Real Estate

Listing & Sales

Techniques
Prepared for the

Georgia Real Estate

Association
by
Gail Lyons,
ABR, CCIM, C-CREC, CIPS, CRB, CRS, DREI, QSC, SRES
 Overview
1. Getting started: learning your market
finding prospects
2. Working for sellers
3. Working for buyers
4. Negotiating the purchase contract
5. Due diligence & closing
6. Ethics & professional practice
7. Continuing education
 Getting Started:
Who Are You &
What Are Your Skills?
1. Please complete the Survey (handout #1)
2. Form into groups of threes (3s): decide who will be
the “broker”, the “prospective agent” and the
“observer”.
Using the questions on the Survey, the broker will
interview the prospective agent (5 minutes) while
the observer listens.
Switch roles so that everyone has a different role
and repeat (5 minutes).
 Getting Started:
Who Are You &
What Are Your Skills?, continued
3. Prospective agents: If you were the broker,
would you hire yourself?
4. Brokers & Observers: What did you like best
about the Prospective Agents?
This interview may be similar to one you’ll
have in “real” life.
The rest of today’s class is designed to
prepare you to be as successful as you can be!
 Getting Started:
Learning Your Market
To be successful, you must know your market
as well or better than anyone else.

1. Develop a data base to organize information

2. Collect information in as much detail as possible
a. demographics
b. market size and activity
c. price range
 Getting Started:
Learning Your Market
3. Where are shopping, schools,
recreational facilities, etc. located?
4. What laws govern property use?
5. What laws govern real estate
transactions?
6. What else do you need to know
about your market?
 Getting Started:
Your Tools
1. Professional wardrobe 10. Purchase contracts
2. Listing catalog 11. Mortgage calculator
3. Brief case 12. List of mortgage
4. Tape measure companies, surveyors, etc.
5. Screwdriver, pliers 13. Signs, lockboxes, etc.
6. PDA or appointment book 14. Company policy manual
7. Maps 15. Buyer’s handbook
8. Data base 16. Seller’s handbook
9. Listing forms, contracts 17. ___________________
 Getting Started:
Finding Prospects (handout #3)
1. Develop an effective data base to
retain names, addresses, phone
numbers, contact history, etc.
2. List potential referral sources
a. Relatives

b. Friends

c. Business contacts
 Getting Started:
Finding Prospects, continued
3. Contact referral sources
a. Send an announcement letter
b. Include your business card
c. Stay in touch: 4 times/year minimum
4. Join organizations: meet people =
“social farming”
5. Establish a “geographic farm”: become
the expert (handout #2)
 Getting Started:
Finding Prospects, continued
6. “Opportunity time”
7. Target likely prospects
a. Mailing lists/membership rosters
b. Announcements in newspapers
8. Increase your visibility
a. Develop & distribute a newsletter
b. Hold open houses
c. Advertising
9. “Cold calls”
Understanding Why People Buy
& Sell Real Estate:
It’s Usually Personal!
1. Death 7. Marriage
2. Divorce 8. Birth
3. Illness 9. Promotion
4. Financial 10. Expression
pressures 11. Unexpected
5. Loss of wealth
employment 12. Prestige
6. Job transfer 13. Investment
 Duties Owed to
Your Clients
1. Usually based on law/regulation/custom
2. Six primary “fiduciary” duties
a. Loyalty
b. Keep personal information confidential
c. Obedience
d. Reasonable skill & diligence
e. Disclose all known facts
f. Accounting for money & documents
 Conflicts of Interest
1. Occur when the duties you owe to one
person conflict with the duties you owe to
another person, including yourself!
2. Conflict must be disclosed immediately
and a solution agreed upon; put the
solution in writing signed by both parties
3. If no solution can be agreed upon,
terminate one or both relationships
 Responsibilities to
“Other” Party
1. Fair and honest treatment
2. Disclosure of all known facts about the
transaction and property
3. Disclosure of fact you are expected to
know
4. No misrepresentation: know the facts
and don’t guess
5. Fully explain any documents that
require signatures
 Responsibilities to
the Public
1. No discrimination
2. Provide competent service
3. Don’t undertake a job you’re not
qualified to perform
4. Do not do any advertising that’s false,
misleading or a misrepresentation
5. Do not do anything contrary to the law
 Responsibilities to
Other Agents
1. Do not knowingly make false or
misleading statements about your
competitors
2. Do not take any action
inconsistent with the agency of
another agent
3. Disclose your client relationship to
other agents at first contact
 LISTING: Working for Sellers
Finding Potential Sellers
1. Geographic farming 9. Advertising for
2. Divorce/marriage specific properties
3. Death/illness 10. Moving companies
4. For-sale-by-owners 11. “Furniture for sale”
5. Expired listings 12. Business transfers
6. Foreclosure notices 13. Homebuilders
7. Neighbors of new 14. Social farming
listings 15. Attorneys/bankers
8. Out-of-town owners 16. Referrals
 LISTING: Working for Sellers
Seller Counseling Session-1
1. Prepare yourself
a. Dress professionally
b. Be prompt
c. Prepare CMA (handout #4)
2. Prepare prospective seller
a. Establish rapport
b. Agree on common agenda
c. Permission to ask questions
 LISTING: Working for Sellers
Seller Counseling Session-2
Using Seller’s Handbook (sample) as a guide
1. Discuss your role as advisor/advocate, your company &
yourself
2. Discuss your role as marketer
3. Discuss CMA (actives, solds, expireds) /importance of
pricing
4. Review seller’s options
5. Review listing contract (sample & CD)
6. Discuss how you & selling agent are paid
7. Determine seller’s motivation, timing
8. Discuss preparing the home for the buyer’s eyes (book)
 LISTING: Working for Sellers
Seller Counseling Session-3
Ask: “If we find a buyer today willing to pay
your price, are you ready to sell?”
Then either
A. Present the listing contract again and
ask for their signatures OR
B. Ask them to review all the information
you’ve provided and make an
appointment to discuss any questions
and finalize the contract
 LISTING: Working for Sellers
Marketing
1. Prepare MLS brochure for competitors
2. Put sign in yard, fill brochure box
3. Enlist seller’s help in keeping brochure
box full
4. Put key box on front door
5. Give office showing instructions
6. Create advertising: Internet, newspaper,
flyers
7. Prepare Property Guide for inside home
 LISTING: Working for Sellers
Communication
Communicate with your seller…even when
there’s “nothing” to say!
1. Tell the seller what you are doing to
market the property
2. Collect feedback from showings, tell the
seller
3. Contact seller at least once a week
4. Review feedback with seller monthly,
discuss possible price change
5. Hold “open” houses
 SELLING: Working for Buyers
Finding Potential Buyers
1. Your sellers! 6. Your niche market
2. If your sellers are 7. Home buying
not buying here, seminars
refer them to an 8. Your web site
agent to which
9. Divorce/marriage
they’re moving
10. Expanding families
3. Geographic farming
11. “Empty nesters”
4. Social farming
12. Just promoted/fired
5. Referrals from
professionals, other 13. Hold open houses
agents, friends, 14. “Opportunity time”
relatives 15. _______________
SELLING: Working for Buyers
Buyer Counseling Session-1
1. Prepare yourself
a. Dress professionally
b. Be prompt!
c. Prepare information on possible
properties
2. Prepare prospective buyer
a. Establish rapport
b. Agree on common agenda
c. Ask permission to ask questions
SELLING: Working for Buyers
Buyer Counseling Session-2
Using Buyer’s Handbook (sample) as a guide
1. Introduce yourself & your company
2. Explain your role as advisor and advocate
3. Review the steps involved in purchasing
4. Review due diligence between contract & closing
5. Review sample contracts
a. Buyer agency agreement (sample & CD)
b. Purchase agreement (sample & CD)
6. Discuss current market & available properties
SELLING: Working for Buyers
Buyer Counseling Session-3
7. Specify buyer’s wants & needs
8. Determine buyer’s financial
qualifications

