The Relevance of a REALTOR®

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 18 months 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 checklist 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 work the brokerage and agent do “behind the scenes” and agent’s availability on weekends
• 30. Explain agent’s role in taking calls to screen for qualified buyers and protect seller from curiosity seekers
• 31. Present and discuss strategic master marketing plan
• 32. Explain different agency relationships and determine seller’s preference
• 33. Review and explain all clauses in Listing Contract & Addendum and obtain seller’s signature

Once Property is Under Listing Agreement

• 34. Review current title information
• 35. Measure overall and heated square footage
• 36. Measure interior room sizes
• 37. Confirm lot size via owner’s copy of certified survey, if available
• 38. Note any and all unrecorded property lines, agreements, easements
• 39. Obtain house plans, if applicable and available
• 40. Review house plans and make copy
• 41. Order plat map for retention in property’s listing file
• 42. Prepare showing instructions for buyers’ agents and agree on showing time window with seller
• 43. Obtain current mortgage loan(s) information: companies and & loan account numbers
• 44. Verify current loan information with lender(s)
• 45. Check assumability of loan(s) and any special requirements
• 46. Discuss possible buyer financing alternatives and options with seller
• 47. Review current appraisal if available
• 48. Identify Home Owner Association manager if applicable
• 49. Verify Home Owner Association Fees with manager – mandatory or optional and current annual fee
• 50. Order copy of Homeowner Association bylaws, if applicable
• 51. Research electricity availability and supplier’s name and phone number
• 52. 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 if seller has transferable Termite Bond
• 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. Send “Vacancy Checklist” to seller if property is vacant
• 64. Explain benefits of Home Owner Warranty to seller
• 65. Assist sellers with completion and submission of Home Owner Warranty Application
• 66. When received, place Home Owner Warranty in property file for conveyance at time of sale
• 67. Have extra key made for lockbox
• 68. Verify if property has rental units involved. And if so:
• 69. Make copies of all leases for retention in listing file
• 70. Verify all rents & deposits
• 71. Inform tenants of listing and discuss how showings will be handled
• 72. Arrange for installation of yard sign
• 73. Assist seller with completion of Seller’s Disclosure form
• 74. “New Listing Checklist” Completed
• 75. Review results of Curb Appeal Assessment with seller and provide suggestions to improve salability
• 76. Review results of Interior Décor Assessment and suggest changes to shorten time on market
• 77. Load listing into transaction management software program

Entering Property in Multiple Listing Service Database

• 78. Prepare MLS Profile Sheet — Agents is responsible for “quality control” and accuracy of listing data
• 79. Enter property data from Profile Sheet into MLS Listing Database
• 80. Proofread MLS database listing for accuracy – including proper placement in mapping function
• 81. Add property to company’s Active Listings list
• 82. Provide seller with signed copies of Listing Agreement and MLS Profile Sheet Data Form within 48 hours
• 83. Take additional photos for upload into MLS and use in flyers. Discuss efficacy of panoramic Photography

Marketing The Listing

• 84. Create print and Internet ads with seller’s input
• 85. Coordinate showings with owners, tenants, and other Realtors®. Return all calls – weekends included
• 86. Install electronic lock box if authorized by owner. Program with agreed-upon showing time windows
• 87. Prepare mailing and contact list
• 88. Generate mail-merge letters to contact list
• 89. Order “Just Listed” labels & reports
• 90. Prepare flyers & feedback faxes
• 91. Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability
• 92. Prepare property marketing brochure for seller’s review
• 93. Arrange for printing or copying of supply of marketing brochures or fliers
• 94. Place marketing brochures in all company agent mail boxes
• 95. Upload listing to company and agent Internet site, if applicable
• 96. Mail Out “Just Listed” notice to all neighborhood residents
• 97. Advise Network Referral Program of listing
• 98. Provide marketing data to buyers coming through international relocation networks
• 99. Provide marketing data to buyers coming from referral network
• 100. Provide “Special Feature” cards for marketing, if applicable
• 101. Submit ads to company’s participating Internet real estate sites
• 102. Price changes conveyed promptly to all Internet groups
• 103. Reprint/supply brochures promptly as needed
• 104. Loan information reviewed and updated in MLS as required
• 105. Feedback e-mails/faxes sent to buyers’ agents after showings
• 106. Review weekly Market Study
• 107. Discuss feedback from showing agents with seller to determine if changes will accelerate the sale
• 108. Place regular weekly update calls to seller to discuss marketing & pricing
• 109. Promptly enter price changes in MLS listing database

