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Amy DeVita, Realtor-AssociateAmy@AmyDeVita.com
There’s no doubt that each licensed Real Estate Agent will go about their dailybusiness a little differently when compared to other agents. There are manystandard day-to-day processes and procedures, and then there are othertransactions that require a little extra effort and finesse to successfully close.That being said, there is an abundance of common tasks that all Real EstateAgents do to earn their commission and complete a successful residential realestate transaction. The following list includes typical tasks they execute,certain research steps, and many procedures and processes that need to gosmoothly right through to the closing ... and beyond!Most importantly, these 184 things reflect the level of skill, attention to detailand knowledge that’s required in today's real estate world.Why does this matter? Because it underscores the importance of getting theright help and guidance from someone who has the right experience. Thatsomeone is a Licensed Real Estate Agent.Amy DeVita, Amy@AmyDeVita.com
1. Schedule a listing presentation with the homeowner/s2. Go over any pre-appointment questions that may need to be answered3. Begin researching comparable listings 4. Check comparables for those with similar type, location and price range 5. Use MLS and public records databases to find sales activity for the past 18 months 6. Find property tax roll information 7. Establish a fair market value based on a Comparable Market Analysis8. Get a copy of the property’s complex layout or subdivision plan 9. Verify the property’s deed type and ownership 10. Confirm lot size and dimensions through public records 11. Verify the property’s legal description 12. Look into the property’s deed restrictions and/or land use code 13. Check the property’s zoning requirements and current use 14. Use public records to verify the legal names of the owner(s)15. Verify school district and public schools in the area16. Do an exterior curb appeal assessment of the property 17. Put together a formal file with all the property details and any relevant information 18. Determine whether or not the property is in a flood zone19. Prepare and finalize the listing presentation package 20. Follow up with homeowner to confirm the listing presentation time and details21. Go over listing appointment checklist to make sure all necessary steps are complete Amy DeVita, Amy@AmyDeVita.comPre-Listing Activities
22. Give basic overview to homeowner of the current local market conditions 23. Discuss professional credentials and any pertinent accomplishments in the market 24. Describe the broker’s profile and position within the marketplace 25. Present CMA results, which will include current listings on market, sold properties and expired listings26. Present pricing strategy based on current market conditions 27. Go over seller’s goals to make sure you market the property effectively 28. Discuss the benefits of using the Multiple Listing Service 29. Explain the importance of using internet and social media marketing30. Discuss availability and communication preferences, including on weekends 31. Explain how agents help qualify a serious buyer vs a “looker” 32. Cover the details of a strategic marketing plan 33. Discuss the different types of agency relationships 34. Review and go over any clauses that are in the Listing Contract and Addendum and get the sellers signature once the property is under a listing agreement35. Review and confirm the current title information 36. Measure the overall square footage, including any heated areas 37. Measure the size of the interior rooms of the listing property 38. If the seller has a copy of a certified survey, confirm the property lot size 39. Be sure to make a note of any unrecorded agreements, easements and property lines40. If available, obtain the house plans 41. Look over and review the house plans and make a copy 42. Order a plat map meant for retention in the property’s listing file Amy DeVita, Amy@AmyDeVita.comListing Appointment Presentation Process
43. Work with the seller to agree on a showing time window and prepare showing instructions for the buyer's agents 44. Find and obtain any current mortgage loan information, which could include companies and loan account numbers 45. Work with the lender to verify current loan information 46. Confirm any loan information and any other special requirements 47. Discuss buyer financing alternatives and other options with the seller 48. Review the current appraisal of the property, if available 49. If possible, verify the Home Owners Association manager 50. Verify and confirm any Home Owners Association fees, including the current annual fee and any other fees that could be mandatory or optional 51. If possible, order a copy of the Home Owners Association bylaws 52. Conduct research into electric suppliers names and phone numbers, as well as electricity availability 53. Calculate what the average utility usage was from the previous 12-months54. Conduct research into and confirm the city’s sewer and septic tank information 55. Calculate what the average water rates or fees were from the previous 12-months56. Conduct research into and confirm well water status, depth and output from the well report57. Conduct research into and confirm the availability of natural gas, as well as the supplier’s name and phone number 58. Look into and verify the security system if there is one and find out current terms of service and if it’s owned or leased 59. Verify that the seller has a transferable Termite Bond60. Conduct research into and determine if there is a need for lead-based paint disclosure 61. Prepare and finalize a detailed list of the property’s amenities and assess its market impact 62. Prepare and finalize a detailed list of the property’s Inclusions and Conveyances with SaleAmy DeVita, Amy@AmyDeVita.com
