An assortment of cues and instructions related to the function of a salesperson in registering and selling residential real estate properties are available. It may be noted here that the incorporation of the different methods should not be considered as an approval of these exercises or conventions, but to a certain extent treated as summing up of different proposals that one may generally obtain from the marketing-oriented literature. In fact, those dealing in real estate should look for support by utilizing the services of commission (brokerage) or marketing technique professionals in the market. All marketing modus operandi must be seen in the perspective of the administrative prerequisites of respective provinces and the guiding principles created by utilizing commissions or brokerage.

Listing presentation

Usually, different brokerage firms use a well prepared and characteristically perceptible demonstration unit to introduce their real estate promotion or selling services to the prospective clients. In general, the majority of the registration or cataloging guides presented by the brokerage firms include data regarding the commission, their sales persons as well as the assistance or business offered by them to people seeking help to sell their property or acquire new ones. In fact, the majority of the cataloged demonstration guides highlight on clarifying some basic questions asked by the prospective clients every time they approach a brokerage firm for help. Normally, the presentations offer answers to issues such as:

  • Benefits of listing through a brokerage firm.
  • The benefits of employing that particular brokerage firm.
  • The advantages of employing the services of a particular salesperson.

Normally, an archetypal cataloging demonstration guide book may incorporate a number of subjects, such as the history of the brokerage agency, photographs of the firm's office and its employees, samples of the firm's promotional ads, declaration regarding the brokerage firm's proficiency together with its areas of expertise, the registration documents, a handbook demonstrating the comparative market conditions, reference and 'thank you' letters from its clients, details regarding the free services offered by the firm in aiding real estate owners to sell their property, as well as their testimonials and data regarding their success in the venture.

Apart from this, many demonstration guide books presented by the brokerage firms are supple enough to incorporate custom-made data to match the requirements of the special selling conditions. In addition to providing information regarding the brokerage firm, services offered by it, its success rate and the market conditions, the guide book may also be useful in pointing and conducting discussions at the time of the registration interview. It may also be used to strengthen the marketing personnel's justification for registering a property as well as make it clear to the proprietor how the real estate would be promoted for sale in the market provided the owner eventually comes to a decision to register his property with that particular brokerage firm.

Listing presentation procedure

Realizing that selling a house is a complicated and time-consuming process, majority of the property owners usually look for help from people or agencies who are specialized and well-informed in real estate transactions. Hence, when a property owner approaches a sales person for professional help, he or she should be organized to display the manner in which they will be providing their services to the client. It is also important that while making a demonstration before the property owner, the sales person ought to make it clear to the client how he or she would be benefiting by securing the services of a brokerage. In fact, the sales person should tell the house owner in detail how they would help him or her to diminish the tricky situations that may arise during the process of selling the property.

It is essential for people and agencies engaged in real estate transactions to identify the apprehensions of the majority of real estate owners as this would enable them to organize themselves better in answering the questions of their clients and also offer them a meticulously analyzed demonstration. Despite acknowledging the fact that all demonstrations are distinctive, it is essential to keep in mind that response to different queries of the property owners and cues for improved demonstrations will only help the sales persons in handling things with their clients better.

Questions to consider

As mentioned earlier, practitioners should try and recognize the worries of the real estate property owners with a view to provide them better services as well as win them over as secure clients. And in order to achieve this, they need to constantly question themselves and find answers relating to the specific requirements of each property owner. Here are some questions that they need to mull over:

  • Am I aware of the proprietor's impetus for selling the property?
  • Am I familiar with the site of the property and its environs?
  • Am I acquainted with the funding options?
  • Have I found out when the owner bought the property and at what price?
  • Have I prepared a comparative analysis of similar properties on sale?
  • Do I know of any determined client/ buyer who are ready to purchase the property?
  • Have I counseled the proprietor to collect all the legal deeds pertaining to the property?
  • Do I need a couple of more appointments with the owner?
  • Is my catalog demonstration prepared?

Tips for an improved listing presentation

Real estate practitioners should always remember that an improved listing demonstration can work wonder for them in not only doing away with the apprehensions of the property owners, but also in securing them as clients. Therefore, it is important to spend as much time in cataloging the real estate property as they would spend in the event of making a presentation before the owner. The sales persons should approach the seller of the property with a meticulously planned and organized catalog demonstration package and familiarize themselves with the latest sales of all similar real estate properties in the locality. In addition, the practitioners should undertake adequate research to learn about the economic standing of an individual who would be interested in purchasing a home in that particular neighborhood.

