Date post: | 20-Oct-2014 |
Category: |
Documents |
View: | 1,155 times |
Download: | 0 times |
RE/MAX Mumbai – Gujarat – Maharashtra
BEST PRACTICES IN REAL ESTATE BROKERAGE
MANAN CHOKSIREGIONAL DIRECTOR
RE/MAX MUMBAI GUJARAT MAHARASHTRA
How is the market ?
It depends whether you want to buy, sell, rent or invest? How do you wish I can help you?
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Problems faced by Real Estate Broker
• Client does not pay the decided brokerage • Client negotiates on the brokerage • Client claims that property has not been seen
through a broker • Brokers give incomplete information to each other• Clients is not given idea on the valuation of his listing • Client is not updated about his transaction
requirements
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Comprehensive Form
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Page 1 Page 2
Client File
Things to Include •Client Information Form •Property Activity Details •Move – in details and end of service agreement •Email Communications •List of documents needed for agreement •All agreements processed •Formal communication
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Presentation Packet
Things to Include Promotion Material • Your office profile • Your agent profile
Checklists• Documents required to do agreement • Documents to take care for buying from builder • Documents to take care for buying resale property RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
• One – page fliers • 10 steps to sell your home for more • 10 steps to buy your property for less • 10 steps to take care while renting property
Education based Marketing • Buyer Guide• Seller Guide
• Process of a real estate transaction• Your office process flow and documentation • Mandates and Forms
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Lead Management System
• New inquiries generated • First level meetings • Property Showings • Property feedback • Negotiation & Offers • Token done• TransactionsRE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Process of serving a buyer
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Get the details of the lead
Define deliverables and explain service
Property Requirement
Details
Understand Need, Wants, Concerns
and clear requirements
Search matching property on various
platforms
Post requirements
Prepare and send brochure of
matching properties
Coordinate Property Showings
Follow-up and close
Documentation and Legal
Paperwork
Registration and move-in processes
Invoice and customer feedback
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Contact
• Client Basic details
Deliverable
• Office services to a buyer over email/ individual meeting
PRF
• Understanding the client and documenting the requirements Searching
for options
• Find matching properties on MB,99acres, other portals• Also in newspaper, magazine and database of agents you are working with. Send out email,
SMS
Brochures
• Send out brochures of the matching properties to the clients
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Property
Showing
• Collect Feedback on the properties
Offers
• Send out buyer offer to the respective seller or the seller’s agen
Documentatio
n
• Send out documents to the legal team and prepare the documents. Ensure buyer interests are served
Registration
• Help in registering the property and facilitate move-in to the property. Get a client sign-off during the property possession and invoice the client for dues
Client
Feedback
• Collect Feedback of the service provided by the agent and office
Process of Serving a Seller
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Get the details of the lead
Define deliverables and explain service
Property Listing details and
exclusive mandate
Understand Need, Wants, Concerns
and clear requirements
Search matching buyers on various
platforms
Post and advertise listing
Prepare and send brochure of the
property
Coordinate Property Showings
Follow-up and close
Documentation and Legal
Paperwork
Registration and move-in processes
Invoice and customer feedback
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Contact
• Basic Details of the client
Deliverable
• Office services to a seller over email/individual meetings
PLF
• Understanding the client requirements and listing details • Pitching for exclusive mandate
Searching for buyers
• Find matching requirements on MB,99acres, other portals• Also in newspaper, magazine and database of agents you are working with. • Send out email, SMS
Brochures
• Send out brochures of the property to prospective buyers • Just listed postcards and property placard to market the property effectively
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Property
Showin
g
• Collect Feedback of the property and update seller
Offers
• Send out seller’s offer to the respective buyer or the buyer’s agent
Documentatio
n
• Send out documents to the legal team and prepare the documents. Ensure buyer interests are served
Registration
• Help in registering the property and facilitate move-in to the property. Get a client sign-off during the property possession and invoice the client for dues
Client
Feedback
• Collect Feedback of the service provided by the agent and office
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
EXCLUSIVE MANDATE
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
What is a Mandate??
Written authorization and/or command by a person, group, or organization (the 'mandator') to another (the 'mandatary') to take a certain course of action.
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
What is a Exclusive Mandate??
A situation where both the agent and his office are contractually bound to do their very best to market a customer’s property within the period of time laid out in the Exclusive Mandate.
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Advantages for the Broker
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Guaranteed Commission
No Wastage of Time
No Unnecessary Sharing of Commission
Advantages for the Seller
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
More Advertising for the Seller
Internet, classified ads, fliers, house tours, etc. Your agent will know that he can invest safely in your Property
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Gets More Agents To Work For the Seller
Your agent knows more agents than you do
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Higher Price for the Seller
Your agent will insist that you wait for higher offers, within reasonable time
limit
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Seller is Better Informed
Your agent will feel safe investing his time in your property
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Seller Gets Better Service
Explain clause for possible termination if the service provided is not what
was agreed
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
7 Steps To Exclusive Mandate
1) Call & Fix an appointment2) Meet & gain confidence through Personal
Promotion3) Discuss Services Provided 4) Marketing Plan5) Benchmarking Property Price6) Commission and Terms Negotiation 7) ClosingRE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Open House
• A day when a property is kept open for all the visitors to have a look and give an offer on the said property if they are interested in buying it
• Effective and efficient way to manage property viewings
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Long term v/s Short Term Mindset
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
“Plant for the future” “Hunt for today”
Time Management
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Database Management
Categorize your database
• Past clients • Vendors • Current clients • Prospective Clients (Leads) • Niche Farm • Geographic Farm • Friends • Family • Professionals • Real estate agents based on geography
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
Some last points
• Collaborate – don’t compete • Employees or Associates • Regulation and Licensing • Organized Broking is the future • Education and Market Knowledge
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
No Excuses
• Great Sales People do not give excuses, they accept 100% responsibility for their success or failure.• If they don’t achieve their Target, they don’t revise them, they simply revise their activities.
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com
THANK YOU
RE/MAX Mumbai Gujarat Maharashtra www.remax-mgm.com