© 2011 Cengage Learning

The Listing Presentation The Listing Presentation Chapter 9 © 2011 Cengage Learning

RATIONALE FOR CHAPTER This chapter reviews the essentials of a listing agreement and the different types of listing agreements. The Exclusive Authorization and Right to Sell listing agreement is reviewed in depth and you will learn how to effectively present a marketing plan in a logical sequence that will help you to obtain more listings at competitive prices and terms.

© 2011 Cengage Learning Focus of Presentation This chapter discusses the exclusive authorization and right to sell listing agreement and the importance of knowing its terms and conditions in detail.

© 2011 Cengage Learning Focus of Presentation The content of the buyer/broker listing agreement is discussed, as well as how to effectively present it to buyers.

© 2011 Cengage Learning Focus of Presentation How to effectively present a marketing plan to sellers is discussed. Other types of listings are discussed, including comments about the limitations of each.

© 2011 Cengage Learning Focus of Presentation How to effectively present the competitive market analysis (CMA) to sellers is discussed.

© 2011 Cengage Learning CHAPTER NINE OUTLINE 9.1 THE LISTING AGREEMENT 9.2 TYPES OF LISTING AGREEMENTS 9.3 THE EXCLUSIVE AUTHORIZATION AND RIGHT TO SELL LISTING FORM

© 2011 Cengage Learning CHAPTER NINE OUTLINE 9.4 PRESENTING THE COMPETITIVE MARKET ANALYSIS AND YOUR MARKETING PLAN 9.5 ESTIMATED SELLER’S PROCEEDS 9.6 COMMON SELLER OBJECTIONS AND HOW TO HANDLE THEM

© 2011 Cengage Learning THE LISTING AGREEMENT Listing agreement (employment agreement) Define the broker’s rights and duties as defined in it.

© 2011 Cengage Learning THE LISTING AGREEMENT Relationship between a listing agreement and any agency relationship that is created.

© 2011 Cengage Learning THE LISTING AGREEMENT Differences between a unilateral and a bilateral agreement Both types of listing agreements are bilateral in nature.

© 2011 Cengage Learning EXCLUSIVE AUTHORIZATION TO ACQUIRE REAL PROPERTY (BUYER-BROKER AGREEMENT) Using the Buyer Representation Agreement-Exclusive form, go over the agreement. Types of listing agreements open listing exclusive agency listing net listing option listing Drawbacks to using each of them

© 2011 Cengage Learning THE EXCLUSIVE AUTHORIZATION AND RIGHT TO SELL LISTING FORM Using the Exclusive Authorization and Right to Sell Listing form (figure 9.3), Explain the essence of each paragraph.

© 2011 Cengage Learning PRESENTING THE COMPETITIVE MARKET ANALYSIS AND YOUR MARKETING PLAN Benefits of doing a two-stage listing presentation, whereby the agent visits the property to view it and take notes about its location, condition, amenities and other pertinent details, then returns for a second appointment where the actual listing presentation is conducted.

© 2011 Cengage Learning PRESENTING THE COMPETITIVE MARKET ANALYSIS AND YOUR MARKETING PLAN Orderly procession of steps to take when the agent arrives for the actual listing appointment, such as having the sellers walk through the property for a review, asking if they can all sit at the kitchen table, not sitting directly across the table from the sellers, making small talk for a couple of minutes to “settle in,” etc.

© 2011 Cengage Learning PRESENTING THE COMPETITIVE MARKET ANALYSIS AND YOUR MARKETING PLAN Sequence of how to present each segment of the marketing plan and CMA. The agent should always make any reference to the market value of the seller’s home as coming from “the market data,” and not from the agent.

© 2011 Cengage Learning PRESENTING THE COMPETITIVE MARKET ANALYSIS AND YOUR MARKETING PLAN Importance of doing very detailed research about the property’s market value prior to the listing appointment. Importance of watching the sellers’ body language and voice inflection for positive or negative signs.

© 2011 Cengage Learning PRESENTING THE COMPETITIVE MARKET ANALYSIS AND YOUR MARKETING PLAN Importance of including testimonial letters from satisfied clients in your marketing plan. Value of presenting a detailed accounting of how you arrived at your value conclusions when presenting the CMA.

© 2011 Cengage Learning PRESENTING THE COMPETITIVE MARKET ANALYSIS AND YOUR MARKETING PLAN Different roles the agent will play during the course of the listing (analyst, marketing professional, negotiator, and escrow technician) and the value of each one. Use of trial closes to see if it is time to present the listing agreement.

© 2011 Cengage Learning ESTIMATED SELLER’S PROCEEDS When and how to present the completed estimated seller’s proceeds form to the sellers. Benefit of presenting a new estimated seller’s proceeds form each time the agent presents an offer to the sellers.

© 2011 Cengage Learning COMMON SELLER OBJECTIONS AND HOW TO HANDLE THEM Most sellers tend to have the same group of objections (price, length of listing, advertising policy, commission, etc.). Objections in the textbook; are there any additional ones you have seen on a recurring basis?