarat – Maharashtra
PROCEDURE Defining Contract type –
Exclusive, Partial exclusive, Open mandated,
Defining deliverables from RE/MAX for the same. Determining the Period of Contract/ mandate. Deciding Brokerage & other Financials.
Brokerage charged may vary from property to property, depending upon type of contract, commitments from RE/MAX, proportionate marketing amd Advertising expenditure, etc.
Signing of an MOU to that effect. Execution Settlement of payments.
REFLECTIONS OF GREATNESSRE/MAX Mumbai – Gujarat – Maharashtra
Thank You
For any questions, you can always mail us at [email protected]