Blog - Elegant Casas - Full Service Real Estate Brokerage

Pre-Listing Activities

1. Research all comparable currently listed properties

2. Research sales activity for past 18 months from MLS and public records databases

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

4. Download and review property tax roll information

5. Prepare Comparable Market Analysis (CMA) to establish fair market value

6. Obtain copy of subdivision plat/complex lay-out

7. Research property’s ownership and deed type

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

9. Research and verify legal description

10. Research property’s land use coding and deed restrictions

11. Research property’s current use and zoning

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

13. Prepare listing presentation package with above materials

14. Perform exterior Curb Appeal Assessment of subject property

15. Compile a formal file on property

16. Confirm current public schools and explain impact of schools on market value

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

Seller Consultation

18. Give seller an overview of current market conditions and projections

19. Review agent’s and company’s credentials and accomplishments in the market

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

21. Present CMA to seller, including comparable properties, sold properties, current listings, and expired listings

22. Offer pricing strategy based on professional judgment and current market conditions

23. Discuss goals with seller to market effectively

24. Explain market power and benefits of Multiple Listing Service

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

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

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

28. Present and discuss strategic master marketing plan

29. Explain transaction brokerage relationship

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

31. Review current title information

32. Measure overall and heated square footage

33. Measure interior room sizes

34. Confirm lot size via owner’s copy of certified survey, if available

35. Note all unrecorded property lines, agreements, easements

36. Obtain house plans, if applicable and available

37. Review house plans and make copy

38. Order plat map for retention in property’s listing file

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

40. Obtain current mortgage loan(s) information: companies & loan account numbers

41. Verify current loan information with lender(s)

42. Check assumability of loan(s) and any special requirements

43. Discuss possible buyer financing alternatives and options with seller

44. Review current appraisal if available

45. Identify Homeowner Association manager if applicable

46. Verify Homeowner Association Fees with manager—mandatory or optional, plus fees

47. Order copy of Homeowner Association bylaws, if applicable

48. Research electricity availability, supplier’s name, and phone number

49. Calculate average utility usage from last 12 months of bills

50. Research and verify city sewer/septic tank system

51. Calculate average water fees or rates from last 12 months of bills

52. Confirm well status, depth, and output from Well Report

53. Natural Gas: Research/verify availability, supplier’s name, and phone number

54. Verify security system, current terms of service, and whether owned or leased

55. Verify if seller has transferable Termite Bond

56. Ascertain need for lead-based paint disclosure

57. Prepare detailed list of property amenities and assess market impact

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

59. Compile list of completed repairs and maintenance items

60. Send vacancy checklist to seller if property is vacant

61. Explain benefits of Homeowner Warranty to seller

62. Assist sellers with completion and submission of Homeowner Warranty Application

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

64. Have extra key made for lockbox

65. Verify if property has rental units involved.

66. If the property does have rental units, make copies of all leases for retention in listing file

67. Verify all rents and deposits

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

69. Arrange for installation of yard sign

70. Assist seller with completion of Seller’s Disclosure form

71. Complete new listing checklist

72. Review curb appeal assessment and provide suggestions to improve salability

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

74. Load listing into transaction management software program

75. Prepare MLS Profile Sheet

76. Enter property data from Profile Sheet into MLS Listing Database

77. Proofread MLS database listing for accuracy— including proper placement in map

Market Home & Manage Listing

78. Add property to company’s active listings list

79. Provide seller copies of the listing agreement amd MLS Profile Sheet within 48 hours

80. Take additional photos for upload into MLS and use in fliers

81. Create print and internet ads with seller’s input

82. Coordinate showings with owners, tenants, and other REALTORS®. Return all calls

83. Install electronic lock box if authorized. Program agreed-to showing times

84. Prepare mailing and contact list

85. Generate mail-merge letters to contact list

86. Order Just Listed labels and reports

87. Prepare fliers and feedback reports

88. Review comparable MLS listings regularly to ensure property remains competitive

89. Prepare property marketing brochure for seller’s review

90. Arrange for printing or copying of marketing brochures or fliers

91. Place marketing brochures in all company agent mailboxes

92. Upload listing to company and agent Internet site, if applicable

93. Mail Out Just Listed postcards to all neighborhood residents

