Real Estate Practice: Ch 5

Pricing a Property methods:

Appraisal / Competitive market analysis

Properties currently for sale

Gives a clear picture of the asking prices buyers are seeing for similar homes. Asking price is not always a good indicator of the actual selling price of a property.

Recently sold property

Include similar properties that have sold within the past three to six months. Should include a minimum of three properties in this category.

Expired properties not sold

More recent expiration date, more reliable data. Most often a property fails to sell because of overpricing.

Estimated Seller's Proceeds

form estimates the amount a seller will net from the sale of the property.

Listing Presentation Manual

a support piece to use as reinforcement for what you are saying to the prospective client.

For sellers, the Listing Presentation Manual must address:

• Benefits of listing a home with an agent.
o Advice on getting the home ready for sale.
o Advertising and promotion activities paid for by agents.
o Qualification of all prospective buyers.
• Why that listing should be with you and your company.

For buyers:

• Explanation of the different types of agency and what seller agents do for their clients. How the buyer's agent gets paid his or her fee.
• Should cover your skills and expertise as well as your firm's