Page 1 of Steelers Blvd. ǀ Fishers, IN Pre- Listing Activities. Listing Appointment Presentation
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1 Pre- Listing Activities Send a written or confirmation of appointment and call to confirm. Make appointment with seller for listing presentation. Review appointment questions. Research all comparable currently listed properties. Research sales activity for the past 18 months from the MLS (Multiple Listing Service) and public databases. Research average days on market for properties similar in type, price and location. Download and review property tax roll information. Prepare CMA (Comparable Market Analysis) to establish market value. Obtain copy of subdivision plat/complex layout. Research property's ownership and deed type. Research property's public record information for lot size and dimensions. Verify legal description. Research property's land use and deed restrictions. Research property's current and zoning. Verify legal names of owner(s) in county's public records. Prepare listing presentation package with above materials. Perform exterior curb appeal assessment of subject property. Compile and assemble formal file on property. Confirm current public schools and explain their impact on market values. Review listing appointment checklist to ensure completion of all tasks. Listing Appointment Presentation Give seller an overview of current market conditions and projections Review agent and company credentials and accomplishments. Present company's profile and position or niche in the marketplace. Present CMA results, including comparables, solds, current listings and expireds. Offer professional pricing strategy based on interpretation of current market conditions. Discuss goals to market effectively. Explain market power and benefits of multiple listing service. Explain market power of web marketing, IDX (internet data exchange) and Realtor.com. Explain the work the broker and agent do behind the scenes and agent's availability on weekends. Explain agent's role in screening qualified buyers to protect against curiosity seekers. Present and discuss strategic master marketing plan. Explain different agency relationships and determine seller's preference. Complete listing contract and associated documents. Review all clauses in listing contract and obtain seller's signature. Page 1 of Steelers Blvd. ǀ Fishers, IN 46037
2 After Listing Agreement Is Signed 35. Review current title information. 36. Professional photos taken of the home. 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 all unrecorded property lines, agreements and easements. 41. Obtain house plans, if applicable and available. 42. Review house plans and make copy. 43. Order plat map for retention in property's listing file. 44. Prepare showing instructions for buyer's agents and agree on showing times with seller. 45. Schedule and host open house to attract buyers to home. 46. Obtain current mortgage loan(s) information: Companies and account numbers. 47. Verify current loan information with lender(s) 48. Check assumability of loan(s) and any special requirements. 49. Discuss possible buyer financing alternatives and options with seller. 50. Review current appraisal if available. 51. Identify home owner association manager if applicable. 52. Verify home owner association fees with manager, mandatory or optional and current annual fees. 53. Order copy of home owner s association bylaws, if applicable. 54. Research electricity availability and supplier's name and contact information. 55. Calculate average utility usage from the past 12 months of bills. 56. Research and verify city sewer/septic tank system. 57. Confirm well status, depth and output from well report, if applicable. 58. Research natural gas availability and supplier's name and contact information. 59. Verify security system, terms 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 home owner warranty to seller. 67. Assist sellers with completion and submission of home owner warranty application. 68. When received, place home owner warranty 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 make copies of all leases for retention in listing file. 71. Verify all rents and deposits. 72. Inform tenants of listing and discuss how showings will be handled. 73. Arrange for yard sign(s) installation. 74. Assist seller with completion of seller's disclosure form. 75. Complete new listing checklist. 76. Review results of curb appeal assessment with seller and suggest improvements for saleability. 77. Review results of interior design assessment and suggest changes to shorten time on market. 78. Load listing time into transaction management software. Page 2 of 5
3 Entering Property in MLS Database Prepare MLS profile sheet. Agent is responsible for quality control and accuracy of listing data. Write copy for all marketing that will appear on 800+ websites, fliers, open houses, etc. Enter property data from profile sheet into MLS listing database. Proofread MLS database listing for accuracy, including property placement in mapping function. Add property to company's active listings. Provide seller with signed copies of listing agreement and MLS profile data form. Marketing the Listing Create print and internet ads. Market home through Facebook, Twitter and other social media outlets. Call my personal clients and promote your home to sell to them or someone they may know. Coordinate showings with owners, tenants and other agents. Install electronic lockbox and program with agreed upon showing time windows, if necessary. Prepare mailing and contact list. Generate mail-merge letters to contact list Order just listed labels and reports. Prepare flyers and feedback forms. Review comparable MLS listings regularly to ensure property remains competitive in price. Prepare property marketing brochure for seller's reviews. Arrange for printing and copying of marketing brochures and flyers. Place marketing brochures in all company agent mailboxes. Mail just listed notices to all neighborhood residents. Advise network referral program of listing. Provide marketing data to buyers from international relocation networks. Provide marketing data to buyers coming from referral networks. Provide special feature