The Critical Role of the REALTOR

Listed here are nearly 200 typical actions, research steps, procedures, processes and review stages in a successful residential real estate transaction 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. And never forget that the agent has pledged to uphold the stringent, enforceable tenets of the REALTOR Code of Ethics in his/her professional dealings with the public. Doing what he/she says, sometimes more, never less.

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. Research all comparable currently listed properties 4. Research sales activity for past 18 months from MLS and public record databases 5. Research "Average Days on Market for this property of this type, price range and location 6. Download and review property tax roll information 7. Prepare Comparable Market Analysis" (CMA) to establish fair market value 8. Obtain copy of subdivision plot/complex layout 9. Research property's ownership & title 10. Research property's public record information for lot size & dimensions 11. Research and verify legal description 12. Research property's land use code and any applicable restrictions 13. Research property's current use and zoning. Verify legal names of owner(s) in land title records 14. Prepare listing presentation package with above materials 15. Perform exterior "Curb Appeal Assessment" of subject property 16. Compile and assemble formal file on property 17. Confirm current public schools and explain impact of schools on market value 18. Review listing appointment checklist to ensure all steps and actions have been completed

Listing Appointment Presentation

19. Give seller an overview of current market conditions and projections 20. Review agent and company's credentials and accomplishments in the market 21. Present company's profile and position or "niche" in the marketplace 22. Present CMA Results to seller, including comparables, sold, current and expired listings 23. Offer pricing strategy based on professional judgment and interpretation of current market conditions 24. Discuss goals with Seller to market effectively 25. Explain market power and benefits of Multiple Listing Service 26. Explain market power of web marketing, Matrix system 27. Explain the work the brokerage and agent do "behind the scenes" and availability on weekends 28. Explain role in taking calls to screen for qualified Buyers and protect Seller from curiosity seekers 29. Present and discuss strategic master marketing plan 30. Explain different agency relationships and determine Sellers preference 31. Review and explain all clauses in Listing Contract & Addendum and obtain Seller's signature

Once Property is Under Listing Agreement

32. Review current title information 33. Measure for overall square footage 34. Measure interior room sizes 35. Confirm lot size via owners copy of certified survey, if available 36. Note any and all unrecorded property lines, agreements and easements 37. Obtain house plans, if applicable and available 38. Review house plans and make copy 39. Order professional photo session 40. Prepare showing instructions for Buyers' agents and agree on showing time window with Seller 41. Obtain current mortgage loan(s) information: companies and loan account numbers 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 Home Owner Association manager if applicable 47. Verify Home Owner Association Fees with manager - mandatory or optional and current annual fee 48. Order copy of Homeowner Association bylaws, if applicable 49. Research any lease contracts in place, contact names and phone numbers 50. Calculate average hydro usage from last 12 months of bills 51. Research and verify city sewer/septic tank system 52. Water System: Calculate average water fees or rates from last 12 months of bills 53. Well Water: Confirm well status, depth and output from Well Report 54. Natural Gas: Verify suppliers name and phone number 55. Security System: Verify current term of service and whether owned or leased 56. Verify if Seller has any transferable guarantees in place 57. Discuss, explain and assist Seller to fill out Property Condition Disclosure Statement 58. Prepare detailed list of property amenities and assess market impact 59. Prepare detailed list of property's "Inclusions and/or exclusions with Sale" 60. Compile list of completed repairs and maintenance items 61 . Send "Vacancy Check List to Seller if property is vacant 62. REALTORS Tour: Explain benefits to Seller 63. Assist Sellers with list of things to do to sell your home successfully 64. When received, place copies of photos in property file for future advertising campaign 65. Lockbox: Have extra key made for lockbox 66. Verify if property has rental units involved and if so: 67. Make copies of all leases for retention in listing file 68. Verify all rents and deposits 69. Inform tenants of listing and discuss how showings will be handled 70. Arrange for installation of yard sign 71. Discuss calendar of events with Seller 72. "New Listing Checklist Completed 73. Review results of Curb Appeal Assessment with Seller and provide suggestions to improve saleability 74. Review results of Interior Decor Assessment and suggest changes to shorten time on market 75. Load listing into transaction management software program 76. Enter property in Multiple Listing Service database 77. Prepare MLS Profile Sheet - Agent is responsible for quality control" and accuracy of listing data 78. Enter property data from Profile Sheet into MLS database 79. Proofread MLS database listing for accuracy - including proper placement in mapping function 80. Add property to company's Active Listings list 81. Provide Seller with signed copies of Listing Agreement, PCDS, Working with a REALTOR brochure 82. Ask for any favourite photos they may have, to make copies for flyers and promotional material 83. Discuss efficiency of panoramic photography

