179 WAYS AGENTS WHO ARE REALTORS ® ARE WORTH EVERY PENNY OF THEIR COMPENSATION. Here’s a look at all the things — big and small — that an agent who is a REALTOR ® may do to help clients when buying and selling a home. You know you earn every penny you get when you sell a home. This list can help you show your customers exactly what you do to help them buy or sell their home.
PRE-LISTING ACTIVITIES
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Make appointment with seller for listing presentation Send seller a written or e-mail confirmation of listing appointment and call to confirm
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
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3. Review pre-appointment questions 4. Research all comparable currently listed properties 5. Research sales activity from Local MLS Broker Marketplaces 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/assessor information 8. Prepare preliminary 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
20. Review listing appointment
checklist to ensure all steps and actions are completed
21. Review Obsolete Property Rehabilitation Act (OPRA) Report from Township for all permitted records 22. Add client into your database
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23. Give seller an overview of current market conditions and projections 24. Tour property 25. Review agent’s and company’s credentials and accomplishments in the market 26. Present company’s profile and position or niche in the marketplace 27. Present preliminary CMA to seller, including comparable properties, sold properties, current listings, and expired listings 28. Offer pricing strategy with updates to CMA based on tour of home and 29. Discuss goals with seller to market effectively 30. Explain market power and benefits of Local MLS Broker Marketplaces 31. Explain market power of web marketing, IDX and REALTOR.com 32. Explain the work you do behind the scenes and your availability on weekends 33. Explain role in screening for qualified buyers and protect seller from curiosity seekers 34. Present and discuss strategic master marketing plan 35. Explain transaction/agency brokerage relationship updates, upgrades professional judgment, and current market conditions LISTING APPOINTMENT PRESENTATION
36. Review and explain all clauses in listing contract and addendum, then obtain seller’s signature once property is under listing agreement 37. Review current title information 38. Gather square footage/measure overall and heated square footage as required 39. Measure interior room sizes 40. Confirm lot size via owner’s copy of certified survey, if available 41. Note all unrecorded property liens, agreements, easements 42. Obtain house plans, if applicable and available 43. Review house plans and make copy 44. Prepare showing instructions for buyers’ agents and showing times with seller 45. Discuss possible buyer financing alternatives and options with seller 46. Review current appraisal if available 47. Identify Homeowner Association manager if applicable 48. Verify Homeowner Association Fees with manager—mandatory or optional, plus fees 49. Order copy of Homeowner Association bylaws, if applicable 50. Research electricity availability,
supplier’s name, and phone number
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51. Have utility companies provide average utility usage from last 12 months of bills 52. Research and verify city sewer/septic tank system 53. Calculate average water fees or rates from last 12 months of bills 54. Confirm well status, depth and output from Well Report 55. Natural Gas: Research/verify availability, supplier’s name, and phone number 56. Verify security system, current terms of service and whether owned or leased 57. Verify if seller has transferable Termite Bond 58. Ascertain need for lead-based paint disclosure 59. Prepare detailed list of property amenities and assess market impact 60. Prepare detailed list of property’s inclusions and conveyances with sale LISTING APPOINTMENT PRESENTATION (CONTINUED)
61. Compile list of completed repairs and maintenance items 62. Send vacancy checklist to seller if property is vacant and register the property with the township if it is vacant or a rental home 63. Explain benefits of Homeowner Warranty to seller 64. Assist sellers with completion and submission of Homeowner Warranty Application 65. Place Homeowner Warranty in property file for conveyance at time of sale 66. Have extra key made for lockbox and one for your file 67. Verify if property has rental units involved. 68. If the property does have rental units, make copies of all leases for retention in listing file 69. Verify all rents and deposits 70. Inform tenants of listing and discuss how showings will be handled
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71. Arrange for installation of yard sign 72. Complete new listing checklist 73. Review curb appeal assessment and provide suggestions to improve saleability 74. Review interior décor assessment and suggest changes to shorten time on market 75. Load listing into transaction management software program 76. Prepare Local MLS Broker Marketplaces Profile Sheet 77. Enter property data from Profile Sheet into Local MLS Broker Marketplaces Database 78. Proofread Local MLS Broker Marketplaces database listing for accuracy— including proper placement in map 79. Add property to company’s active listings list 80. Provide seller copies of the listing agreement and Local MLS Broker Marketplaces Profile Sheet within 48 hours or within the time period of Local MLS Broker Marketplace guidelines 81. Take additional photos for upload into Local MLS Broker Marketplaces and use in fliers 82. Create print and internet ads with seller’s input 83. Coordinate showings with owners, tenants, and other agents. LISTING APPOINTMENT PRESENTATION (CONTINUED)
