1. Real Estate Marketing and Sales Essentials Steps for Success Dan Hamilton

2. Negotiating and Closing Introduction:

3. Negotiating and Closing Negotiating means coming together to a reasonable conclusion.

4. Negotiating and Closing Nonverbal Communication Nonverbal communication is all of the communication two or more persons send and receive without the use of words.

5. Negotiating and Closing Verbal Communication The basis of communication is the verbal interaction between people.

6. 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.

7. Negotiating and Closing Negotiating Strategies The first thing you need to do before presenting an offer is prepare.

8. 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?

9. 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.

10. 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.

11. 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

12. 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.

13. Negotiating and Closing Mortgage Companies Mortgage companies generally provide the funds to allow a buyer to purchase a property.

14. 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.

15. Negotiating and Closing Mortgage Bankers A mortgage banker is a lender who can actually funds the loan at the time of closing.

16. Negotiating and Closing Mortgage Brokers A mortgage broker is a company that originates and processes loans and delivers them to another lender for funding.

17. 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.

18. Negotiating and Closing Summary: