The Listing Agreement Where it all starts !

Listing Agreement  An employment contract between: Property Owner Real Estate Broker  Salesperson represents the brokerage firm  Spells out the specific terms Seller’s terms of sale Broker job description & authority to sell Broker’s compensation (commission) Seller’s responsibilities Beginning and Ending (expiration) Dates

Types of Listing Agreements  Open listing – One or More Brokers Least Desirable No Time Limit – First to Perform Wins! Owner may withdraw anytime before sale Owner may sell it themselves-No fee! NO MLS

Exclusive “AGENCY” Listing  Only one Company/Broker (Agency) Authorized to represent seller BUT seller may also sell it themselves May be on MLS but risky for broker! Do not confuse with :  Exclusive Right to Sell

Excusive Right to Sell Listing The Residential Listing Agreement CAR Form RLA  Best Agreement !  Employs a specific Company/Broker  Seller cannot sell it themselves If so, Broker still owed fee. Cooperating Brokers offered compensation through MLS.

Listing Appointment - Be Prepared !  Physically & Mentally  Arrive On Time (Plan Your Time)  Have a Plan & Script  Bring All Materials Visual Aids Contracts & Disclosures Sample Advertising, Flyers, etc. Digital Camera Laptop (not absolutely necessary)

Listing Presentation-Why List/Buy with me?  Visual Aids: Print, Photo, Lap Top, CD, On Line About You….  Background  Education & Experience/Career(s)  Interests, Family, etc About Your Company…  Established in Community, Management  Office Location(s)  Local, Regional, National Affiliations Ancillary Services: Escrow, Mortgage, Title…  Training Program  Advertising Program  Office Staff & Support

The Meeting/Interview  Conversation “Ice Breakers Personality Type…  Determine Motivation Open Ended Questions:  So, what are your plans…  Describe for me…  WHEN, WHEN, WHEN ?  Introduce Agency Disclosure Discuss Agency Relationships Demonstrate Your Knowledge & Professionalism  “They don’t care how much you know, until they know how much you care.”

CAR Form RLA See Text Chapter & Sample Form  Enter all data  Describe Property  Safety Clause – Broker Protection  Authorizes Placement on MLS  Agency Relationships – Dual Possibility  Confirmation of Agency  Dispute Resolution  Seller’s Advisory – CAR Form SA

Explain Your Services-Listing  Pre-Marketing Consultation Design Marketing Schedule Property Prep Market Analysis (CMA) Net Proceeds Estimate Advertising Plan & Design Property Showing Plan Contract Review & Analysis Preparation of Documents:  Counter Offers  Disclosures, etc. Sale/Escrow Monitoring  Home Inspections  Required Reports  Time Table & Deadlines

Your Marketing Plan  Property Preparation Photographs Flyers & Brochures Pre – Marketing: Data Base, Internet, Office Paperwork for Office Enter Data in Multiple Listing Service Install Lock Box (?) Broker Open House Public Open House