Tasks your agent does for
and with you
Pre-Listing Activities
- Make appointment with seller for listing presentation
- Send seller a written or e-mail confirmation of listing appointment and call to confirm
- Review pre-appointment questions
- Research all comparable currently listed properties
- Research sales activity for past 18 months from MLS and public records databases
- Research “Average Days on Market” for this property of this type, price range and location
- Download and review property tax roll information
- Prepare “Comparable Market Analysis” (CMA) to establish fair market value
- Obtain copy of subdivision plat/complex lay-out
- Research property’s ownership & deed type
- Research property’s public record information for lot size & dimensions
- Research and verify legal description
- Research property’s land use coding and deed restrictions
- Research property’s current use and zoning
- Verify legal names of owner(s) in county’s public property records
- Prepare listing presentation package with above materials
- Perform exterior “Curb Appeal Assessment” of subject property
- Compile and assemble formal file on property
- Confirm current public schools and explain impact of schools on market value
- Review listing appointment checklist to ensure all steps and actions have been completed
Listing Appointment Presentation
- Give seller an overview of current market conditions and projections
- Review agent’s and company’s credentials and accomplishments in the market
- Present company’s profile and position or “niche” in the marketplace
- Present CMA Results To Seller, including Comparables, Solds, Current Listings & Expireds
- Offer pricing strategy based on professional judgment and interpretation of current market conditions
- Discuss Goals With Seller To Market Effectively
- Explain market power and benefits of Multiple Listing Service
- Explain market power of web marketing, IDX and REALTOR.com
- Explain the work the brokerage and agent do “behind the scenes” and agent’s availability on weekends
- Explain agent’s role in taking calls to screen for qualified buyers and protect seller from curiosity seekers
- Present and discuss strategic master marketing plan
- Explain different agency relationships and determine seller’s preference
- Review and explain all clauses in Listing Contract & Addendum and obtain seller’s signature Once Property is Under Listing Agreement
- Review current title information
- Measure overall and heated square footage
- Measure interior room sizes
- Confirm lot size via owner’s copy of certified survey, if available
- Note any and all unrecorded property lines, agreements, easements
- Obtain house plans, if applicable and available
- Review house plans and make copy
- Order plat map for retention in property’s listing file
- Prepare showing instructions for buyers’ agents and agree on showing time window with seller
- Obtain current mortgage loan(s) information: companies and & loan account numbers
- Verify current loan information with lender(s)
- Check assumability of loan(s) and any special requirements
- Discuss possible buyer financing alternatives and options with seller
- Review current appraisal if available
- Identify Home Owner Association manager if applicable
- Verify Home Owner Association Fees with manager – mandatory or optional and current annual fee
- Order copy of Homeowner Association bylaws, if applicable
- Research electricity availability and supplier’s name and phone number
- Calculate average utility usage from last 12 months of bills
- Research and verify city sewer/septic tank system
- Water System: Calculate average water fees or rates from last 12 months of bills )
- Well Water: Confirm well status, depth and output from Well Report
- Natural Gas: Research/verify availability and supplier’s name and phone number
- Verify security system, current term of service and whether owned or leased
- Verify if seller has transferable Termite Bond
- Ascertain need for lead-based paint disclosure
- Prepare detailed list of property amenities and assess market impact
- Prepare detailed list of property’s “Inclusions & Conveyances with Sale”
- Compile list of completed repairs and maintenance items
- Send “Vacancy Checklist” to seller if property is vacant
- Explain benefits of Home Owner Warranty to seller
- Assist sellers with completion and submission of Home Owner Warranty Application
- When received, place Home Owner Warranty in property file for conveyance at time of sale
- Have extra key made for lockbox
- Verify if property has rental units involved. And if so:
- * Make copies of all leases for retention in listing file
- * Verify all rents & deposits
- * Inform tenants of listing and discuss how showings will be handled
Arrange for installation of yard sign
- Assist seller with completion of Seller’s Disclosure form
- “New Listing Checklist” Completed
- Review results of Curb Appeal Assessment with seller and provide suggestions to improve salability
- Review results of Interior Décor Assessment and suggest changes to shorten time on market
- Load listing into transaction management software program
Entering Property in Multiple Listing Service Database
- Prepare MLS Profile Sheet — Agents is responsible for “quality control” and accuracy of listing data
- Enter property data from Profile Sheet into MLS Listing Database
- Proofread MLS database listing for accuracy – including proper placement in mapping function
- Add property to company’s Active Listings list
- Provide seller with signed copies of Listing Agreement and MLS Profile Sheet Data Form within 48 hours
- Take additional photos for upload into MLS and use in flyers. Discuss efficacy of panoramic photography Marketing The Listing
- Create print and Internet ads with seller’s input
- Coordinate showings with owners, tenants, and other Realtors®. Return all calls – weekends included
- Install electronic lock box if authorized by owner. Program with agreed-upon showing time windows
- Prepare mailing and contact list
- Generate mail-merge letters to contact list
- Order “Just Listed” labels & reports
- Prepare flyers & feedback faxes
- Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability
- Prepare property marketing brochure for seller’s review
- Arrange for printing or copying of supply of marketing brochures or fliers
- Place marketing brochures in all company agent mail boxes
- Upload listing to company and agent Internet site, if applicable
- Mail Out “Just Listed” notice to all neighborhood residents
- Advise Network Referral Program of listing
- Provide marketing data to buyers coming through international relocation networks
- Provide marketing data to buyers coming from referral network
- Provide “Special Feature” cards for marketing, if applicable
- Submit ads to company’s participating Internet real estate sites
- Price changes conveyed promptly to all Internet groups
- Reprint/supply brochures promptly as needed
- Loan information reviewed and updated in MLS as required
- Feedback e-mails/faxes sent to buyers’ agents after showings
- Review weekly Market Study
- Discuss feedback from showing agents with seller to determine if changes will accelerate the sale
- Place regular weekly update calls to seller to discuss marketing & pricing
- Promptly enter price changes in MLS listing database
- The Offer and Contract
- Receive and review all Offer to Purchase contracts submitted by buyers or buyers’ agents.
