Group items tagged

101 Reasons to Consider a Real Estate Agent Appreciating the Numerous Steps an Agent Takes for Homeowners With more real estate resources available on the Internet, it may seem as if buying and selling a home is an easy task. These 101 reasons will show you the extent of knowledge and experience that an agent provides to help you through a real estate transaction. This list reflects actions, procedures and processes that a real estate agent may typically perform during a residential real estate transaction - and are all things that you could avoid doing yourself. Typical Pre-Listing Activities 1. Research Current Properties 2. Research Sales Activity from MLS and public records databases 3. Provide Average Days on Market Assessment 4. Review Property Tax Roll 5. Prepare a Comparable Market Analysis (CMA) 6. Verify Ownership and Deed Type 7. Verify County Public Property Records 8. Perform Curb Appeal Assessment 9. Provide Public School Value 10. Provide a Listing Presentation 11. Analyze Current Market Conditions 12. Present Credentials 13. Deliver CMA Results 14. Discuss Planning and Strategy 15. Explain Listing Contract, Disclosures & Addendum 16. Screen Calls from Buyers or Agents 17. Explain Homeowner Warranty Selling the Property Activities 18. Review Title Details 19. Order Plat Map 20. Create Showing Instructions 21. Obtain Mortgage Loan Information 22. Review Homeowner Association Fees and Bylaws 23. Submit Homeowner Warranty Application 24. Add Homeowner Warranty in MLS 25. Review Electricity Details 26. Arrange Inspections for City Sewer/Septic Tank Systems 27. Collect Natural Gas Information 28. Provide Security System Status 29. Determine Termite Bond Status 30. Analyze Lead-based Paint Status 31. Distribute Disclosure Packages 32. Prepare Property Amenities 33. Detail Inclusions & Conveyances with Sale 34. Compile Repairs Needed List 35. Send Seller Vacancy Checklist 36. Install Lockbox 37. Make Copies of Leases for Rental Units (if applicable) 38. Verify Rents, Utilities, Water, and Deposits for Rentals 39. Inform Tenants of Listing for Rentals 40. Install Yard Sign 41. Perform Interior Assessment 42. Perform Exterior Assessment Advertising and Marketing a Listing 43. Enter a Profile Sheet into the MLS Listing Database 44. Provide Copies of MLS Agreement 45. Take Additional Photos for MLS and Marketing 46. Create and Advertise Property Listing 47. Coordinate Showing Times 48. Create and Mail Flyers 49. Compare MLS Listings 50. Develop Marketing Brochure 51. Notify the Network Referral Program 52. Create Special Feature Cards 53. Analyze Feedback Emails and Faxes Handling Offers and Contracts 54. Receive Offer(s) to Purchase 55. Evaluate Net Sheet 56. Counsel and Mediate Offer(s) 57. Deliver Seller's Disclosure 58. Obtain Pre-qualification Letter 59. Negotiate Offers on the Seller's Behalf 60. Mediate Counteroffers or Amendments 61. Fax Contract Copies 62. Deliver �Offer to Purchase� Copies 63. Assist with Escrow Account 64. Distribute Under-Contract Showing Restrictions 65. Update MLS to �Sale Pending� 66. Review Credit Report 67. Deliver Unrecorded Property Information 68. Order Well Flow Test Reports (if applicable) 69. Order Termite Inspection (if applicable) 70. Order Mold Inspection (if applicable) 71. Confirm Deposit and Buyer's Employment 72. Follow Up with Loan Processing 73. Communicate with Lender 74. Confirm Approval of Loan 75. Remove Loan Contingency Home Inspection and Home Appraisal Activities 76. Coordinate Buyer's Home Inspection 77. Review Home Inspector's Report 78. Interpret Loan Limits 79. Verify Home Inspection Clauses 80. Contractor Preparation 81. Confirm Repair Completion 82. Attend Appraiser Appointment 83. Provide Appraiser Information and Remove Contingency Closing Preparations and Actions 84. Ensure Contract is Sealed 85. Coordinate Closing Process 86. Coordinate Closing Formal Procedure 87. Assist with Title Issues 88. Perform Final Walk-through 89. Verify Tax and Utility Preparations 90. Review and Distribute Final Closing Figures 91. Request Closing Document Copies 92. Confirm Receipt of Title Insurance Commitment 93. Make Homeowners Warranty Available 94. Review Closing Documents 95. Confirm and Assist with Final Deposit 96. Coordinate with Next Purchase 97. Ensure "No Surprises" Closing 98. Final MLS Update 99. Follow Up and Resolve Repairs 100. Documentation Follow Up 101. Hand the keys to the new owner

Like it or not (and the NAR doesn't like it one bit) the business of buying and selling a home is changing

Joe Fox said the percentages in Iggy's Facts come straight from the NAR. So if 64% of home buyers find a home without the help of an agent (24% online and the rest driving around neighborhoods or by other means),

BuySide Realty operates on the principle that people who find the home they want to buy should get paid for their effort. So BuySide actually shares with the buyer 75% of the commission

Interview Your Agent HomeGain's anonymous profile service allows you to review sales proposals from local agents without pressure or commitment. In comparing sales proposals, consider several factors, including experience, local knowledge, credentials, brokerage services, cost and marketing plan. After comparing proposals and backgrounds of agents, then schedule an interview with at least three agents. Questions to ask a prospective agent "Do you work full-time or part-time as a real estate agent?" Full-time work typically means more attention for you. "How well do you know the area(s) I am interested in?" An agent who specializes in the area in which you are interested is preferable. Definitely interview the agent who has the most for-sale signs in your neighborhood. "How many other sellers or buyers are you representing now?" The busiest agents often are the most efficient."Will you handle all aspects of my transaction or will you delegate some tasks to a sales associate or administrative assistant?" A knowledgeable assistant can be invaluable, but make sure that you can connect with your agent when you need to."How much can I expect to pay?" Commissions are negotiable depending on what kind of listing arrangement you have with your agent. "Can you give me a comparative market analysis of recent sales in the area and homes currently on the market?" This should contain listing and sales prices for recently sold homes as well as sales prices and the listing date of homes currently for sale. It also should include detailed property descriptions (such as square footage and numbers of bedrooms and baths)."What does your marketing package contain in addition to a comparative market analysis?" Listing presentations should also include a suggested asking price; information on the local housing market; advertising plans; a discussion of various listing agreements; and an analysis of sale proceeds at various price points and commission levels."Can I list the house with you for 60 to 90 days?" Most consumer experts agree that a three-month listing period, or less, is best. You can always renew the listing agreement at that time. "Is your license in good standing?" You should check an agent's certification yourself with your state's department of real estate. "How many years of education and experience do you have?" Experience and continuing education typically make for better agents. "Are you also a broker and/or a Realtor?" Brokers have more stringent licensing requirements and responsibilities. Realtors are voluntary members of the National Association of Realtors, a trade group.