REMAX Facts
These two people founded REMAX.
Who are Dave Liniger and Gail Main, later Gail Liniger?
A buyer keeps changing their search criteria every week. This is the conversation the agent probably needs to revisit.
What is the buyer consultation, buyer strategy meeting
This contingency protects a buyer if they cannot obtain financing under the agreed terms.
What is a mortgage or financing contingency?
The number of square feet in an acre.
43560
In Turning Your Database Into Business, this group of people should be contacted consistently instead of only when you need business.
What is your database/sphere of influence?
The name REMAX originally came from these three words.
What is "Real Estate Maximums"?
A seller wants to price well above the comps "just to see what happens." Name one risk.
This helps demonstrate that a buyer has the financial ability to purchase a home with cash.
What is proof of funds?
A home listed at $600,000 sells for $630,000. This is its sale-to-list percentage.
$630,000 ÷ $600,000 = 1.05 = 105%
When choosing comparable sales, proximity alone does not make a property a good comp. Name three other factors that matter.
The REMAX hot-air balloon made its first flight at this famous event in 1978.
What is the Albuquerque International Balloon Fiesta?
A lead keeps saying, "I'm not ready yet." Name one productive way to nurture them without constantly asking if they're ready.
A buyer submits an offer with a home-sale contingency. This means their purchase depends on this happening first.
What is the sale of their current property?
A buyer purchases a $525,000 property with 20% down. Approximately how much are they financing?
20% of $525,000 = $105,000 down
$525,000 - $105,000 = $420,000
In Offer Accepted, name three things you should learn from the listing agent before writing a competitive offer.
REMAX currently has a presence in more than this many countries and territories.
What is 120?
Your listing has had 15 showings and no offers. Name three areas you should analyze before changing strategy.
A buyer agrees to purchase a home for $550,000, but the appraisal comes in at $525,000. Name two ways the deal could still move forward.
An agent closes a $600,000 sale with a 2.5% commission. The agent is on a 75/25 split. Before any additional fees, how much does the agent earn?
$600,000 × 2.5% = $15,000 gross commission
$15,000 × 75% = $11,250 to the agent
What's the difference between a lead-generation activity and a lead-conversion activity?
Generation creates the opportunity/contact; conversion moves that contact toward an appointment or client relationship.
REMAX was founded in this year.
What is 1973?
Two similar homes sell for very different prices. Name four factors that could explain the difference.
A seller accepts an offer but continues receiving interest from other buyers. Explain the difference between a backup offer and simply continuing to show the property.
A backup offer is another written offer positioned to become effective if the primary transaction falls apart, depending on the contract terms. Continuing to show simply keeps the property exposed to potential buyers and does not automatically create a backup contract.
An investor wants an 8% cap rate. A property has an NOI of $80,000. Approximately what price would meet that target?
$80,000 ÷ .08 = $1,000,000
What is one sign that you have a true system rather than simply relying on memory or a to-do list?