The Offer and Contract

• 109. Receive and review all Offer to Purchase contracts submitted by buyers or buyers’ agents.
• 110. Evaluate offer(s) and prepare a “net sheet” on each for the owner for comparison purposes
• 111. Counsel seller on offers. Explain merits and weakness of each component of each offer
• 112. Contact buyers’ agents to review buyer’s qualifications and discuss offer
• 113. Fax/deliver Seller’s Disclosure to buyer’s agent or buyer upon request and prior to offer if possible
• 114. Confirm buyer is pre-qualified by calling Loan Officer
• 115. Obtain pre-qualification letter on buyer from Loan Officer
• 116. Negotiate all offers on seller’s behalf, setting time limit for loan approval and closing date
• 117. Prepare and convey any counteroffers, acceptance or amendments to buyer’s agent
• 118. Fax copies of contract and all addendums to closing attorney or title company
• 119. When Offer to Purchase Contract is accepted and signed by seller, deliver to buyer’s agent
• 120. Record and promptly deposit buyer’s earnest money in escrow account.
• 121. Disseminate “Under-Contract Showing Restrictions” as seller requests
• 122. Deliver copies of fully signed Offer to Purchase contract to seller
• 123. Fax/deliver copies of Offer to Purchase contract to Selling Agent
• 133. Fax copies of Offer to Purchase contract to lender
• 124. Provide copies of signed Offer to Purchase contract for office file
• 125. Advise seller in handling additional offers to purchase submitted between contract and closing
• 126. Change status in MLS to “Sale Pending”
• 127. Update transaction management program to show “Sale Pending”
• 128. Review buyer’s credit report results — Advise seller of worst and best case scenarios
• 129. Provide credit report information to seller if property will be seller-financed
• 130. Assist buyer with obtaining financing, if applicable and follow-up as necessary
• 131. Coordinate with lender on Discount Points being locked in with dates
• 132. Deliver unrecorded property information to buyer
• 133. Order septic system inspection, if applicable
• 134. Receive and review septic system report and assess any possible impact on sale
• 135. Deliver copy of septic system inspection report lender & buyer
• 136. Deliver Well Flow Test Report copies to lender & buyer and property listing file
• 137. Verify termite inspection ordered
• 138. Verify mold inspection ordered, if required

Tracking the Loan Process

• 139. Confirm Verifications Of Deposit & Buyer’s Employment Have Been Returned
• 140. Follow Loan Processing Through To The Underwriter
• 141. Add lender and other vendors to transaction management program so agents, buyer and seller can track progress of sale
• 142. Contact lender weekly to ensure processing is on track
• 143. Relay final approval of buyer’s loan application to seller

Home Inspection

• 144. Coordinate buyer’s professional home inspection with seller
• 145. Review home inspector’s report
• 146. Enter completion into transaction management tracking software program
• 147. Explain seller’s responsibilities with respect to loan limits and interpret any clauses in the contract
• 148. Ensure seller’s compliance with Home Inspection Clause requirements
• 149. Recommend or assist seller with identifying and negotiating with trustworthy contractors to perform any required repairs
• 150. Negotiate payment and oversee completion of all required repairs on seller’s behalf, if needed

The Appraisal

• 151. Schedule Appraisal
• 154. Provide comparable sales used in market pricing to Appraiser
• 152. Follow-Up On Appraisal
• 151. Enter completion into transaction management program
• 153. Assist seller in questioning appraisal report if it seems too low

Closing Preparations and Duties

• 154. Contract Is Signed By All Parties
• 155. Coordinate closing process with buyer’s agent and lender
• 156. Update closing forms & files
• 157. Ensure all parties have all forms and information needed to close the sale
• 158. Select location where closing will be held
• 159. Confirm closing date and time and notify all parties
• 160. Assist in solving any title problems (boundary disputes, easements, etc) or in obtaining Death Certificates
• 161. Work with buyer’s agent in scheduling and conducting buyer’s Final Walk-Thru prior to closing
• 172. Research all tax, HOA, utility and other applicable prorations
• 162. Request final closing figures from closing agent (attorney or title company)
• 163. Receive & carefully review closing figures to ensure accuracy of preparation
• 164. Forward verified closing figures to buyer’s agent
• 165. Request copy of closing documents from closing agent
• 166. Confirm buyer and buyer’s agent have received title insurance commitment
• 167. Provide “Home Owners Warranty” for availability at closing
• 168. Review all closing documents carefully for errors
• 169. Forward closing documents to absentee seller as requested
• 170. Review documents with closing agent (attorney)
• 171. Provide earnest money deposit check from escrow account to closing agent
• 173. Coordinate this closing with seller’s next purchase and resolve any timing problems
• 174. Have a “no surprises” closing so that seller receives a net proceeds check at closing
• 175. Refer sellers to one of the best agents at their destination, if applicable
• 176. Change MLS status to Sold. Enter sale date, price, selling broker and agent’s ID numbers, etc.
• 177. Close out listing in transaction management program

Follow Up After Closing

• 178. Answer questions about filing claims with Home Owner Warranty company if requested
• 179. Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied
• 180. Respond to any follow-on calls and provide any additional information required from office files