Practice: Chapter 8 • Preparing For The Listing Appointment

Front 1

the worst mistake a licensee can make is to be unprepared for a listing __.

Back 1

presentation

Front 2

Listing presentation:
• Obtain comparable sales __
• Create comparative market analysis (__)
• Create a marketing __
• Prepare a detailed listing presentation __

Back 2

data
CMA
plan
manual

Front 3

Drive by the __.

Back 3

comparables

Front 4

CMA: Usually three comparable properties or
“comps” that have been sold and __ escrow are compared to
the “subject property”.

Back 4

closed

Front 5

CMAs are only for residences and small apartment __.

Back 5

buildings

Front 6

The MLS active list helps give the seller
an idea of a possible sale price range and the number and __ of homes that are competing for a similar buyer.

Back 6

type

Front 7

Appraisers are told to use comps within
the past three months whenever possible because adjusting older data for
an increase or decrease in value because of current market conditions
can be highly __.

Back 7

subjective

Front 8

Although many licensees think that a buyer’s offered
price must be kept confidential until after the close of escrow,
such is not the case and __ has been.

Back 8

never

Front 9

Conduct a
reasonable investigation of expired listings you plan to include in
your __.

Back 9

CMA

Front 10

A careful review and discussion of recent asking price versus selling price trends with the selling
owners will reveal an appropriate price __ for the property.

Back 10

range

Front 11

CMA:
1st page - Prepared for...
2nd page - describe the property in narrative form, stating all of its best features.

Back 11

yeah

Front 12

Complimentary letters
or thank-you notes received from satisfied customers are probably the most powerful section in the __ manual. Most sellers
will stop everything to read these letters before proceeding.

Back 12

CMA

Front 13

Giving a range of value shows that no one person ever sets the
value of a property. Instead it is set by a willing buyer and a willing
seller through __.

Back 13

negotiation

Front 14

The seller's proceeds: If you
are conservative with your anticipated selling price and slightly liberal
with your costs of sale, the owner will usually end up netting
more money than you have __. This is desirable.

Back 14

estimated

Front 15

1. A CMA is best described in which
one of the following ways?
A. The comparative mortgage
analysis.
B. A formal appraisal.
C. A reflection of the realities of the
marketplace.
D. A comparison of asking prices to
selling prices.

Back 15

C. A reflection of the realities of the
marketplace.

Front 16

3. Which of the following is the least
accurate data on a CMA?
A. The most recent data, as it is too
new.
B. The oldest data.
C. Data that seem too high or too
low for the area.
D. Both b and c.

Back 16

D. Both b and c.