What real estate agents do

1. Provide access to MLS listing database of homes for sale

2. Research all comparable sales in the neighborhood

3. Analyze market conditions and projections

4. Explain past market performance

5. Analyze all homes for sale in the neighborhood to assess your home’s marketing position

6. Counsel home sellers on the process of listing and selling their home

7. Familarize buyers with the neighborhood and market demographics for your home

8. Create, schedule and publish video tours

9. Discuss timing of the sale and the pricing of the home in order to meet your expectations

10. Schedule open houses to attract buyers

11. Prepare for open houses with announcements, postings and signage

12. Arrange for the placement of the For Sale Sign

13. Provide and create flyers for the sale of the home

14. Draft and create print advertisements of the home

15. Take safeguard precautions to minimize risks of loss and vandalism that occur during open houses

16. Receive and review offers from potential buyers

17. Review the buyer’s LSR and analyze the provisions of their loan to assure that they can get financing

18. Present and discuss all offers that are received

19. Check to make certain that all advertising is in compliance with the Code of Ethics and Fair Housing requirements

20. Outline the pros and cons of offers received from potential buyers

21. Thoroughly review the entire listing contract and all accompanying documentation regarding the signing of the listing agreement

22. Negotiate the offer with the buyer and/or their agent

23. Thoroughly review the offer and all it’s terms

24. Explain your legal obligations as a seller in the area of disclosure

25. Answer phone calls and inquiries regarding your property

26. Arrange and schedule showings of your properties at the request of buyers and/or their agents

27. Draft any necessary addendums and clauses that are necessary to the purchase contract

28. Help you review and fill out the mandatory Lead Based Paint Disclosure required from all sellers

29. Provide the appropriate SPDS form for the disclosure of all known conditions required of every seller

30. Guide you through and inform you of the status of the buyer’s loan with requests for periodic updates

31. Monitor and coordinate the escrow process and the handling of the earnest money deposit

32. Counsel you on the rules surrounding the handling of the earnest money deposit

33. Schedule and arrange the necessary inspections requested by the buyer

34. Schedule and arrange access to the home for the appraiser

35. Schedule and arrange the termite inspection and accomodate the buyer’s requests for information

36. Assist in making certain that the buyer gets the necessary HomeOwners Association information

37. Follow up with all prospective buyers who appear during open houses

38. Explain the nature of agency relationships and the way that agency relationships work in real estate transactions

39. Act in a manner that is in accordance with the Code of Ethics to fulfill all obligations to you as the seller

40. Field calls from all advertising and generate interest in the home through marketing efforts

41. Counsel you on periodic price changes that may be demanded due to changes in market conditions

42. Point out areas that are likely to be targetted by buyers on any requests for repairs

43. Provide counseling and guidance in regard to showing so that the home gets its best appearance

44. Locate and provide area and street maps to potential buyers

45. Review the BINSR request from the buyer and review with you the buyer’s requests for repairs

46. Be available on evenings and weekends when buyers are most likely to want to see your home

47. Counsel and guide you through your responses to the buyer’s requests for repairs

48. Provide professional references for any repairs that might decide to make in order to complete the sale

49. Review the preliminary title report received from the escrow company

50. Make certain that all requirements on the preliminary title report are being met and handled prior to closing

51. Check to make certain that the buyer has supplied title with necessary documentation and any power of attorney forms

52. Check the preliminary title report for the status of liens, encumbrances and taxes

53. Monitor the deadlines and timeframes that are contained in the purchase contract

54. Negotiate necessary changes in those timelines

55. Counsel you on the pros and cons of addendums regarding changes in the timelines

56. Advise you on the appraisal process and your role in the appraisal process as a seller

57. Keep the contract in check by issuing cure notices when necessary

58. Provide regular updates and status reports regarding the progress of the transaction

59. Assist you in relocation or buying another property

60. Co-ordinate multiple same day showings

61. Counsel and advise on the handling of multiple offers regarding the property

62. Handle negotiations of offers and counteroffers with buyers and their agents

63. Review completed disclosure forms to insure compliance with required disclosure obligations of all sellers

64. Answer and address questions posed by buyers regarding the property and its condition

65. Help you understand the process of the transaction

66. Perform a curb appeal assessment at the time of listing

67. Provide days on market analysis

68. Provide a full Comparative Market Analysis regarding your property

69. Counsel on the necessity and advantages of a home warranty program

70. Obtain plat map from the title company

71. Review title company charges and fess

72. Collect utility information and advise on the handling of utilities at the time of transfer

73. Discuss and advise on the exchange of occupancy

74. Update and monitor status of MLS listing to “Sale Pending”

75. Advise and monitor removal of loan contingency

76. Contact and discuss loan status with buyers loan representative

77. Confirm the processing of the buyers loan

78. Check on the status of delivery of buyers loan documents to the title company

79. Confirm the completion of all repairs

80. Coordinate the collection of the repair invoices and receipts

81. Deliver all receipts and invoices to the title company as required

82. Confirm the buyers acquisition of insurance on the home at the time of purchase

83. Review the HUD-1 Settlement statement and correct all inaccuracies

84. Make certain that all funds are being handled appropriately

85. Maintain the proper status of the For Sale sign, updating as sold and removing after transaction

86. Co-ordinate and schedule the closing of the transaction

87. Negotiate and arrange any final extensions of the closing date that may be necessary

88. Counsel and advise you on the closing process

89. Schedule all final walk through inspections that are demanded by the buyer

90. Attend and address issues raised in the final walk through inspections

91. Final check with the escrow officer to make certain that all required documentation is in place

92. Review the closing documents

93. Attend and accompany you to the closing to address any issues that you might have

94. Advise and counsel you on the final transfer of funds

95. Assist in the providing of wiring instructions on the day of  closing to the title company

96. Assist in the transmission and delivery of any final documentation that may be required by title

97. Review and explain the role of title insurance in your transaction

98. Assist in the correction of any errors or mistakes in the final closing documents

99. Arrange for the exchange of keys and possession

100. Help counsel and advise you on the final handling of utilities

101. Thank you for your business and earn your trust for every real estate transaction you undertake

Written by Theresa Barnabei, Course Creators.