110 ways I can sell your house: Part 7 of 8

The day you’ve been waiting for finally is here–CLOSING! You will be making arrangements with the movers and I will be busy working with the title company and buyer’s lender to ensure a successful, no surprises closing. Click here to get an insight from my clients about how I do business. If you are considering selling your home, give me a call. I can evaluate your unique situation and develop strategies to sell your house in the current marketplace.

My Closing Preparation and Duties:

98. Arrange closing time and location with seller/s, buyer/s, buyer agent, lender and title company.
99. Schedule final walk through with buyer’s agent.
100. Request final closing figures from title company; and review documents closely for errors and review with seller.
101. Coordinate with home warranty company to order warranty, if applicable.
102. Complete office checklist that file is complete.
103. Coordinate this closing with seller’s next purchase and resolve any timing problems.
104. Have a no surprises closing so that seller receives a net proceeds check at closing.
105. Change MLS status and all website postings to Sold and enter all sales data.
106. Provide seller/s CD of all copies of paperwork from the transaction.

Adapted from JCAR Journal April 2007, The Critical Role of the Realtor®

Stay tuned…..in Part 8 of 8 I will be discussing the duties I perform after closing!

110 ways I can sell your house: Part 6 of 8

In Part 5 of 8 I reviewed the steps I take as the listing agent to review and negotiate the offer. Once I successfully negotiate the price and terms of the offer with the selling agent, you and the buyer/s will sign the offer or counterproposal. Then, you are officially under contract! Once that happens, there are many details I coordinate for you to ensure a successful closing.

Under contract activities duties:
77. Change status in MLS and all website postings to “under contract”.
78. Deliver unrecorded property information to buyer’s agent.
79. Coordinate times for all inspections (house, sewer line scope, roof, radon, mold, structural, septic system, well water; and any surveys etc.) with buyer’s agent.
80. Report any off record matters to buyer’s agent.
81. Contact title company to ensure timely delivery of title documents and commitment to buyer.
82. Review commitment and work with seller to remove any liens or unpaid taxes or encumbrances, if any.
83. Contact buyer’s lender that buyer’s loan application has been completed.
84. Deliver all CIC documents to buyer’s agent.
85. Closely monitor all dates and deadlines of the contract and constantly remind seller, buyer agent, lender and title company of deadlines and obtain updates on progress.
86. Document all communication.
87. Prepare any Amend/Extends to the purchase contract if needed.
88. Obtain Inspection Objection report from agent and discuss objections.
89. Review Inspection Objections with seller and discuss plan to address objections.
90. Prepare Inspection Resolution form with seller.
91. Work closely with buyer’s agent and to resolve any issues or disputes that arise.
92. Coordinate the scheduling of the appraisal with buyer’s lender.
93. Be present for appraisal and provide appraiser with current comps; highlight property’s features and neighborhood information that appraiser may be unaware of and answer any inquiries of the appraiser.
94. Provide additional information and defend property’s value if appraisal comes in low.
95. Obtain a copy of the appraisal, if possible.
96. Provide information to title company regarding seller’s loan payoff.
97. Monitor loan processing through to the underwriter and work with lender to resolve any issues.

Adapted from JCAR Journal April 2007, The Critical Role of the Realtor®

Stay tuned…..in Part 7 of 8 I will be discussing the duties I perform prior to closing!

110 ways I can sell your house: Part 5 of 8

In Part 4, I described all the behind the scenes steps I perform once the property is listed for sale. All of our preparation and marketing efforts will result in getting an offer, hopefully several!! As your Realtor, I will carefully go over the offer with you and negotiate all the details with the buyer’s agent on your behalf. Here are some of my other duties:

66. Review purchase contract submitted by buyer’s agent with seller.
67. Prepare new CMA.
68. Evaluate offer/s with seller and prepare a net sheet for seller to review.
69. Counsel seller on offer/s and explain merits and weakness of the offer.
70. Contact buyers’ agents to review buyer’s qualifications and discuss offer.
71. Deliver all disclosures to buyer’s agent and prior to offer if possible.
72. Ensure the contract and all disclosures and addendums are accurately completed by buyer and buyer’s agent.
73. Confirm buyer is prequalified by calling buyer’s lender and obtain prequalification letter.
74. Negotiate all offers on seller’s behalf and prepare any counter offers, acceptance or amendments to buyer’s agent.
75. When contract is accepted by both parties, review all paperwork is completed and deliver copies of the final contract, addendums and disclosures to the title company, my office, buyer’s agent, lender and seller.
76. Obtain earnest money; provide receipt; and promptly deposit into escrow account.

