184 Things Listing Agents Do!
What Agents Do For You:
184 things that listing agents do in every real estate transaction
Shared by Jason
appointmentwith sellerfor listing presentation.
- Send a written or e-mail confirmation of appointment and call to confirm.
- Review appointment questions.
- Research all comparable currently listed properties.
- Research sales activity for
past18 months from MLS and public databases.
- Research “average days on market” for properties similar in type, price
- Download and review property tax roll information.
- Prepare “comparable market analysis” (CMA) to establish market value.
copyof subdivision plat/complex layout.
- Research property’s ownership and deed type.
- Research property’s public record information for lot size and dimensions.
- Verify legal description.
- Research property’s land use coding and deed restrictions.
- Research property’s current use and zoning.
- Verify legal names of owner(s) in
county’spublic property records.
- Prepare listing presentation package with
- Perform exterior “curb appeal assessment” of
- Compile and assemble formal file on property.
- Confirm current public schools and explain their impact on market value.
- Review listing appointment checklist to ensure completion of all tasks.
Listing Appointment Presentation
- Give seller an overview of current market conditions and projections.
- Review agent and company credentials and accomplishments.
company’sprofile and position or “niche” in the marketplace.
- Present CMA results, including comparables,
solds, current listings and expireds.
- Offer professional pricing strategy based and interpretation of current market conditions.
- Discuss goals to market effectively.
- Explain market power and benefits of multiple listing
- Explain market power of Web marketing, IDX and REALTOR.com.
- Explain the work the broker and agent do “behind the scenes” and agent’s availability on weekends.
- Explain agent’s role in screening qualified buyers to protect against curiosity seekers.
- Present and discuss strategic master marketing plan.
- Explain different agency relationships and determine
- Review all clauses in
listingcontract and obtain seller’ssignature.
After Listing Agreement is Signed
- Review current title information.
- Measure overall and heated square footage.
- Measure interior room sizes.
- Confirm lot size via owner’s copy of
certifiedsurvey, if available.
- Note any and all unrecorded property lines, agreements, easements.
- Obtain house plans, if applicable and available.
- Review house plans, make
- Order plat map for retention in property’s listing file.
showinginstructions for buyers’ agents and agree on showing time with seller.
- Obtain current mortgage loan(s) information: companies and account numbers.
- Verify current loan information with
assumabilityof loan(s) and any special requirements.
- Discuss possible buyer financing alternatives and options with
- Review current appraisal if available.
- Identify Home Owner Association manager is applicable.
- Verify Home Owner Association fees with manager–mandatory or optional and current annual fee.
- Order copy of Home Owner Association bylaws, if applicable.
- Research electricity availability and supplier’s name and phone number.
- Calculate average utility usage from last 12 months of bills.
- Research and verify city sewer/septic tank system.
- Calculate average water system fees or rates from last 12 months of bills.
- Or confirm well status, depth
andoutput from Well Report.
- Research/verify natural gas availability, supplier’s name
- Verify security system,
termof service and whether owned or leased.
- Verify if
sellerhas transferable Termite Bond.
- Ascertain need for lead-based paint disclosure.
detailedlist of property amenities and assess market impact.
detailedlist of property’s “Inclusions & Conveyances with Sale.” Completelist of completed repairs and maintenance items.
- Send “Vacancy Checklist” to
sellerif propertyis vacant.
benefitsof Home Owner Warranty to seller.
- Assist sellers with completion and submission of Home Owner Warranty application.
- When received, place Home Owner Warranty in property file for conveyance at
- Have extra key made for
- Verify if
propertyhas rental units involved. And if so:
- Make copies of all leases for retention in listing file.
- Verify all rents and deposits.
- Inform tenants of listing and discuss how showings will be handled.
- Arrange for yard sign installation.
- Assist seller with
completionof Seller’s Disclosure form.
- Complete “new listing checklist.”
- Review results of Curb Appeal Assessment with
sellerand suggest improvements for salability.
- Review results of Interior Decor Assessment and suggest changes to shorten time on
- Load listing time into transaction management software.
Entering Property in MLS Database
- Prepare MLS Profile Sheet–
agentis responsible for “quality control” and accuracy of listing data.
- Enter property data from Profile Sheet into MLS listing database.
- Proofread MLS database listing for accuracy, including property placement in mapping function.
propertyto company’sActive Listings.
- Provide seller with signed copies of
ListingAgreement and MLS Profile Data Form within 48 hours.
- Take more photos for upload into MLS and use in flyers. Discuss efficacy of panoramic photography.
Marketing the Listing
- Create print and Internet ads with seller’s input.
- Coordinate showings with owners, tenants and other agents. Return all calls–weekends included.
- Install electronic lockbox. Program with agreed-upon showing time windows.
- Prepare mailing and contact list.
- Generate mail-merge letters to contact list.
- Order “Just Listed” labels and reports.
- Prepare flyers and feedback forms.
- Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions
- Prepare property marketing brochure for seller’s review.
- Arrange for printing or copying of supply of marketing brochures or flyers.
