Listing Preparation Techniques
Name one way that you can be more prepared when it comes to real estate.
Possible Answers: Know your neighborhood, be knowledgeable about the industry, develop a solid technique.
Name one thing you can do when inspecting a potential property (p.184).
Possible Answers: Find the messiest house on the street, Inspect landscaping, determine the condition of the paint, Assess condition of roof
How can a boilerplate be helpful in real estate?
Possible answer: saves time, can be used over and over
What is one thing you can do to help make your initial appointment with a client successful?
Possible Answers: Take measurements, be knowledgeable, look for things to complement, find things in common, ask specific questions
Which leading question are you most likely to use and why?
Answers will vary
Name one of the three things that you should do when first inspecting a by-owner home (p.174)
Make notes of the colors, Convert time on the market to days, try to get the homeowners to ask if you can sell the place.
Why is it beneficial to find the messiest house on the St (p.184)?
It demonstrates your knowledge of the neighborhood.
Name one other industry/professional that might use a boilerplate (p.189).
Possible Answers: attorney, doctor, architects
What are the two steps that Hopkins mentions (p.191)?
1. Schedule an appointment
2. The actual listing presentation
Name one of the seven categories that might spark a leading question (p.196-197)
1. Past selling experience
2. past challenges
3. need to sell
4. their value
5. her likes
6. loan information
7. tonight's table
What does REO stand for (p.177)?
Real Estate Orphans - People who are unhappy with the service their agent gave them when they bought their home.
What does Hopkins suggest you do if you notice that the house you want to list is in need of repainting (p.185)?
Scrap off a small amount of paint chips with a knife and put in an envelope.
Name one of the 8 disadvantages that might need to be reflected in the market value of a property (p.190).
1. known flood or earthquake danger
2. build on a landfill - danger of settling
3. located on or behind a busy street
4. Tributary Streets leading to main highway are congested
5. Industrial or aircraft noise
6. Downwind from garbage dump, hog farm, pulp mill, or nuclear plant
7. No sewers
8. Elementary school located on other side of major high-way
If the potential seller is comfortable with you measuring one room in the house, what does Hopkins suggest you do (p.193)?
Measure every room in the house
Where does Hopkins suggest you have your initial meeting in the home?
According to Tom Hopkins what should you do when you find an REO family?
Adopt them
Which loans of potential buyers might be affected by an older roof?
FHA, VA, or government-insured loans
If the seller wants to conceal a particular disadvantage, the buyer must be _________ about that disadvantage.
told
What is the main reason for the step one meeting? HINT: What question are you trying to answer?
You are trying to answer the question "How can I list these people?"
When you are taking a listing, the most powerful tool in the world is to know why they need to _______.
sell
Name two of the six items that belong on your comparable market analysis.
Names of People, Outside Color, Price and Terms, Time on Market, Urge to Sell
According to Hopkins, what is one thing that everyone marketing a property is afraid of?
suprises
According to Hopkins, what might happen if a seller fails to conceal a major challenge from the buyer?
The buyer might back out at the last minute
What two words does Hopkins suggest you learn regarding a home's water heater?
Galvanic corrosion
What is one of the most important questions you should find the answer to according to Hopkins?
What are they thinking about price?