If you have been considering getting your real estate license and beginning a career in real estate, you will need to understand the process of listing and selling a home. Getting clients to list their homes with you and selling those homes is the bread and butter of a real estate agent. If you can master this art then the sky is the limit to the income potential of your real estate career.
Getting a client to list their home with you requires a great deal of knowledge about the area you are taking the listing in, and on recent sales of properties listed in and around that area. Before your scheduled listing appointment do your due diligence on the property. Find comparable properties that have sold and some that have been on the market for a while. Know the neighborhood that the house is in. Research will be instrumental in securing the listing agreement.
By the time you have your listing appointment, you should know as much or more about the property and the area around it than even the current homeowners do. Confidence in your knowledge of the market is what a potential seller wants to see in the agent they list their home with. Sellers will need to feel that you cannot wait to sell their home. When they feel like you are committed to the sale of their home is when they will commit to you by signing the listing agreement.
Once you have secured the listing the work to market the property begins. Knowing what does and does not excite a buyer when they walk through a home is something that clients need the services of a real estate agent for. Make certain that the home shows in the best possible light for those potential buyers that walk through. Signage, advertisements and other marketing materials to ensure that the home is seen by the most possible people will need to be created and distributed.
Scheduling open houses to get potential buyers into the home is an important part of the selling process. Having what is called a broker’s open is a great way to make other real estate agents in the area aware that the property is available. They will be able to have a feel for the home in case they have any buyers that may be right for it. Then there is the open house which will invite not just real estate agents and brokers, but potential home buyers to walk through the property. Open houses and showings are crucial to selling a property. The buyer will need to be able to visualize themselves in the home before they will make an offer on the property.
Now that you have the listing and the house has been seen by as many people as possible you are nearing the end of the process. If the property has been priced properly and staged well for the open house and showings, the final step of the process will be accepting an offer. Potential buyers will make an official offer in writing for approval by your seller. Your seller has the option of turning down unacceptable offers or making counter-offers to a potential buyer. Once an offer that meets their approval comes in, your seller accepts the offer and you are ready for scheduling the closing of escrow and receiving your commission check.
Experience only makes the process easier each time since the research has already been done. With each listing you’ll learn even more about the neighborhoods and properties, making you a master at the art of listing and selling a home.
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