Book : California Real Estate Practice [Third Edition] By Robert L. Herd and Bruce A. Southstone
Chapter 10 : The Listing Presentation
Class Discussion Topics
1. Be prepared to explain the difference between a Broker Representation Agreement listing and an exclusive agency listing.
2. Prepare the “About Me” and “About My Company” sections of your listing presentation manual and be prepared to present them
to another student in class.
3. Prepare a CMA for the property that you currently live in or for one of your office listings, if you are an active licensee. Present the
analysis to two other students who will act as the owners.
4. Prepare an ESP form for a home, using the following:
$400,000 sale price; $237,000 loan with a 6.5 percent interest rate; HOA monthly dues of $120, with the current month not paid; real estate taxes of $3,600 per year, with the first installment paid; a 6 percent brokerage fee paid by the sellers; and a December first closing date. Use normal title and escrow fees for your area.
5. Acting as the licensee, handle the following objection: “We want a discount on the commission.”
Chapter 10 Quiz
1. The exclusive authorization and right to sell listing is a(n)
a. unilateral agreement.
b. exclusive contract to find property for a buyer.
c. service contract between an owner and a broker.
d. buyer/broker contract.
2. When a listing agreement is signed
a. a non-agency relationship is formed.
b. a broker/customer relationship is formed.
c. the broker agrees to hold all offers confidential until close of escrow.
d. the broker agrees to use diligence in procuring a purchaser for the property.
3. An open listing
a. may be verbal.
b. is enforceable if it is verbal.
c. may be given to only three brokers simultaneously.
d. is often used by contractors or builders.
4. A CMA is best described as a(n)
a. comparative mortgage analysis that compares loans for a buyer.
b. formal appraisal.
c. full accounting of all current listings in a particular city.
d. estimate of value that reflects the realities of the current marketplace.
5. A seller that needs to sell very quickly should
a. list somewhat above the value indicated in the CMA.
b. list at the value indicated in the CMA.
c. list somewhat below the value indicated in the CMA.
d. have the property shown by appointment only.
6. Seller’s proceeds best describes the
a. seller’s net profit.
b. net sale price.
c. gross sale price.
d. money received from the escrow or title company at escrow closing.
7. Your listing presentation manual should
a. contain a Transfer Disclosure Statement.
b. recommend a specific selling price.
c. contain only your CMA and your marketing plan.
d. be organized to follow your verbal presentation.
8. If you are with a small office, which of the following statements shows the advantages of listing with your firm?
a. All we need is one buyer, and even we can do that.
b. We can use the business.
c. The competition is fierce, so we try harder than the big guys.
d. We specialize in a small number of select properties in your area.
9. If an owner says that she doesn’t want to list until she has found her new home, you should
a. take a post-dated listing.
b. postpone listing her home and start showing her property.
c. explain that an offer that is contingent on the sale of her current home is definitely in her best interest.
d. list her home contingent on the sale of her home.
10. Need-based pricing is when
a. an owner tells you that she has to get a certain price because she has other financial obligations.
b. her family needs her to relocate to take care of her aging parents.
c. an owner prices her property to the needs of the buyers.
d. an owner is selling her home to a shelter for the needy.