Selling Your Home

There is a lot that goes into selling a home. It’s more than most people realise and it can be quite daunting (if you don’t do it every day). You have been through home buying process at least once since you own a home, but if you are getting ready to sell, now you get to experience the process from the other side of the transaction!

There are still a lot of things that you need to do to get your home ready to sell, after it is on the market and when an offer comes in.  We are here to help guide you through this process and make it as smooth and enjoyable as possible. When you hire an agent to represent you it is important to make sure the agent you choose is a good match for you and your needs, as well as making sure that the agent you choose is up for the job.  We put together a home seller's guide that goes over the basic process and what is involved in selling your home. Click the link to download it today.

A lot of what a listing agent does for you may not be seen. Although they should be in contact with you to let you know what is happening, you may not realize what they actually do for you. Below is a list of the 184 things that an agent will do

Pat Vredevoogd-Combs, past president of the National Association of REALTORS, testified before the House Financial Services Committee on Housing to blunt government complaints about industry pricing.

“By all accounts,’ she said, ”the general public is not aware of all the services that agents provide to sellers and buyers during the course of the transaction, probably because most of the important services are performed behind the scenes.”

As part of her testimony, she submitted a list of 184 things that listing agents do in every real estate transaction. This list has been modified to reflect updates and additions and broken down into categories. This list also does not include the numerous amount of hours spent on the phone with the seller early morning or late evening and weekends being a confidant, therapist and friend. Along with hours on the phone and emails back and forth with agents and potential buyers.

Pre-Listing Activities

1. Make appointment with seller for listing presentation
2. Send a written or e-mail confirmation of appointment and call to confirm
3. Review appointment questions
4. Research all comparable currently listed properties
5. Research sales activity for past 6 months from MLS and public database.
6. Research “average days on market” for properties similar in type, price, and location
7. Download and review property tax roll information
8. Prepare “comparable market analysis” (CMA) to establish market value
9. Obtain copy of subdivision plat/complex layout
10. Research property’s ownership and deed type
11. Research property’s public record information for lot size and dimensions
12. Verify legal description
13. Make adjustments based on over the phone discussed upgrades
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 and assemble formal file on property
19. Confirm current public schools
20. Review listing appointment checklist to ensure completion of all tasks

Listing Appointment Presentation

1. Give seller an overview of current market conditions and projections
2. Review agent and company credentials and accomplishments
3. Present company’s profile and position or “niche” in the marketplace
4. Present CMA results, including comparables, solds, current listings, and expired listings
5. Offer professional pricing strategy based and interpretation of current market conditions
6. Discuss goals to market effectively
7. Explain market power and benefits of multiple listing service.
8. Explain market power of Web marketing, IDX, Social Media presence
9. Explain the work the broker and agent do “behind the scenes” and agent’s availability on weekends
10. Explain agent’s role in screening qualified buyers to protect against curiosity seekers
11. Present and discuss strategic master marketing plan
12. Explain agency relationship
13. Review all clauses in listing contract and obtain seller’s signature

After Listing Agreement Is Signed

1. Order Photos, Videos
2. Give seller home staging tips
3. Receive interior room sizes to input in to MLS
4. Confirm lot size via owner’s copy of certified survey, if available
5. Note any and all unrecorded property lines, agreements, easements
6. Obtain house plans, if applicable and available
7. Review house plans & make copy if available
8. Create flyers
9. Prepare showing instructions for buyers’ agents and agree on showing time with seller
10. Obtain current mortgage loan(s) information, companies, and account numbers
11. Verify current loan information with lender(s)
12. Check assumability of loan(s) and any special requirements
13. Discuss possible buyer financing alternatives and options with seller
14. Review current appraisal if available
15. Identify Home Owner Association manager if applicable
16. Verify Home Owner Association fees with manager-mandatory or optional and current annual fee
17. Order copy of Home Owner Association bylaws, if applicable
18. Research electricity availability and supplier’s name and phone number
19. Obtain average utility usage from seller of last 12 months of bills
20. Research and verify city sewer/septic tank system
21. Receive Seller’s Property Disclosure and upload
22. Obtain from seller waterfront restrictions
23. Research/verify natural gas availability, supplier’s name and phone number
24. Verify security system, term of service and whether owned or leased
25. Verify if seller has transferable Termite Bond
26. Ascertain need for lead-based paint disclosure
27. Prepare detailed list of property amenities
28. Prepare detailed list of property’s “Inclusions & Conveyances with Sale”
29. Complete list of completed repairs and maintenance items
30. Order virtual staging for vacant homes
31. Explain benefits of Home Owner Warranty to seller
32. Review with seller potential repairs necessary for financing
33. When received, place Home Owner Warranty in property file for conveyance at time of sale
34. Have extra key made for lockbox
35. Verify if property has rental involved, and if so-
36. Make copies of all leases for retention in listing file
37. Verify all rents and deposits
38. Inform tenants of listing and discuss how showings will be handled
39. Arrange for yard sign installation
40. Arrange for lockbox installation
41. Complete “new listing checklist”
42. Receive seller “homework packet”
43. Attend photo shoots and stage more if necessary
44. Enter Coming soon on Facebook

Entering Property in MLS Database

1. Prepare MLS Profile Sheet-agent is responsible for quality control and accuracy of listing data
2. Enter property data from Profile Sheet into MLS listing database
3. Proofread MLS database listing for accuracy including property placement in mapping function
4. Add property to company’s Active Listings
5. Provide seller with signed copies of Listing Agreement and MLS Profile Data Form within 48 hours
6. Upload photos and arrange in specified order, upload videos, virtual tours
7. Upload documents for potential buyers ( seller’s disclosure, HOA, Feature sheet, etc)

