Selling Your Real Estate Listing For Top Dollar Isn’t Magic. It’s Part Art, Part Science and Elephant Sized Hard Work. Here’s a Checklist To Keep You On Track

Thu, 21 Aug 2008 03:03:30 +0000

Getting a property SOLD take part art, part science and elephant sized hard work. Having a 192 point checklist can only help keep a challenging task on track. If you’re like me, your eyes will glaze and you’ll start to yawn at about number 42. No worries, you can always pick up where you left off.

Don’t worry, there won’t be a test. Results are revealed at the closing table.

Hope this helps pave the road.

192 Point “Getting Your Property SOLD for Top Dollar” Checklist.

	Pre-Listing Activities
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	Download and review property tax roll information	√
8	Prepare “Comparable Market Analysis” (CMA) to establish fair market value	√
9	Obtain copy of subdivision plat/complex lay-out	√
10	Research property’s ownership & deed type	√
11	Research property’s public record information for lot size and dimensions	√
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 proposal package with above materials and Tempo^TM information	√
17	Perform exterior “Curb Appeal Assessment” of subject property	√
18	Compile and assemble formal file on property	√
19	Confirm current public schools and explain impact of schools on market value	√
20	Review listing appointment checklist to ensure all steps and actions have been completed	√
	Listing Appointment Proposal and Master Marketing Plan
21	Explain different agency relationships and determine seller’s preference	√
22	Give seller an overview of current market conditions and projections	√
23	Review agent’s and company’s credentials and accomplishments in the market	√
24	Present company’s profile and position or “niche” in the marketplace	√
25	Present CMA Results To Seller, including Comparables, Solds, Current Listings & Expireds	√
26	Offer pricing strategy based on professional judgment and interpretation of current market conditions	√
27	Discuss goals with seller to market effectively	√
28	Explain market power and benefits of Multiple Listing Service	√
29	Explain market power of GaryGreene.com, Yahoo.com, Prudential.com, HAR.com, Realtor.com, KHOU.com, houstongarygreene.com, msn.houseandhome.com, WorldProperties.com, Homestore.com, aol.com, and other web sites around the world	√
30	Explain the work the brokerage and agent do “behind the scenes”and agent’s availability on weekends	√
31	Explain agent’s role in taking calls to screen for qualified buyers and protect seller from curiosity seekers	√
32	Present and discuss master marketing plan	√
33	Present and discuss the advantages the E-Leads Department plays in quick response to Internet leads.	√
34	Explain benefits of exclusive Gold Medallion Program	√
35	Review and explain all clauses in Listing Contract & Addendum and obtain seller’s signature	√

	Once Property Is Under Listing Agreement
36	Review current title information	√
37	Measure overall and heated square footage	√
38	Measure interior room sizes	√
39	Confirm lot size via owner’s copy of certified survey, if available	√
40	Note any and all unrecorded property lines, agreements, easements	√
41	Obtain house plans, if applicable and available	√
42	Review house plans and make copy	√
43	Order plat map info for retention in property’s listing file and to enter into MLS.	√
44	Prepare showing instructions for buyers’ agents and agree on showing time window with seller	√
45	Obtain current mortgage loan(s) information: companies and & loan account numbers	√
46	Verify current loan information with lender(s)	√
47	Check assumability of loan(s) and any special requirements	√
48	Discuss possible buyer financing alternatives and options with seller	√
49	Review current appraisal if available	√
50	Identify Home Owner Association manager if applicable	√
51	Verify Home Owner Association Fees with manager – mandatory or optional and current annual fee	√
52	Order copy of Homeowner Association bylaws, if applicable	√
53	Research electricity availability and supplier’s name and phone number	√
54	Calculate average utility usage from last 12 months of bills	√
55	Research and verify city sewer/septic tank system	√
56	Water System: Calculate average water fees or rates from last 12 months of bills	√
57	Well Water: Confirm well status, depth and output from Well Report	√
58	Natural Gas: Research/verify availability and supplier’s name and phone number	√
59	Verify security system, current term of service and whether owned or leased	√
60	Verify if seller has transferable Termite Bond	√
61	Ascertain need for lead-based paint disclosure	√
62	Prepare detailed list of property amenities and assess market impact	√
63	Prepare detailed list of property’s “Inclusions & Conveyances with Sale”	√
64	Compile list of completed repairs and maintenance items	√
65	Send “Vacancy Checklist” to seller if property is vacant	√
66	Explain benefits of 1^st American Residential Service Contract to seller	√
67	Assist sellers with completion and submission of 1^st American Residential Service Contract Application	√
68	When received, place 1^st American Service Contract in property file for conveyance at time of sale	√
69	Have extra key made for lockbox	√
70	Verify if property has rental units involved. And if so:	√
71	Make copies of all leases for retention in listing file	√
72	Verify all rents & deposits	√
73	Inform tenants of listing and discuss how showings will be handled	√
74	Arrange for installation of yard sign, applicable riders and Info Tube, if applicable	√
75	Assist seller with completion of Seller’s Disclosure form	√
76	“New Listing Checklist” Completed	√
77	Review results of Curb Appeal Assessment with seller and provide suggestions to improve salability	√
78	Review results of Interior Appeal Assessment and suggest changes to shorten time on market	√
79	Take 12 to 16 quality digital photos of the property for uploading to all web sites	√
80	Organize, coordinate, & design a creatively rich property detail profile on the property	√

