Chapter 5: Listing Presentations Flashcards
What is a competitive market analysis?
A comparison of properties that are similar to the seller’s property in location, size, style, age and amenities
When looking at homes currently for sale, what is important for a prospective seller to know about asking price?
Asking price is not always a good indicator of the actual selling price of a property.
When preparing a competitive market analysis, what categories of homes should an agent research?
Expired properties not sold
Recently sold properties
Properties currently for sale
What is a good method for estimating what a seller will net from the sale of the property?
Obtain and complete the Estimated Seller’s Proceeds form, which estimates all of the costs involved in the sale and subtracts that amount from the estimated selling price.
Your listing presentation manual should be made up of two sections that address what issues?
Why the person should enter into a listing agreement.
Why the listing agreement should be with you and your company.
What is the main reason sellers choose to sell their property without an agent’s help?
They think they will save money by not having to pay a large commission.
Name three benefits of listing a home with an agent that you could share with sellers.
Advice on getting the home ready for sale.
Advertising and promotion activities paid for by agents.
Qualification of all prospective buyers.
What is an important issue for potential buyer clients to understand?
How the buyer’s agent gets paid his or her fee.
A competitive market analysis contains information about all of the following items except which?
Currently listed homes
Recently sold homes
Recently remodeled homes
Similar expired listings that didn’t sell
Recently remodeled homes
Which of the following items would not usually be included in a presentation manual for buyers?
Information on the firm’s services
The agent’s resume
Press releases about the company
A list of former client references
A list of former client references
What form can an agent use to show a seller what he or she will net on the sale of the property?
Statement of Closing Costs
Competitive Market Analysis
Sale Price Disclosure
Estimated Seller Proceeds
Estimated Seller Proceeds
Which of the following will give you comparative market data the fastest?
Multiple listing service
County records
Company files
Title companies
Multiple listing service
A competitive market analysis is an attempt to:
Find things in the home a seller needs to repair.
Establish a home’s fair market value.
Discover why some homes haven’t sold.
Convince a seller to list with you.
Establish a home’s fair market value.
How many properties should be included for comparison in a competitive market analysis?
Two properties in each category
Five current listings – three recently sold and two expired
A minimum of three properties in the recently sold category
Twelve properties total
A minimum of three properties in the recently sold category
In a CMA, the comparison should be of at least three properties that are similar to the seller’s property and that have sold within the past 3 to 6 months.
A presentation manual:
Should be professionally produced.
Can be used in place of a verbal presentation.
Is not necessary if the verbal presentation is strong.
Lends good visual support to what the agent is saying.
Lends good visual support to what the agent is saying.