63. Prepare and finalize a list of any completed repairs or other maintenance items 64. If the property is vacant, send the seller a Vacancy Checklist 65. Provide an explanation to the seller about the benefits of Home Owner Warranty 66. Work with the seller to complete and submit a Home Owner Warranty application 67. After the Home Owner Warranty application gets approved, include it in the property file for conveyance at the time of sale 68. Get an additional key made for the lockbox 69. Verify if the property has any rental units included70. If it does: make copies of all the leases for retention in the listing file 71. If it does: verify and confirm all rent and deposit details 72. If it does: inform the tenants of the listing and discuss how showings are going to be handled 73. Arrange and schedule the installation of a yard sign 74. Work with the seller to complete the seller’s disclosure form 75. Develop and finalize a New Listing checklist 76. Review the curb appeal assessment results with the seller and provide any suggestions 77. Review the results of the interior décor assessment with the seller and provide suggestions to help shorten the time the property is on the market 78. Input the listing into a transaction management software program Amy DeVita, Amy@AmyDeVita.com
79. Prepare the MLS Profile Sheet and make sure the listing data is accurate 80. Input the property data from the Profile Sheet into the MLS listing database 81. Double-check the MLS database listing for accuracy, which can include having the proper placement in the mapping function 82. Add the property to the Active Listings list 83. Provide the seller with a signed copy of the Listing Agreement and the MLS Profile Sheet within 48 hours 84. Take extra photos to include in the MLS listing and in other marketing material85. Get the sellers input and create ads for print and online 86. Work with the seller, tenants and other realtors to coordinate showings, and make sure to return all calls regardless of when they were received 87. If authorized by the seller, install an electronic lockbox and program it for the agreed-upon showing time windows 88. Prepare and finalize a mailing and contact list 89. Write and mail-merge letters directly to your contact list 90. Place an order for “Just Listed” reports and labels 91. Prepare and finalize flyers and feedback faxes 92. Regularly review comparable MLS listings to make sure the property is competitive when it comes to terms, price, availability and conditions 93. Develop and prepare a property marketing brochure for the seller to review Amy DeVita, Amy@AmyDeVita.comEntering Property intothe MLS DatabaseMarketing the Listing
94. Finalize the property marketing brochure and arrange for it to be printed or copied95. Deliver the property marketing brochures to company agents mailboxes 96. If available, upload the property listing to the brokerage website 97. Send a “Just Listed” notice to residents of the neighborhood98. Let the Network Referral Program know about the listing 99. Provide relevant marketing data to any buyers that are coming through international relocation networks 100. Provide relevant marketing data to any buyers that are coming from a referral network 101. If applicable, create and provide Special Feature cards for marketing 102. Submit or take out advertisements on participating real estate websites 103. Make sure to convey any price changes promptly to internet groups 104. Re-print or re-supply brochures as needed 105. Make sure any loan information gets reviewed and updated in MLS as required 106. Make sure to send feedback requests to any buyer’s agents after a showing 107. Review comparables to stay up-to-date on any changes108. Discuss any feedback from showing agents with the seller 109. Regularly update your seller and discuss marketing and pricing strategies 110. Make sure to enter any price changes in the MLS database as soon as possibleAmy DeVita, Amy@AmyDeVita.com
111. Review all the Offer to Purchase contracts that were submitted by a buyer or a buyer’s agent 112. Evaluate the offers and prepare a net sheet for the seller to compare 113. Work with the seller to better understand the offers, finding merits and weaknesses of each 114. Contact the buyer’s agent to review the buyer’s qualifications and discuss the offer in greater detail 115. Deliver the seller’s disclosure to the buyer’s agent or the buyer if requested and before the offer, if possible 116. Confirm details that the buyer is pre-qualified by contacting a loan officer 117. After you contact the loan officer, obtain a pre-qualification letter 118. Negotiate the offers on the seller's behalf, making sure to set a time limit for the close date and loan approval 119. Review, prepare and convey any counteroffers, amendments or acceptance to the buyer’s agent 120. Fax copies of the contract and any addendums to the closing attorney or title company 121. Deliver the Offer to Purchase contract to the buyer's agent after it’s accepted and signed by the seller 122. Make a record of and deposit any earnest money in an escrow account 123. Disseminate any Under-Contract Showing Restrictions as the seller requests them 124. Finalize and deliver copies of the fully signed Offer to Purchase contract to the seller 125. Fax or deliver copies of the Offer to Purchase contract to the selling agent 126. Fax or deliver copies of the Offer to Purchase contract to the lender 127. Prepare copies of the signed Offer to Purchase contract to store in office files Amy DeVita, Amy@AmyDeVita.comThe Offer and the Contract
