Preparing and Delivering Effective Listing Presentations

When you're putting together a listing presentation, which of these is a key point to address? a. buyers won't pay more for a home than the market dictates b. everything you talk about with the seller will change in six months c. the house needs work before you can sell it for the right price d. your credentials are the best in the market

a. buyers won't pay more for a home than the market dictates

If, after seeing your carefully prepared comparative market analysis, a seller doesn't agree with the price range you prepared in your listing presentation, your best practice would be to ______. a. decline the listing if the seller's price and your price analysis are too far apart b. list the property at the seller's price and hope to reduce the price later c. offer to purchase the property at your suggested list price if it doesn't sell at the seller's price d. split the difference

a. decline the listing if the seller's price and your price analysis are too far apart

Your client, Octavia, needs to sell quickly. She paid $250,000 for her condo, and her neighbor's condo sold two years ago for $300,000. A similar condo across town, however, recently sold for $400,000. Which factor should impact your list price strategy? a. how soon Octavia needs to sell b. what Octavia paid for her condo c. what the condo across town sold for d. what the nearby condo sold for

a. how soon Octavia needs to sell

The comparable homes in the Branching Bee neighborhood are selling in 30 days, on average. Homes in other neighborhoods are generally selling after 90-120 days. When estimating an appropriate list price for a home in the Branching Bee neighborhood, you should suggest ________. a. listing at a higher price than comparable in other neighborhoods b. listing at a lower price than comparable in other neighborhoods c. listing low for a quick sale d. waiting six months to see if the market changes

a. listing at a higher price than comparable in other neighborhoods

Which of the following would likely NOT be part of a listing presentation? a. loan documents b. staging suggestions c. suggested list price or range d. to do list for the seller to prepare the home for market

a. loan documents

Jasmine is a real estate broker conducting a pre-listing appointment. One question she would likely NOT ask is __________. a. are there any repair issues that are not obvious? b. are you interviewing other brokers? c. do you have any outstanding loans against the property? d. do you own the property?

b. are you interviewing other brokers?

Your buyer client wants to make an offer on ah ouse that meets all of his needs, but the list price is a bit outside of his budget. When discussing the offer with the seller's agent, you ask about the seller's goals. This is a good example of ____. a. creating options for mutual gain b. focusing on interests, not positions c. insisting on using objective criteria d. separating the people from the problem

b. focusing on interests, not positions

Which is the best format for a listing presentation? a. it depends on the listing broker b. it depends on the seller and property c. online d. slide show

b. it depends on the seller and property

Which of the following is a benefit to the real estate licensee of preparing a CMA for a listing presentation? a. it helps the licensee develop a list of lenders who are familiar with the area b. it helps the licensee research and understand the local market c. it prevents a law appraisal from killing the deal d. it prevents the consumer from making claims of fraud if the property doesn't sell in a timely manner

b. it helps the licensee research and understand the local market

Ellen has only been licensed for two weeks, but she's already booked a listing presentation appointment with potential clients, the Birds. What should she do to prepare? a. call her mom and get a pep talk b. prepare a CMA c. print out two copies of her professional resume d. review her pre-licensing coursework for information about taking property photos

b. prepare a CMA

Besides market value, licensees consider other factors when determining a list price range, such as market dynamics, amount of competition, and _______. a. number of licensees in the area b. seller motivation c. subject property's original sales price d. the number of listings a firm currently has

b. seller motivation

Cicely is getting ready for her listing presentation to the Maxfield family. She's eager to have them sign on with her, and she's spent hours preparing all of the elements for the presentation. What information should be included in Cicely's marketing plan? a. a declaration of net proceeds to the seller b. an explanation of state licensing law c. an outline of ways to promote the property d. Cicley's background information

c. an outline of ways to promote the property

The list price is the price for which the _____ has agreed to sell a property. a. broker b. buyer c. owner d. property manager

c. owner

Beverly was so proud of the comparative market analysis (CMA) she'd put together for her seller client, Jonathon. The first page was simple: a large photo of his property with the address printed underneath. The rest of the CMA was spotless: She'd found four excellent comparable properties, included plenty of information about them, and was confident that Jonathon would love the suggested list price she arrived at. What did Beverly do wrong? a. she didn't alert the comparable properties' listing agents that she was using their listing as comps b. she didn't include at least six comparable in her analysis c. she didn't include a written statement on the CMA's first page that clarified that it wasn't an appraisal d. she didn't leave it up to Johnathon to determine the suggested list price

c. she didn't include a written statement on the CMA's first page that clarified that it wasn't an appraisal

Charmaine is conducting a pre-listing appointment and makes a note of the 50-year-old velvet wallpaper and shag carpeting in the dining room. This is likely because _______. a. she can add the extra cost of these features to her CMA b. she is looking for decorating ideas c. she is making a list of recommended updates for the sellers d. she wants to call out these features when marketing the property

c. she is making a list of recommended updates for the sellers

Which of the following provides an opinion of list price range by looking at recently sold properties, comparing current competing properties and properties that didn't sell, and estimating buyer appeal regarding the style, location, and size? a. appraisal b. broker price opinion c. collective market analysis d. comparative market analysis

d. comparative market analysis

Jack keeps current buyer tastes in mind when touring a home during a pre-listing appointment. This helps him to ______. a. block out any dated features b. compile a list of current buyers who would like the home c. determine whether he wants to list a home that's too dated d. make a note of any recommended updates to discuss with the sellers

d. make a note of any recommended updates to discuss with the sellers

Chin is a real estate licensee who prepared a CMA for the Mitchells. She suggested a price range rather than a specific price. Why might she do this? a. she's uncertain of pricing b. she wants to make sure that she's showing she can be flexible c. she wants to shut out competing brokers who may be vying for the listing d. the Mitchells may want to select within the range depending on their motivation

d. the Mitchells may want to select within the range depending on their motivation

The reason you want all property owners present at a listing appointment is that _______. a. it is required by law b. one of them is bound to like you c. so you don't have to repeat yourself d. you stand zero chance of leaving with a fully executed listing agreement if a signer is missing

d. you stand zero chance of leaving with a fully executed listing agreement if a signer is missing