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
- Research sales activity for past 18 months through the Multiple Listing Service (MLS) and/or 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. 10. Research property’s ownership and deed type.
- Research property’s public record information for lot size and dimensions.
- Research and verify legal
- 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
- Present company’s profile and position or niche in the marketplace.
- Present CMA Results To Seller, including Comparables, Sales, Current Listings and Expired listings.
- Offer pricing strategy based on professional judgment and interpretation of current market
- Discuss goals with seller to market effectively.
- Explain market power and benefits of Multiple Listing Service.
- Explain market power of web marketing, internet Data Display and Realt or.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 and Addendum and obtain seller’s signature.
Once Listing Agreement is Signed
- Review current title information.
- Measure overall and heated/air conditioned 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 telephone
- 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 Repo rt.
- Natural gas: Research/verify availability and supplier’s name and telephone
- Verify security system, current term of service and whether owned or leased.
- Verify if seller has transferable Termite
- 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
- Explain benefits of Home Owner Warranty to
- Assist sellers with completion and submission of Home Owner Warranty
- 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. If so:
- Make copies of all leases for retention in listing file. 7?. Verify all rents and deposits.
- Inform tenants of listing and discuss how showings will be handled.
- Arrange for installation of yard sign(s).
- Assist seller with completion of Seller’s Disclosure
- Complete “New Listing “
- Review results of Curb Appeal Assessment with seller and provide suggestions to improve salability.
- Review results of Interior Decor Assessment and suggest changes to shorten time on
- Load listing into transaction management software program.
Entering Property in MLS
- Prepare MLS Profile Sheet – REALTOR® is responsible for quality control and accuracy of listing
- Enter property data from Profile Sheet into MLS Listing Database.
- Proofread MLS database listing for accuracy – including proper placement in mapping
- Add property to company’s Active Listings
- Provide seller with signed copies of Listing Agreement and MLS Profile Sheet Data Form within 48 hours.
- Luxury home staging for free! Take additional photos for upload into MLS and use in flyers.
- Create print and internet ads, with seller’s
- Coordinate and attend all showings with owners, tenants, and other REALTORS®. Return all calls – weekends included.
- Install electronic lockbox if authorized by owner and program with agreed-upon showing time windows.
- Prepare mailing and contact
- Generate mail-merge letters to contact
- Order “Just Listed” labels and reports.
- Prepare flyers and feedback
- Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability.
- Prepare property marketing brochure for seller’s
- Arrange for printing or copying of supply of marketing brochures or
- 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 105. Feedback e-mails sent to buyers’ agents after showings.
- Review weekly Market Study.
- Review lockbox reports to study home showing
- Lockbox showing reports and feedback from showing agents with seller to determine if changes will accelerate the
- Place regular weekly update calls to seller to discuss marketing and pricing.
- Promptly enter price changes in MLS listing database.
Offer and Contract
- Receive and review all Offers to Purchase contracts submitted by buyers or buyers’
- 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
- Contact buyers’ agents to review buyer’s qualifications and discuss
- 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. 117. 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 counter offers, acceptance or amendments to buyer’s
- Provide 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
- 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.
- Deliver copies of Offer to Purchase contract to Selling
- Deliver copies of Offer to Purchase contract to
- 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 MLS and transaction management program to 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 and buyer.
- Deliver termite inspection report copies to lender, buyer and property inspector.
- Verify mold inspection ordered, if required.
- Verify radon inspection ordered .
Tracking the Loan Process
- Confirm verifications of deposit and buyer’s employment have been
- Follow loan processing through to the underwriter.
- Add lender and other vendors to transaction 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
Home Inspection
- Coordinate buyer’s professional home inspection with
- 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
- 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.
Appraisal
- Schedule
- Provide comparable sales used in market pricing to
- Follow up on
- Enter completion into transaction management
- Assist seller in questioning appraisal report, if questions arise.
Closing Preparations and Duties
- Contract is signed by all
- Coordinate closing process with buyer’s agent and
- Update closing forms and 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
- Work with buyer’s agent in scheduling and conducting buyer’s final walk-through prior to
- Research all tax, Home Owner Association, utility and other applicable prorations.
- Request final closing figures from closing agent (attorney or title company).
- Receive and carefully review closing figures to ensure accuracy of preparation .
- Forward verified closing figures to buyer’s
- Request copy of closing documents from closing
- Confirm buyer and buyer’s agent have received title insurance commitment.
- Provide Home Owners Warranty for availability at closing.
- Review 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
- 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 a Realtor 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 transaction management
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
- Respond to any follow-on calls and provide any additional information required from office file