	Entering Property In Multiple Listing Service Database
81	Prepare MLS Profile Sheet — Agents is responsible for “quality control” and accuracy of listing data		√
82	Enter property data from Profile Sheet into MLS Listing Database		√
83	Proofread MLS database listing for accuracy – including proper placement in mapping function		√
84	Add property to company’s Active Listings list and submit to E-Showings and or CSS for cooperative showings		√
85	E-mail seller link to Express Gallery Tour of the property, if applicable.		√
86	Provide seller with signed copies of Listing Agreement and MLS Profile Sheet Data Form within 48 hours		√
87	Take additional photos for upload into MLS and use in flyers; Schedule Office Tour of new listing		√
		Marketing The Listing
88		Create print and Internet ads and property detail profile and review with seller	√
89		Coordinate showings with owners, tenants, and other Realtors^®. Return all calls – weekends included	√
90		Install electronic lock box if authorized by owner and program with agreed-upon showing time windows	√
91		Respond to built-in Internet buyer network whose desired features match subject property	√
92		Prepare e-mail contact list of Top Agents having sold a home in the neighborhood in the last year. Include Sphere of Influence list and past customer list	√
93		Send targeted e-mail list a notification of new listing taken, with pictures and rich property detail	√
94		Order Quantummail.com “Just Listed” post cards & reports – sent directly to neighborhood	√
95		Prepare flyers & feedback faxes, if not on CSS	√
96		Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability	√
97		Prepare property marketing brochure for seller’s review	√
98		Arrange for printing or copying of supply of marketing brochures or fliers	√
99		Place marketing brochures in all company agent mail boxes	√
100		Upload listing to company and agent Internet site, if applicable	√
101		Company mails out additional 50 “Just Listed” notices	√
102		Advise Network Referral Program of listing	√
103		Provide marketing data to buyers coming through international relocation networks	√
104		Provide marketing data to buyers coming from referral network	√
105		Provide “Special Feature” cards for marketing, if applicable	√
106		Check listing on company’s participating Internet real estate sites	√
107		Price changes conveyed promptly to all e-mail marketing groups	√
108		Reprint/supply brochures promptly as needed	√
109		Loan information reviewed and updated in MLS as required	√
110		Feedback e-mails/faxes sent to buyers’ agents after showings	√
111		Review weekly Market Study	√
112		Discuss feedback from showing agents with seller to determine if changes will accelerate the sale	√
113		Place regular weekly update calls to seller to discuss marketing and pricing	√
114		Promptly submit price changes in MLS listing database	√

	The Offer And Contract
115	Receive and review all Offer to Purchase contracts submitted by buyers or buyers’ agents	√
116	Evaluate offer(s) and prepare a “net sheet” on each for the owner for comparison purposes	√
117	Counsel seller on offers. Explain merits and weakness of each component of each offer	√
118	Contact buyers’ agents to review buyer’s qualifications and discuss offer	√
119	Deliver Seller’s Disclosure to buyer’s agent or buyer upon request and prior to offer if possible	√
120	Confirm buyer is pre-qualified by calling Loan Officer	√
121	Obtain pre-qualification letter on buyer from Loan Officer	√
122	Negotiate all offers on seller’s behalf, setting time limit for loan approval and closing date	√
123	Prepare and convey any counteroffers, acceptance or amendments to buyer’s agent	√
124	Fax copies of contract and all addendums to title company	√
125	When an Offer to Purchase Contract is accepted and signed by seller, make 4 copies of signed offer for seller, buyer, buyer’ agent, Title Company and keep the original	√
126	Make 4 copies buyer’s earnest money check and keep original check for Title Company	√
127	Call Title Company for pick-up of contract and receive receipt	√
128	Deliver copies of fully signed Offer to Purchase contract to seller	√
129	Deliver copies of Offer to Purchase contract to Selling Agent	√
130	Fax or e-mail copies of Offer to Purchase contract to lender	√
131	Provide copies of signed Offer to Purchase contract for office file	√
132	Advise seller in handling additional offers to purchase submitted between contract and closing	√
133	Submit change of status of property in MLS	√
134	Update CSS of status of property	√
135	Review buyer’s credit report results — Advise seller of worst and best case scenarios	√
136	Provide credit report information to seller if property will be seller-financed	√
137	Assist buyer with obtaining financing, if applicable and follow-up as necessary	√
138	Coordinate with lender on Discount Points being locked in with dates	√
139	Deliver unrecorded property information to buyer such as “Information from other sources”, i.e. utilities to buyer.	√
140	Assist buyer with obtaining insurance for home/car/flood/life, etc.	√
141	Order septic system inspection, if applicable	√
142	Receive and review septic system report and assess any possible impact on sale	√
143	Deliver copy of septic system inspection report lender & buyer	√
144	Deliver Well Flow Test Report copies to lender & buyer and property listing file	√
145	Verify termite inspection ordered	√
146	Verify inspection ordered, if required	√

