Listing Process

    THE REAL ESTATE TRANSACTION

    There are 180 typical actions, research steps, procedures, processes and review stages that go into listing and selling a home that are normally provided by full service real estate brokerages in return for their sales commission. Depending on the transaction, some may take minutes, hours, or even days to complete, while some may not be needed.

    More importantly, they reflect the level of skill, knowledge and attention to detail required in today’s real estate transaction, underscoring the importance of having help and guidance from someone who fully understands the process – Tami Price Properties, Inc.!

    PRE-LISTING ACTIVITIES (1-20)

    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 comparables that are currently listed properties
    5. Research sales activity for past 18 months from MLS and public records databases
    6. Research “Average Days on Market” for properties 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 and 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 presentation package with above materials and Realist 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 complete

    LISTING APPOINTMENT PRESENTATION (21-33)

    1. Give seller an overview of current market conditions and projections
    2. Review agent’s and company’s credentials and accomplishments in the market
    3. Present company’s profile and position or “niche” in the marketplace
    4. Present CMA results to seller, including Comparables, Solds, Current Listings and Expireds
    5. Offer pricing strategy based on professional judgment and interpretation of current market conditions
    6. Discuss goals with seller to market effectively
    7. Explain market power and benefits of Multiple Listing Service (MLS)
    8. Explain market power of web marketing, IDX and TamiPriceProperties.com
    9. Explain the work the brokerage and agent do “behind the scenes” and agent’s availability on weekends
    10. Explain agent’s role in taking calls to screen for qualified buyers and protect seller from curiosity seekers
    11. Present and discuss strategic master marketing plan
    12. Explain different agency relationships and determine seller’s preference
    13. Review and explain all clauses in Listing Contract & Addendum and obtain seller’s signature

    ONCE PROPERTY IS UNDER LISTING AGREEMENT (34-77)

    1. Review current title information
    2. Measure overall and heated square footage
    3. Measure interior room sizes
    4. Confirm lot size via owner’s copy of certified survey, if available
    5. Note any and all unrecorded property lines, agreements and easements
    6. Obtain house plans, if available, and make copy
    7. Order plat map for retention in property’s listing file
    8. Prepare showing instructions for buyer’s agents and agree on showing time window with seller
    9. Obtain current mortgage loan(s) information: companies and loan account numbers
    10. Verify current loan information with lender(s)
    11. Check assumability of loan(s) and any special requirements
    12. Discuss possible buyer financing alternatives and options with seller
    13. Review current appraisal, if available
    14. Identify Homeowner Association manager, if applicable
    15. Verify Homeowner Association Fees with manager—mandatory or optional and current annual fee
    16. Order copy of Homeowner Association Bylaws, if applicable
    17. Research electricity availability and supplier’s name and phone number
    18. Secure an energy audit with an San Antonio Energy inspector, if residing in City of San Antonio and home is 10 or more years old
    19. Calculate average utility usage from last 12 months of bills
    20. Research and verify city sewer/septic tank system
    21. Water System: Calculate average water fees or rates from last 12 months of bills
    22. Well Water: Confirm well status, depth and output from Well Report
    23. Natural Gas: Research/verify availability and supplier’s name and phone number
    24. Verify security system, current 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 and assess market impact
    28. Prepare detailed list of property’s “Inclusions & Conveyances with Sale”
    29. Compile list of completed repairs and maintenance items
    30. Send “Vacancy Checklist” to seller, if property is vacant
    31. Explain benefits of Home Owner Warranty to seller
    32. Assist sellers with completion and submission of Home Owner Warranty Application
    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 units 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 installation of yard sign
    40. Assist seller with completion of Seller’s Disclosure form
    41. “New Listing Checklist” Completed
    42. Review results of Curb Appeal Assessment with seller and provide suggestions to improve salability
    43. Review results of Interior Décor Assessment and suggest changes to shorten time on market
    44. Load listing into transaction management software program

    ENTERING PROPERTY IN MULTIPLE LISTING SERVICE DATABASE (78-83)

    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 proper placement in mapping function
    4. Add property to company’s Active Listings list
    5. Provide seller with signed copies of Listing Agreement and MLS Profile Sheet Data Form
    6. Take additional photos for upload into MLS and use in flyers; discuss efficacy of panoramic photography

    MARKETING THE LISTING (84-108)

    1. Create print and Internet ads with seller’s input
    2. Coordinate showings with owners, tenants and other REALTORS®; return all calls including weekends
    3. Install electronic lock box, if authorized by owner; program lockbox with agreed-upon showing time windows
    4. Prepare mailing and contact list
    5. Generate letters and combine with contact list
    6. Order “Just Listed” labels and reports
    7. Prepare flyers
    8. Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability
    9. Prepare property marketing brochure for seller’s review
    10. Arrange for printing or copying a supply of marketing brochures or fliers
    11. Place marketing brochures in all company agent mail boxes
    12. Upload listing to company and agent website, if applicable
    13. Mail Out “Just Listed” notice to all neighborhood residents
    14. Advise Network Referral Program of listing
    15. Provide marketing data to buyers coming through international relocation networks
    16. Provide marketing data to buyers coming from referral network
    17. Provide “Special Feature” cards for marketing, if applicable
    18. Submit ads to company’s participating real estate websites
    19. Convey price changes to all groups promptly via MLS
    20. Reprint/supply brochures promptly as needed
    21. Review and update loan information as required
    22. Feedback e-mails/faxes sent to buyer’s agents after showings
    23. Review market statistics
    24. Discuss feedback from showing agents with seller to determine if changes will accelerate the sale
    25. Place regular weekly update calls to seller to discuss marketing and pricing

