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Real Estate Business: The Selling Process

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Real Estate Selling is not a get rich quick scheme

    It is a carefully planned career or business that will sustain the competent salesperson through the years of fortune. What is important is that he knows the process and that he understands every step of the way.
    Here are the steps:
1. Contacting the prospect.(or the prospect contacts you if you have done effective advertising). Answer inquiries with competence and gain your prospect's trust.
Through effective prospecting, assuming you have identified the prospect, ask for an appointment for presentation or tripping. If the Developer does not offer free tripping vehicle, it is advisable that the buyer should spend for the vehicle expenses. This is a signal that he is really interested, otherwise, always offering tripping vehicle for free would tempt the "not so hot" prospect to take a good look and tour around just by gathering information and rob you of your most precious time.
2. Visit the Developer prior to tripping.
Make sure you visit the Developer's office before the tripping schedule so that you will be updated of the latest development of the project including availability, latest pricing, discounts, etc. If you have brochure/pictures & quotation form, prepare them for your prospect.
3. Site Tripping.
Here you will show the house models if any and/or actual site of the location of the lot. You will also take the opportunity to make your presentation and handle objections. If a prospect presents a minor objection, handle it and focus on the project your offered. If he presents a major objection, such as location, price, etc. it may be advisable to present another project that really fits his needs and wants but do not make this presentation at the Developer's premises for doing so is unethical.
4. Invite the prospect to the Developer's Office.
If the prospect appears to be interested, invite him or her to the Developer's office for the reservation.  If he is not ready with the cash or check, schedule an appointment to accompany him to the Developer's office. After each tripping, ask him to sign the tripping form which will prove that you are his agent so that if the prospect buys with or without you, you will get the credit of the sale. This tripping form is good for 30 days which is allowed by some developers. However, there are developers who do not practice tripping forms but base their decisions on who can really accompany a buyer and make the reservation or down payment.
5. A visit at the Developer's office.
If the prospect agrees to visit the Developer's office, it would mean that he is ready to make a reservation. If he does, you made a sale. The Developer will ask the Prospect/buyer to sign a reservation agreement. Make sure you have a copy of this document which you need to submit to Land Asia Realty to officially enter a sale to your credit and that you may be able to claim instant incentive based on the available promotion from either the Developer of Land Asia Realty.
6. Follow up Requirements.
Make sure that the buyer complies with the requirements needed for the completion of deed of sale and for transfer of title to the name of the buyer.
See list of requirements.
7. Commission.
You will get your commission in full if the buyer has "paid up" the property. Paid up means full payment of the down payment or equity set by the Developer which is usually between 20 to 30% of the total package price. There are developers who are generous enough to give 25% of the commission if the buyer has paid 5%, then another 25% if the buyer has paid 10%, then another 25% if the buyer has paid an accummulated 15% and finally full commission upon 20% down payment (or 30% depending on the developer) Moreover, there are developers who give cash incentives on top of the commission, and some offer appliances and free travel tours.  




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