The practitioners should also be through with the mortgage industry and also be adequately equipped to suitably counsel the property owners desiring to take part in the 'seller take back' funding system. Additionally, the brokerage needs to obtain precise and total data related to the listing, including the area of the plot, taxes payable on it and mortgages. They should also advise the sellers against the over pricing of the property and clarify that if they list their property very high it will only help other property sellers in the region. It is important for the real estate practitioners to put in plain words to the sellers as to what steps could be detrimental for the prospects of selling their property. The sellers should be told that in the event they are contemplating about an asking price and a selling price, the variation between the two should essentially be very little otherwise the situation may dissuade authentic purchasers. At the same time, the brokerage should explain as well as make the seller comprehend the distinction between emotional value and the real value of the property.

Another important cue for the brokerage for a better listing presentation is that they always need to be just with the sellers. While the selling aspects of the dwelling need to be highlighted, the seller should also be told about the facets that are likely to obstruct or slow down the sale process of the concerned real estate property. Another cue is to call the attention of the sellers to the measures they should initiate or adopt so as to make their property appear more attractive to the prospective purchasers without any extra expenses. For instance, the simplest thing to do in this case is to clean up the place to give the property a better look in general.

Listing price

In simple words, the listing price of a property is the price at which a house is listed for sale. It is equivalent to the asking price of the property. The asking price of a property is often defined as the price at which it is offered on sale in the real estate market. The listing or asking price of a property and its market value may possibly be one and the same, but it all depends on the conditions relating to the particular asset and its seller. Normally, the listing or asking price of a property is ascertained depending on the data relevant to the present sales trend and the availability of other property of the same type in the market. In addition, it also depends on the assets that were listed for sale in recent times, but did not sell and had to be taken away from the market.

The perfect listing price of a property would be one that would not only draw knowledgeable purchasers, but at the same time be in competition with other real estate assets available on the market at that particular time and offering almost comparable aspects and advantages to the buyer. It may be noted here that experience and wisdom are two essential aspects to be able to ascertain a reasonable listing or asking price that will draw enthusiastic buyers and enable the seller to obtain the highest possible price provided the property is given substantial publicity in the real estate market. In fact, the ability of a sales person to appropriately set up the listing price in the prevailing market situations and keeping in view the supply/ demand trends, not only has an express effect of the final sale of a real estate property, but also helps the seller to obtain a higher price.

Listing categories

In the prevailing Canadian real estate markets there are three fundamental categories.

Open listing

An open listing is usually considered to be a comparatively free and unwritten understanding whereby the owner grants the right to one or more brokerages to get a buyer of his or her real estate property. There are times, when the seller may even agree to allow the brokerage to put up its sign board on the property. Such instances are more common in the case of vacant plots rather than dwellings. As there is no registered legal agreement between the property owners and the brokerages, in this case the seller holds back the privilege to sell the property themselves without having to pay any cut to the brokerage.

Although the terms and conditions of an open listing may be entrusted in black and white document, in actual performance, majority of the sellers will not consent to a select Multiple Listing Services (MLS) and hence will also decline to give his or her assent on a written open listing. As the majority of the open listings are only spoken arrangements, the real estate brokerages usually prefer to keep away from them or even if they go in for it, they handle the cases with utmost prudence.

Exclusive listing

Unlike in the instance of an open listing where a seller enters into verbal arrangements with one or more real estate brokerages to find buyers for his property, an exclusive listing grants a brokerage the right to put the concerned property on sale, lease or exchange for a definite period of time. In this case, the seller also concurs to pay the brokerage a commission even if he or she sells the property own their own. One will find an assortment of listing contracts and information input documents for filling in the details regarding the property in the market while dealing with an exclusive listing.

MLS listing

An MLS listing or the Multiple Listing Services is a special cataloging of property that incorporates several new marketing aspects. All MLS listings are arrangements in writing. Unlike the open listing and the exclusive listing which are operated by brokerages, Multiple Listing Services are controlled by the real estate boards. In this case, the seller allows the listing brokerage to engage the assistance of cooperative brokerages by signing a multiple listing form. It may be mentioned here that the cooperative brokerages are constituents of the real estate board. The listing brokerage is entrusted with the responsibilities of promotion of the property in the real estate market, negotiations with the prospective buyers as well as reimbursement of fees to the cooperative brokerage.

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