84. Return all calls 85. Install electronic lock box if authorized. Program agreed-to showing times 86. Prepare mailing and contact list 87. Generate mail-merge letters to contact list 88. Order Just Listed labels and reports 89. Prepare fliers and feedback reports 90. Review comparable Local MLS Broker Marketplaces regularly to ensure property remains competitive 91. Prepare property marketing brochure for seller’s review 92. Arrange for printing or copying of marketing brochures or fliers 93. Place marketing brochures in all company agent mailboxes 94. Upload listing to company and agent Internet site, if applicable 95. Mail out Just Listed notice to all neighborhood residents 96. Advise network referral program of listing 97. Provide marketing data to buyers through international relocation network buyers 98. Provide marketing data to buyers coming from referral network 99. Provide Special Feature cards for marketing, if applicable
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LISTING APPOINTMENT PRESENTATION (CONTINUED)
100. Submit ads to company’s
105. Discuss with sellers any feedback from showings to determine if changes are needed 106. Set up marketing reports on showing-time application and company website 107. Place regular weekly update calls to seller to discuss marketing and pricing 108. Promptly enter price changes in the Local MLS Broker Marketplaces database
participating internet real estate sites
101. Price changes conveyed promptly to all internet groups 102. Reprint/supply brochures promptly as needed 103. Feedback e-mails sent to buyers’ agents after showings 104. Review weekly market study
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OFFERS
109. Receive and review all Offer to Purchase contracts submitted by buyers’ agents. 110. Evaluate offer(s) and prepare a net sheet for the owner for comparison purposes 111. Explain merits and weakness of each offer to sellers 112. Contact buyers’ agents to review buyer’s qualifications and discuss offer 113. Deliver Seller’s Disclosure to buyer upon request and prior to offer if possible. Upload to the Local MLS Broker Marketplaces additional documents at time of listing 114. Confirm buyer is pre-qualified by calling loan officer
115. Obtain buyers’ pre-qualification letter from loan officer if not submitted with offer 116. Negotiate all offers per seller’s direction on seller’s behalf, set time limit for loan approval and closing 117. Prepare and convey counteroffers, acceptance or amendments to buyer’s agent 118. Create excel spreadsheets for easy review on multiple bids 119. Email or send copies of contract and all addendum’s to the closing attorney or title company 120. When Offer to Purchase contract is accepted, deliver to buyer’s agent
CONTRACTS
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 lender 125. Provide copies of signed Offer to Purchase contract for office file 126. Advise seller of additional offers submitted between contract and closing
127. Change status in Local MLS Broker Marketplaces to Sale Pending 128. Update transaction management program to show Sale Pending 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
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INSPECTIONS
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 and buyer 136. Deliver Well Flow Test Report copies to lender and buyer, and property listing file 137. Verify termite inspection ordered 138. Verify mold inspection ordered, if required 139. Confirm verifications of deposit and buyer’s employment have been returned 140. Follow loan processing through to the underwriter 141. Add lender and other vendors to your 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
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HOME INSPECTIONS
148. Ensure seller’s compliance
144. Coordinate with seller for buyer’s professional home inspection 145. Review home inspector’s report 146. Enter completion into transaction management tracking program 147. Explain seller’s responsibilities, and recommend an attorney interpret any clauses in the contract
with Home Inspection Clause requirements 149. Assist seller with identifying contractors to perform any required repairs 150. Negotiate payment, and oversee all required repairs on seller’s behalf, if needed
THE APPRAISAL
151. Schedule appraisal 152. Provide to appraiser any comparable sales used in market pricing 153. Follow-up on appraisal
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PROCESSING FOR CLOSING
154. Enter completion into transaction management program 155. Assist seller in questioning appraisal report if it seems too low 156. Get contract signed by all parties 157. Coordinate closing process with buyer’s agent and lender 158. Update closing forms and files 159. Ensure all parties have all forms and information needed to close the sale 160. Select location where closing will be held 161. Confirm closing date and time, and notify all parties 162. Assist in solving any title problems or in obtaining death certificates 163. Work with buyer’s agent in scheduling buyer’s final walk-thru prior to closing 164. Double check all tax, homeowners’ association dues, utility, and applicable prorations 165. Request final closing figures from closing agent (attorney or title company)
166. Receive and carefully review closing figures to ensure accuracy of preparation 167. Confirm buyer and buyer’s agent have received title insurance commitment 168. Provide homeowners warranty for availability at closing 169. Forward closing documents to absentee seller as requested 170. Review documents with closing agent (attorney) 171. Coordinate closing with seller’s next purchase, and resolve any timing problems 172. Have a no-surprises closing so seller receives a net-proceeds check at closing 173. Refer sellers to one of the best agents at their destination, if applicable 174. Change Local MLS Broker Marketplaces status to Sold . Enter sale date, price, selling broker, etc.
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FOLLOW-UP AFTER CLOSING
175. Share the warranty paperwork for claims in the future 176. Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied 177. Respond to any calls and provide any information required from office files 178. If a rental, verify all deposits and prorated rents are reflected accurately on the closing statement
179. Close out listing in your management program
REALTORS ® are members of the National Association of REALTORS ® .
Print this out and use it in your listing presentation to show prospective sellers all that you do to earn your compensation.
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430 North Michigan Avenue | Chicago, IL 60611-4087 800.874.6500 | nar.realtor
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