Marketing, Listing, and Working with Buyers
Core Concepts
Candidates must understand the listing process, including the listing agreement (exclusive right to sell, exclusive agency, open listing), marketing strategies, and advertising rules. You should know the requirements for advertising (truthfulness, identification of brokerage, no misleading claims). Also, understand the buyer counseling process, including needs analysis, showing properties, and writing offers. Know the rules around disclosure of material facts and the handling of multiple offers.
Traps in Questions
A common trap is the treatment of offers in multiple offer situations. In Nova Scotia, there is no mandatory disclosure of competing offers, but you must follow the seller's instructions and treat all buyers fairly. Another trap is the advertising of a property without the seller's consent or after the listing expires. Also, questions may test the requirement to disclose the brokerage name in all advertising.
Worked Example / Rule of Thumb
Rule: When advertising a property, always include the brokerage name and ensure the information is accurate. For example, if you advertise a property as having a "new roof," you must have verified that information with the seller. If you cannot verify, do not include it.
Additional Concepts
Understand the importance of a marketing plan and the use of social media. Know the rules for holding open houses and the security of the property. Also, be familiar with the buyer's rights to privacy and the obligation to keep personal information confidential.