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Curious about what a Listing Agent does for a home seller?  Wondering why selling commission are so high?  There are hundreds of duties agents perform when listing and selling a home and many hours of work involved to complete them all!  Some tasks are more time intensive and take hours to perform while other may be a simple phone call.  Some tasks also cost the agent money - money that is spent whether the home sells or not.


Pre-Listing Activities

1. Make appointment with seller for listing presentation.
2. Send a written or e-mail confirmation of appointment and/or call to confirm.
3. Review appointment questions.
4. Research all comparable currently listed properties.
5. Research sales activity for past 12+ months from MLS and public databases.
6. Research “average days on market” for properties similar in type, price and location.
7. Review property tax information.
8. Prepare “comparable market analysis” (CMA) to establish market value.
9. Verify legal names of owner(s) in county’s public property records.
10. Research property’s ownership and deed type.
11. Research property’s public record information for lot size and dimensions and/or obtain copy of subdivision plat/complex layout.
12. Verify legal description.
13. Research property’s land use coding and deed restrictions.
14. Research property’s current use and zoning.
15. Research location drawbacks and benefits
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 and explain their impact on market value.
20. Review listing appointment checklist to ensure completion of all tasks.
 
Listing Appointment Presentation
21. Explain different agency relationships and determine seller’s preference.
22. Review agent and company credentials and accomplishments.
23. Present company’s profile and position or “niche” in the marketplace.
24. Present CMA results, including comparables, solds, current listings and expireds.
25. Offer professional pricing strategy based and interpretation of current market conditions.
26. Discuss goals to market effectively.
27. Explain market power and benefits of MLS (multiple listing service).
28. Explain market power of Web marketing, IDX and the "big three".
29. Explain the work the broker and agent do “behind the scenes” and agent’s availability.
30. Explain agent’s role in screening qualified buyers to protect against curiosity seekers.
31. Present and discuss strategic master marketing plan.
32. Give seller an overview of current market conditions and projections.
33. Review all clauses in listing contract and obtain seller’s signature.
 
After Listing Agreement is Signed
34. Review current title information.
35. Measure overall square footage.
36. Measure interior room sizes.
37. Confirm lot size via owner’s copy of certified survey, if available.
38. Note any and all unrecorded property lines, agreements, easements the seller is aware of.
39. Obtain house plans, if applicable and available.
40. Review house plans, make copy.
41. Order plat map for retention in property’s listing file if applicable.
42. Prepare showing instructions for buyers’ agents and agree on showing time with seller.
43. Obtain current mortgage loan(s) information: companies and account numbers.
44. Verify current loan pay off
45. Check assumability of loan(s) and any special requirements.
46. Discuss possible buyer financing alternatives and options with seller.
47. Review current appraisal if provided.
48. Identify Home Owner Association manager is applicable.
49. Verify Home Owner Association fees with manager–mandatory or optional and current annual fee.
50. Help seller order copy of Home Owner Association bylaws, if applicable.
51. Research electricity availability and supplier’s name and phone number.
52. Obtain average utility usage from last 12 months of bills.
53. Obtain average water system fees or rates from last 12 months of bills.
54. Research and verify city sewer/septic tank system.
55. Or confirm well status, depth and output from Well Report.
56. Research/verify natural gas availability, supplier’s name and phone number.
57. Verify security system, term of service and whether owned or leased.
58. Verify if seller has transferable warranty.
59. Ascertain need for lead-based paint disclosure.
60. Prepare detailed list of property amenities and assess market impact.
61. Prepare detailed list of property’s “Inclusions & Conveyances with Sale.”
62. Determine required inspections needed
63. Complete list of completed repairs and maintenance items.
64. Explain benefits of Home Owner Warranty to seller.
65. Assist sellers with completion and submission of Home Owner Warranty application.
66. When received, place Home Owner Warranty in property file for conveyance at time of sale.
67. Obtain extra key for lockbox.
68. Verify if property has rental units involved. And if so:
69. Make copies of all leases for retention in listing file.
70. Verify all rents and deposits.
71. Inform tenants of listing and discuss how showings will be handled.
72. Arrange for yard sign installation.
73. Request seller completion of Seller’s Property Disclosure form.
74. Complete “new listing checklist.”
75. Review results of Curb Appeal Assessment with seller and suggest improvements for salability.
76. Review results of Interior Decor Assessment and suggest changes to shorten time on market.
77. Load listing time into transaction management software.
 
Entering Property in MLS 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. Proofread MLS database listing for accuracy, including property placement in mapping function.
81. Add property to company’s Active Listings.
82. Provide seller with signed copies of Listing Agreement and MLS Profile Data Form within 48 hours.
83. Take more photos for upload into MLS and use in flyers. Discuss efficacy of panoramic photography.
 
