Transcript Real Estate Marketing and Sales Essentials

Real Estate Marketing
and Sales Essentials
Steps for Success
Dan Hamilton
Negotiating and Closing
Introduction:
Negotiating and Closing
Negotiating means coming together to a
reasonable conclusion.
Negotiating and Closing
Nonverbal Communication
Nonverbal communication is
all of the communication two
or more persons send and
receive without the use of
words.
Negotiating and Closing
Verbal Communication
The basis of communication is the verbal
interaction between people.
Negotiating and Closing
The Five Rules of Active Listening
1. Limit your own talking.
2. Don’t interrupt.
3. Notice nonverbal communication.
4. Use an appropriate setting.
5. Use lots of questions.
Negotiating and Closing
Negotiating Strategies
The first thing you need to do before
presenting an offer is prepare.
Negotiating and Closing
Keys to a successful presentation:
Step 1 — Do not discuss any aspect of the offer
over the telephone.
Step 2 — Review the facts about the listing
including number of showings, days on
the market, and feedback.
Step 3 — Update the comparable sales in the area
for any changes that may have occurred.
Step 4 — Make up a new seller’s net sheet.
Step 5 — What are the benefits of this offer?
Step 6 — What are the possible objections?
Negotiating and Closing
Seller’s Net Sheet
A seller’s net sheet is a document that allows
the seller to examine all the possible costs
associated with selling a property.
Negotiating and Closing
Negotiating a counteroffer:
Step 1 — Start by reducing the net
difference.
Step 2 — Confirm that the seller’s objection
is the only thing standing in the
way of the sale.
Step 3 — Negotiate a counteroffer from the
seller.
Negotiating and Closing
Presenting a counteroffer to the buyer:
1. Go directly to the buyer.
2. Discuss the seller’s concessions.
3. Present the seller’s counteroffer.
4. Overcome any objections.
1. Selling price
2. Down payment
3. Monthly payments
Negotiating and Closing
The Closing
• The closing is an action as well as a process.
• The action is when the buyer and seller sign the
closing papers.
• The closing process begins at the signing of the
purchase agreement and goes through closing
action.
Negotiating and Closing
Mortgage Companies
Mortgage companies generally provide the
funds to allow a buyer to purchase a property.
Negotiating and Closing
– The mortgage company can provide the buyer
with pre-qualification or pre-approval.
– The pre-qualification is not a guarantee of a loan.
Several aspects of the buyer could prevent them
from getting a loan.
– On the other hand, a pre-approval is the lender’s
word that this buyer will be able to buy if the
house they find meets the lender’s approval.
Negotiating and Closing
Mortgage Bankers
A mortgage banker is a lender who can
actually funds the loan at the time of closing.
Negotiating and Closing
Mortgage Brokers
A mortgage broker is a company that
originates and processes loans and delivers
them to another lender for funding.
Negotiating and Closing
Title Companies
After the contract has been signed and the
method of finance chosen, the title insurance
company is retained to make sure that all the
details come together and that the buyers
receive insured title to their property.
Negotiating and Closing
Summary: