Chapter 4 (Highlights)- Working with Sellers

Home Preparation Tips

Exterior: Clean windows inside and out Interior: Brighten rooms by installing high-wattage light bulbs and turn them on

What kind of marketing is about developing relationships that attract your ideal clients?

Pull Marketing; consider using social media sites as part of your pull marketing strategy

Prospecting Tips for Success Make time every day for prospecting

Take at left an hour or two a day to contact new prospects.

What are some of the terms established on the listing contract?

-Asking price -term of the listing -obligations of the owner -obligations of the broker -Amount of commission

What are three keys to prospecting success?

-Number of contacts -Consistency of contacts -System for tracking contacts

Types of listing Contracts

-Open listing -Exclusive right of sale listing

What should be included in The Listing Presentation Manual

-Professional Resume: should list professional qualifications Personal Profile: should include your experience, education, professional affiliations, and community involvement -CMA: It's always a good idea to arrive at the listing appointment with a good idea of the market value of the home you are visiting

What preparation tip helps sell a property?

CLEAN WINDOWS INSIDE AND OUT AND BRIGHTEN ROOMS BY INSTALLING HIGH-WATTAGE LIGHT BULDS AND THEN TURN THEM ON.

What would you not typically include in a presentation?

CLIENT TESTIMONIALS

How do you best serve the listing?

Communication and weekly activity report

What is a listing contract?

AN EMPLOYMENT CONTRACT OR AGREEMENT

In which type of listing does the owner agree to list with only one broker and the owner agrees to pay the listing broker regardless of who actually finds a buyer?

Exclusive right of sale listing Is a bilateral contract: meaning both parties must act; agree and accept

It's okay to say, "No"

If the seller or buyer is not motivated, it's okay to say no. Your time is a valuable and if a prospect is not motivated, it's a waste of your time, energy, and money.

What is the agreement between the broker and a property owner called?

Listing contract

Is a radio ad a type of PULL marketing?

NO

Should you ask the seller, "What type of buyer are you looking for?

NO

Never give up

Never stop prospecting even when clients say no. "No" means "not now but contact me later because I might need your help." If you give up and stop prospecting for the same people, someone else will be there when they need help and you will lose the opportunity.

Don't take it personally

No-one likes rejection, however, it is not personal, it's business. Rejection is a very small part of prospecting

In what type of listing does the owner agree to pay a commission to any broker who provides a buyer willing to purchase the property?

Open listing

Prospecting Tips for Success It's all about the numbers

The more people you talk to the more successful you will be

Network

Try to use every social event as a networking opportunity. Look at meetings, parties, soccer games, or little league as networking opportunities.

Prospecting Tips for Success Be consistent in your message

Whether you are cold calling, sending e-mails or direct mail, or knocking on doors, the message you convey must be consistent.

Is social media a type of PULL marketing?

YES

Is the CMA the most helpful tool to obtain a list price?

YES

Prospecting Tips for Success The prospecting never stops

the more you prospect, the more successful you will be