	Tracking The Loan Process
147	Confirm Verifications Of Deposit & buyer’s employment have been returned	√
148	Follow loan processing through to the underwriter	√
149	Add lender and other vendors to contact list so agents, buyer and seller can track progress of sale	√
150	Contact lender weekly to ensure processing is on track	√
151	Relay final approval of buyer’s loan application to seller	√

	Home Inspection
152	Coordinate buyer’s professional home inspection with seller	√
153	Review home inspector’s report	√
154	Enter completion into progress report	√
155	Explain seller’s responsibilities with respect to loan limits and interpret any clauses in the contract	√
156	Ensure seller’s compliance with Home Inspection Clause requirements	√
157	Recommend or assist seller with identifying and negotiating with contractors to perform any required repairs	√
158	Negotiate payment and oversee completion of all required repairs on seller’s behalf, if needed	√
	The Appraisal
159	Schedule Appraisal, if applicable	√
160	Provide comparable sales used in market pricing to Appraiser, if requested	√
161	Follow-up on Appraisal	√
162	Enter completion into progress report	√
163	Assist seller in questioning appraisal report if it seems too low	√
	Closing Preparations and Duties
164	Contract is signed by all parties	√
165	Coordinate closing process with buyer’s agent and lender	√
166	Update closing forms & files	√
167	Ensure all parties have all forms and information needed to close the sale	√
168	Select location where closing will be held	√
169	Confirm closing date and time and notify all parties	√
170	Assist in solving any title problems (boundary disputes, easements, etc) or in obtaining Death Certificates	√
171	Work with buyer’s agent in scheduling and conducting buyer’s Final Walk-Thru prior to closing	√
172	Research all tax, HOA, utility and other applicable pro-rations	√
173	Request final closing figures from closing agent (attorney or title company)	√
174	Receive & carefully review closing figures to ensure accuracy of preparation	√
175	Forward verified closing figures to buyer’s agent	√
176	Request copy of closing documents from closing agent	√
177	Confirm buyer and buyer’s agent have received title insurance commitment	√
178	Provide 1st American Residential Service Contract for availability at closing	√
179	Reviews all closing documents carefully for errors	√
180	Forward closing documents to absentee seller as requested	√
181	Review documents with closing agent	√
182	Verify earnest money deposit check cleared from closing agent	√
183	Coordinate this closing with seller’s next purchase and resolve any timing problems	√
184	Have a “no surprises” closing and present seller a net proceeds check at closing	√
185	Refer sellers as Outgoing Referral to Corporate Relocation Department at their destination, if applicable	√
186	Change MLS listing status to Sold. Enter sale date and price, selling broker and agent’s ID numbers, etc	√
187	Close out listing in all appropriate files	√

	Follow Up After Closing
188	Call client to make sure he experienced a smooth move and to execute an post closing needs he may have	√
189	Submit physical address and/or e-mail address of client for follow-up survey on customer satisfaction	√
190	Answer questions about filing claims with 1^st American Service Contract, if requested	√
191	Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied	√
192	Respond to any follow-on calls and provide any additional information required from office files	√

“““““““““““““““““““““““““““““““““

Hope this helps. Need more, have questions, comments, concerns or recommendations? Give me a call: Ken Brand 832-797-1779

Brand Candid - Less Blah Blah More Ah Ha. » Selling Real Estate

Selling Your Real Estate Listing For Top Dollar Isn’t Magic. It’s Part Art, Part Science and Elephant Sized Hard Work. Here’s a Checklist To Keep You On Track

Pre-Listing Activities

Listing Appointment Proposal and Master Marketing Plan

Once Property Is Under Listing Agreement

Entering Property In Multiple Listing Service Database

Marketing The Listing

The Offer And Contract

Tracking The Loan Process

Home Inspection

The Appraisal

Closing Preparations and Duties

Follow Up After Closing