Ch. 10 Second Appointments

Question 1

What is the Second Appointment? Whys it Important?

Answer 1

Your success of the second listing appointment will be a direct result of the quality of your first listing appointment.

This meeting focuses on:

• Agreeing on the property value
• Underwriting the expenses, actual and pro forma
• Establish whether or not a sale will accomplish the sellers goals and overcoming any concerns they have
• Obtaining the exclusive rep agreement
• Leaving the client with a positive impression of our firm
• Continue to develop long term relationships
• Reinforcing the VALUE OF REP

Question 2

What Concerns may come from the CLIENTS POV?

Answer 2

• Do you have the experience to handle the property?
• Do you and the firm have a reliable source of buyers?
• Do you have superior knowledge of the market?
• Do you have the capability to influence the process?
• Does the client respect you and think that he would enjoy working with you to achieve his goals?
• Are you concerned about the clients best interests?
• Do you have an organized marketing plan?
• Will you handle confidential info appropriately?
• Do you bring enough value to the process to have earned an exclusive listing and appropriate commission?
• Is an exclusive really in the clients best interest?

Question 3

What is the Agenda of the 2nd Appointment?

Answer 3

Outline the specific agenda items you will discuss:

Here’s what I’m going to go through now:

• How we analyzed your property
  
  • Rent comps, Sales Comps, On Market Comps: Income/expenses: historical, current, pro forma, Your NOI vs new buyers NOI
• How we would sell your property
• And how we would price and position it

Question 4

What do you summarize before closing?

Answer 4

Quickly summarize what you have discussed and proceed to closing and negotiating a listing agreement if warranted.

“So we agreed that”

• The implications of selling are____
• The implications of not selling are_____
• We agreed on pricing and positioning