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Establish realistic expectations with monica

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Reference no: EM132969167

Part 1

You are working as an agent's representative with a suburban real estate agency. Monica owns an investment property which is currently managed by your agency.

The property is a unit in central Ringwood close to a major shopping centre, train station and access to Eastlink. It has two bedrooms, one bathroom, open plan living area with kitchen/meals area. Features include a gas heater, air conditioning, a small, easy to maintain courtyard and lock up garage.

Monica is aware that the current tenant has a lease that ends in two months' time. She is happy to provide the requisite notice and allow time for the house to sell at a suitable price.

Discuss the property with Monica (played by your friend) with a view to obtaining a new listing. In the process of doing so, you will need to:

  • establish realistic expectations with Monica and agree on an estimate sale price
  • provide information on market trends and any information relevant to the location
  • provide marketing options justifying the options which you present
  • agree on the sales method and advertising methods and costs
  • record any instructions that Monica has
  • outline the process that you will implement to act on the instructions of the client

Reference no: EM132969167

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