While learning about the different parts of a listing presentation, you are startingto see the complexity of being a good agent. In one paragraph tell what challenges might you have with the listing details, presentation and contracts?

A listing contract is an agency contract to sell or locate property.

BOOK ART

A valid listing must be in writing and must meet the four requirements of any contract:

1. Competent parties
2. Lawful object
3. Proper offer and acceptance (mutual consent)
4. Consideration

There are six basic types of listings:

1. Open listing (nonexclusive)
2. Exclusive-authorization-and-right-to-sell listing
3. Exclusive-agency listing
4. Net listing
5. Option listing
6. Exclusive-right-to-represent listing

The real estate agent must understand every paragraph used in both the sale and buyer-listing forms to answer owners' and buyers' questions and properly meet owners' and buyers' needs.

The agent must prepare for the listing transaction. The first step is to obtain information about the property; the second step is to prepare the comparative market analysis; the third step is to drive by comparables to make certain that your comparables are truly comparable and that you have a good sense of value.

The listing presentation normally starts with going through the comparative market analysis. The seller should understand the validity of your information before you proceed further.

If the owners are not ready to list their property, go through your listing presentation material, using a narrative with your visuals. This material should answer two owners' questions, why list? and why you? This should lead you to a trial closing that is intended to gain an agreement to sign the listing. After a listing is signed, be certain to leave a copy along with copies of the Estimated Seller's Proceeds form and your comparative market analysis and agency disclosure information if not included in the listing form. Be certain the owners know when you will contact them again.

To obtain a buyer's agency agreement you must prove your competency to locate property and the buyers must feel you fully understand their needs and are willing to work for them.

If a home is encumbered with a trust deed greater than the fair market value of the property, a listing is still possible if the lender will agree to a short sale. In a short sale the lender accepts the net sale proceeds as full settlement for their lien.