199 Things REALTORS® Do To Earn Their Compensation.

Here's a look at all the things (big and small) that I do for you as a REALTOR® to help when selling a home. I hope this helps you understand that every penny is earned. This list will help explain just some of the things that are done to help you sell.

PRE-LISTING ACTIVITIES

Make an appointment with Seller Prospect for a listing presentation
Send Seller Prospect a written or e-mail confirmation of the listing appointment and call to confirm
Review property tax roll information
Obtain a copy of the subdivision plat/complex layout
Research property’s ownership & deed type
Research property’s public record information for lot size & dimensions
Research and verify legal description
Research property’s land use coding and deed restrictions
Research the property’s current use and zoning
Verify legal names of owner(s) in the county’s public property records
Request septic information (if needed)
Review road maintenance status
Review the Department of Transportation project list within the subject property’s radius
Review floodplain status
Add Seller Prospect to Altos Research
Add Seller Prospect to the database and update notes
Review pre-appointment questions
Research all comparable currently listed properties
Research all comparable properties listed as under contract
Research closed sales activity for past 18 months from MLS and public records databases
Research market timing for a property of this type, price range and location
Perform exterior curb appeal assessment of subject property (google earth or drive-by)
Prepare Comparable Market Analysis (CMA) to establish market value range
Prepare Seller Prospect’s net proceeds estimate within market value range
Prepare listing presentation folder/PDF with above materials
Add current and previous marketing samples to listing presentation folder
Confirm current public school assignments and available private/charter/home-school options in the subject’s radius
Prepare listing paperwork, print, and PDF
Compile and assemble formal office files on the property
Review the listing appointment checklist to ensure all steps and actions have been completed
LISTING APPOINTMENT PRESENTATION
Tour the property with the owner
Create a master list of areas in need of improvement/upgrade and special marketing items
Review the “Working with Real Estate Agents” brochure and obtain a signature
Present the company’s profile and position or “niche” in the marketplace
Review agent’s and company’s credentials and accomplishments in the market
Give Seller Prospect an overview of current market conditions and projections
Present CMA results to Seller Prospect, including all Comparables: Sold properties, Under contract properties, Currently available properties, and those which failed to sell
Offer pricing strategy based on professional judgment, interpretation of current market conditions, and Seller Prospect’s goals
Go over Seller Prospect’s net proceeds sheet in detail
Solicit marketing feedback and ideas from the property owner for optimal marketing messaging
Explain the market power and benefits of Multiple Listing Service
Explain the power of local and national relationships with fellow REALTORS and marketing to those groups
Explain the marketing plan and Internet presence, IDX, REALTOR.com, and social media
Present and discuss the strategic master marketing plan
Explain how showings work locally and set expectations
Discuss Seller Prospect safety while on market
Explain what agents do with time between showings and offers
Explain the agent’s role in screening for qualified buyers in order to protect Seller Prospect from non-serious callers
Explain different agency relationships and determine Seller Prospect’s preference
Review and explain all clauses in an exclusive right to sell document and obtain Seller Prospects’ signatures
Determine if the property will be marketed as ‘Coming Soon’ status
ONCE PROPERTY IS UNDER LISTING AGREEMENT
Order staging consultation (if needed)
Review results of curb appeal assessment with Seller Prospect and provide suggestions to improve saleability
Review results of interior assessment and suggest necessary repairs or upgrades
Set follow-up visit for post-staging
Order home measure to most accurately determine heated living area
Order professional listing photos
Order professional drone video
Order preliminary title to find out any issues in advance
Measure interior room sizes
Confirm lot size via owner’s copy of certified survey, if available
Note any and all unrecorded property lines, agreements, easements
Obtain house plans, if applicable and available
Order plat map for retention in property’s listing file (if separate from deed previously obtained)
Prepare showing instructions for buyers’ agents