Adapted from JCAR Journal April 2007, The Critical Role of the Realtor®

Stay tuned…..in Part 6 of 8 I will be discussing the duties I perform once we are officially under contract!

110 ways I can sell your house: Part 4 of 8

In Part 3, I reviewed all of the steps we take to get your house ready for sale. Once your house is listed on the MLS, my work is not over! There are many behind the scenes steps I will be performing for you during the listing agreement. Not only will I be marketing your property like crazy but I will also be chasing showing agents to get buyer feedback on price and condition. I will also be monitoring the Denver MLS on a daily basis for comparables in your neigbhorhood that sell, go under contract or get withdrawn. This information is critical for us to be on top of our game plan and keep competatively priced. Here are some more of my duties…

Once property is under a listing agreement:
51. Order TBD from the title company and note any unrecorded property lines; agreements; and easements.
52. Verify Home Owner Association fees.
53. Order a copy of the Homeowner Association Bylaws, Minutes, Budget and CC & R’s.
54. Well water: Confirm well status, depth and output from Well Report and obtain copy of the Well Permit by CO State Engineer’s office.
55. Create and mail out “Just Listed” postcards.
56. Create and send company e-card.
57. Attend marketing session at Realtor meeting to market property.
58. Monitor all showing activity and return all calls from agents inquiring about the property.
59. Contact all buyer’s agents by phone and/or email for feedback after showings or previews.
60. Discuss feedback from showing agents with seller(s) to determine if changes will accelerate the sale
61. Continue to monitor comparable MLS listings (new listings, under contract, solds) regularly to ensure property remains competitive in price, terms, conditions and availability. Report to seller/s on market activity.
62. Price changes conveyed promptly to all Internet sites.
63. Reprint/supply brochures promptly as needed.
64. Host open houses.
65. Place regular update calls to seller to discuss marketing and pricing strategies.

Adapted from JCAR Journal April 2007, The Critical Role of the Realtor®

Stay tuned…..in Part 5 of 8 I will be discussing the duties I perform when we get an offer!

110 ways I can sell your house: Part 3 of 8

In Part 2, I discussed the strategizing we do at the listing presentation. Preparing your house for sale involves a lot of preparation and work for both of us. During this phase, the homeowner will be taking care of necessary cleaning, repairs and staging of the home. Meanwhile, I will completing the paperwork and creating the marketing materials. We want your house to be in tip top shape for our first showing! Here are some of my other duties:

Preparing the house for sale:
35. Provide sellers information and Tips on Preparing your Home for Sale
36. Arrange with sellers to stage house for sale.
37. Take pictures of house for visual tour, brochures, MLS.
38. Prepare property flyer & Home Book
39. Obtain seller’s property disclosure to make packets
40. Prepare and assemble all disclosures for prospective buyers & send to seller and upload all documents online
41. Prepare detailed list of property’s inclusions and exclusions with sale
42. Prepare showing instructions with showing company
43. Put lockbox on front door
44. Arrange for installation of yard sign
45. Complete MLS form and enter property data into MLS
46. Upload virtual tour.
47. Create property flyers and internet ads with seller’s input
48. Upload property data into 50+ websites
49. Create and place “special feature” cards throughout the home for marketing
50. Send seller/s copies of all signed listing paperwork

Adapted from JCAR Journal April 2007, The Critical Role of the Realtor®

Stay tuned…..in Part 4 of 8 I will be discussing the duties I perform while your house is activily listed on the MLS.

110 ways I can sell your house: Part 2 of 8

In Part 1, I described my homework and preparation prior to our first appointment. During the listing presentation, we will cover a lot of ground. I will describe the market conditions in your area; how buyers will shop your home against other competing active listings; and we will comb over the Comparative Market Analysis I’ve prepared for you. As your Realtor®, I will tell you what you need to hear, not what you want to hear! This phase of the transaction is so critical because we are determining your home’s sales price. It may sound obvious, but houses sell quickly and usually for the most money when they are priced properly in the beginning! If you are curious about your home’s value, click here and I will be happy to prepare a complimentary CMA for you.

