1. In a property listing business, the real estate firm can secure property listing.
Recruitment of right people: The person hired in a property listing firm must holds adequate knowledge about the prices, size and area of different properties. An employee of property listing firm always presents quality properties to their customers on lower prices.
Requirements of clients: By putting the needs of clients in priority list real estate firm can secure its listing. If a firms work according to the needs of the clients then it earns a good name, which is important more than money.
Qualitative approach: The main motto of the firm is to provide quality over quantity. Then only it will become possible to secure property listing.
2. Legal requirements should be made while doing property listings. All registration in regard to the business should be kept upto date. All information of the property should be made public. The area or which is also known as the carpet area should be defined and made available. All the information regarding the property should be true in nature. Nothing should be hidden from the buyer or prospect buyer. There should not be any change in the plan as mentioned in case they are compelled to then it should be consulted and should come out a soultion upon proper interaction. The main aim should be serve the customer and buyer and try to solve their problem. Should not carry out any kind of fraudulent activity what-so-ever. Should abide by the law of real estate agency practice laws and act accordingly.
3. Below are the three strategies I would like to implement in my agency in order to attract property listing:
Targeting particular area: By targeting particular area, a firm can become the first choice of the neighborhood, moreover if any new in mate joins the hood he/she will also be told about our firm.
Website: A website should be always there, so that in odd hours a client can visit our website and see what we have to show them.
Social media: In order to involve with the clients or to attract new customers, it is really important to be available on social media to answer the queries of clients and to provide them newer information.
4. Personally I would implement a marketing system that will give more importance to the consumers or buyers. As, a property business depends upon the demands of the buyers. My team will interact with the buyers socially as well as personally and will put forward all the demands of buyers with priority.
5. Potential clients are those clients that may become regular clients in future or who are willing to buy products or services from a seller.
We can look up for potential clients by conducting a survey.
By advertising on Search engines.
Social media is a key to search for potential clients.
We can also use the data of our website to search more interested clients.
Market data of rival firms can also be used for research on clients.
6. Following are the methods or points I would use as a sales agent to increase business or repeat business orders:
Regular follow-up: Regular follow-ups with existing clients increase the chances of repeating orders with them. On the company’s end these follow ups may results in better brand image.
Exciting Offers or Discount: As a sales agent I would always give a personal discount to each of a client attended by me, this will not only earn a regular client but that client will recommend our business to everyone.
Sweetness: It is an old saying that “if you can’t give sugar, you should sound like sugar”. So it is another key for a sales agent to build personal relationships with clients.
7. It is really important for one sales agent to stay in contact with other sales agent as well as managers because, it just not only keeps a sales agent updated about various properties but it also give them a chance to earn commission, and if any client has specific requirements that can be fulfilled by a specific manager or sales agent then that client will be re-directed to that sales agent or to that manager in return of a brokerage to the agent that referred that client to them. It is an important part of sales agent job to maintain his relations with customers as well as with other sales agents and managers.
8. A) E-mail enquiries for commercial properties are handled by specific online sales team, and the potential buyers are provided with few pictures of commercial properties with their details and additional offers are presented to them such as: 5% Money back etc
B) Phone enquiries regarding retail property are handled by receptionist that ask the clients about their specific requirements and then further forward their calls to concerned person.
C) If client contacts through website regarding industrial property, then he is directed to our industrial sites page, where the information about such sites are available with other good offers.
D) During an open house if any clients ask for details of holiday house, then he is guided through graphic representations (PPT) about various holiday houses, their price, additional offers etc.
E) If a clients come face to face for residential properties then first of all he is given a welcome gift such as free movie coupons, mugs, photo frames etc. Then the client is further taken to sites, if he/she is not free then a proper PPT is made according to their requirements and then it is later sent to their mails so that they can select the best according to needs.
9. A sales manager or a sales agent will always be benefitted, if he maintains a good rapport with the potential clients. A potential client is someone who is intended to buy or will buy in future. So a sales agent just can’t ignore such clients just because they are not buying any property for now. Maintaining a good rapport with potential clients is also a moral responsibility of sales manager or agents because it will ultimately results in the profit of the firm. A firm having 10 real clients and 5 potential clients will always win over a firm that has 12 real clients and 0 potential clients. Hence it is really important to maintain a good rapport with potential clients.
10. Below are the rapport techniques that will be used in each case:
In this case as the buyer is only 18 and buying a property for the first time, all the legal requirements from his end will be done by us and he will not be charged for anything extra.
Another rapport building technique is to constantly confirming about their well being and security. This will create a positive impact on the buyer.
As in this case the seller is having hearing problems, he will be provided by a hearing aid by our agency just to show a good gesture.
