Chapter 9- The Buyer And Property Showing

Question 1

Floor Time

Answer 1

Agents are given inquiries in rotation. Open houses are modern equivalent of this.

Question 2

Switch Property

Answer 2

A property you also offer as a back up during an inquiry priced 20% more or less than the initial.

Question 3

Handling the Inquiry- General Rules

Answer 3

Obtain callers name and number. Ask about family size, how they know about property, what they like about the house, are they prequalified, hold some details about listing, answer home elimination questions with a question, close on an appt.

Question 4

How do we stay safe?

Answer 4

Don’t show a property to a new buyer for the first time at night. Don’t go to an abandoned fixer upper at night or desolate area.

Question 5

Preparing to meet your buyer

Answer 5

What are their needs and requirements?
Ask open ended questions
Avoid closed end questions

Question 6

What is front end ratio and back end ratio?

Answer 6

Front end- housing to gross income
Back end- housing and other debt to gross income

Question 7

Pre-qualification versus pre-approval

Answer 7

DU approval. Failure to retrieve pre approval you may be showing homes they don’t qualify for.

Question 8

Tie Downs

Answer 8

A question that calls for a positive response. “This is a spacious room isn’t it?”