At the Listing Presentation:
23. Present the listing presentation.  During this first meeting I will assess your needs and discuss how we can work together.  This is also a summary of my qualifications; experience; and my comprehensive marketing plan.
24. Review Comparative Market Analysis with seller/s in detail. Together we will scrutinize the solds, under contract, active, withdrawn and expired listings and compare those to your house to determine fair market value.
25. Discuss pricing strategy based on CMA findings.
26. Discuss the perspective of the buyer in today’s market. Review the Buyer Report from Online Seller Advantage, a report that shows how many buyers are searching for homes in your price range, how many buyers have registered for an account to search for properties similar to yours, as well as other statistics on buyer activity.
27. Offer seller/s opportunity to preview active listings before pricing. It is important to see the competition!
28. Review seller’s net sheet in detail. The net sheet is an estimate of the closing costs and net proceeds.
29. Complete all listing paperwork with sellers (Listing agreement and definitions of agency; Square Footage Disclosure; Lead Based Paint Disclosure; Mold Disclosure; Closing Instructions; Seller’s Property Disclosure to be completed after appointment; Affiliated business disclosures; MLS input form; CIC Checklist; Well Checklist)
30. Coordinate showing instructions and obtain a key
31. Obtain seller’s loan information for title company
32. Check pre-payment penalties and assumability of seller loan(s) and any other special requirements
33. Explain benefits of home warranty to seller and assist with application
34. Discuss possible buyer financing alternatives and options with seller

Adapted from JCAR Journal April 2007, The Critical Role of the Realtor®

Stay Tuned…In Part 3 of 8, I will be covering the Steps for Preparing Your House for Sale.

110 ways I can sell your house: Part 1 of 8

Are you one of many homeowners and homebuyers who do not understand the value of a hiring a Realtor®?   Surveys show that the job functions of a Realtor® are a mystery to many.  Furthermore, homeowners and homebuyers want to know what they are getting for all the commission they pay.    In this eight-part series, I will be describing 110 behind the scenes steps that I perform for my clients during the course of a typical real estate listing transaction.  This is not an exhaustive list of my services.  My duties vary widely because the nature of every transaction is different.    My purpose is to educate readers and to prove why hiring me is worth it!   I strongly believe in the familiar saying, “You get what you pay for” and John Goldsmith also summarizes this well in his quote, “If you pay peanuts, you get monkeys!” Buying or selling a home is one of the biggest financial decisions you will make.  I have the knowledge, hard worth ethic and attention to detail that is necessary for a successful real estate transaction.   If you have further questions about my qualifications or services, feel free to call or e-mail me anytime.

Below is a summary of the research and actions I perform prior to the listing appointment.

Pre-Listing Activities (or Doing My Homework!):

1.    Phone interview with Seller/s.
2.    Schedule listing appointment with seller.
3.    Arrange to preview the house prior to listing appointment.
4.    Research and preview all comparable active listings in the seller’s neighborhood.
5.    Order O & E report from the title company and review title information.
6.    Obtain PDC report.
7.    Send seller/s reminder of listing appointment by email or note.
8.    Research sales activity (actives, solds, under contract, withdrawns, expireds,) for past 6 to 12 months from MLS and public records databases.
9.    Research property tax information.
10.    Research Days on Market for this property type.
11.    Prepare a Comparable Market Analysis (CMA) to establish fair market value.
12.    Research property’s ownership and deed type.
13.    Determine if owner occupancy rate is 51% or higher (for condominiums).
14.    Research property’s lot size.
15.    Research and verify legal description and legal names of owner(s).
16.    Research if property is in a flood plain.
17.    Research property’s land use coding and deed restrictions.
18.    Research property’s current use and zoning.
19.    Configure an estimate of all closing costs (title insurance; loan amount; prorate interest on loan; closing fee; tax certificate; recording; realtor fees; lien release fees; miscellaneous fee; water escrow; property tax proration; HOA transfer fee; pre-payment penalty) and prepare the seller’s net sheet
20.    Prepare and print out all listing paperwork for appointment.
21.    Print buyer statistics from Online Seller Advantage, a technology tool that will allow me to track buyer activity online.  I will provide you a report that will tell you: how many buyers are searching for homes in your price range, how many buyers have registered for an account to search for properties similar to yours, as well as other statistics on buyer activity.
22.    Prepare listing presentation package with the above materials.

Adapted from JCAR Journal April 2007, The Critical Role of the Realtor®

Stay tuned…..in Part 2 of 8 I will be discussing the duties I perform during the Listing Presentation.

It is so exciting to start a blog on my New and Improved website!   Check out my blog to find out about all of the latest news and information about the real estate market in Metro Denver.   This will be a reliable and consistent resource for all of my clients and future clients.  On my website, you will also be able to access the Denver MLS IDX with my new and improved property search engine.  Want to get all the latest homes right in your inbox?  Sign up for my email update service.  It’s easy!

Stay tuned……over the course of several blogs I will be discussing 110 important services and behind the scenes steps that I perform for my clients during the course of a real estate transaction. Here we go!