WHAT AGENTS DO WHEN SELLING YOUR HOME

Dated: 01/22/2018

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There is a reason 90% of Home Sellers use a Real Estate agent to help them sell their homes.  There is a lot involved in a Successful Home Sale.  Statistics show that the 10% of the "For Sale By Owners’  save the 5% to 7% in real estate commission, end up selling their home for less money without an agent.  Good agents want Referrals thus making sure the end result are Happy customers.  Good agents will work hard to earn and keep your business.  Here are some the duties that a Professional Full Time agent will do to sell your home.  Put the job to sell your biggest asset to a Professional agent.  You wouldn't operate on yourself if you had to remove your tonsils, or a wisdom tooth, then you should consider leaving the sale of your Home to a Real Estate Pro.

Pre-Listing Activities

1 Make appointment with seller for listing presentation

2 Send seller a written or e-mail confirmation of listing appointment and call to confirm

3 Review pre-appointment questions

4 Research all comparable currently listed properties

5 Research sales activity for past 6 months to a year from MLS and public records databases

6 Research "Average Days on Market" for this property of this type, price range and location

7 Download and review property tax roll information

8 Prepare "Comparable Market Analysis" (CMA) to establish fair market value

9 Obtain copy of subdivision plat/complex lay-out

10 Research property's ownership & deed type

11 Research property's public record information for lot size & dimensions

12 Research and verify legal description

13 Research property's land use coding and deed restrictions

14 Research property's current use and zoning

15 Verify legal names of owner(s) in county's public property records

16 Prepare listing presentation package with above materials

17 Perform exterior "Curb Appeal Assessment" of subject property

18 Compile and assemble formal file on property

19 Confirm current public schools and explain impact of schools on market value

20 Review listing appointment check list to ensure all steps and actions have been completed

Listing Appointment Presentation

21 Give seller an overview of current market conditions and projections

22 Review agent's and company's credentials and accomplishments in the market

23 Present company's profile and position or "niche" in the marketplace

24 Present CMA Results To Seller, including Comparables, Solds, Current Listings & Expireds

25 Offer pricing strategy based on professional judgment and interpretation of current market conditions

26 Discuss Goals With Seller To Market Effectively

27 Explain market power and benefits of Multiple Listing Service

28 Explain market power of web marketing, IDX and REALTOR.com

29.Explain the market power of social media, videos, professional photos to enhance marketing efforts