- Place marketing brochures in all company agent mailboxes.
- Upload listing to company and agent Internet sites, if applicable.
- Mail “Just Listed” notice to all neighborhood residents.
- Advise Network Referral Program of listing.
- Provide marketing data to buyers from international relocation networks.
- Provide marketing data to buyers coming from referral network.
- Provide “Special Feature” cards form marketing, if applicable/
- Submit ads to company’s participating Internet real estate sites.
- Convey price changes promptly to all Internet groups.
- Reprint/supply brochures promptly as needed.
- Review and update loan information in MLS as required.
- Send feedback e-mails/faxes to buyers’ agents after showings.
- Review weekly Market Study.
- Discuss feedback from showing agents with seller to determine if changes will accelerate the sale.
- Place regular weekly update calls to seller to discuss marketing and pricing.
- Promptly enter price changes in MLS listings database.
The Offer and the Contract
- Receive and review all Offer to Purchase contracts submitted by buyers or buyers’ agents.
- Evaluate offer(s) and prepare “net sheet” on each for
- Counsel seller on offers. Explain
meritsand weakness of each component of each offer.
- Contact buyers’ agents to review buyer’s qualifications and discuss
- Fax/deliver Seller’s Disclosure to buyer’s agent or buyer upon request and prior to
- Confirm buyer is pre-qualified by calling
- Obtain pre-qualification letter on buyer from
- Negotiate all offers on seller’s behalf, setting
timelimit for loan approval and closing date.
- Prepare and convey any counteroffers, acceptance or amendments to
- Fax copies of
contractand all addendums to closing attorney or title company.
- When Offer-to-Purchase contract is accepted and signed by
seller, deliver to buyer’s agent.
- Record and promptly deposit buyer’s money into
- Disseminate “Under-Contract Showing Restrictions” as seller requests.
- Deliver copies of fully signed Offer to Purchase contract to sellers.
- Fax/deliver copies of Offer to Purchase contract to selling agent.
- Fax 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 MLS status to “Sale Pending.”
- Update 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
propertyis to be seller financed.
- Assist buyer with obtaining financing and follow up as necessary.
- Coordinate with lender on discount points being locked in with dates.
- Deliver unrecorded property information to
- Order septic inspection, if applicable.
- Receive and review
septicsystem report and access any impact on sale.
copyof septic system inspection report to lenderand buyer.
- Deliver well flow test report copies to lender, buyer and listing file.
- Verify termite inspection ordered.
- Verify mold inspection
Tracking the Loan Process
- Confirm return of verifications of deposit and buyer’s employment.
- Follow loan processing through to the underwriter.
- Add lender and other vendors to transaction management program so agents, buyer
andseller can track progressof sale.
- Contact lender weekly to ensure processing is on track.
- Relay final approval of buyer’s loan application to
- Coordinate buyer’s professional home inspection with
- Review home inspector’s report.
- Enter completion into
transactionmanagement tracking software program.
- Explain seller’s responsibilities of loan limits and interpret any clauses in the contract.
seller’scompliance with home inspection clause requirements.
- Assist seller with identifying and negotiating with trustworthy contractors for required repairs.
- Negotiate payment and oversee completion of all required repairs on seller’s behalf, if needed.
- Schedule appraisal.
- Provide comparable sales used in market pricing to
- Follow up on
- Enter completion into transaction management program.
- Assist seller in questioning appraisal report if it seems too low.
Closing Preparations and Duties
- Make sure
contractis signed by all parties.
- Coordinate closing process with
buyer’sagent and lender.
- Update closing forms and files.
- Ensure all parties have all forms and information needed to close the sale.
- Select location for closing.
- Confirm closing date and time and notify all parties.
- Solve any title problems (boundary disputes, easements, etc.) or in obtaining death certificates.
- Work with buyer’s agent in scheduling and conducting
buyer’sfinal walkthrough prior to closing.
- Research all tax, HOA, utility and other applicable proration’s.
- Request final closing figures from
closingagent (attorney or title company).
- Receive and carefully review closing figures to ensure accuracy.
- Forward verified closing figures to buyer’s agent.
- Request copy of closing documents from closing agent.
- Confirm the buyer and buyer’s agent received title insurance commitment.
- Provide “Home Owners Warranty” for availability at closing.
- Review all closing documents carefully for errors.
- Forward closing documents to
absenteeseller as requested.
- Review documents with
- Provide earnest money deposit from escrow account to
- Coordinate closing with seller’s next purchase, resolving timing issues.
- Have a “no surprises” closing so that seller receives
a netproceeds check at closing.
- Refer sellers to one of the best agents at their destination, if applicable.
- Change MLS status to Sold. Enter sale date, price, selling broker and agent’s ID numbers, etc.
- Close out
listingin transaction management program.
Follow Up After Closing
- Answer questions about filing claims with Home Owner Warranty company, if requested.
- Attempt to clarify and resolve any repair conflicts if
- Respond to any follow-up calls and provide any additional information required from office files.