The most important question to ask yourself before asking your REALTOR® to reduce their commission is, If my REALTOR^® is willing to lower their commission & give away their own money so quickly, how will they negotiate on my behalf with MY money?

1. Make appointment with seller for listing presentation.
2. Send seller a written or e-mail confirmation of listing appointment and call to confirm.
3. Review pre-appointment questions.
4. Research all comparable currently listed properties.
5. Research sales activity for past 18 months from MLS and public records databases.
6. Research “Average Days on Market” for this property of this type, price range and location.
7. Prepare “Comparable Market Analysis” (CMA) to establish fair market value.
8. Research property’s ownership & deed type.
9. Research property’s public record information for lot size & dimensions.
10. Research and verify legal description.
11. Research property’s land use coding and deed restrictions.
12. Research property’s current use and zoning.
13. Verify legal names of owner(s) in county’s public property records.
14. Prepare listing presentation package with above materials.
15. Perform exterior “Curb Appeal Assessment” of subject property.
16. Compile and assemble formal file on property
17. Confirm current public schools and explain impact of schools on market value.
18. Review listing appointment checklist to ensure all steps and actions have been completed.

Listing Appointment Presentation

21. Give seller an overview of current market conditions and projections.
22. Review agent’s and company’s credentials and accomplishments in the market.
23. Present company’s profile and position or “niche” in the marketplace.
24. Present CMA results to seller, including comparables, solds, current listings, and expireds.
25. Offer pricing strategy based on professional judgment and interpretation of current market conditions.
26. Discuss goals with seller to market effectively.
27. Explain market power and benefits of Multiple Listing Service.
28. Explain market power of web marketing, IDX, and REALTOR.com.
29. Explain the work the brokerage and agent do “behind the scenes” and agent’s availability on weekends.
30. Explain agent’s role in taking calls to screen for qualified buyers and protect seller from curiosity seekers.
31. Present and discuss strategic master marketing plan.
32. Explain different agency relationships and determine seller’s preference.
33. Review and explain all clauses in listing contract and addendum. Obtain seller’s signature once property is under listing agreement.
34. Review current title information.
35. Note any and all unrecorded property lines, agreements, easements.
36. Obtain house plans, if applicable and available.
37. Prepare showing instructions for buyers’ agents and agree on showing time window with seller.
38. Obtain current mortgage loan(s) information: companies and & loan account numbers.
39. Verify current loan information with lender(s).
40. Check assumability of loan(s) and any special requirements.
41. Discuss possible buyer financing alternatives and options with seller.
42. Identify homeowner association manager, if applicable.
43. Research electricity availability and supplier’s name and phone number.
44. Calculate average utility usage from last 12 months of bills.
45. Research and verify city sewer/septic tank system.
46. Water System: Calculate average water fees or rates from last 12 months of bills.
47. Well Water: Confirm well status, depth, and output from well report,
48. Natural Gas: Research/verify availability and supplier’s name and phone number,
49. Verify security system, current term of service, and whether owned or leased.
50. Verify if seller has transferable termite warranty.
51. Ascertain need for lead-based paint disclosure.
52. Prepare detailed list of property amenities and assess market impact.
53. Prepare detailed list of property’s “Inclusions & Conveyances with Sale.”
54. Compile list of completed repairs and maintenance items.
55. Send “Vacancy Checklist” to seller if property is vacant.
56. Explain benefits of homeowner warranty to seller.
57. Assist sellers with completion and submission of homeowner warranty application.
58. When received, place homeowner warranty in property file for conveyance at time of sale.
59. Have extra key made for lockbox.
60. Verify if property has rental units involved. And if so:
    •  Make copies of all leases for retention in listing file.
    •  Verify all rents & deposits.
    •  Inform tenants of listing and discuss how showings will be handled.
61. Arrange for installation of yard sign.
62. Assist seller with completion of seller’s disclosure form.
63. Review results of Curb Appeal Assessment with seller and provide suggestions to improve salability shorten time on market.
64. Load listing into transaction management software program. (Agent Cost)

Entering Property in Multiple Listing Service Database

78. Prepare MLS Profile Sheet. (Agent is responsible for “quality control” and accuracy of listing data.)
79. Enter property data from Profile Sheet into MLS Listing Database.
80. Add property to company’s Active Listings list.
81. Provide seller with signed copies of Listing Agreement and MLS Profile Sheet Data Form within 48 hours.
82. Take additional photos for upload into MLS to use in advertising. (Out of Pocket cost to Agent)

