Kim Solveson - Real Estate Listing and Sales Techniques

Real Estate Listing&

Sales TechniquesPrepared By

Kim Suzanne SolveSon

Overview1. Getting started: studying your market

discovering prospects

2. Operating for sellers

3. Working for buyers

4. Negotiating the purchasing contract

5. Due persistence & closing

6. Ethics & expert practice

7. Continuing education

Getting Started:Who Are You &

What Are Your Skills?

1. Please finish the Study (handout #1)

Form into categories of threes (3s): choose who will be the “broker”, the “prospective agent” and the “observer”.

Using the concerns on the Study, the broker will meeting the potential broker (5 minutes) while the viewer concentrates.

Switch positions so that everyone has a different part and do it again (5 minutes).

Getting Started:Who Are You &

What Are Your Skills?, continued

3. Potential agents: If you were the agent, would you seek the services of yourself?

4. Brokers & Observers: What did you like best about the Potential Agents?

This meeting may be just like one you’llhave in “real” lifestyle.The most of today’s category is developed toprepare you to be as effective as you can be!

Getting Started:Studying Your Market

To achieve success, you must know your industry as well or better than anyone else.

1. Create a database to arrange information

2. Collect details in as much details as possiblea. Demographics

b. market size and activity

c. price range

Getting Started: Learning Your Market

3. Where are shopping, schools, recreational facilities, etc. located?

4. What rules regulate property use?

5. What rules regulate property transactions?

6. What else do you need to know about your market?

Getting Started:Your Tools

1. Expert wardrobe

2. Listing catalog

3. Brief case

4. Tape measure

5. Screwdriver, pliers

6. PDA or consultation book

7. Maps

8. Data base

9. Listing types, contracts

10. Buy contracts

11. Mortgage calculator

12. List of home loan organizations, surveyors, etc.

13. Signs, lockboxes, etc.

14. Company plan manual

15. Buyer’s handbook

16. Seller’s handbook

Getting Started:Finding Prospects (handout #3)

1. Develop an effective database to maintain titles, details, contact numbers, contact history, etc.

2. List potential recommendation sources

a. Relatives

b. Friends

c. Business contacts

Getting Started:Finding Prospects, continued

3. Contact referral sources

a. Deliver an statement letter

b. Consist of your company card

c. Stay in touch: 4 times/year minimum

4. Join organizations: meet people = “social farming”

5. Establish a “geographic farm”: become the expert (handout #2)

Getting Started:Finding Prospects, continued

6. “Opportunity time”

7. Target likely prospects

a. Mailing lists/membership rosters

b. Announcements in newspapers

8. Increase your visibility

a. Develop & distribute a newsletter

b. Hold open houses

c. Advertising

9. “Cold calls”

Understanding Why People Buy & Sell Real Estate:

It’s Usually Personal!1. Death

2. Divorce

3. Illness

4. Financial pressures

5. Loss of employment

6. Job transfer

7. Marriage

8. Birth

9. Promotion

10.Expression

11. Unexpected wealth

12.Prestige

13. Investment

Duties Owed to Your Clients

1. Usually based on law/regulation/custom

2. Six primary “fiduciary” duties

a. Loyalty

b. Keep private details confidential

c. Obedience

d. Affordable expertise & diligence

e. Reveal all known facts

f. Bookkeeping for cash & documents

Conflicts of Interest

1. Happen when the responsibilities you owe to one individual issue with the responsibilities you owe to another individual, such as yourself!

2. Conflict must be revealed instantly and an alternative decided upon; put the perfect remedy is written finalized by both parties

3. If no remedy can be decided upon, cancel one or both relationships

Responsibilities to “Other” Party

1. Reasonable and sincere treatment2. Disclosure of all known information

about the deal and property3. Disclosure of reality you are required to

know4. No misrepresentation: know the

important points and don’t guess5. Fully describe any records which need

signatures

Responsibilities tothe Public

1. No discrimination

2. Provide certified service

3. Don’t to get a job you’re untrained to perform

4. Do not do any marketing that’s incorrect, deceiving or a misrepresentation

5. Do not do anything opposite to the law

Responsibilities toOther Agents

1. Do not intentionally create incorrect or deceiving claims about your competitors

2. Do not take any activity unreliable with the organization of another agent

3. Disclose the consumer connection to other providers at first contact

LISTING: Working for SellersFinding Potential Sellers

1. Geographical farming

2. Divorce/marriage

3. Death/illness

4. For-sale-by-owners

5. Expired listings

6. Foreclosure notices

7. Neighbors of new listings

8. Out-of-town owners

9. Marketing for particular properties

10. Moving companies

11. “Furniture for sale”

12. Business transfers

13. Homebuilders

14. Social farming

15. Attorneys/bankers

16. Referrals

LISTING: Working for SellersSeller Counseling Session-1

1. Prepare yourself

a. Dress professionally

b. Be prompt

c. Prepare CMA (handout #4)

2. Prepare prospective seller

a. Establish rapport

b. Agree on common agenda

c. Permission to ask questions


Using Seller’s Handbook (sample) as a guide1. Talk about your part as advisor/advocate, your

organization & yourself2. Talk about your part as marketer3. Talk about CMA (actives, solds, expireds) /importance of

pricing4. Evaluation seller’s options5. Evaluation record agreement (sample & CD)6. Talk about how you & promoting broker are paid7. Figure out seller’s inspiration, timing8. Talk about planning the house for the buyer’s sight

(book)


Ask: “If we find a buyer today willing to pay your price, are you ready to sell?”