30 Explain the work the brokerage and agent do "behind the scenes" and agent's availability on weekdays and weekends

31 Explain agent's role in taking calls to screen for qualified buyers and protect seller from curiosity seekers

32 Present and discuss strategic master marketing plan

33 Explain different agency relationships and determine seller's preference

34 Review and explain all clauses in Listing Contract & Addendum and obtain seller's signature

Once Property is Under Listing Agreement

35 Review current title information

36 Measure overall and heated square footage

37 Measure interior room sizes

38 Confirm lot size via owner's copy of certified survey, if available

39 Note any and all unrecorded property lines, agreements, easements

40 Obtain house plans, if applicable and available

41 Review house plans and make copy

42 Order plat map for retention in property's listing file, if necessary

43 Prepare showing instructions for buyers' agents and agree on showing time window with seller

44 Obtain current mortgage loan(s) information: companies and & loan account numbers

45 Verify current loan information with lender(s)

46 Check assumability of loan(s) and any special requirements, if applicable

47 Discuss possible buyer financing alternatives and options with seller

48 Review current appraisal if available

49 Identify Home Owner Association manager if applicable

50 Verify Home Owner Association Fees with manager - mandatory or optional and current annual fee

51 Order copy of Homeowner Association bylaws, if applicable

52 Research electricity availability and supplier's name and phone number, if necessary.

53 Calculate average utility usage from last 12 months of bills

53 Research and verify city sewer/septic tank system

54 Water System: Calculate average water fees or rates from last 12 months of bills )

55 Well Water: Confirm well status, depth and output from Well Report

56 Natural Gas: Research/verify availability and supplier's name and phone number

57 Verify security system, current term of service and whether owned or leased

58 Verify solar panel system, current term of service and whether owned or leased

59 Ascertain need for lead-based paint disclosure

60 Prepare detailed list of property amenities and assess market impact

61 Prepare detailed list of property's "Inclusions & Conveyances with Sale"

62 Compile list of completed repairs and maintenance items

63 Pick up Seller Disclosure upon completion

64 Send "Vacancy Checklist" to seller if property is vacant

65 Explain benefits of Home Owner Warranty to seller

66 Assist sellers with completion and submission of Home Owner Warranty Application, if seller wants to purchase

67 When received, place Home Owner Warranty in property file for conveyance at time of sale

68 Have extra key made for lockbox

69 Verify if property has rental units involved. And if so:

70  Make copies of all leases for retention in listing file

71      Verify all rents & deposits

72      Inform tenants of listing and discuss how showings will be handled

73     Have tenant contact information, utility information and necessary property codes on file  

74  Arrange for installation of yard sign

75 "New Listing Checklist" Completed

76 Review results of Curb Appeal Assessment with seller and provide suggestions to improve salability

77 Review results of Interior Décor Assessment and suggest changes to shorten time on market

78 Load listing into transaction management software program

79 Take temporary photos of home if possible, if professional hasn’t been scheduled prior.

80 Arrange for a professional photographer and/or videographer for marketing photographs.

81 Arrange an Open House with Home Owner if owner allows or applicable

Entering Property in Multiple Listing Service Database

82 Prepare MLS Profile Sheet -- Agents is responsible for "quality control" and accuracy of listing data

83 Enter property data from Profile Sheet into MLS Listing Database

84 Proofread MLS database listing for accuracy - including proper placement in mapping function

85 Add property to company's Active Listings list, etc.

86 Provide seller with signed copies of Listing Agreement and MLS Profile Sheet Data Form within 48 hours

87 Take additional photos, if not already done for upload into MLS and use in flyers.

Marketing The Listing

88 Create print and Internet ads with seller's input

89 Coordinate showings with owners, tenants, and other Realtors®. Return all calls - weekends included

90 Install electronic lock box or combo lockbox, if authorized by owner.

91 Prepare mailing and contact list

92 Begin Social Media Marketing on property listing

93 Email you leads, past and present that could be a fit for the property

94 Generate mail-merge letters to contact list

95 Order “Just Listed” labels & reports

96 Prepare flyers & feedback faxes

97 Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability

98 Prepare property marketing brochure for seller's review

99 Arrange for printing or copying of supply of marketing brochures or fliers

100 Place marketing brochures in all company agent email boxes

101 Upload listing to company and agent Internet site, if applicable

102 Mail Out "Just Listed" notice to all neighborhood residents

103 Advise Network Referral Program of listing

104 Provide marketing data to buyers coming through international relocation networks

105 Provide marketing data to buyers coming from referral network

106 Provide "Special Feature" cards for marketing, if applicable

107 Submit ads to company's participating Internet real estate sites

108 Price changes conveyed promptly to all Internet groups

109 Reprint/supply brochures promptly as needed

110 Loan information reviewed and updated in MLS as required

111 Feedback e-mails/faxes sent to buyers' agents after showings

112 Review weekly Market Study

113 Conduct 1 or 2 Broker Open Houses for area agents on the scheduled House Tour day

114 Discuss feedback from showing agents with seller to determine if changes will accelerate the sale

115 Place regular weekly update calls to seller to discuss marketing & pricing

116 Promptly enter price changes in MLS listing database

The Offer and Contract

117 Receive and review all Offer to Purchase contracts submitted by buyers or buyers' agents.

118 Evaluate offer(s) and prepare a "net sheet" on each for the owner for comparison purposes

