For a residential listing presentation, the appointment is often scheduled for 2 hours allowing for an additional 30-60 minutes if necessary. During this listing presentation conversation, the licensed professional real agent learns the expectations of the sellers also known as motivational/value drivers.
Also, during this interaction, the agent will answer questions and possibly ask questions for additional clarity especially what is the seller or sellers bottom line? Here the goal is to continue to build trust for a favorable outcome that being a signed listing presentation. Sometimes sellers will interview several real estate agents and then call back the successful listing agent.
The time for vacant land listings presentations can be somewhat less depending upon the situation. For me, I often receive out of area calls and then I must travel to the vacant land property before having the actual presentation which is a phone call as I am unsure if I wish to list a land due to some potential issues. I must know road access given here in Mohave County, roads are plotted in by the County, but never "cut-in." What happens is GPS says the road exists, but it does not or is often what I call a "Cow Trail." Additionally I will undertake any required research specific to flood plains, easements, etc.
The residential listing agent will tour both the inside and outside of the home. He or she will note any obvious concerns such as peeling paint, cracks in the foundation, along with the overall condition of the property.
This additional clarity may include answers to these questions:
- Who actually owns the property?
- If the property is inherited, do the beneficiaries have all required legal documents?
- For inherited property, has probate been exercised?
- The type of preferred financing?
- What type of marketing will the listing agent employ?
- Appraisals respective to the appraisal valuation report?
- Any issues the sellers have concerns about regarding the listing process or offer process?
- Appliances that may be left?
- Time frame for the sale?
- What personal items are included in the sale?
- What is the desired time length of escrow?
- Will the home be occupied?
- Will the listing agent be expected to be at all showings of the home?
Finally, hopefully, compensation will be discussed last and negotiated to the mutual satisfaction of both parties.
TIME INVESTED: 2 hours and travel time is not included. Please note this is a conservative estimate given each property is unique as are all sellers.
Add the 2 hours to the existing 4 hours, the uncompensated time is now $600.00. Again travel time is not included in this dollar figure.
Part 11 details the hours involved when the listing agent secures the listing.
If you missed part 9 of She Works Hard for the Monehy that reviews the time to construct the residential listing presentation, you can find it here.
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