2. Listing The Property 1)Meet with the seller of the property 2)Prepare a comparable market analysis 3)Review existing properties on the market in the area 4)Evaluate property condition and compare to comparables to establish proper value 5)Give proper pricing and condition evaluation (if it has problems, tell them) Prior to listing the property 1)Get information from the seller on the property location 2)Evaluate seller’s motivation for selling 3)Arrange a meeting with the seller to view the property 4)Discuss “marketing plans” with the seller Meeting the seller Don’t assume anything

3. The Comparable Market Analysis 1)Provide and indicate what other properties are selling for 2)Indicate the time that properties are taking to sell 3)Review the pricing of said properties from beginning of the listing to the final contract 4)Review the condition of the property as compared to the comparable 5)Indicate the “pros & cons” of not being aggressive with the pricing from the beginning (if they are willing to settle for a lower price, do it now! This will save them time and money should a buyer come around now. That buyer may not be around later. 6)Regardless of the “marketing plan” selected; always be helpful to get the property sold more quickly! Always be helpful regardless of the marketing plan! Seller will be thankful, happy and will purchase his/her next property sooner with you!

4. Pricing Property Too High Passive Pricing  Many seller will want to see what happens, then lower the price later Solution a)Failing to price properly may result in loosing a potential buyer that may be willing to procure the sale b)Failing to price properly will result in a longer listing period c)Failing to price properly could result in the market going down and the eventual selling price being even lower Don’t make this mistake The listing will go stale and no sale will occur; Avoid fishing explorations

5. Market Pricing Price In The Middle Of The Pack  Seller does not wish to be aggressive, but will stay somewhere in the middle as compared to other listings Solution 1)Seller must be made aware of the time that others have taken to sell 2)Compensating incentives will be needed such as a “higher co-op commission” to motivate agent showings 3)The property will be less attractive to many buyers 4)Encourage adding a warranty, closing help or some other buyer incentive 5)Make seller aware of the listings that have “expired or withdrawn” with similar pricing Add compensating incentives for buyers and agents Get the best price immediately

6. Proper Property Pricing 10% 60% 90% Property PricePotential Buyers Market Value Above Market Value Below Market Value Buyers are generally at or below market value -20% -10% +5% +15%

7. Overpricing Property 1 st Month 2-3 Months Later Property Value Pricing -2% -4% -7% -10% Property Price & Interest Will Sink Quickly When Priced Too High Initial Interest -15% -25% -50% -70% The Longer On The Market; The Less Interest

8. Get The Property Sold Seller Goal Sell The Property Proper Pricing Successful Sale Agent Goal A HAPPY SELLER Purchase Another Property With A Happy Seller