Obtain current mortgage loan(s) information: companies and & loan account numbers (if needed)
Verify current loan information with lender(s) (if applicable)
Check Assumability of loan(s) and any special requirements
Discuss possible buyer financing alternatives and options with Seller Prospect
Review current appraisal if available
Identify Home Owner Association manager if applicable
Verify Home Owner Association Fees with the manager — mandatory or optional, current annual fee, any pending or confirmed assessments
Order copy of Homeowner Association bylaws, if applicable
Obtain a copy of CCRs if applicable
Obtain utility providers
Obtain average utility usage over previous 12 months
Research and verify water and sewer availability
City/Town Water System, verify averages. If available and not tapped, verify tap fees
Well Water: Confirm well status, depth, and output from Well Report. Obtain the last inspection report if available
Natural Gas: Research/verify availability and supplier’s name and phone number
Electricity: obtain the supplier’s name
Verify security system, current term of service, and whether owned or leased
Verify if Seller Prospect has a transferable wood-destroying insect bond
Ascertain the need for lead-based paint disclosure
Prepare a detailed list of property amenities and assess the market impact
Prepare a detailed list of any personal property included or negotiable
Compile a list of completed repairs and maintenance items
Send “Vacancy Checklist” to Seller Prospect if the property is vacant
Explain the benefits of a Home Warranty to Seller Prospect
Place Home Warranty order
Arrange for installation of yard sign and lock-box
Have an extra key made for the lock-box
Verify if the property has rental units involved. And if so:
a.) Make copies of all leases for retention in the listing file
b.) Verify all rents & deposits
Place P&L and T12 in the listing file
a.) Inform tenants of the listing and discuss how showings will be handled
Answer questions regarding the completion of a residential property disclosure form
Answer questions regarding the completion of the mineral, oil, and gas rights disclosure form
"New Listing Checklist" Completed
Load listing into transaction management software program
Provide Seller Prospect with copies of all executed paperwork
Provide name and information for a top real estate agent in Seller Prospects’ destination if needed
ENTERING PROPERTY IN MULTIPLE LISTING SERVICE (MLS) DATABASE
Prepare MLS Profile Sheet — Agents is responsible for quality control and accuracy of listing data
Enter property data from Profile Sheet into MLS Listing Database
Add all supporting documentation to the MLS database
Set up ShowingTime instructions
Provide property owner with tips for best showings
Proofread MLS database listing for accuracy — including proper placement in mapping function
If the property is marketed as ‘coming soon’, add marketing dates to calendars
Add property to the internal company inventory list
Provide Seller Prospect with MLS listing information for verification of data input
Lender partner to create financing flyer/data for property along with special programs available
MARKETING THE LISTING
Prepare a property marketing brochure for Seller Prospect review
Print and deliver property marketing brochure before showings commence
Create a website listing
Create social media ads for placement on Facebook, Instagram, Pinterest, and TikTok
Create a ‘just listed’ postcard for geographic distribution
Distribute listing information cards to neighboring properties
Prepare listing announcement for fellow real estate agents active in the area
Coordinate open house dates and marketing
Contact agents through reverse prospecting in MLS
Upload listing to company and agent websites
Provide property brochure to buyers coming through international relocation networks
Provide property brochure to buyers coming from referral network
Solicit feedback after each showing, provide information to the owner
Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions, and availability
Prepare weekly market update
Place regular weekly update calls to Seller Prospect to discuss marketing & pricing
Promptly enter price changes in the MLS listing database
Price changes conveyed promptly to all websites and services
Contact all previous showings with price changes and updates
Reprint/supply brochures promptly as needed
THE OFFER AND CONTRACT
Receive and review all Offers to Purchase submitted by buyers and buyers’ agents.
Evaluate offer(s) and prepare a Seller Prospect’s net proceeds sheet on each for comparison purposes
Contact buyers’ agents to review buyer’s qualifications and discuss the offer
Confirm the buyer is pre-approved by calling Loan Officer
Obtain pre-approval letter on buyer from Loan Officer