Marketing the Listing
84. Create print and Internet ads with seller’s input.
85. Coordinate showings with owners, tenants and other agents. Return all calls during business hours and urgent calls during evenings and weekends.
86. Install electronic lockbox. Program with agreed-upon showing time windows.
87. Prepare mailing and contact list.
88. Generate letters to contact list.
89. Order “Just Listed” labels and reports.
90. Prepare feedback forms.
91. Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability.
92. Prepare property marketing brochure/flyer for seller’s review.
93. Arrange for printing or copying of supply of marketing brochures or flyers.
94. Post listing in company announcements.
95. Upload listing to company and agent Internet sites, if applicable.
96. Mail “Just Listed” notice to all neighborhood residents where applicable.
97. Advise Network Referral Program of listing.
98. Provide marketing data to buyers from international relocation networks.
99. Provide marketing data to buyers coming from referral network.
100. Provide “Special Feature” cards form marketing, if applicable/
101. Submit ads to company’s participating Internet real estate sites.
102. Convey price changes promptly to all Internet groups.
103. Reprint/supply brochures promptly as needed.
104. Review and update loan information in MLS as required.
105. Send feedback e-mails/faxes to buyers’ agents after showings.
106. Ongoing review of Market Study.
107. Discuss feedback from showing agents with seller to determine if changes will accelerate the sale.
108. Place regular update calls/emails to seller to discuss marketing and pricing.
109. Promptly enter price changes in MLS listings database.
 
The Offer and the Contract
110. Receive and review all Offer to Purchase contracts submitted by buyers or buyers’ agents.
111. Evaluate offer(s) and prepare “net sheet” on each for owner to compare.
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. Provide Seller’s Property Disclosure to buyer’s agent or buyer upon offer or before.
115. Confirm buyer is pre-qualified by calling loan officer.
116. Obtain pre-qualification letter on buyer from loan officer.
117. Negotiate all offers on seller’s behalf, setting time limit for loan approval and closing date.
118. Prepare and convey any counteroffers, acceptance or amendments to buyer’s agent.
119. Fax copies of contract and all addendums to closing attorney or title company.
120. When Offer-to-Purchase contract is accepted and signed by seller, deliver to buyer’s agent.
121. Record and promptly deposit buyer’s money into escrow account.
122. Disseminate “Under-Contract Showing Restrictions” as seller requests.
123. Deliver copies of fully signed Offer to Purchase contract to sellers.
124. Deliver copies of Purchase Agreement contract to selling agent.
125. Deliver Purchase Agreement contract to lender in necessary.
126. Provide copies of signed Offer to Purchase contract for office file.
127. Advise seller in handling additional offers to purchase submitted between contract and closing.
128. Change MLS status to “Sale Pending.”
129. Update transaction management program to show “Sale Pending.”
130. Obtain lender underwriting updates.
131. Obtain buyer credit report information with seller if property is to be seller-financed.
132. Assist buyer with obtaining financing and follow up as necessary.
133. Coordintate closing date and time
134. Deliver unrecorded property information to buyer.
135. Order septic inspection, if applicable.
136. Receive and review septic system report and access any impact on sale.
137. Deliver copy of septic system inspection report to lender and buyer.
138. Deliver well test report copies to lender, buyer and listing file.
139. Verify inspection ordered.
140. Verify mold inspection ordered, if required.

Home Inspection
141. Coordinate buyer’s professional home inspection with seller.
142. Review inspection repair requests.
143. Enter completion into transaction management tracking software program.
144. Explain seller’s responsibilities of loan limits and interpret any clauses in the contract.
145. Ensure seller’s compliance with home inspection clause requirements.
146. Assist seller with identifying and negotiating with trustworthy contractors for required repairs.
147. Assist seller with completion of all required repairs, if needed.
Tracking the Loan Process
148. Confirm return of verifications of deposit and buyer’s employment.
148. Follow loan processing through to the underwriter.
150. Add lender and other vendors to transaction management program 
151. Contact lender regularly to ensure processing is on track.
152. Relay final approval of buyer’s loan application to seller.
 
The Appraisal
153. Ensure lender to scheduled appraisal.
154. Provide comparable sales used in market pricing to appraiser when applicable.
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. Make sure contract is signed by all parties.
159. Coordinate closing process with buyer’s agent and lender.
160. Update closing forms and files.
161. Ensure all parties have all forms and information needed to close the sale.
162. Coordinate closing with seller’s next purchase, resolving timing issues..
163. Confirm closing location, date and time and notify all parties.
164. Address any title problems (boundary disputes, easements, etc.) and assist in obtaining death/divorce certificates.
165. Work with buyer’s agent in scheduling and conducting buyer’s final walkthrough prior to closing.
166. Confirm seller has not received an additional tax or lien notices.
167. Request final closing figures from closing agent (attorney or title company) for review.
168. Provide “Home Owners Warranty” for availability at closing.
169. Provide earnest money deposit from escrow account to closing agent.
170. Verify buyer received closing documents for review.
171. Confirm the buyer and buyer’s agent received title insurance commitment.
172. Forward closing documents to absentee seller, if applicable
173. Confirm seller's move out date/time.
174. Confirm buyers final walk-through time.
175. Attempt to clarify and resolve any repair conflicts if buyer is dissatisfied.
176. Ensure sellers have transferred utilities to the buyers
177. Retrieve lockbox.
178. Uninstall Signage
179. Have a “no surprises” closing so that seller receives a net proceeds check at closing.
180. Change MLS status to Sold. Enter sale date, price, selling broker and agent’s ID numbers, etc.
181. Close out listing in transaction management program.
 
Follow Up After Closing
182. Obtain mail forward address for erronious mail delivery
183. Answer questions about filing claims with Home Owner Warranty company, if requested.
184. Respond to any follow-up calls and provide any additional information required from office files.