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Unit 9: The Listing Presentation (Quiz)

Terms in this set (15)

A carefully prepared listing package:
a. will include information about the sellers' property.
b. has advertising and marketing samples.
c. helps create trust and communication with the sellers.
A listing package should include information about the seller's property, professional details about you and your brokerage, samples of your advertising and marketing pieces, and all of the forms necessary for listing the property. A carefully prepared listing package will help achieve a position of trust, accountability, and communication with the seller. Page 271
The best way to convince a prospective seller that you are the specialist to hire
for the job of selling the home is by:
arranging a listing appointment. When a homeowner decides to sell his or her home, they generally call one or more real estate professionals. If you are the one they contact, you will come to the prospective seller's home for a listing appointment. Each salesperson gives a listing presentation and tries to convince the prospective seller that he or she is the specialist to sell the home. Page 269
An effective listing presentation should:
be personalized for each seller. Develop a list of questions to ask the seller prior to the listing appointment that will help tailor your presentation to each particular seller. Everyone desires to be treated as an individual, and sophisticated sellers will know immediately if you use a standard presentation. Page 270
Which of the following statements is correct regarding property marketing plans?
It is possible to follow the same timeline and activities for each listing. It is possible to follow the same timeline and activities in your property marketing plan for any listing because certain recommended marketing activities will benefit any listing. Page 272
The purpose of a CMA is to:
determine an appropriate listing price for the seller's house. The CMA lays the foundation for setting a realistic listing price for the property.
Page 273
Which of the following items describes a reliable comp?
A listing that is similar to the subject property. Only those similar properties—sold on the open market, with approval of the seller, and offered for a reasonable length of time—are used for comparables. In addition, if possible, use only those properties that have sold within the past six months. Comparables older than six months are typically less reliable. Page 274
In order to prepare a CMA, a salesperson usually:
researches comparable properties on the MLS. To prepare a CMA for a property, collect data on at least three comparable properties (comps) that are as similar to the property in question as possible. The MLS allows you to find properties that match certain criteria you enter into the computerized database. Page 274
When listing a property that is in poor condition, it is best to:
convince the seller to lower the listing price. During a "buyer's market" by lowering the price, you can sell a property that is functionally obsolete, in poor condition, in a poor location, or on a busy street. When advertising on the Internet, it is crucial you include pictures and even virtual tours. Potential buyers who encounter a listing with a "photo not available" will go elsewhere to find a home. Page 278
The secret to a fast sale is:
the correct listing price. The right listing price is the secret to a fast sale. A salesperson needs more than charisma to sell a property. Lowering your commission may help you obtain the listing, but it will not influence a salesperson's ability to procure a buyer. If the price is right, a home can sell in a poor neighborhood. Page 278
During a buyer's market:
a seller might have to lower the price of the property. If there is more supply than demand (buyer's market), a seller might have to lower the price of a property. If there is more demand (a seller's market) than inventory (listed properties), the seller could consider pricing the home at the top end of the range of value or higher. Page 279
It is a good idea to present the commission amount:
when you present the seller's net sheet. A good time to present your commission is while you are explaining the costs in the net sheet because you can redirect the sellers' attention to the real issue—what will their check amount be at the closing. It is easier for the seller to see the commission when it is presented as part of all of the costs involved in the sale. Page 280
The average sale takes place:
after the fifth or sixth refusal. The average sale takes place after the fifth or sixth refusal. Page 281
The first thing you should do when asking for the listing is present the:
Agency Disclosure Statement. The proper procedure to follow when asking for the listing is: (1) Present the Agency Disclosure Statement, (2) Present the Listing Agreement, and (3) Present the Seller's Advisory. Page 281
The listing agreement is made between the:
broker and seller. The listing agreement is between the broker and the seller, but a salesperson usually
represents the broker in the transaction. Page 269
The most common reason a home fails to sell is:
overpricing. The most common reason a home fails to sell is overpricing. Page 283
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