128. Work with the seller to handle any additional Offers to Purchase that are submitted between the contract and closing times129. Update the property listing status to “Sale Pending” on MLS 130. Update the transaction management program to show “Sale Pending” 131. Review the buyer’s credit report results and advise the seller of the best and worst-case scenarios 132. If the property is going to be seller-financed, provide the credit report information to the seller 133. If needed, work with the buyer to help obtain financing and follow up as needed 134. Work with the lender on any discount points getting locked in with certain dates 135. Make sure to deliver any unrecorded property information to the buyer 136. If needed, order a septic system inspection 137. If needed, review the septic system inspection and assess the possible impact on the sale 138. Fax or deliver a copy of the septic system inspection report to the lender and the buyer 139. Fax or deliver a copy of a Well Flow Test report to the lender and buyer, and include it in the property listing file, if needed140. Confirm that a termite inspection has been ordered 141. Confirm that a mold inspection has been ordered, if neededAmy DeVita, Amy@AmyDeVita.com
142. Confirm with loan officer that the loan application is moving forward in a timely manner 143. Add the lender and vendor details to your management program, so the agents, buyer and seller can track the progress of the sale 144. Stay in contact with the lender on a weekly basis to ensure processing is on track145. Share the final approval of the buyer’s loan application with the sellerAmy DeVita, Amy@AmyDeVita.com146. Work with the seller to coordinate the buyer’s professional home inspection 147. Review the report from the home inspector, if available 148. Enter completion date into the transaction management tracking software 149. Explain loan limits and any clauses in the contract in regards to the seller’s responsibilities 150. Make sure that the seller complies with any Home Inspection Clause requirements 151. Work with the seller to identify and recommend trustworthy contractors to perform any required repairs 152. If needed, oversee the completion and negotiate payment for any required repairs on the seller’s behalf 153. Schedule a home appraisalTracking the Loan ProcessHome Inspection Process
154. Provide any comparable sales that were used in market pricing to the appraiser 155. Follow-up with the appraiser on the status of the appraisal 156. Enter completion date into the transaction management tracking software that you are using 157. Work with the seller to question the appraisal report if it is too lowAmy DeVita, Amy@AmyDeVita.com158. Ensure that the contract is signed by all parties involved 159. Work with the buyer’s agent and lender to coordinate the closing process 160. Update any relevant closing forms and files 161. Make sure all relevant parties have the correct forms and information to close the sale 162. Choose the location where the closing will be held 163. Confirm the details for the closing date and time, and notify all the relevant parties 164. If needed, assist with any title problems, such as boundary disputes or easements, or help with getting death certificates 165. Work with the buyer’s agent to schedule and conduct the buyer’s final walk-through before closing 166. Research and compile a list of any tax, home owners association, utility and other applicable prorations The Appraisal ProcessPreparing for the Closing
167. Work with the closing agent and request final closing figures 168. Examine and analyze the closing figures to ensure accuracy of preparation 169. Forward the verified closing figures to the buyer’s agent 170. Send a request to the closing agent for a copy of the closing documents 171. Confirm with the buyer and their agent that they have received title insurance commitment 172. At closing, provide Homeowners Warranty for availability 173. Examine and analyze the closing figures to make sure there are no errors 174. As requested, forward the closing documents to the absentee seller 175. Review the closing documents with the closing agent or attorney 176. Provide the closing agent with the earnest money deposit check from the escrow account 177. Work with the seller to coordinate the closing with their next purchase and fix any timing issues 178. Make sure the seller receives a net proceeds check at closing by having a “no surprises” closing179. If needed, refer seller to an experienced agent in their new destination180. Update the property listing on MLS to “Sold”, and enter the sale date, the price, the selling broker and the agent’s ID information181. Close out the listing in the transaction management tracking softwareAmy DeVita, Amy@AmyDeVita.com
182. If requested, answer any questions and provide clarity about filing claims with the Home Owner Warranty company 183. If there are any repair conflicts, work with the buyer to try and clarify or resolve the situation 184. Make sure to respond or follow-up on calls received and provide any information that’s needed from office files Amy DeVita, Amy@AmyDeVita.comFollow Up Processes After Closing
Many homeowners or homebuyers don’t fully understand the true value that a Real Estate Agent can provide throughout the entire real estate transaction. While this is already quite a long list, many agents may even provide a variety of additional services! Why? Because every real estate transaction is a little bit different than the last. Some transactions won’t require all of these steps before closing, but because unexpected situations and complications can happen quickly, it’s far better to work with an agent that can make an intelligent and informed decision on what to do next. Your Personal RealtorAmy DeVita, Realtor-AssociateAmy@AmyDeVita.com973.809.0445Did you realize Real Estate Agents did so many things?!