184 REASONS WHY YOU NEED 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 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 and deed type
11. Research property’s public record information for lot size and 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 a 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 are 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 to seller, including comparable properties, sold properties, current listings, and expired listings
25. Offer pricing strategy based on professional judgment and 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 you do behind the scenes and your availability on weekends
30. Explain role in screening for qualified buyers and protect seller from curiosity seekers
31. Present and discuss strategic master marketing plan
32. Explain transaction brokerage relationship
33. Review and explain all clauses in listing contract and addendum, then 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 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 showing times with seller
43. Obtain current mortgage loan(s) information: companies & 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 Homeowner Association manager if applicable
49. Verify Homeowner Association Fees with manager—mandatory or optional, plus fees
50. Order copy of Homeowner Association bylaws, if applicable
51. Research electricity availability, 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. Calculate average water fees or rates from last 12 months of bills
55. Confirm well status, depth and output from Well Report
56. Natural Gas: Research/verify availability, supplier’s name, and phone number
57. Verify security system, current terms 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 and 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 Homeowner Warranty to seller
65. Assist sellers with completion and submission of Homeowner Warranty Application
66. Place Homeowner 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.
69. If the property does have rental units, make copies of all leases for retention in listing file
70. Verify all rents and 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. Complete new listing checklist
75. Review curb appeal assessment and provide suggestions to improve salability
76. Review interior décor assessment and suggest changes to shorten time on market
77. Load listing into transaction management software program
78. Prepare MLS Profile Sheet
79. Enter property data from Profile Sheet into MLS Listing Database
80. Proofread MLS database listing for accuracy— including proper placement in map
81. Add property to company’s active listings list
82. Provide seller copies of the listing agreement and MLS Profile Sheet within 48 hours
83. Take additional photos for upload into MLS and use in fliers
84. Create print and internet ads with seller’s input
85. Coordinate showings with owners, tenants, and other REALTORS®. Return all calls
86. Install electronic lock box if authorized. Program agreed-to showing times
87. Prepare mailing and contact list
88. Generate mail-merge letters to contact list
89. Order Just Listed labels and reports
90. Prepare fliers and feedback reports
91. Review comparable MLS listings regularly to ensure property remains competitive
92. Prepare property marketing brochure for seller’s review
93. Arrange for printing or copying of marketing brochures or fliers
94. Place marketing brochures in all company agent mailboxes
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 through international relocation network buyers
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 sent to buyers’ agents after showings
106. Review weekly market study
107. Discuss with sellers any feedback from showings to determine if changes are needed
108. Place regular weekly update calls to seller to discuss marketing and pricing
109. Promptly enter price changes in the MLS listing database
110. Receive and review all Offer to Purchase contracts submitted by buyers’ agents.
111. Evaluate offer(s) and prepare a net sheet for the owner for comparison purposes
112. Explain merits and weakness of each offer to sellers
113. Contact buyers’ agents to review buyer’s qualifications and discuss offer
114. Deliver Seller’s Disclosure to buyer upon request and prior to offer if possible
115. Confirm buyer is pre-qualified by calling loan officer
116. Obtain buyers’ pre-qualification letter from loan officer
117. Negotiate all offers on seller’s behalf, set time limit for loan approval and closing
118. Prepare and convey counteroffers, acceptance or amendments to buyer’s agent
119. Email or send copies of contract and all addendums to the closing attorney or title company
120. When Offer to Purchase contract is accepted, deliver to buyer’s agent
121. Record and promptly deposit buyer’s earnest money in escrow account
122. Disseminate under-contract showing restrictions as seller requests
123. Deliver copies of fully signed Offer to Purchase contract to seller
124. Deliver copies of Offer to Purchase contract to selling agent
125. Deliver copies of Offer to Purchase contract to lender
126. Provide copies of signed Offer to Purchase contract for office file
127. Advise seller of additional offers submitted between contract and closing
128. Change status in MLS to Sale Pending
129. Update transaction management program show Sale Pending
130. Review buyer’s credit report. Advise seller of worst- and best-case scenarios
131. Provide credit report information to seller if property will be seller-financed
132. Assist buyer with obtaining financing, if applicable, and follow-up as necessary
133. Coordinate with lender on discount points being locked in with dates
134. Deliver unrecorded property information to buyer
135. Order septic system inspection, if applicable
136. Receive and review septic system report, and assess any possible impact on sale
137. Deliver copy of septic system inspection report lender and buyer
138. Deliver Well Flow Test Report copies to lender and buyer, and property listing file
139. Verify termite inspection ordered
140. Verify mold inspection ordered, if required
141. Confirm verifications of deposit and buyer’s employment have been returned
142. Follow loan processing through to the underwriter
143. Add lender and other vendors to your management program so agents, buyer, and seller can track progress of sale
144. Contact lender weekly to ensure processing is on track
145. Relay final approval of buyer’s loan application to seller

Home Inspection

146. Coordinate with seller for buyer’s professional home inspection
147. Review home inspector’s report
148. Enter completion into transaction management tracking program
149. Explain seller’s responsibilities, and recommend an attorney interpret any clauses in the contract
150. Ensure seller’s compliance with Home Inspection Clause requirements
151. Assist seller with identifying contractors to perform any required repairs
152. Negotiate payment, and oversee all required repairs on seller’s behalf, if needed

The Appraisal

153. Schedule appraisal
154. Provide to appraiser any comparable sales used in market pricing
155. Follow-up on appraisal
156. Enter completion into transaction management program
157. Assist seller in questioning appraisal report if it seems too low
158. Get contract signed by all parties
159. Coordinate closing process with buyer’s agent and lender
160. Update closing forms and files
161. Ensure all parties have all forms and information needed to close the sale
162. Select location where closing will be held
163. Confirm closing date and time, and notify all parties
164. Assist in solving any title problems or in obtaining death certificates
165. Work with buyer’s agent in scheduling buyer’s final walk-thru prior to closing
166. Research all tax, homeowners’ association dues, utility, and applicable prorations
167. Request final closing figures from closing agent (attorney or title company)
168. Receive and carefully review closing figures to ensure accuracy of preparation
169. Forward verified closing figures to buyer’s agent
170. Request copy of closing documents from closing agent
171. Confirm buyer and buyer’s agent have received title insurance commitment
172. Provide homeowners warranty for availability at closing
173. Reviews all closing documents carefully for errors
174. Forward closing documents to absentee seller as requested
175. Review documents with closing agent (attorney)
176. Provide earnest money deposit check from escrow account to closing agent
177. Coordinate closing with seller’s next purchase, and resolve any timing problems
178. Have a no-surprises closing so seller receives a net-proceeds check at closing
179. Refer sellers to one of the best agents at their destination, if applicable
180. Change MLS status to Sold. Enter sale date, price, selling broker, etc.
181. Close out listing in your management program

Follow-up After Closing

182. Provide answers about filing claims with homeowner warranty company if requested
183. Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied
184. Respond to any calls and provide any information required from office files

Reprinted with permission of the National Association of Realtors®