    THE OFFER AND CONTRACT (109-139)

    1. Receive and review all Offer to Purchase contracts submitted by buyers or buyer’s agents.
    2. Evaluate offer(s) and prepare a “net sheet” on each for the owner for comparison purposes
    3. Counsel seller on offers. Explain merits and weakness of each component of each offer
    4. Contact buyer’s 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-qualified by calling Loan Officer
    7. Obtain pre-qualification 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. Distribute 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 earnest money in escrow account.
    13. Disseminate “Under-Contract Showing Restrictions” as seller requests
    14. Deliver copies of fully signed Offer to Purchase contract to seller
    15. Deliver copies of Offer to Purchase contract to selling agent
    16. Deliver copies of Offer to Purchase contract to lender
    17. Provide copies of signed Offer to Purchase contract for office file
    18. Advise seller in handling additional offers to purchase submitted between contract and closing
    19. Change status in MLS to “Pending”
    20. Update transaction management program show “Pending”
    21. Review buyer’s credit report results—advise seller of worst and best case scenarios
    22. Provide credit report information to seller, if property will be seller-financed
    23. Assist buyer with obtaining financing, if applicable and follow-up as necessary
    24. Coordinate with lender on Discount Points being locked in with dates
    25. Deliver unrecorded property information to buyer
    26. Order septic system inspection, if applicable
    27. Receive and review septic system report and assess any possible impact on sale
    28. Deliver copy of septic system inspection report lender and buyer
    29. Deliver Well Flow Test Report copies to lender and buyer and property listing file
    30. Verify termite inspection ordered
    31. Verify mold inspection ordered, if required

    TRACKING THE LOAN PROCESS (140-143)

    1. Confirm verifications of deposit and buyer’s employment have been returned
    2. Follow loan processing through to the underwriter
    3. Contact lender weekly to ensure processing is on track
    4. Relay final approval of buyer’s loan application to seller

    HOME INSPECTION (144-149)

    1. Coordinate buyer’s professional home inspection with seller
    2. Review home inspector’s report
    3. Explain seller’s responsibilities with respect to loan limits and interpret any clauses in the contract
    4. Ensure seller’s compliance with Home Inspection Clause requirements
    5. Recommend or assist seller with identifying and negotiating with trustworthy contractors to perform any required repairs
    6. Negotiate payment and oversee completion of all required repairs on seller’s behalf, if needed. 

    THE APPRAISAL (150-154)

    1. Schedule appraisal
    2. Provide comparable sales used in market pricing to appraiser
    3. Follow-up on appraisal
    4. Enter completion into transaction management program
    5. Assist seller in questioning appraisal report if it seems too low

    CLOSING PREPARATIONS AND DUTIES (155-161)

    1. Ensure contract is signed by all parties
    2. Coordinate closing process with buyer’s agent and lender
    3. Update closing forms and files
    4. Ensure all parties have all forms and information needed to close the sale
    5. Select location where closing will be held
    6. Confirm closing date and time, and notify all parties
    7. Assist in solving any title problems (boundary disputes, easements, etc)

    CERTIFICATES (162-177)

    1. Work with buyer’s agent in scheduling and conducting buyer’s final walk-through prior to closing
    2. Research all tax, HOA, utility and other applicable proration’s
    3. Request final closing figures from closing agent (attorney or title company)
    4. Receive and carefully review closing figures to ensure accuracy of preparation
    5. Forward verified closing figures to buyer’s agent
    6. Request copy of closing documents from closing agent
    7. Confirm buyer and buyer’s agent have received title insurance commitment
    8. Provide “Home Owners Warranty” for availability at closing
    9. Reviews all closing documents carefully for errors
    10. Forward closing documents to absentee seller as requested
    11. Review documents with closing agent (attorney)
    12. Provide earnest money deposit check from escrow account to closing agent
    13. Coordinate this closing with seller’s next purchase and resolve any timing problems
    14. Have a “no surprises” closing so that seller receives a net proceeds check at closing
    15. Refer sellers to one of the best agents at their destination, if applicable
    16. Change MLS status to Sold. Enter sale date, price, selling broker and agent’s ID numbers, ETC

    FOLLOW UP AFTER CLOSING (178-180)

    1. Answer questions about filing claims with Home Owner Warranty company, if requested
    2. Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied
    3. Respond to any follow-on calls and provide any additional information required from office files.

    *These steps may vary per transaction*

    Have questions about the listing process? Contact us today, we are always happy help!

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