Download the listing agreement

© 2011 Cengage Learning
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.
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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
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THE LISTING AGREEMENT
Listing agreement (employment
agreement)
Define the broker’s rights and duties as
defined in it.
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THE LISTING AGREEMENT
Relationship between a listing
agreement and any agency relationship
that is created.
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THE LISTING AGREEMENT
Differences between a unilateral and a
bilateral agreement
Both types of listing agreements are
bilateral in nature.
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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
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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.
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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?
© 2011 Cengage Learning