Entry by Betty Byrnes

Seller Needs Analysis


I'm working on editing the Seller Needs Analysis and need some clarification on one item:

-Supply initial draft of Purchase and Sale

I don't know what is meant by this.



Hi Betty:

In Massachusetts, we have a two step process – an offer is made with financing and inspection contingencies and then once they are met, two weeks later a final Purchase and Sales is generated and signed.

One of the problems that we have run into in putting together a national course is that practices so differ from state to state. This is why I stress that any materials that are provided should be used just as an example. The point of the Seller Needs Analysis is to have everything that you would do on a listing in your market. The same with the sample packages I have in the workbook – these are for example only as they not only vary in what we do but what we may WANT to do.


Mollie -

A question came to mind as I was working on the Needs Analysis:

In Indiana, there are minimum "required" duties. (MLS entry only is prohibited by agency law.) The law states that if a property is entered in the MLS, then the agent/broker must:
• Present all contracts and related documents
• Assist with negotiations
• Respond to questions from client about transaction in timely manner
• Attend closing

Do you think it should (or should not) be addressed in the Seller Needs Analysis? I was thinking of not addressing it in the Needs Analysis; only addressing it at the initial consultation, in the context of my 'bundle' of services and if needed, the state's minimum services requirement. (State law aside, I got involved in one too many "MLS only" deal when I started in the business in California and it was terrible!)



This page contains a single entry by Betty Byrnes published on December 16, 2006 6:07 PM.

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