Why hire a Realtor®?

A home is often one of the most significant financial investments most people will make in a lifetime. Now that you have decided to sell your home you may be asking yourself, "Should I hire a Realtor® to handle the sale or can I avoid paying a commission and sell the house myself?"

The internet has made it easier for homeowners to sell their property without the assistance of a Realtor®. However, savy sellers realize that they need and want a Realtor's® expertise in pricing their home, posting the listing on the Multiple Listing Service (MLS), advertising, working with buyers, planning and staffing open houses, coordinating other professionals and overseeing the sales process from beginning to end. In fact, according to the National Association of Realtor's 2005 Profile of Home Buyers and Sellers, "The median home price for sellers who use an agent is 16.0 percent higher than a home sold directly by an owner."

What does a Realtor® do?

Many of the important services that a Realtor® provides are performed behind the scenes and ensure a smooth transaction from beginning to end. We have compiled the following step-by-step list of the typical services provided by a Realtor®. Please keep in mind that each transaction is unique. Some may require more steps and others may require less. Each step may require minutes, hours or even days to complete.

If after reading this list you are ready to reap the benefits that a Realtor has to offer, give us a call to schedule a free market analysis of your home and put the Power to work for you!

Stage I: Pre-Listing

• Schedule appointment for pre-listing consultation with Seller
• Research public information for property’s ownership deed type, lot size and dimensions, legal description, deed restrictions, zoning and current property tax information
• Research recent sales activity for surrounding area
• Prepare Comparable Market Analysis (CMA) using past sales activity in order to help establish market value of home
• Tour home with Seller
• Meet with Seller for pre-listing consultation
• Assist Seller in compiling a list of needed repairs and/or maintenance items
• Review all of the above with Seller including current market trends
• Establish list price for home
• Assist Seller with completion of the Seller’s Sales Disclosure Form
• Ascertain the need for Lead Based Paint Disclosure and assist Seller with completion of the form if required
• Review and execute Listing Contract and Addenda

Stage II: Marketing the Active Listing

• Establish and implement a marketing plan including the Multiple Listing Service (MLS), mailers, websites (i.e. www.realtor.com), and local publications (i.e. Homes & Lifestyles)
• If property has rental units, make copies of leases for file, verify all rents and deposits, inform tenants of listing and discuss how showings will be handled
• Obtain key to property from Seller
• Install lockbox on home, if authorized by Seller
• Install “For Sale” yard sign and directional signs, if authorized and permitted
• Provide suggestions to improve the salability of the home including curb appeal and interior decorations
• Complete MLS Listing Input Sheet
• Take photos of home to feature in MLS and flyers
• Measure room sizes to include in MLS
• Enter listing into MLS and update as required
• Create and distribute marketing materials
• Coordinate all showings with owners, tenants and other Realtors; return all calls – weekends and evenings included
• Obtain feedback from all showings and share with Seller to determine ways to increase salability of home

Stage III: The Offer and Contract Negotiations

• Receive and review all Offer to Purchase contracts submitted by buyers and buyer’s agents
• Confirm buyer is pre-qualified for an appropriate mortgage and obtain copy of prequalification letter
• Evaluate offers and prepare Seller’s Net Expenses Form to assist in evaluating offer
• Review offers and Seller’s Net Expenses Form with Seller
• Negotiate all offers on Seller’s behalf including conveying all counter offers, acceptance and/or amendments to buyer or buyer’s agent
• When accepted, delivery signed copy of Offer to Purchase contract to all parties
• Properly deposit earnest money
• Fax copies of contract to all 3rd parties (i.e. Seller and/or Buyer’s attorney, title company, lender)

Stage IV: Inspections

• Coordinate Buyer’s home inspection with Seller
• Review inspector’s report and discuss any impact with Seller
• Assist Seller with completing the Inspection Response to Independent Inspection Report
• Assist Seller with completing any necessary repairs
• If applicable, order septic system, well, termite, and/or mold inspection; review results with Seller and discuss any potential impact

Stage V: Moving Toward Closing

• Assist Buyer with obtaining financing and follow up, if required
• Follow loan processing through to underwriter and ensure loan processing is on track for on time closing
• Coordinate Buyer’s appraisal with Seller and follow through to completion
• Assist Seller in questioning appraisal report, if required
• Select title company and location for closing
• Order title insurance commitment and provide copy to buyer or buyer’s agent
• Coordinate closing process with buyer or buyer’s agent and lender
• Coordinate closing with purchase of Seller’s next home, if applicable
• Ensure all parties have necessary information in order to close
• Update all forms and files, as required
• Assist in resolving any title problems
• Assist Seller with executing a Power of Attorney, if required
• Complete forms necessary to purchase Home Warranty and notify title company, if applicable
• Schedule closing day and time
• Research all applicable prorations (i.e. taxes, HOA dues, pre-paids)
• Request draft closing statement from title company and review for errors prior to closing
• Forward closing documents to absentee Seller, if applicable

Stage VI: The Closing

• Provide earnest money check to title company
• Attend closing with Seller and provide answers to any questions that may arise
• Receive possession escrow money from title company, if applicable

Stage VII: After Closing

• Coordinate transfer of possession, if not done on day of closing
• Properly distribute possession escrow money and coordinate execution of the Mutual Release of Possession Escrow Form
• Handle any issues that may arise from filed claims under the Home Warranty, if applicable
• Respond to any questions that may arise in the future
• Keep copies of all transaction records, as required by law