Ask: “If we find a property today that

meets your needs, will you be in a
position to buy?”
SELLING: Working for Buyers
Buyer Counseling Session-4
Then either
A. Present the buyer agency
agreement again and ask for their
signatures OR
B. Ask them to review all the
information you’ve provided, make
an appointment to both finalize the
contract and show property
SELLING: Working for Buyers
Showing Properties
Selecting and previewing properties
1. Match buyers’ wants and needs
with currently available properties
2. Preview matches
3. Make appointments to show “best”
matches
4. Plan “tour” route
SELLING: Working for Buyers
Showing Tips
1. Play the “priority” game: keep focused
on just 2-3 properties
2. Compare pros/cons of properties
3. Encourage note taking
4. Encourage client opinions
5. Ask probing questions
6. Serve as a “sounding board”
7. Listen carefully
SELLING: Working for Buyers
Handling Objections
1. Always answer honestly
2. “I don’t know but I’ll find out.”
3. Restate objection as a question
4. Correct misinformation
5. Ask “why” questions carefully
6. Watch for “buying” signals
7. “Have I answered all your concerns or
do you need more information?”
SELLING: Working for Buyers

!!!LISTEN!!!
NEGOTIATING THE CONTRACT
Purchase & Sale Agreement
Essential Elements Terms & Provisions
1. Competent 1. Price
parties 2. Possession
3. Personal property
2. Timely
acceptance 4. Means of conveyance
5. Pro-rations of taxes &
3. Unique legal insurance
4. Consideration 6. Closing costs
5. Mutual consent 7. Contingencies
8. Property disclosures
NEGOTIATING THE CONTRACT
Presenting the Offer
1. Provide seller with a complete “picture” of
the buyer:
2. Present terms of offer
3. Explain contingencies/special conditions
4. Present buyer’s financial capability
5. Encourage acceptance
6. If seller is unwilling to accept as is,
negotiate using counterproposals (sample)
 DUE DILIGENCE & CLOSING

1. Coordinate with listing agent

2. Prepare checklist of all steps & dates
3. Maintain transaction file of all meetings,
correspondence, documents, phone notes
4. Assist your client with timely information,
emotional support
5. Communicate regularly
6. Make sure all dates are met
7. Schedule & participate in closing
 “CLIENTS FOR LIFE!”

1. Perform with highest possible

professionalism during transaction
2. Call on client shortly after closing
3. Keep in touch at least 4 times each year
4. Establish yourself as their professional
REALTOR
a. For their future real estate needs
b. To refer friends/relatives/colleagues
 Ethics &
Professional Practice
1. It pays to do the right thing
2. Honest & ethical behavior bring rewards
3. The only answer to building a good, lasting
reputation
4. Never let the pursuit of money determine
your behavior
5. NAR’s Pathways to Professionalism
(handout #5): show respect to everyone!
 Continuing Education:
Keeping Ahead of the “Game”
1. List the topics you’d like to learn more
about: _________________________
2. Let’s make a combined list.
3. Continuing education and training are
critical to your success in real estate.
4. Sources
5. Designations
6. Have an education goal every year.
We hope you’ve enjoyed this class.
We hope it will increase your
success.
I’ve certainly enjoyed being with
you and have learned from you!

გმადლობ, გმადლობთ !

Gail Lyons &

International Real Property
Foundation