Fundamentals in Real Estate Series Part – 4 Working with S

Pranav PandyaFranchise Development

ManagerRE/MAX Mumbai Gujarat

Maharashtra

FUNDAMENTALS IN REAL ESTATE

SERIES PART 4 WORKING WITH SELLERS

RE/MAX Mumbai Gujarat Maharashtra

RECAP Part 1 - Getting Started

o Nature of the worko Market trendso Become the Sales Associate of

choiceo Four reasons why Sales Associates

failo Sales Associate mission statementso Goalso Marketing plan


RECAP Part 2 - Marketing

o Needs and wants of consumers are changing

o The brando Marketing a serviceo Building relationshipso Marketing ruleso Personal promotiono Specializeo Elements for your marketing plan


RECAP Part 3 - Prospecting

o Repetitiono Seek opportunities for leverageo Six steps to getting startedo Farmingo Direct response marketingo Expired listingso For Sale by Ownero Ad/sign call systemo Open houses


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


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?


LISTING PROCESS Two step listing process

One step listing process

PRE-LISTING PACKAGE


PRE-LISTING PACKAGE INCLUDES

Introductory letter Testimonials/references Performance history - Yours, RE/MAX office,

market, competitiono Market share grapho Sales to list ratioo Time on marketo Sales volume

Dangers of overpricing Promo pieces on you and/or RE/MAX Sample marketing pieces Listing agreement

LISTING PACKAGE


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


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.


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


Preparation and research Call and confirm appointment Establish seller’s objectives Presentation Sales Associate selection Confirm asking price Explain & sign the listing

agreement


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


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


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


Overcoming Objections

Seller Objections

Cutting Commissions

Commission Objections

FOLLOW-UP SYSTEM


Set up a weekly or bi-weekly market report for your active listings.

Set up an aggressive price reduction campaign

AFTER CLOSING


Customer Satisfaction

Handling Complaints

HOW TO AVOID THE 8 BIGGEST SELLING

MISTAKES


1. Wrong Price2. As-Is Condition3. No Curb Appeal4. Not Making Your Home “Fit to

Sell”5. Lavishly Over Improving6. Not Using a Professional7. Not Disclosing Defects8. Play Hardball


THANK YOU

Fundamentals in Real Estate Series Part – 4 Working with S

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