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Role of a Realtor

During the complex process of buying or selling a House, it is extremely hard to be able to keep track of and take care of all the necessary details all on your own. But sometimes, a small detail that you could accidentally leave out of consideration, can have a major impact on the entire process. The role of a Realtor is to make sure every single detail is considered and appropriate actions are taken. There are more than 100 things a Realtor does during the Home Selling process. Here are just some of them:

 

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 12 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. Research property’s ownership & deed type 

10. Research property’s public record of information for lot size & dimensions

11. Research and verify legal description

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

13. Research property’s current use and zoning

14.Verify legal names of owner(s) in public property records

15. Prepare listing presentation package

16. Perform exterior “Curb Appeal Assessment” of subject property

17. Compile and assemble formal file on property

18. Confirm current public schools and explain impact of schools on market value

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

 

Listing Appointment Presentation

 

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

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

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

23. Present CMA Results To Seller, including Comparables, Solds, Current Listings & Expireds

24. Offer pricing strategy based on professional judgement and interpretation of current market conditions

25. Discuss goals with seller to market effectively

26. Explain market power and benefits of Multiple Listing Service

27. Explain market power of web marketing

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

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

30. Present and discuss strategic master marketing plan

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

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

 

Once Property is Under Listing Agreement

 

33. Review current title information

34. Measure overall and heated square footage

35. Measure interior room sizes

36. Confirm lot size via owner’s copy or certified survey, if available

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

38. Obtain house floor plans, if applicable and available

39. Review house floor plans and make a copy

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

41. Obtain current mortgage loan(s) information

42. Verify current loan information with lender(s)

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

44. Discuss possible buyer financing alternatives and options with seller

45. Review current appraisal if available

46. Identify Condo Corp. and management company if applicable

47. Verify condo Fees with management company

48. Order copy of Homeowner Association bylaws, if applicable

49. Calculate average utilities or rates from last 12 months of bills

50. Verify security system, current term of service and whether owner or leased 

51. Prepare detailed list of property’s “Inclusions & Chattels with Sale” 

52. Have extra key made for lockbox

53. Verify if property has rental units involved, and if so:

*Make copies of all leases for retention in listing file

*Verify all rents & deposits

*Inform tenants of listing and discuss how showings will be handled

57. Arrange for installation of yard sign

58. “New Listing Checklist” completed

59. Review results of Curb Appeal Assessment with seller and provide suggestions to on market

60. Review results of Interior Décor Assessment and suggest changes to shorten time on market

61. Load listing into office system

 

Entering Property in Multiple Listing Service Database

 

62. Prepare MLS Profile Sheet – Agents are responsible for “quality control” and accuracy of listing data

63. Enter property data from Profile Sheet into MLS Listing Database

64. Proofread MLS database listing for accuracy – including proper placement in mapping function

65. Add property to company’s Active Listings list

66. Provide seller with signed copies of Listing Agreement and MLS Profile Sheet Data

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

 

Marketing The Listing

 

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

69. Coordinate showings with owners, tenants, and other Realtors. Return all calls – weekends included

70. Install lock box if authorized by owner. Program with agreed-upon showing time windows

71. Prepare mailing and contact list

72. Generate letters to contact list

73. Order “Just Listed” cards

74. Prepare flyers & feedback faxes

75. Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability 

76. Prepare property marketing brochure for seller’s review

77. Arrange for printing or copying of supply of marketing brochures or flyers

78. Place marketing brochures in all company agent mail boxes

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

80. Mail Out “Just Listed” notice to all neighbourhood residents

81. Advise Network Referral Program of listing

82. Provide marketing data to buyers coming from referral network

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

84. Submit ads to company’s participating Internet real estate sites

85. Price changes conveyed promptly to all

86. Reprint/supply brochures promptly as needed

87. Loan information reviewed and updated in MLS as required

88. Feedback e-mails/faxes send to buyers’ agents after showings

89. Review weekly Market Study

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

91. Place regular weekly update calls to seller to discuss marketing & pricing

92. Promptly enter price changes in MLS listing database

 

The Offer and Contract

 

93. Receive and review all Offer to Purchase contracts submitted by buyers or buyers’ agents

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

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

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

97. Confirm buyer is pre-qualified with co-operating salesperson

98. Prepare and convey and counteroffers, acceptance or amendments to buyer’s agent

99. Fax copies of contract and all addendum to closing attorney

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

101. Record and promptly deposit buyer’s money in trust account

102. Provide copies of signed Offer to Purchase contract for office file

103. Change status in MLS

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

 

Home Inspection

 

105. Coordinate buyer’s professional home inspection with seller

106. Review home inspector’s report

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

 

And Much, Much More!

 

 

Khaled Sarwar and Mariam Sarwar
Sales Representatives
sarwar@yourhomeagent.ca

RE/MAX Premier Inc., Brokerage
Independently owned and operated

Mobile: 416-464-9124
Direct: 905-417-4294
Office: 416-987-8000
Fax: 416-987-8001
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