Chapter 4: Prospecting Flashcards
What do you need to check if you want to conduct a door-to-door canvass in a neighborhood?
To see if door-to-door solicitation is allowed and if it requires a permit.
Name one advantage and one disadvantage of telephone contacts.
Advantage - Can make several calls in a relatively short period of time.
Disadvantage - Many homeowners are turned off by phone solicitations and may hang up quickly.
What is a good approach to use when contacting the owner of an expired listing?
Find out why the listing did not sell and approach the owners with a plan that will address that issue and correct it for a successful sale.
What are the major areas of newspaper leads?
FSBO ads
Rental ads
Special announcements
Legal notices
What kind of newspaper ad could you place to solicit a listing?
An ad that is looking for a specific kind of home for one of your buyer clients.
List four sections of an Internet website that might be of particular appeal to prospective buyers.
Your current listings
List of services you offer specifically for buyers, such as help in finding a lender
Information on current interest rates
Mortgage loan calculator
How can a builder help you generate leads?
Builders can refer to you their customers who need to sell their current homes.
Why is it important to have a written prospecting plan?
It will keep you on track and provide a guideline for deciding what parts of the plan need to be changed or expanded.
Prospecting:
Only needs to be done periodically.
Is critical to your success in real estate.
Is helpful but not necessary.
Is best left to experienced brokers.
Is critical to your success in real estate.
All of the following are good newspaper sections to read for prospecting except which?
Obituary column
Classified rental ads
Business section
Special announcements
Business section
How might probate information help in prospecting?
Gives the names of lawyers who might require property assistance.
Allows the agent to determine community market trends.
Shows property addresses that should be excluded from prospecting.
Provides the names of individuals who may want to sell inherited property.
Provides the names of individuals who may want to sell inherited property.
Which of the following is not a probable reason for a listing to expire without selling?
No open houses
Needs repair
Not properly priced
Not marketed correctly
No open houses
Developing a prospecting plan is similar to:
Establishing goals.
Developing an earnings statement.
Setting a training schedule.
Writing a meeting agenda.
Establishing goals.
All of these are true of prospecting except:
It can provide a steady stream of future clients.
It helps to identify buyer and seller needs.
It keeps your name in front of potential buyers and sellers.
It guarantees sales.
It guarantees sales.
Which of the following statements is not true?
Retired persons are a good source of neighborhood information.
You can use a reverse telephone directory to get the names of residents.
Knocking on doors never requires special permits.
Visiting a neighborhood with a co-worker could make you feel more comfortable.
Knocking on doors never requires special permits.