Marketing The Listing

84. Create print and Internet ads with Seller's input 85. Coordinate showings with owners, tenants, and other REALTORS. 86. Return all calls -weekends included 87. Install electronic lock box if authorized by owner 88. Prepare mailing and contact list 89. Generate mail-merge letters to contact list 90. Order Just Listed labels & reports 91. Prepare flyers & feedback faxes 92. Review comparable MLS listings regularly to ensure property remains competitive 93. Prepare property marketing brochure 94. Arrange for printing or copying of marketing brochures or flyers 95. Place marketing brochures in all company agent mail boxes 96. Upload listing to company and agent Internet site, if applicable 97. Mail Out "Just listed" notice to all neighborhood residents 98. Advise Sphere of Influence Referral Program of listing 99. Provide marketing data to Buyers coming from internet inquiries 100. Provide marketing data to Buyers coming from referral network 101. Provide "Special Feature" cards for marketing, if applicable 102. Submit ads to company's participating Internet real estate sites 103. Price changes conveyed promptly to all Internet groups 104. Reprint/supply brochures promptly as needed 105. loan information reviewed and updated In MLS as required 106. Feedback e-mails/faxes sent to Buyers' agents after showings 107. Review weekly Market Study 108. Discuss feedback from showing agents with Seller to determine if changes will accelerate the sale 109. Place regular weekly update calls to Seller to discuss marketing and pricing 110. Promptly enter price changes In MLS database

The Offer and Contract

111. Receive and review all Offer to Purchase contracts submitted by Buyers' agents 112. Evaluate offer(s) and prepare a "net sheet' on each for the owner for comparison purposes 113. Counsel Seller on offers: Explain merits and weakness of each component of each offer 114. Contact Buyers' agents to review Buyers qualifications and discuss offer 115. Fax/deliver Sellers Disclosure to Buyers agent or Buyer upon request and prior to offer if possible 116. Negotiate all offers on Seller's behalf 117. Prepare and convey any counter-offers, acceptance or amendments to Buyers agent 118. Fax copies of contract and all addenda to closing 119. When Offer to Purchase Contract is accepted and signed by Seller, deliver to Buyers agent 120. Record and promptly deposit Buyer's earnest money in escrow account 121. Disseminate "Under-Contract Showing Restrictions" as Seller requests 122. Deliver copies of fully signed Offer to Purchase contract to Seller 123. Fax/deliver copies of Offer to Purchase contract to Selling Agent 124. Fax/deliver copies of Offer to Purchase contract to lender 125. Provide copies of signed Offer to Purchase contract for office file 126. Advise Seller in handling additional (backup) offers to purchase submitted between contract and closing 127. Change status in MLS to Sale Pending 128. Update transaction management program to show "Sale Pending" 129. Provide credit report information to Seller if property will be Seller-financed 130. Assist Buyer with obtaining financing, if applicable

131. Order septic system inspection, if applicable 132. Deliver Well Flow Test Report copies to lender and Buyer and property listing file if applicable

Tracking the Mortgage Process

133. Confirm verifications of deposit 134. Forward copies of contract to mortgage broker, if required 135. Keep in contact with mortgage broker to ensure application is on track 136. Relay final approval of Buyer's mortgage application to Seller

Home Inspection
137. Coordinate Buyers professional home inspection with Seller 138. Attend home inspection, if required 139. Review home inspectors report, if required 140. Explain Sellers responsibilities with respect to inspection report 141. Recommend or assist Seller with identifying and negotiating with trustworthy contractors to perform any required repairs 142. Negotiate payment and oversee completion of all required repairs on Sellers behalf, if needed

The Appraisal
143. Schedule Appraisal 144. Provide comparable sales used in market pricing to Appraiser

Closing Preparations and Duties

145. Contract Is Signed By All Parties 146. Ascertain Sellers and Buyers lawyers 147. Forward all contracts to lawyers 148. Confirm closing date and time and notify all parties 149. Work with Buyers Agent in scheduling and conducting Buyers Final Walk-Thru prior to closing 150. Arrange key exchange time and place 151. Request copy of closing documents from closing agent 152. Confirm Buyer and Buyers Agent have received title insurance commitment 153. Provide "Home Owners Warranty" if applicable, at closing 154. Review all closing documents 155. Forward closing documents to absentee Seller as requested 156. Coordinate this closing with Sellers next purchase and resolve any timing problems 157. Have a "no surprises" closing so that Seller receives a net proceeds cheque at closing 158. Refer Sellers to one of the best agents at their destination, if applicable 159. Change MLS status to SOLD. 160. Enter sale date, price, selling broker and agent's lD numbers, etc. 161. Close out listing in transaction management program

Follow Up After Closing

162. Answer questions about filing claims with New Home Owner Warranty company if required. 163. Attempt to clarify and resolve any conflicts about repairs if Buyer is not satisfied 164. Respond to any follow-up calls and provide any additional information required for office files