- Evaluate offer(s) and prepare a “net sheet” on each for the owner for comparison purposes
- Counsel seller on offers. Explain merits and weakness of each component of each offer
- Contact buyers’ agents to review buyer’s qualifications and discuss offer
- Fax/deliver Seller’s Disclosure to buyer’s agent or buyer upon request and prior to offer if possible
- Confirm buyer is pre-qualified by calling Loan Officer
- Obtain pre-qualification letter on buyer from Loan Officer
- Negotiate all offers on seller’s behalf, setting time limit for loan approval and closing date
- Prepare and convey any counteroffers, acceptance or amendments to buyer’s agent
- Fax copies of contract and all addendums to closing attorney or title company
- When Offer to Purchase Contract is accepted and signed by seller, deliver to buyer’s agent
- Record and promptly deposit buyer’s earnest money in escrow account.
- Disseminate “Under-Contract Showing Restrictions” as seller requests
- Deliver copies of fully signed Offer to Purchase contract to seller
- Fax/deliver copies of Offer to Purchase contract to Selling Agent
- Digitally deliver copies of Offer to Purchase contract to Selling Agent
- Fax copies of Offer to Purchase contract to lender
- Digitally deliver copies of Offer to Purchase contract to lender
- Provide copies of signed Offer to Purchase contract for office file
- Advise seller in handling additional offers to purchase submitted between contract and closing
- Change status in MLS to “Sale Pending”
- Update transaction management program show “Sale Pending”
- Review buyer’s credit report results — Advise seller of worst and best case scenarios
- Provide credit report information to seller if property will be seller-financed
- Assist buyer with obtaining financing, if applicable and follow-up as necessary
- Coordinate with lender on Discount Points being locked in with dates
- Deliver unrecorded property information to buyer
- Order septic system inspection, if applicable
- Receive and review septic system report and assess any possible impact on sale
- Deliver copy of septic system inspection report lender & buyer
- Deliver Well Flow Test Report copies to lender & buyer and property listing file
- Verify termite inspection ordered
- Verify mold inspection ordered, if required
- Tracking the Loan Process
- Confirm Verifications Of Deposit & Buyer’s Employment Have Been Returned
- Follow Loan Processing Through To The Underwriter
- Add lender and other vendors to your management program so agents, buyer and seller can track progress of sale
- Contact lender weekly to ensure processing is on track
- Relay final approval of buyer’s loan application to seller
- Home Inspection
- Coordinate buyer’s professional home inspection with seller
- Review home inspector’s report
- Enter completion into transaction management tracking software program
- Explain seller’s responsibilities with respect to loan limits and interpret any clauses in the contract
- Ensure seller’s compliance with Home Inspection Clause requirements
- Recommend or assist seller with identifying and negotiating with trustworthy contractors to perform any required repairs
- Negotiate payment and oversee completion of all required repairs on seller’s behalf, if needed
- The Appraisal
- Schedule Appraisal
- Provide comparable sales used in market pricing to Appraiser
- Follow-Up On Appraisal
- Enter completion into transaction management program
- Assist seller in questioning appraisal report if it seems too low
- Closing Preparations and Duties
- Contract Is Signed By All Parties
- Coordinate closing process with buyer’s agent and lender
- Update closing forms & files
- Ensure all parties have all forms and information needed to close the sale
- Select location where closing will be held
- Confirm closing date and time and notify all parties
- Assist in solving any title problems (boundary disputes, easements, etc) or in obtaining Death Certificates
- Work with buyer’s agent in scheduling and conducting buyer’s Final Walk-Thru prior to closing
- Research all tax, HOA, utility and other applicable prorations
- Request final closing figures from closing agent (attorney or title company)
- Receive & carefully review closing figures to ensure accuracy of preparation
- Forward verified closing figures to buyer’s agent
- Request copy of closing documents from closing agent
- Confirm buyer and buyer’s agent have received title insurance commitment
- Provide “Home Owners Warranty” for availability at closing
- Reviews all closing documents carefully for errors
- Forward closing documents to absentee seller as requested
- Review documents with closing agent (attorney)
- Provide earnest money deposit check from escrow account to closing agent
- Coordinate this closing with seller’s next purchase and resolve any timing problems
- Have a “no surprises” closing so that seller receives a net proceeds check at closing
- Refer sellers to one of the best agents at their destination, if applicable
- Change MLS status to Sold. Enter sale date, price, selling broker and agent’s ID numbers, etc.
- Close out listing in your management program
- Follow Up After Closing
- Answer questions about filing claims with Home Owner Warranty company if requested
- Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied
- Respond to any follow-on calls and provide any additional information required from office files.
- Whew! That’s a long list!