Then eitherA. Existing the record agreement again and ask for their signatures ORB. Ask them to evaluate all the details you’ve offered and make a consultation to talk about any queries and complete the contract

LISTING: Working for SellersMarketing

1. Get ready MLS leaflet for competitors2. Put indication in garden, fill up leaflet box3. Enlist seller’s help in keeping leaflet box

full4. Put key box on front side door5. Give office displaying instructions6. Create advertising: Internet, paper, flyers7. Prepare Property Information for inside

home

LISTING: Working for SellersCommunication

Communicate with your seller…even when there’s “nothing” to say!

1. Tell the supplier what you are doing to industry the property

2. Collect reviews from showings, tell the seller

3. Contact supplier at least once a week4. Review reviews with supplier per

month, talk about possible cost change5. Hold “open” houses

SELLING: Working for BuyersFinding Potential Buyers

1. Your sellers! 2. If your suppliers are

not purchasing here, relate them to a representative to which they’re moving

3. Geographic farming4. Social farming5. Referrals from

experts, other providers, buddies, relatives

6. Your niche market Home buying seminarsYour web siteDivorce/marriageExpanding families“Empty nesters” Just promoted/firedHold open houses“Opportunity time”_______________

SELLING: Working for BuyersBuyer Counseling Session-1

1. Prepare yourselfa. Dress professionallyb. Be prompt!c. Prepare information on possible properties

2. Prepare prospective buyera. Establish rapportb. Agree on common agendac. Ask permission to ask questions


Using Buyer’s Handbook (sample) as a guide

1. Present yourself & your company

2. Explain your part as consultant and advocate

3. Review the actions associated with purchasing

4. Review homework between agreement & closing

5. Review example contracts

a. Buyer agency agreement (sample & CD)

b. Purchase agreement (sample & CD)

6. Talk about market & available properties


7. Specify buyer’s wants & needs

8. Determine buyer’s economical qualifications

Ask: “If we choose a residence nowadays that suits you, will you be in a place to buy?”


Then either A. Existing the customer organization agreement again and ask for their signatures ORB. Ask them to evaluate all the details you’ve offered, make a consultation to both complete the agreement and display property

SELLING: Working for BuyersShowing Properties

Selecting and previewing properties

1. Coordinate buyers’ wants and needs with currently available properties

2. Preview matches

3. Make sessions to demonstrate “best” matches

4. Plan “tour” route

SELLING: Working for BuyersShowing Tips

1. Perform the “priority” game: keep targeted on just 2-3 properties

2. Compare pros/cons of properties

3. Encourage observe taking

4. Encourage customer opinions

5. Ask searching questions

6. Serve as a “sounding board”

7. Listen carefully

SELLING: Working for BuyersHandling Objections

1. Each honestly

2. “I don’t know but I’ll figure out.”

3. Restate argument as a question

4. Correct misinformation

5. Ask “why” concerns carefully

6. Watch for “buying” signals

7. “Have I responded to all your issues or do you need more information?”

SELLING: Working for Buyers

!!!LISTEN!!!

NEGOTIATING THE CONTRACTPurchase & Sale Agreement

Essential Elements1. Qualified parties2. Timely

acceptance3. Unique legal4. Consideration5. Mutual consent

Terms & Provisions1. Price2. Possession3. Personal property4. Means of conveyance5. Pro-rations of taxation

& insurance6. Closing costs7. Contingencies8. Property disclosures

NEGOTIATING THE CONTRACTPresenting the Offer

1. Offer supplier with a finish “picture” of the buyer:

2. Present conditions of offer

3. Explain contingencies/special conditions

4. Present buyer’s economical capability

5. Encourage acceptance

6. If supplier is not wanting to agree to as is, settle using counterproposals (sample)

DUE DILIGENCE & CLOSING

1. Organize with record agent2. Prepare guidelines of all actions & dates3. Maintain deal computer file of all

conferences, letters, records, phone notes4. Assist your customer with appropriate

information, psychological support5. Communicate regularly6. Make sure all schedules are met7. Schedule & get involved in closing

“CLIENTS FOR LIFE!”

1. Execute with maximum possible professionalism, reliability, reliability during transaction

2. Call on customer soon after closing

3. Keep in contact at least 4 periods each year

4. Establish yourself as their expert REALTOR

a. For their future real estate needs

b. To refer friends/relatives/colleagues

Ethics & Professional Practice

1. It is effective do the right thing

2. Honest & moral actions carry rewards

3. The only response to making a good, long long-term reputation

4. Never let the desire of money figure out your behavior

5. NAR’s Routes to Professionalism, reliability, reliability (handout #5): show regard to everyone!

Continuing Education:Keeping Ahead of the “Game”

1. Record the themes you’d like to learn more about: _________________________

2. Let’s make a mixed list.

3. Continuing knowledge and training are necessary to your success in property.

4. Sources

5. Designations

6. Have knowledge and learning goal every year.

We hope you’ve enjoyed this class.We hope it will increase your

success.I’ve certainly enjoyed being with you and have learned from you!

Kim Solveson - Real Estate Listing and Sales Techniques

Real Estate

Transcript of Kim Solveson - Real Estate Listing and Sales Techniques