94. Advise network referral program of listing

95. Provide marketing data through international relocation network for buyers

96. Provide marketing data to buyers coming from referral network

97. Provide Special Feature cards for marketing, if applicable

98. Submit ads to company’s participating internet real estate sites

99. Price changes conveyed promptly to all internet groups

100. Reprint/supply brochures promptly as needed

101. Loan information reviewed and updated in MLS as required

102. Feedback e-mails sent to buyers’ agents after showings

103. Review weekly market study

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

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

106. Promptly enter price changes in the MLS listing database

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

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

109. Explain merits and weakness of each offer to sellers

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

111. Deliver Seller’s Disclosure to buyer upon request and prior to offer if possible

112. Confirm buyer is pre-qualified by calling loan officer

113. Obtain buyers’ pre-qualification letter from loan officer

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

115. Prepare and convey counter offers, acceptance, or amendments to buyer’s agent

116. Email or send copies of contract and all addendums to the closing attorney or title company

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

118. Record and promptly deposit buyer’s earnest money in escrow account

119. Disseminate under-contract showing restrictions as seller requests

120. Deliver copies of fully signed Offer to Purchase contract to seller

121. Deliver copies of Offer to Purchase contract to selling agent

122. Deliver copies of Offer to Purchase contract to lender

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

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

125. Change status in MLS to Sale Pending

126. Update transaction management program show Sale Pending

127. Review buyer’s credit report. Advise seller of worst- and best-case scenarios

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

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

130. Coordinate with lender on discount points being locked in with dates

131. Deliver unrecorded property information to buyer

132. Order septic system inspection, if applicable

133. Receive and review septic system report, and assess any possible impact on sale

134. Deliver copy of septic system inspection report lender and buyer

135. Deliver Well Flow Test Report copies to lender and buyer, and property listing file

136. Verify termite inspection ordered

137. Verify mold inspection ordered, if required

138. Confirm verifications of deposit and buyer’s employment have been returned

139. Follow loan processing through to the underwriter

140. Add lender and other vendors to your management program so agents, buyer, and, seller can track progress of sale

141. Contact lender weekly to ensure processing is on track

142. Relay final approval of buyer’s loan application to seller

Home Inspection

143. Coordinate with seller for buyer’s professional home inspection

144. Review home inspector’s report

145. Enter completion into transaction management tracking program

146. Explain seller’s responsibilities, and interpret any clauses in the contract

147. Ensure seller’s compliance with Home Inspection Clause requirements

148. Assist seller with identifying contractors to perform any required repairs

149. Negotiate payment, and oversee all required repairs on seller’s behalf, if needed

The Appraisal

150. Schedule appraisal

151. Provide to appraiser any comparable sales used in market pricing

152. Follow-up on appraisal

153. Enter completion into transaction management program

154. Assist seller in questioning appraisal report if it seems too low

Closing

155. Get contract signed by all parties

156. Coordinate closing process with buyer’s agent and lender

157. Update closing forms and files

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

159. Select location where closing will be held

160. Confirm closing date and time, and notify all parties

161. Assist in solving any title problems or in obtaining death certificates

162. Work with buyer’s agent in scheduling buyer’s final walk-thru prior to closing

163. Research all tax, homeowners’ association dues, utility, and applicable prorations

164. Request final closing figures from title company

165. Receive and carefully review closing figures to ensure accuracy of preparation

166. Forward verified closing figures to buyer’s agent

167. Request copy of closing documents from closing agent

168. Confirm buyer and buyer’s agent have received title insurance commitment

169. Provide homeowners warranty for availability at closing

170. Reviews all closing documents carefully for errors

171. Forward closing documents to absentee seller as requested

172. Review documents with closing agent

173. Provide earnest money deposit check from escrow account to closing agent

174. Coordinate closing with seller’s next purchase, and resolve any timing problems

175. Have a no-surprises closing so seller receives a net-proceeds check at closing

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

177. Change MLS status to Sold. Enter sale date, price, selling broker, etc.

178. Close out listing in your management program

Follow-up After Closing

179. Provide answers about filing claims with homeowner warranty company if requested

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

181. Respond to any calls and provide any information required from office files

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