1- Please list and describe five methods that are used to prospect for listing in real estate industry.
There are some ways to get listings in real estate which the agent uses as
1- door knocking
2- what is “Business development area” or (Farming area) and please explain five ways of how would you develop it.
Business development area is subsidiary group of business sectors and trade and regulatory concept, also is making great value which lasts for a long time and could be any efficacy by any organization from clients, markets, and rapports in addition for that it consider profit or non profit project. Farming area is provincial region which is remote from cities, villages, it’s practice of farming also deals with renting, incomes, and gst.
Some ways to develop your business are:
1-knowing your clients, and understanding their requirements and provide them with your services which met their needs and improving these utilities, also getting know your clients by allotment your services and encourage them to provide them with their comments.
2-make sure that your clients’ service is and progressing, therefore they recollect you and recommend you to others.
3- taking care of your current clients and creating new chances, by using plans to care your current clients as remaining in connect with them by newsletters, and telling them by promotional events earlier, also seek chances to obtain more work, and find new clients.
4- utilizing internet to promote your job to prospective clients and obtaining worthy information by listening to what they say and watching their conduct, in addition identifying basic directions to your potential market, also ameliorating your clients service and creating your profile.
5- presence networking activities, and construct your webs, which permit you to establish good rapports with other people which assess you get clients by word of mouth.
3- Social, Political and Economic factors influence residential house prices in different areas. Please explain in your own words what theses influences.
There are number of aspects which has big impact on the price of the property.
1- Social, the area which the house in it could has big impact on the price. If the house is close to the schools, shops, hospitals, and other facilities also people prefer areas with same language and culture, this could increase the price and demand on it.
Political, which means the decisions and laws which made by government effects on real estate market and the immigrants who came from overseas made the price rising, many of theses immigrants who were forced to leave their houses and sell in any price because the war, also democratic balloting before many years had an impact on rising or dropping properties.
Economic, interest rates, economic pointer, gross domestic product, recruit data, merchandise prices has influence on properties.
4-Please explain in details why it is important to compile and gather comparable market sales information in your area.
The agent collect and compare market sales information to know the real value for rental value of the property, and to provide the client with estimate price for the property.
5- During a listing presentation, a real estate agent uses a “listing kit”. What is the purpose of a listing kit and what documents may be in a listing kit.
The purpose of listing kit is:
1-It makes the agent seems commendable and vocational.
2-display you and your employees
3-effect on the seller or the owner
4-supplement your verbal listing presentation
5-essence information which you present
6- qualify you to get about during the listing operation with correct flowing
7-prepare reference list to not forget anything
8- provide you feature against your competitors
The documentation which included in listing kit are:
2-other agency documents
3- sales authorization
6-When you carry out a listing expectation, what are some of the features of the property that would you record
2- type of property, age, magnitude of the property
3-size of land
4-situation of the property
6- current usage of the property
8-any amelioration, address details
9- any current mortgaging details
10- owner intention to sell
7-Why is it important to correctly prepare and execute an Agency agreement?
It provides you with the time, and assess you to manage the business in the effective method, also you can’t get your commission if you don’t prepare the agency rightly.
8- why do you think is important for the Listing agent to be aware of the local market conditions prior to going out and doing a presentation.
The agent should know what are market terms before presenting to give exact details about theses terms which could influence on selling or renting customer property, also awaring of the local market will help the agent to edify the customer about some sides as: 1-The cost in multiple parts of the local market. 2- Any sections are in request.3-What parts inefficient. 4- In a comprehensive way the level of activity.
5-Probable delay in the due course for selling or leasing property. 6- Profiles or potential purchasers or tenants.
9-Successful agents are good at “Networking”. Please explain your opinion of what “Networking” is, and give a real estate example.
Networking is exchanging ideas and information between individuals and collections, which takes a part in combined benefit for social, commercial reasons.
For example, real estate agent connects with other companies or agencies in the government and private sector when renting a property.
10- Please discuss some of the agencies fees, services and charges that you would negotiate with a potential vendor during a listing presentation.
Negotiating with potential clients about your commission which could be 3.5% from house price or more, in addition for services that you will provide him as free advertising, and marketing costs, Gst costs,auction fees, repairs and renovations fees.
11-During a listing presentation what are some of the methods of sale that you could offer the potential vendor? In addition, why
Some of the selling methods, which the agent present to the potential vendor are:
Auction, private treaty, tender, also auction, which is public and everyone can join it, also its expensive and fast to sell property, in addition its very valuable and there’s powerful request.
Private treaty when the seller put the price in consultation with agent and give the agent the power to accept or refuse the offer.
Tender, which is rarely used to sell properties, that has difficulty in selling by auction or private treaty and which is commercial and private property.
12- If you were unsuccessful in ME/MAand it goes to another agent and is marketed for sale, what action would you take?
Calling the vendor and know what’s your mistake to fix it also, the way that you will use to improve your marketing methods,and using new strategies to advertise the property.