What do Realtors Do?

PRE-LISTING ACTIVITIES

A comprehensive list of tasks for preparing to meet a property owner to discuss their home value/sale.

• Schedule a meeting with the seller to discuss listing their property.

• Verify legal names of owner(s) in county’s public property records

• Confirm the appointment with the seller via written or email communication, and follow up with a phone call to ensure they received the confirmation.

• Review pre-appointment questions

• Research all comparable currently listed properties

• Research sales activity from Local MLS Broker Marketplaces and public records databases

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

• Download and review property tax roll/assessor information

• Prepare preliminary Comparable Market Analysis (CMA) to establish fair market value

• Obtain copy of subdivision plat/complex lay-out *

• Research property’s ownership and deed type

• Research property’s public record information for lot size and dimensions

• Research and verify legal description

• Research property’s land use coding and deed restrictions

• Research property’s current use and zoning

• Prepare listing presentation package with above materials

• Review listing appointment checklist to ensure all steps and actions are completed

• Add client to Database.

  17. Perform exterior Curb Appeal

  Assessment of subject property

  18. Compile a formal file on property

• This checklist covers everything from scheduling the appointment to compiling information and ensuring all necessary steps are taken before the listing presentation.

LISTING APPOINTMENT

Review the Findings and Details with the customer to become a client.

• Explain transaction/agency brokerage relationship

• Give seller an overview of current market conditions and projections

• Tour property

• Review agent’s and company’s credentials and accomplishments in the market

• Present company’s profile and position or niche in the marketplace

• Present preliminary CMA to seller, including comparable properties, sold properties, current listings, and expired listings if applicable.

• Offer pricing strategy with updates to CMA based on tour of home and updates, upgrades professional judgment, and current market conditions

• Discuss goals with seller to market effectively

• Explain market power and benefits of Local MLS Broker Marketplaces & the power of web marketing, IDX and REALTOR.com

• Explain the work you do behind the scenes and your availability on weekends.

• Explain role in screening for qualified buyers and protect seller from curiosity seekers

• Present and discuss strategic master marketing plan

• Review and explain all clauses in the listing contract and addendum, then obtain the seller’s signature once the property is under a listing agreement.

• Review current title information.

• Gather square footage and measure overall and heated square footage as required.

• Measure interior room sizes.

• Confirm lot size via the owner’s copy of a certified survey, if available.

• Note all unrecorded property liens, agreements, and easements.

• Obtain house plans, if applicable and available. Review house plans and make a copy.

• Prepare showing instructions for buyers’ agents and showing times with the seller.

• Discuss possible buyer financing alternatives and options with the seller.

Work with the Seller to Gather Data

• Identify Homeowner Association manager if applicable & verify Homeowner Association Fees with the manager—mandatory or optional, plus fees.

• Order a copy of Homeowner Association bylaws, if applicable.

• Request from seller utilities used, supplier’s name, and phone number

• Ascertain need for lead-based paint disclosure

• Prepare detailed list of property amenities and assess market impact

• Prepare detailed list of property’s inclusions and conveyances with sale

• Compile a list of completed repairs and maintenance items.

• Send a vacancy checklist to the seller if the property is vacant and register the property with the township if it is vacant or a rental home.

• Explain the benefits of a Homeowner Warranty to the seller.

• Assist sellers with the completion and submission of the Homeowner Warranty Application.

• Place the Homeowner Warranty in the property file for conveyance at the time of sale.

• Verify if the property has rental units involved. If the property does have rental units, make copies of all leases for retention in the listing file.

• Verify all rents and deposits.

• Inform tenants of the listing and discuss how showings will be handled.

Listing and Beyond

• Have an extra key made for the lockbox and one for your file.

• Arrange for the installation of the yard sign.

• Complete the new listing checklist.

• Review the curb appeal assessment and provide suggestions to improve salability.

• Review the interior décor assessment and suggest changes to shorten time on the market.

• Load the listing into the transaction management software program.

• Prepare the Local MLS Broker Marketplaces Profile Sheet.

• Enter the property data from the Profile Sheet into the Local MLS Broker Marketplaces Database.

• Proofread the Local MLS Broker Marketplaces database listing for accuracy, including proper placement on the map.

• Add the property to the company’s active listings list.

• Provide the seller with copies of the listing agreement and Local MLS Broker Marketplaces Profile Sheet within 48 hours or within the time period specified by Local MLS Broker Marketplace guidelines.

• Take additional photos for upload into Local MLS Broker Marketplaces and use in fliers.

• Create print and internet ads.

• Coordinate showings with owners, tenants, and other agents.

• Discuss with sellers any feedback from showings to determine if changes are needed.

• Set up marketing reports on the showing-time application and company website.

• Place regular weekly update calls to the seller to discuss marketing and pricing.

• Promptly enter price changes in the Local MLS Broker Marketplaces database.

OFFERS

• Receive and review all Offer to Purchase contracts submitted by buyers’ agents.

• Evaluate offer(s) and prepare a net sheet for the owner for comparison purposes.

• Explain the merits and weaknesses of each offer to sellers.

• Contact buyers’ agents to review the buyer’s qualifications and discuss the offer.

• Deliver Seller’s Disclosure to the buyer upon request and prior to offer if possible. Upload to the Local MLS Broker Marketplaces additional documents at the time of listing.

• Confirm the buyer is pre-qualified by calling the loan officer.

• Obtain buyers’ pre-qualification letter from loan officer if not submitted with offer.

• Negotiate all offers per seller’s direction on seller’s behalf, set time limit for loan approval and closing.

• Prepare and convey counteroffers, acceptance, or amendments to buyer’s agent.

• Create Excel spreadsheets for easy review on multiple bids.

• Email or send copies of contract and all addenda to the closing attorney or title company.

• When Offer to Purchase contract is accepted, deliver to buyer’s agent.

CONTRACTS

• 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 lender.

• Provide copies of signed Offer to Purchase contract for office file.

• Advise seller of additional offers submitted between contract and closing.

• Change status in Local MLS Broker Marketplaces to Sale Pending.

• Update transaction management program to show Sale Pending.

• Provide credit report information to seller if the property will be seller-financed.

• Assist the buyer with obtaining financing, if applicable, and follow-up as necessary.

• Coordinate with the lender on discount points being locked in with dates.