Marketing the Listing

1. Write description for the property
2. Coordinate showings with owners, tenants, and other agents. Return all calls-weekends included
3. Program showing instructions per seller needs
4. Prepare mailing and contact list
5. Generate mail-merge letters to contact list
6. Order “Just Listed” postcards and marketing
7. Prepare Open House Flyers
8. Enter Open house dates in MLS and websites
9. Pass out door hangers to neighbors for open house
10. Door knock neighbors to invite to open house
11. Prepare Open House Marketing
12. Post Open House on Social Media
13. Place Open House signs out the night before or morning of
14. Host Open house 2-3 hours on Saturday or Sunday
15. After Open House is complete, pick up all signs
16. Follow Up with Open House visitors
17. Prepare property marketing brochure for seller’s review
18. Arrange for printing or copying of supply of marketing brochures or flyers
19. Reverse prospect for agents that have potential buyers
20. Upload listing to company and agent Internet sites, if applicable
21. Mail “Just Listed’ notice to all neighborhood residents
22. Upload videos to YouTube
23. Provide marketing data updates
24. Respond to Buyer inquiries from websites
25. Ensure Buyers are pre approved
26. Show potential buyers the property
27. Convey price changes promptly to all Internet groups
28. Reprint/supply brochures promptly as needed
29. Review and update loan information in MLS as required
30. Send feedback e-mails to buyers’ agents after showings
31. Review weekly Market Study
32. Discuss feedback from showing agents with seller to determine if changes will accelerate the sale
33. Place regular weekly update calls to seller to discuss marketing and pricing
34. Promptly enter price changes in MLS listing database

The Offer and the Contract

1. Receive and review all Offer to Purchase contracts submitted by buyers or buyers’ agents
2. Evaluate offer(s) and prepare “net sheet” on each for owner to compare
3. Counsel seller on offers. Explain merits and weakness of each component of each offer
4. Contact buyers’ agents to review buyer’s qualifications and discuss offer
5. Deliver Seller’s Disclosure to buyer’s agent or buyer upon request and prior to offer if possible
6. Confirm buyer is pre-approved by calling loan officer
7. Obtain pre-approval letter on buyer from loan officer
8. Negotiate all offers on seller’s behalf, setting time limit for loan approval and closing date
9. Prepare and convey any counteroffers, acceptance or amendments to buyer’s agent
10. Send copies of contract and all addendums to closing attorney or title company
11. When Offer-to-Purchase contract is accepted and signed by seller, deliver to buyer’s agent
12. Record and promptly deposit buyer’s money into escrow account
13. Change MLS to reflect Under Contract
14. Deliver copies of executed Offer to Purchase contract to sellers
15. Deliver copies of executed Offer to Purchase contract to selling agent
16. Deliver copies of executed Offer to Purchase contract to lender
17. Provide copies of executed Offer to Purchase contract for office file
18. Advise seller in handling additional offers to purchase submitted between contract and closing
19. Update seller on next steps
20. Send copies of executed offer to purchase contract to Transaction Manager

Tracking the Loan Process

1. Confirm verifications of deposit
2. Follow loan processing through to the underwriter
3. Add lender and other vendors to transaction management program so agents, buyer, and seller can track progress of sale
4. Contact lender weekly to ensure processing is on track
5. Relay final approval of buyer’s loan application to seller

Home Inspection

1. Coordinate buyer’s professional home inspection with seller
2. Review home inspector’s report
3. Receive and review septic system report and access any impact on sale
4. Deliver copy of septic system inspection report if applicable
5. Deliver WDO report to seller
6. Verify well water test if needed
7. Upload reports into transaction management system
8. Enter completion into transaction management system
9. Negotiate repairs
10. Explain to seller what could be lender required repair
11. Ensure seller’s compliance with home inspection clause requirements
12. Assist seller with identifying and negotiating with trustworthy contractors for required repairs
13. Negotiate payment and oversee completion of all required repairs on seller’s behalf if needed

The Appraisal

1. Schedule appraisal
2. Provide comparable sales used in market pricing to appraiser
3. Provide upgrades, dates and costs to appraiser
4. Enter completion into transaction management program
5. Follow up with lender for appraisal results
6. Assist seller in questioning appraisal report if it seems too low
7. Provide more comps to fight low appraisal if necessary
8. Address with seller any noted necessary repairs on appraisal

Closing Preparations and Duties

1. Make sure repairs are completed
2. Send any open invoices to closing attorney or title company
3. Order new home warranty if necessary
4. Coordinate buyer final walk through with seller
5. Coordinate closing date with seller, buyer’s agent, lender and title
6. Update closing forms and files
7. Ensure all parties have all forms and information needed to close the sale
8. Select location for closing
9. Confirm closing date and time and notify all parties
10. Ensure survey has been ordered and available
11. Work with buyer’s agent in scheduling and conducting buyer’s final walkthrough prior to closing.
12. Request any seller product paperwork
13. Request final closing figures from closing agent (attorney or title company)
14. Receive and carefully review closing figures to ensure accuracy
15. Forward verified closing figures to buyer’s agent
16. Request copy of closing documents from closing agent
17. Attend Closing
18. Provide “Home Owners Warranty’· for availability at closing
19. 173 Review ail closing documents carefully for errors
20. Forward closing documents to absentee seller as requested
21. Present closing gift
22. Provide earnest money deposit from escrow account to closing agent
23. Coordinate closing with seller’s next purchase, resolving timing issues
24. Have a “no surprises” closing so that seller receives a net proceeds check at closing
25. Refer sellers to one of the best agents at their destination, if applicable
26. Change MLS status to Sold. Enter sale date, price, selling broker, and agent’s ID numbers, etc.
27. Close out listing in transaction management program
28. Prepare Just Sold post cards to mail out to neighbors
29. Prepare Just Sold to social media
30. Pick up sign and lockbox