Ch. 10 Second Appointments Flashcards
1
Q
What is the Second Appointment? Whys it Important?
A
Your success of the second listing appointment will be a direct result of the quality of your first listing appointment.
This meeting focuses on:
- Agreeing on the property value
- Underwriting the expenses, actual and pro forma
- Establish whether or not a sale will accomplish the sellers goals and overcoming any concerns they have
- Obtaining the exclusive rep agreement
- Leaving the client with a positive impression of our firm
- Continue to develop long term relationships
- Reinforcing the VALUE OF REP
2
Q
What Concerns may come from the CLIENTS POV?
A
- Do you have the experience to handle the property?
- Do you and the firm have a reliable source of buyers?
- Do you have superior knowledge of the market?
- Do you have the capability to influence the process?
- Does the client respect you and think that he would enjoy working with you to achieve his goals?
- Are you concerned about the clients best interests?
- Do you have an organized marketing plan?
- Will you handle confidential info appropriately?
- Do you bring enough value to the process to have earned an exclusive listing and appropriate commission?
- Is an exclusive really in the clients best interest?
3
Q
What is the Agenda of the 2nd Appointment?
A
Outline the specific agenda items you will discuss:
Here’s what I’m going to go through now:
- How we analyzed your property
- Rent comps, Sales Comps, On Market Comps: Income/expenses: historical, current, pro forma, Your NOI vs new buyers NOI
- How we would sell your property
- And how we would price and position it
4
Q
What do you summarize before closing?
A
Quickly summarize what you have discussed and proceed to closing and negotiating a listing agreement if warranted.
“So we agreed that”
- The implications of selling are____
- The implications of not selling are_____
- We agreed on pricing and positioning