Another technique will be to conduct all his meetings with the potential buyers, so that he does not face any difficulty in selling his property.
As the seller understands very little to no English, in this case he will be appointed by a sales agent who understands his mother tongue.
Another technique will be is to list the property of this client in top of the list as he is 65 years old and maybe he is in need of money.
11. Owner of a tower (Commercial property)
12. Communication is the most important skill that can be used in making a firm successful:
Spoken Skills: It can be used by a sales agent in a manner that a client cannot say no to the sales agent in listing their properties.
Listening Skills: A sales agent must have listening skills in him, as a sales agent or manager should restrict themselves from excessive talking.
Discussions: A sales agent holds skill of good negotiation; he should not be a stubborn and must crack a deal in firms and in client’s favor as well.
Influential skills: A sales agent or a manager must have influential skills or in simpler words he must have skills to influence clients in agencies favor.
Be positive: A sales agent must always carry a positive attitude towards his clients, if he doesn’t comes up with a positive attitude that will result in losing the potential or current buyers.
Knowledgeable: If a sales agent doesn’t holds right knowledge about the property, then he not look presentable and it will again result in loss for the firm.
Customer’s preference: A sales agent for making a communication successful must always put customer’s preference at first, and provide the clients with right information on their choices.
Informal & formal speaking skills: A sales agent must hold informal and formal speaking skills. He must know when to talk informally with the clients in order to give them a family like feeling.
13. Below is the list of three factors that an agent must prepare before going to a meeting with the client.
An agent must prepare himself about the type of property, the client wants to sell or buy. He should make a list about different properties if the client wants to buy and a list of different buyers if the clients want to sale his property.
A PPT would help a sales agent to look more presentable, and right knowledge about each and every property will help him make a deal.
A detailed report about client’s background must be studied, so that the sales agent gets assure of clients authenticity.
14. Total Homes Sold 45 Single Family 80% Condo/Townhouse 20% Average Sales Price $270,989 Average Days on Market of Listings 39 Homes sold in Denver 93% Homes sold elsewhere in the Metro Area 7% Average List vs Sold Price 98.2% Insert Sample Brochure & Internet Advertising Followed by Your CMA.
15. It is very important for an agent to inspect a property visually because; it assures him that the property is in right condition and is built legally according to the state law. Following are the 5 things that must be visually checked by the sales agent before listing the property for sale:
Physical condition of a property must be visually checked.
Proper size and area of the property should be measured.
All the relevant legal documents should be visually checked.
Location of the property must be checked. As nowadays even the small budget buyer’s demands good location.
If the property is of commercial nature then its capability of earning and returning a good amount must be calculated.
16. Below are the five key decision makers, who must be contacted before putting a property on sale:
Legal Authority: A legal authority of that particular area should be contacted so that it can come in to notice, if the property is having any disputes.
Sales Manager: Before putting a property on listing, sales manager must be consulted, so that if can be discussed if the property will attract a good number of buyers or not.
Owners: if the property is owned by more than one number of buyers, then all the buyers must be contacted and their consent must be taken for the sale of the property.
Other sales agent: Other sales agent must be contacted and should be asked about the history of the property. It is only done to ensure that the property do not holds any disputes on it.
Banks: Banks or financial institutions must be consulted and asked if the property is under any loan or mortgage.
17. Property market is totally influenced by the capital market of a country, if anything negative occurs in the capital market then its effects is directly or indirectly Bourne by the property market and vice versa. Vendors must be told in advance that their properties will be get effected positively or negatively according to the ups and downs of the market forces. If there is any depression occurred in the capital market then the prices of the properties will automatically falls and if there is any positive jump in the market then the prices of the properties for even the smaller ones will hike.
18. If any recommended property requires any improvements, then the best method of informing about it to vendor is to tell them about the positive after effects of improvements. If any improvement is made to the property then it will result in the hike of its price. It will then be able to fetch a good number of interested buyers if recommended improvements are made to the property. The best method is to show the vendors; earlier cases of the property that fetched a good deal after recommended improvements were made.
19. As conducted research on the price of 750sq meter of vacant land in paramatta which is 10 minutes from the Westfield shopping mall is around $800,000 to $900,000.
According to the research that was conducted it was found that the brand new two bedroom apartment in Parramatta, which is around 15 kilometers away from paramatta’s CBD will cost around $5,00,000 to $5,50,000.
20. (a) While discussing the marketing strategy with a 18 year old vendor I would first understand what are the interest he or she has. Then according to those interest will try to align my property in match to that interest. I will try to keep in front the benefits or good points of the property and how will the property will provide value. I will understand the mind set of a 18 year old and would also ask about in details about the need of the person and accordingly suggest the property showing the benefits the property will satisfy by aligning with the need.
