Gaining An Extended Authority Period

Purpose

In this procedure, the Sales Consultant negotiates an extension of the agency agreement with the Seller.  This procedure starts at the end of the agency agreement if the property has not sold.  It ends when the Seller sings a new agency agreement.

A property may not have sold by the end of the agency agreement.  If the Seller is still motivated, this may just take a little more time.  The Sales Consultant may negotiate with the Seller to extend the agency agreement.  If the Seller agrees to extend the agreement, the Sales Consultant must review all aspects of the marketing plan and also the price of the property. 

Procedure

Managing Agent

• Reassesses the motivation of the Seller.  If the Seller is motivated:
• Reviews the needs analysis
• Reviews the price
• Reviews the marketing plan
• Invites the seller to sign a new agency agreement
• Changes to sales listing details