David Winter - Associate Broker, e-PRO, GRI

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David Winter

What I Do to Sell Your House!

   It really looks easy from the outside looking in on a real estate transaction. Here are  some of the things I do for you:

 

          Pre-Listing Activities

·         Make appointment with seller for listing presentation.

·         Send seller a written or e-mail confirmation of listing appointment and call to confirm.

·         Review pre-appointment questions.

·         Research all comparable currently listed properties.

·         Research past sales activity from MLS and public records databases.

·         Research “Average Days on Market” for this property of this type, price range and location.

·         Download and review property tax roll information.

·         Prepare “Comparable Market Analysis” (CMA) to establish fair market value.

·         Obtain copy of subdivision plat/complex lay-out.

·         Research property’s ownership and deed type.

·         Research property’s public record information for lot size and dimensions.

·         Research and verify legal description.

·         Research property’s land use coding and deed restrictions.

·         Research property’s current use and zoning.

·         Verify legal names of owner(s) in county’s public property 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 impact of schools on market value.

·         Review listing appointment checklist to ensure that all steps and actions have been completed.

 

      Listing Appointment Presentation

·         Give seller an overview of current market conditions and projections.

·         Review agent’s and company’s credentials and accomplishments in the market.

·         Present company’s profile and position or “niche” in the marketplace.

·         Present CMA results to seller, including comparables, sold properties, current listings and expired listings.

·         Offer pricing strategy based on professional judgment and interpretation of current market conditions.

·         Discuss goals with seller to market effectively.

·         Explain market power and benefits of Multiple Listing Service.

·         Explain market power of IDX, and internet marketing strategy.

·         Explain the work the brokerage and agent do “behind the scenes” and agent’s availability on weekends.

·         Explain agent’s role in taking calls to screen for qualified buyers and protect seller from curiosity seekers.

·         Present and discuss strategic master marketing plan.

·         Explain different agency relationships and determine seller’s preference.

·         Review and explain all clauses in Listing Contract and Addendum and obtain seller’s signature.

 

 

     Once Property is Under Listing Agreement

·         Review current title information.

·         Confirm lot size via owner’s copy of certified survey, if available.

·         Note any and all unrecorded property lines, agreements, easements.

·         Obtain house plans, if applicable and available.

·         Review house plans and make copy.

·         Order plat map for retention in property’s listing file.

·         Prepare showing instructions for buyers’ agents and agree on showing time window with seller.

·         Obtain current mortgage loan(s) information: companies and loan account numbers.

·         Verify current loan information with lender(s).

·         Check assumability of loan(s) and any special requirements.

·         Discuss possible buyer financing alternatives and options with seller.

·         Review current appraisal, if available.

·         Identify Home Owner Association manager, if applicable.

·         Verify Home Owner Association fees with manager: mandatory or optional and current annual fee.

·         Order copy of Homeowner Association bylaws, if applicable.

·         Research electricity availability and supplier’s name and phone number.

·         Calculate average utility usage from last 12 months of bills.

·         Research and verify city sewer/septic tank system.

·         Water system: calculate average water fees or rates from last 12 months of bills.

·         Well water: confirm well status, depth and output from well report.

·         Natural gas: research/verify availability and supplier’s name and phone number.

·         Verify security system, current term of service and whether owned or leased.

·         Verify if seller has transferable Termite warranty.

·         Ascertain need for lead-based paint disclosure.

·         Prepare detailed list of property amenities and assess market impact.

·         Prepare detailed list of property’s “Inclusions and Conveyances with Sale.”

·         Compile list of completed repairs and maintenance items.

·         Send “Vacancy Checklist” to seller if property is vacant.

·         Explain benefits of home owner warranty to seller.

·         Assist sellers with completion and submission of home owner warranty application.

·         When received, place home owner warranty in property file for conveyance at time of sale.

·         Have extra key made for lockbox.

·         Verify if property has rental units involved. And, if so:

·         make copies of all leases for retention in listing file.

·         verify all rents and deposits.

·         inform tenants of listing and discuss how showings will be handled.

·         Arrange for installation of yard sign.

·         Assist seller with completion of Seller’s Disclosure form.

·         “New Listing Checklist” completed.

·         Review results of curb appeal assessment with seller and provide suggestions to improve salability.

·         Review results of interior décor assessment and suggest changes to shorten time on market.

 

      Entering Property in Multiple Listing Service Database

·         Prepare MLS Profile Sheet — agent is responsible for “quality control” and accuracy of listing data.

·         Enter property data from profile sheet into MLS listing database.

·         Proofread MLS database listing for accuracy, including proper placement in mapping function.

·         Add property to company’s active listings list.

·         Provide seller with signed copies of Listing Agreement and MLS Profile Sheet Data Form within 48 hours.

·         Take additional photos for upload into MLS and use in flyers. Discuss efficacy of panoramic photography.

 

      Marketing the Listing

·         Create print and Internet ads with seller’s input.