cards from marketing, if applicable. Submit ads to company's participating internet real estate sites. Convey price changes promptly to all internet groups. Reprint and supply brochures promptly as needed. Review and update loan information in MLS as required. Aggressively seek feedback from all showings by calling and ing buyer's agents. Organize and host brokers open to have industry leading realtors provide feedback on home. Discuss feedback from showing agents with seller to determine if changes will accelerate the sale. Review weekly market study. Place regular weekly update calls to seller to discuss marketing and pricing. Promptly enter price changes in the MLS listings database. The Offer and The Contract Receive and review all offer to purchase contracts submitted by buyers or buyer's agents. Evaluate offer(s) and prepare net sheet on each for owner to compare. Counsel seller on offers. Explain merits and weakness of each component of each offer. Contact buyer's agent to review buyer's qualifications. Manage all negotiations with buyer's agent to bring best price and sell home. Fax/deliver seller's disclosure to buyer's agent or buyer upon request and prior to offer if possible. Confirm buyer is pre-qualified by calling loan officer. Page 3 of 5
4 Obtain pre-qualification letter on buyer from loan officer. Negotiate all offers on seller's behalf, setting time limit for loan approval and closing date. Prepare and convey any counteroffers, acceptance or amendments to buyer's agent. Fax copies of contract and all addendums to closing attorney or title company. Complete all offer paperwork adhering to all crucial deadlines and communication. When offer to purchase contract is accepted and signed by seller deliver to buyer's agent. Record and promptly deposit buyer's money into escrow account. Deliver copies of fully signed offer to purchase contract to sellers. Fax/deliver copies of offer to purchase contract to selling agent. Fax copies of offer to purchase contract to lender. Provide copies of signed offer to purchase contract for office file. Advise seller in handling additional offers to purchase submitted between contract and closing. Change MLS status to sale pending. Update transaction management program to show sale pending. Review buyer's credit report results and advise seller of worse and best case scenarios. Provide credit report information to seller if property is to be sell financed. Assist buyer with obtaining financing and follow up as necessary. Coordinate with lender on discount points being locked in with dates. Deliver unrecorded property information to buyer. Order septic inspection if applicable. Receive and review septic system report and access any impact on sale. Deliver copy of septic system inspection report to lender and buyer. Deliver well flow test report to lender, buyer and listing file. Verify termite inspection ordered. Verify mold inspection ordered if applicable. Tracking the Loan Process 145. Confirm return of verifications of deposit and buyer's employment Follow the processing through to the underwriter Add lender & venders to transaction management program so agents, buyer and seller can track progress Contact lender weekly to ensure processing is on track Relay final approval of buyer's loan application to seller. Home Inspection 150. Advise through inspections and respond to the negotiating items to keep in contract and protect the seller Coordinate buyer's professional home inspection with seller Review home inspector's report Enter completion into transaction management tracking software program Explain seller's responsibilities of loan limits and interpret any clauses in the contract Ensure seller's compliance with home inspection clause requirements Assist seller with identifying and negotiating with trustworthy contractors for required repairs Negotiate payment and oversee completion of all required repairs in seller's behalf. Page 4 of 5
5 The Appraisal 158. Schedule appraisal Provide comparable sales used in market pricing to appraiser Follow up on the appraisal Enter completion into transaction management program Assist seller in questioning appraisal report if it seems too low. Closing Preparations and Duties 163. Make sure contract is signed by all parties Coordinate closing process with buyer's agent and lender Update closing forms and files Ensure all parties have all forms and information needed to close the sale Select location for closing and confirm closing date and time Solve any title problems, boundary disputes, easements, etc Work with buyer's agent in scheduling and conducting buyer's final walk-through prior to closing Research all tax, HOA, utility and other applicable proration s Request final closing figures from closing agent, attorney or title agent Receive and carefully review closing figures to assure accuracy Forward verified closing figures to buyer's agent Request copy of closing documents from closing agent Confirm the buyer and buyer's agent received title insurance commitment Provide homeowners warranty for availability at closing Review all final closing documents, HUD review and order pre-closing packet from title company for seller Review all final numbers according to HUD statement and closing documents Forward closing documents to absentee seller as requested Review documents with closing agent or attorney Provide earnest money deposit from escrow account to closing agent Coordinate closing with seller's next purchase, resolving timing issues Have a no surprises closing so that the seller receives net proceeds check at closing Refer sellers to one of the best agents at their new destination if applicable Change MLS status to sold. Enter sale date, price, selling broker and agent's ID numbers, etc Close out listing in transaction management program. Follow Up After Closing 187. Council and advise at the closing table for a smooth close and transition to next home Answer questions about filling claims with home owner warranty company if requested Attempt to clarify and resolve any repair conflicts if buyer is dissatisfied Respond to any follow-up call and provide any additional information required from office files. Page 5 of 5
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