(b) A commercial office purpose is official in nature and the location and also convenience will also be very important for such a client so we need to understand what kind of commercial activities the company is looking to carry out in the premises and thereby try to analyze how a particular property will serve those benefits. So in this case I would like to highlight some points that how the property can be very useful for their purpose and how this property can serve.
(c) The beach house is something very attractive for people who love nature and like to stay also very close to nature. It will also attract people who are fond of sea and likes to stay near sea. So we need to identify the beauty and how close it is to nature. I would also like to highlight its charm and how close it is to the sea.
21. Not only in real estate business but in every business it is very important to disclose and to tell all the product and services charges or fees to the clients, so that they do not feel cheated or looted afterwards. The best way to let know a client about fees or charges is to introduce them with different packages. For Example: if a client wants to sell his property or to buy a property then following packages are available:
Normal Package: This will include normal services with 10% cash back if the payment is made through debit or credit cards. This package will cost around $ 2500.
Silver Package: This will include good services of putting the property of a seller on top for 4 weeks and additional 15% cash back will be given to the client by the agency if the deal is confirmed. This package will cost around $ 6500.
Premium Package: If this package is bought by a client to buy a property then he will get services like a chance to win free holiday tour package if not, then an Apple I-phone is confirmed to the client for hiring Premium package services. This package will cost around $ 8000.
22. If new clients come to sign up with your agency, it is really important to comes up with the best what you have got because first impression is the last impression, and once a client is attended for the first time then he should be given space and time, so that he can makes up his mind whether to go with your agency or to move on to some other firm. It is an old saying that “if you run behind something, that thing will run away from you”. So an agency must never chase its clients. A client must be given all their freedom to choose with whom they want to do business with.
23. When we run a business that deals with clients directly or through calls, websites or by social media platforms, it becomes really important for the agency to come up with honest and correct information that is furnished to the clients. The best method of providing true information to the clients is to establish computerized standards and software’s, so that a client can put all his property details in that software’s and get an idea of the price they will receive or they have to pay in case they looking to buy a property.
24. There is a full proof procedure of confirming a deal with a client. If a client comes to an agency the first step is to ask him to buy any of the three packages as mentioned above. The second step is that the client will give a copy of the legal documents of the property. Third step is to make an affidavit with a legal judiciary stamp of the client saying that he is taking our services in order to purchase or to sale his property. The last step is the signing of the agreement between the agency and the client. After going through all this procedure, a sales agent confirms the clients deal with the agency.
25. Before confirming and listing a property on sale in the market, following documents are required to be furnished from the sellers end:
An affidavit of client saying that he is the owner of this property and is selling this property.
A legal form that will furnish all the details of the property.
Confirmation of the legal authorities of the area in which the property is located in.
All the original legal documents of the property with all the self attested photo copies and scanned copies of the documents.
An affidavit of the bank saying that the property is mortgage free.
26. As a sales agent I would use following techniques to negotiate the fees of the agency with the clients:
Personally assisting the client with 24*7 supports on property matters.
Developing inter-personal relations with the clients.
Updating the clients about various offers and information on the properties.
Verbal Skills are the key to success.
27. In order to persuade and reach an agreement between the vendor and potential buyer regarding the sales price of a property I would use the social proof technique.
In order to respond to client questions and concerns I would use turn objection into strength technique.
28. Executive three bedroom house available newly refurbished and fully furnished to a very high specification.
The property spans two floors and comes FULLY FURNISHED, comprising:
Large Open-plan living-kitchen area with all new appliances two piece leather sofa and large wall mounted smart TV.
Very large double bedroom with double bed, wardrobe, chest of drawers, bedside cabinet and smart TV on wall.
Entrance hallway with plenty of storage space under stairs.
Large garden to front and back professionally maintained with private seating area.
2X Large double bedrooms both with built in wardrobes, chest of drawers and bedside cabinets.
Modern Bathroom with full Aqua Paneling large bath with power shower and WC.
Entrance hallway with storage cupboard.
Gas Central Heating
New Energy Efficient Boiler
TV License included
Free easy parking
EPC Rating-C
Landlord Registration 458632/100/08501
No Pets and No Smoking in the House.
Available now from £ 435 per room or whole house for £1300 plus bills.
29. I would record the instruction of the client daily and will make a routine or plan on every week on a specified date will record the instruction on regular basis.
30. A written agency agreement is to be made to provide all kinds of services that are to be provided and it is also to be seen that the agreement are correct and should be fair in nature. The agreement that is being prepared it is to be seen that the agreement is signed and is to be served correctly.
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