Marketing The Listing 

84. Create print and Internet ads with seller’s input.
85. Coordinate showings with owners, tenants, and other REALTORS®. Return all calls, weekends included.
86. Install electronic lock box if authorized by owner. Program with agreed-upon showing time windows.
87. Prepare mailing and contact list.
88. Generate mail-merge letters to contact list.
89. Order “Just Listed” labels and reports. (Out of Pocket cost to Agent)
90. Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions, and availability.
91. Prepare property marketing brochure for seller’s review.
92. Arrange for printing or copying of supply of marketing brochures or flyers. (Out of Pocket cost to Agent)
93. Upload listing to company and agent Internet site, if applicable.
94. Mail out “Just Listed” notice to all neighborhood residents.
95. Advise Network Referral Program of listing.
96. Provide marketing data to buyers coming through international relocation networks.
97. Provide marketing data to buyers coming from referral network .
98. Provide “Special Feature” cards for marketing, if applicable.
99. Submit ads to company’s participating Internet real estate sites. (Out of Pocket cost to Agent)
100. Price changes conveyed promptly to all Internet groups.
101. Reprint/supply brochures promptly as needed. (Out of Pocket cost to Agent)
102. Loan information reviewed and updated in MLS as required.
103. Feedback e-mails/faxes sent to buyers’ agents after showings. (Program Cost To Agent)
104. Discuss feedback from showing agents with seller to determine if changes will accelerate the sale.
105. Place regular weekly update calls to seller to discuss marketing & pricing.
106. Promptly enter price changes in MLS listing database.

The Offer and Contract 

110. Receive and review all Offers submitted by buyers or buyers’ agents.
111. Evaluate offer(s) and prepare a “net sheet” on each for the owner for comparison purposes.
112. Counsel seller on offers. Explain merits and weakness of each component of each offer.
113. Contact buyers’ agents to review buyer’s qualifications and discuss offer.
114. Fax/e-mail/deliver Seller’s Disclosure to buyer’s agent or buyer upon request and prior to offer if possible.
115. Confirm buyer is pre-qualified by calling Loan Officer .
116. Negotiate all offers on seller’s behalf, setting time limit for loan approval and closing date.
117. Prepare and convey any counteroffers, acceptance or amendments to buyer’s agent.
118. E-mail/fax copies of contract and all addendums to seller and title company.
119. Confirm buyer’s earnest money is in escrow account.
120. E-mail/fax copies of Offer to Purchase contract to lender.
121. Provide copies of signed Offer to Purchase contract for office file.
122. Advise seller in handling additional offers to purchase submitted between contract and closing.
123. Change status in MLS to “Sale Pending.”
124. Update transaction management program to show “Sale Pending.”
125. Order septic system inspection, if applicable.
126. Receive and review septic system report and assess any possible impact on sale.
127. Deliver copy of septic system inspection report lender and buyer.
128. Deliver Well Flow Test Report copies to lender and buyer and property listing file.

Tracking the Loan Process

141. Confirm verifications of deposit  and buyer’s employment have been returned.
142. Follow loan processing through to the underwriter.
143. Add lender and other vendors to transaction management program so agents, buyer, and seller can track progress of sale.
144. Contact lender weekly to ensure processing is on track.
145. Relay final approval of buyer’s loan application to seller.

Home Inspection

146. Coordinate buyer’s professional home inspection with seller.
147. Enter completion into transaction management tracking software program.
148. Explain seller’s responsibilities with respect to loan limits and interpret any clauses in the contract.
149. Ensure seller’s compliance with Home Inspection Clause requirements.
150. Recommend or assist seller with identifying and negotiating with trustworthy contractors to perform any required repairs.
151. Negotiate payment and oversee completion of all required repairs on seller’s behalf, if needed.

The Appraisal

153. Schedule home access for appraisal.
154. Provide comparable sales used in market pricing to appraiser.
155. Follow-up on appraisal.
156. Enter completion into transaction management program.
157. Assist seller in questioning appraisal report if it seems too low.

Closing Preparations and Duties

158. Coordinate closing process with buyer’s agent and lender and separate time with seller.
159. Update closing forms and files.
160. Ensure all parties have all forms and information needed to close the sale.
161. Confirm closing date and time and notify all parties.
162. Assist in solving any title problems (boundary disputes, easements, etc) or in obtaining death certificates.
163. Work with buyer’s agent in scheduling and conducting buyer’s final walk-thru prior to closing.
164. Request final closing figures from closing agent.
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. Review 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 this closing with seller’s next purchase and resolve any timing problems.
175. Have a “no surprises” closing so that 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, and agent’s ID numbers, etc.
178. Close out listing in transaction management program.

Follow Up After Closing

182. Answer questions about filing claims with homeowner warranty company, if requested.
183. Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied.
184. Respond to any follow-on calls and provide any additional information required from office files.