Carol Ireland

Listed here are 136 typical actions, research steps, procedures, processes and review stages in a successful residential real estate transaction that are normally provided 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, understanding the importance of having help and guidance from someone who fully understands the process - a REALTOR®.

And never forget that REALTORS® are pledged to uphold the stringent, enforceable tenets of the REALTOR® Code of Ethics in their professional dealing with the public! Remember, not every real estate registrant holds REALTOR® membership or MLS® access; make sure yours does!

Listing Appointment Presentation

54. Well Water – confirm well status and have Health Unit test so remedial steps can be taken if required. Also, advise of any abandoned wells on the property and put on the listing

55. Determine natural gas, heating oil or propane supplier’s name and telephone number

56. Note on listing any rented appliances i.e. hot water tank, furnace, etc.

57. Verify security system- owned, rented, terms and service terms

58. Ascertain if any lead-based paint, asbestos insulation, UFFI or other latent defect needs to be disclosed

59. Prepare a list of property features such as pool, sauna, whirlpool, landscape pools and special plants

60. Prepare a list of chattels included or excluded from the sale of the property

61. Compile a list of recent improvements, repairs or maintenance

62. Send letter to Seller if property is vacant to advise insurance company

63. Explain the advantages of a lock box and have extra keys made

64. Verify if property has rental units. If so:

65. - Inquire as to whether they comply with the zoning by-law, fire and electrical safety

66. - Make copies of all rental agreements

67. - Determine ownership of any appliances or other chattels

68. - Verify and list all rental amounts and deposits held

69. - Inform tenant of the listing and discuss how showings will be handled

70. Arrange for installation of For Sale sign

71. Assist seller to fill in the Seller Property Information Statement

72. Give the seller a blank copy of the Agreement of Purchase and Sale and discuss it with them

73. Explain the offer presentation process and the possibility of multiple offers

74. Discuss the type of conditions that will likely be included in an offer to purchase

75. Discuss results of Curb Appeal Assessment, Interior Décor Assessment and discuss ways to improve appearances for showings.

76. Arrange for Office Tour/Real Estate Association Tour and report comments back to seller

77. Load listing into personal database for transaction management

84. Install lockbox if authorized by the owner

85. Prepare personal mailing and contact list

86. Generate mail merge letters to contact list

87. Order “Just Listed” cards and handouts

88. Prepare flyers and feedback faxes

89. Constantly review MLS® listings to ensure property remains competitive in price

90. Prepare property marketing brochure for seller’s approval

91. Arrange for printing of approved brochure and distribution

92. Distribute property brochure to all company salespeople

93. Mail out “Just Listed” notices to the immediate neighbourhood residents

94. Advise company Network Referral Program of the listing

95. Provide marketing data to buyers coming through international relocation

96. Provide marketing data to buyers coming from referral network

97. Submit ads to company’s internet site

98. Price changes promptly conveyed to all databases and internet groups

99. Reprint supply of brochures as required

100. Update Mortgage information as available to all marketing facilities

101. Follow up feed back e-mails and faxes sent to representatives who have shown the property

102. Discuss feedback from showing representatives with the seller to determine if changes are required to accelerate the sale

103. Place regular weekly update calls to the seller to discuss marketing activity and results

104. Receive and review all Offers to Purchase submitted by buyers and buyers’ representatives

105. Evaluate offer and prepare a “net sheet” on each for owner comparison

106. Counsel owners on each offer – explaining merits and weaknesses of each

107. Contact buyer’s representative to discuss qualifications and motivations of their client

108. Fax/Deliver S.P.I.S.(seller property information statement) to buyer’s representative or buyer prior to offer if possible

109. Confirm that buyer is qualified by Mortgage Officer

110. Obtain pre-qualification letter from Mortgage Officer

111. Negotiate all offers on seller’s behalf, setting condition time limits and closing date

112. Prepare and convey all counter offers, acceptance and/or amendments to buyer’s representative

113. Fax copies and mail originals of all documents to lawyer for the seller

114. When Offer to Purchase is settled and finalized by the seller, deliver to the buyer’s representative leaving a true copy with the owner

115. Deliver deposit to Trust Account as soon as practicable.

116. Provide copy of the executed agreement to the office for filing in the deal file

117. Advise and counsel owner on the handling of offers while the original transaction is pending i.e. days to meet conditions in first offer and procedures

118. Update personal transaction program indicating Sale Pending

119. Assist buyer in applying for financing, if applicable

120. Arrange for appraiser to inspect the property and give any information including comparables, survey copy, etc.