Counsel Seller Prospect on offers. Explain the merits and weaknesses of each component of each offer
Negotiate all offers on Seller Prospect’s behalf
Prepare and convey any counteroffers, acceptance or amendments to the buyer’s agent in writing
When the Offer to Purchase is accepted and signed by Seller Prospect, deliver to the buyer’s agent
Confirm receipt of the signed contract by all parties
Delivery information for due diligence deposit conveyed to buyer agent
Confirm acceptance of due diligence deposit
Confirm acceptance and deposit of earnest money with an escrow agent
Update the status of the property in the MLS
Deliver a copy of the Offer to Purchase contract to the lender if needed
Provide copies of signed Offer to Purchase for office file
Advise Seller Prospect in handling additional offers to purchase submitted between contract and closing
Update transaction management program to show “Sale Pending”
Provide credit report information to Seller Prospect if the property will be seller-financed
Obtain signed Bill of Sale for personal property if applicable
Confirm inspection dates with the buyer’s agent
Verify termite inspection ordered if required
Verify fungal growth inspection ordered if required
Verify survey ordered if required
Receive and review inspection reports and assess any possible impact on the sale
TRACKING THE LOAN PROCESS
Confirm Verifications Of Deposit & Buyer’s Employment (VOE) Have Been Returned
Follow Loan Processing Through To The Underwriter
Add lender and other vendors to the transaction management program
Agents, buyer and Seller Prospect can track the progress of the sale
Contact lender weekly to ensure processing is on track
Relay final approval of buyer’s loan application to Seller Prospect
HOME INSPECTION
Coordinate buyer’s professional home inspection with Seller Prospect
Review the home inspector’s report
Enter completion into transaction management tracking software program
Explain Seller Prospect’s responsibilities with respect to loan limits and refer questions about any clauses in the contract to the closing attorney
Ensure Seller Prospect’s compliance with loan or repair requirements
Recommend or assist Seller Prospect with identifying and negotiating with trustworthy contractors to perform any negotiated repairs
THE APPRAISAL
Schedule Appraisal
Provide comparable sales and all market data used in market pricing to Appraiser
Follow-Up On Appraisal
Enter completion into the transaction management program
Assist Seller Prospect in questioning appraisal report if the appraisal does not support the contract price
CLOSING PREPARATIONS
Contract signed by all parties
Coordinate closing process with buyer’s agent and lender
Update closing forms & files
Have Seller Prospect complete seller information forms and payoff information as needed
Ensure all parties have all forms and information needed to close the sale
Notify as to the location where closing will be held
Confirm closing date and time and notify all parties
Assist in solving any title problems (boundary disputes, easements, etc.) or in obtaining death certificates
Work with the buyer’s agent in scheduling and conducting the buyer’s final walk-thru prior to the closing
Request final closing figures from the closing agent (attorney or title company)
Receive & carefully review closing figures to ensure accuracy of preparation
Double-check tax prorations and HOA fees upon receipt of closing date
Request a copy of closing documents from closing agent
Confirm buyer and buyer’s agent have received the title insurance commitment
Provide Warranty for availability at closing
Review all closing documents carefully for errors
Forward closing documents to absentee Seller Prospect (as needed)
Review documents with the closing agent
Coordinate this closing with Seller Prospect’s next purchase and resolve any timing problems
Have a “no surprises” closing so that Seller Prospect is notified about the availability of proceeds
Determine availability and delivery of keys/garage door openers
Closing gift delivery
Update MLS status to Sold. Enter the sale date, price, selling broker and agent’s ID numbers, etc.
Close out listing in transaction management program
Remove listing photos from marketing websites and photographer inventory
FOLLOW UP AFTER CLOSING
Answer questions about filing claims with Home Owner Warranty company if requested
Attempt to clarify and resolve any conflicts about repairs if the buyer is not satisfied

199 Things REALTORS® Do To Earn Their Compensation.

PRE-LISTING ACTIVITIES

LISTING APPOINTMENT PRESENTATION

ONCE PROPERTY IS UNDER LISTING AGREEMENT

ENTERING PROPERTY IN MULTIPLE LISTING SERVICE (MLS) DATABASE

MARKETING THE LISTING

THE OFFER AND CONTRACT

TRACKING THE LOAN PROCESS

HOME INSPECTION

THE APPRAISAL

CLOSING PREPARATIONS

FOLLOW UP AFTER CLOSING