·         Coordinate showings with owners, tenants, and other Realtors®. Return all calls, weekends included.

·         Install electronic lock box if authorized by owner and program with agreed-upon showing time windows.

·         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, terms, conditions and availability.

·         Prepare property marketing brochure for seller’s review.

·         Arrange for printing or copying of supply of marketing brochures or fliers.

·         Place marketing brochures in all company agent mail boxes.

·         Upload listing to company and agent Internet site, if applicable.

·         Mail Out “Just Listed” notice to all neighborhood residents.

·         Advise network referral program of listing.

·         Provide marketing data to buyers coming through international relocation    networks.

·         Provide marketing data to buyers coming from referral network.

·         Provide “Special Feature” cards for marketing, if applicable.

·         Submit ads to company's participating Internet real estate sites.

·         Price changes conveyed promptly to all Internet groups.

·         Reprint/supply brochures promptly, as needed.

·         Loan information reviewed and updated in MLS as required.

·         Feedback e-mails sent to buyers’ agents after showings.

·         Review weekly Market Study.

·         Discuss feedback from showing agents with seller to determine if changes will accelerate the sale.

·         Place regular weekly update calls to seller to discuss marketing and pricing.

·         Promptly enter price changes in MLS listing database.

 

The Offer and Contract

·         Receive and review all offer to purchase contracts submitted by buyers or buyers' agents.

·         Evaluate offer(s) and prepare a “net sheet” on each for the owner for comparison purposes.

·         Counsel seller on offers. Explain merits and weakness of each component of each offer.

·         Contact buyers’ agents to review buyer’s qualifications and discuss offer.

·         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.

·         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 title company.

·         When an Offer to Purchase Contract is accepted and signed by seller, deliver signed offer to buyer’s agent.

·         Record and promptly deposit buyer’s earnest money in escrow account.

·         Disseminate “Under-Contract Showing Restrictions” as seller requests.

·         Deliver copies of fully signed Offer to Purchase Contract to seller.

·         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 status in MLS to “Sale Pending.”

·         Review buyer’s credit report results if applicable — advise seller of worst and best case scenarios.

·         Provide credit report information to seller if property will be seller-financed.

·         Assist buyer with obtaining financing, if applicable and follow-up as necessary.

·         Coordinate with lender on Discount Points being locked in with dates.

·         Deliver unrecorded property information to buyer.

·         Order septic system inspection, if applicable.

·         Receive and review septic system report and assess any possible impact on sale.

·         Deliver copy of septic system inspection report lender and buyer.

·         Deliver Well Flow Test Report copies to lender and buyer and property listing file.

·         Verify termite inspection ordered.

·         Verify mold inspection ordered, if required.

 

Tracking the Loan Process

·         Confirm verifications of deposit and buyer’s employment have been returned.

·         Follow loan processing through to the underwriter.

·         Contact lender weekly to ensure processing is on track.

·         Relay final approval of buyer’s loan application to seller.

 

Home Inspection

·         Coordinate buyer’s professional home inspection with seller.

·         Review home inspector’s report.

·         Explain seller’s responsibilities with respect to loan limits and interpret any clauses in the contract.

·         Ensure seller’s compliance with Home Inspection Clause requirements.

·         Recommend or assist seller with identifying and negotiating with trustworthy contractors to perform any required repairs.

·         Negotiate payment and oversee completion of all required repairs on seller’s behalf, if needed.

 

The Appraisal

·         Schedule appraisal.

·         Provide comparable sales used in market pricing to appraiser.

·         Follow up on appraisal.

·         Assist seller in questioning appraisal report if it seems too low.

 

Closing Preparations and Duties

·         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 where closing will be held.

·         Confirm closing date and time and notify all parties.

·         Assist in solving any title problems (boundary disputes, easements, etc) or in obtaining death certificates.

·         Work with buyer’s agent in scheduling and conducting buyer’s final walk-thru prior to closing.

·         Research all tax, HOA, utility and other applicable pro-rations.

·         Request final closing figures from closing agent at the title company.

·         Receive and carefully review closing figures to ensure accuracy of preparation.

·         Forward verified closing figures to buyer’s agent.

·         Request copy of closing documents from closing agent.

·         Confirm buyer and buyer’s agent has received title insurance commitment.

·         Provide Home Owners Warranty for availability at closing.

·         Reviews all closing documents carefully for errors.

·         Forward closing documents to absentee seller, as requested.

·         Review documents with closing agent (attorney).

·         Coordinate this closing with seller's next purchase and resolve any timing problems.

·         Have a “no surprises” closing.

·         Refer sellers to one of the best agents at their destination, if applicable.

·         Change MLS listing status to Sold. Enter sale date and price, selling broker and agent’s ID numbers, etc.

 

Follow Up After Closing

·         Answer questions about filing claims with Home Owner Warranty company, if requested.

·         Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied.

·         Respond to any follow-up calls and provide any additional information required from office files.

Published Friday, July 02, 2010 1:08 PM by David Winter

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