119 Counsel seller on offers. Explain merits and weakness of each component of each offer

120 Contact buyers' agents to review buyer's qualifications and discuss offer

121 Email/Fax/deliver Seller's Disclosure to buyer's agent or buyer upon request and prior to offer if possible

122 Confirm buyer is pre-qualified by calling Loan Officer

123 Obtain pre-qualification letter on buyer from Loan Officer

124 Negotiate all offers on seller's behalf, setting time limit for loan approval and closing date

125 Prepare and convey any counteroffers, acceptance or amendments to buyer's agent

126 Email and/or Fax copies of contract and all addendums to closing attorney or title company

127 When Offer to Purchase Contract is accepted and signed by seller, deliver to buyer's agent

128 Record and take copies of earnest money in escrow account.

129 Disseminate "Under-Contract Showing Restrictions" as seller requests

130 Deliver copies of fully signed Offer to Purchase contract to seller

131 Email and/or Fax/deliver copies of Offer to Purchase contract to Selling Agent

132 Email and/or Fax copies of Offer to Purchase contract to lender

133 Provide copies of signed Offer to Purchase contract for office file

134 Advise seller in handling additional offers to purchase submitted between contract and closing

135 Change status in MLS to "Sale Pending"

136 Update transaction management program to show "Sale Pending"

137 Review buyer's credit report results -- Advise seller of worst and best case scenarios

138 Provide credit report information to seller if property will be seller-financed

139 Assist buyer with obtaining financing, if applicable and follow-up as necessary

140 Coordinate with lender on locked in with dates for buyer

141 Deliver unrecorded property information to buyer, if applicable

142 Order septic system inspection, if applicable

143 Receive and review septic system report and assess any possible impact on sale

144 Deliver copy of septic system inspection report lender & buyer

145 Deliver Well Flow Test Report copies to lender & buyer and property listing file

146 Verify termite inspection ordered

147 Verify mold inspection ordered, if required

Tracking the Loan Process

148 Confirm Verifications Of Deposits & status of any outstanding docs due to lender

149 Follow Loan Processing Through To The Underwriter

150 Add lender and other vendors to transaction management program so agents, buyer and seller can track progress of sale

151 Contact lender weekly to ensure processing is on track

152 Relay final approval of buyer's loan application to seller

Home Inspection

153 Coordinate buyer's professional home inspection with seller, if possible right after attorney review is over

154 Review home inspector's report

155 Make sure attorney gets copy of inspection report and buyer discusses concerns if any

155 Enter completion into transaction management tracking software program

156 Explain seller's responsibilities with regard to contract but advise to discuss home inspections issues with attorney

157 Ensure seller's compliance with Home Inspection Clause requirements

158 Recommend or assist seller with identifying and negotiating with trustworthy contractors to perform any required repairs, if necessary

159 Oversee completion of all required repairs on seller's behalf, if needed

The Appraisal

160 Schedule Appraiser for access to property for evaluation.

161 Provide comparable sales used in market pricing to Appraiser

162 Follow-Up On Appraisal

163 Enter completion into transaction management program

164 Assist seller in questioning appraisal report if it seems too low

Closing Preparations and Duties

165 Make sure the CO and/or smoke inspections have been ordered

166 Agent to make sure Town/Boro inspector has access to property for sale certification

167 Any outstanding Real Estate documents are Signed By All Parties required by lender

168 Coordinate closing process with buyer's agent and lender

169 Update closing forms & files

170 Ensure all parties have all forms and information needed to close the sale

171 Follow up with title office or attorney on location where closing will be held

172 Confirm closing date and time and notify all parties

173 Assist in solving any title problems (boundary disputes, easements, etc) or in obtaining Death Certificates

174 Work with buyer's agent in scheduling and conducting buyer's Final Walk-Thru prior to closing

175 Research all tax, HOA, utility and other applicable prorations

176 Request final settlement figures from closing agent (attorney or title company)

177 Make sure Buyer or Seller receives & carefully reviews closing figures to ensure accuracy

178 Forward verified closing figures to buyer's agent

179 Request copy of closing documents from closing agent

180 Confirm buyer and buyer's agent have received title insurance commitment

181 Provide "Home Owners Warranty" for availability at closing

182 Make sure all parties receive copy and original CO certification and other pertinent docs

183 Make sure closing officer forwards closing documents to absentee seller as requested

184 Review documents with closing agent (attorney) at closing, sign off any necessary docs that are required by agent

185 Provide earnest money deposit check from escrow account to closing agent, if necessary

186 Make sure that this closing coordinates with seller's next purchase and resolve any timing problems

187 Have a "no surprises" closing so that seller receives a net proceeds check at closing

188 Refer sellers to one of the best agents at their destination, if applicable

189 Change MLS status to Sold. Enter sale date, price, selling broker and agent's ID numbers, etc.

190 Close out listing in transaction management program

Follow Up After Closing

191 Answer questions about filing claims with Home Owner Warranty company if requested

192 Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied

193 Respond to any follow-on calls and provide any additional information required from office files

194 Make sure buyer and/or seller is satisfied with home transaction and there are no lingering issues if any

Blog author image

Lucy Korzelius

I got into the Home Dream profession in 1992 because of my passion for Real Estate. The love of buying, selling, architecture, design, lifestyles, etc...the ability to combine them and the desire to ....

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