Real Estate Stumpers
A home has been on the market for 60 days with multiple showings but no offers. Name three things you would analyze before recommending a price reduction.
Showing feedback, competing inventory, recent comparable sales, price-to-value relationship, condition/presentation, days on market, market trends.
What is the difference between market value and assessed value?
Market value reflects what the property could reasonably sell for in the current market; assessed value is used for taxation and is determined under the applicable local assessment system.
What is the criteria for a property to qualify for the Howard Hanna Money Back Guarantee?
A Hanna listing, free-standing single-family home, priced between $60,000 and $600,000, with the seller's authorization.
You want to set up a consumer on an automated email campaign. Where do you go?
H-Suite-Email Marketing/Active Pipe.
You have 30 minutes between appointments. What do you tell yourself you're going to do?
“I'll grab something to eat.”
Your CMA shows three comparable sales ranging from $350,000–$400,000. Your seller insists the house is worth $450,000 because “we put $100,000 into it.” What is the biggest problem with that argument?
Cost does not necessarily equal contributory market value.
Why can a comparable sale from six months ago sometimes be less useful than a sale from last month—even if the older property is physically more similar?
Market conditions may have changed. Recency can be critical when the market is moving.
A seller says, “I want to be proactive and stay in touch with my potential buyers automatically.” You want to put them on an auto-nurture campaign. Where do you do that?
Real Scout in H-Suite.
An agent says, “I know Howard Hanna has a tool for that, but I can't remember what it's called.” What should they do before Googling for an outside solution?
Check H-Suite. (or ask your manager)
A client says, “We don't want to bother you on the weekend.” What does the REALTOR® secretly think?
“That's actually when I work.”
A buyer's offer is $10,000 below asking price, but has significantly stronger financing and fewer contingencies than another offer. What should the listing agent emphasize to the seller?
Compare the entire offer, not just purchase price—financing, contingencies, timing, likelihood of closing, and other terms.
Your seller says, “We can always come down in price, but we can't go up.” Why is this statement important when establishing an initial list price?
Overpricing can cause a listing to miss its strongest initial exposure, accumulate days on market, and potentially develop a negative market perception.
A new agent asks, “Where should I go first when I need help with a Howard Hanna system or resource?” What is your answer?
H-Suite—your starting point for accessing Howard Hanna's technology and resources. Specifically, Hanna U.
True or False: Knowing that a Howard Hanna tool exists is enough. You also need to know where to find it and how to use it.
True.
You finally sit down for dinner and your phone rings. What are the odds it's a personal call?
Very low.
A property has excellent updates but backs up to a busy road. Should the road automatically result in a specific dollar adjustment in your CMA?
No. The adjustment should be supported by market evidence/comparable sales rather than an arbitrary dollar amount.
A buyer asks you, “What do you think this house will appraise for?” What is the safest professional approach?
Explain that an appraisal is an independent valuation and avoid representing your estimate as an appraisal. You can discuss comparable sales and market evidence.
An agent tells you, “I don't need to learn all these systems. I just need more leads.” What is the better Savvy Howard Hanna agent response?
The technology and systems are designed to help agents work the business they generate, stay connected with prospects and clients, and build relationships—not simply provide leads.
A buyer isn't ready to purchase today but wants to receive relevant property information automatically. What is the business opportunity you're trying to create?
Nurture the relationship until the buyer is ready to act. (Real Scout)
A buyer says, “We love this house!” What is the next sentence every REALTOR® fears?
“But we'd like to sleep on it.”
Your listing receives 20 showings, but virtually every buyer says the same thing about the kitchen. What does that tell you that your CMA might not?
The market is providing current buyer feedback about the property's condition and perceived value. The issue may be price, condition, or both.
A property receives several showings but no offers. Another property nearby receives an offer after only three showings. What question should you ask before concluding that “buyers aren't buying”?
What is different between the two properties? Price, condition, presentation, location, terms, marketing, and buyer perception should all be analyzed.
Name three Howard Hanna resources or systems that can help an agent build their business without purchasing leads from a third-party lead company.
Multiple acceptable answers. 500 Bonus points for explaining how each resource actually generates or develops business.
Your prospect tells you, “I'm just looking online for now.” What's the biggest mistake an agent can make?
Assume they're not a real prospect and stop following up.
What do REALTORS® say when they have absolutely no idea what's happening?
“Let me check on that for you.”