Selling

What Fourteen West can do for our Sellers

Pre-listing activities

1.   Make appointments with Seller for listing presentation.
2.   Send a written or e-mail confirmation of appointment and call to confirm.
3.   Review appointment questions.
4.   Inspect all currently listed, comparable properties.
5.   Research sales activity for past 6 to 9 months from FMLS.
6.   Review property tax information.
7.   Prepare “Comparable Market Analysis” (CMA) to establish market value.
8.   Research property’s tax assessor map for lot size and dimensions.
9.   Verify legal description.
10.   Research property’s current use and zoning.
11.   Verify legal names of owner(s) in county’s public property records.
12.   Confirm current public schools.
13.  Perform exterior “curb appeal assessment”.
14.   Prepare listing presentation package with above materials.

Listing appointment presentation

15.   Give Seller an overview of current market conditions.
16.   Review Associate and company credentials and accomplishments.
17.   Present company’s profile and position or “niche” in the marketplace.
18.   Present CMA results, including comparables, solds, current listings and
  expireds. 
19.   Offer pricing strategy based on professional judgment and interpretation of
  current market conditions. 
20.   Discuss goals to market effectively.
21.   Perform “interior décor assessment”.
22.   Explain market power and benefits of FMLS.
23.   Explain market power of Web marketing.
24.   Explain the work the brokerage and agent do “behind the scenes” and Associate’s
      availability on weekends.     
25.   Explain Associate’s role in screening qualified Buyers to protect against curiosity
  seekers.  
26.   Present and discuss marketing plan.
27.   Explain different agency relationships and determine Seller’s preference
  regarding possible Dual Agency and Designated Agency.  
28.   Review all clauses in listing contract and obtain Seller’s signature.
29.   Review data entry form and obtain Seller’s signature.
30.   Review benefits for Seller and Buyer with regards to offering a Home Warranty.
31.   Explain Seller’s responsibility regarding Seller’s Disclosure Statement, Lead    
      Based Paint Disclosure, and Dekalb County’s “Inefficient Plumbing Fixtures
      Replacement Plan Ordinance”.

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After listing agreement is signed

32.   Note any and all unrecorded property lines, agreements, easements.
33.   Obtain Seller’s existing survey (if available).
34.   Obtain house plans, if applicable and available.
35.   Prepare showing instructions for Buyers’ agents and agree on showing
  arrangements with Seller.  
36.   Obtain current mortgage loan(s) information: company(ies) and account
  number(s).  
37.   Collect Home Owner Association information if applicable.
38.   Verify Home Owner Association and/or Swim/Tennis fees with Seller and if the
      HOA or Swim/Tennis is mandatory or optional, and current annual fee.     
39.   Order copy of Homeowner Association By-Laws, if applicable.
40.   Determine utility company options and collect current utility costs.
41.   If applicable, verify security system, term of service and whether owned or
  leased.  
42.   Verify if Seller has transferable Wood Infestation Bond.
43.   Ascertain need for lead-based paint disclosure.
44.   Ascertain need for “Inefficient Plumbing Fixtures Replacement Plan Ordinance”
      paperwork if property is located in unincorporated Dekalb County
45.   Prepare detailed list of property amenities.
46.   Compile list of completed repairs and maintenance items.
47.   Review Seller responsibilities if property is vacant.
48.   Submit Home Owner Warranty application, if acquired by Seller.
49.   When received, place Home Owner Warranty in property file for conveyance at
      time of sale.     
50.   Have extra key made for lockbox.
51.   Confirm if property has rental units involved. And if so:
a. Make copies of all leases for retention in listing file.
b. Verify all rents and deposits.
c. Obtain rental unit keys and access information.
d. Inform tenants of listing and discuss how showings will be handled.
52.   Arrange for yard sign installation.
53.   Discuss with neighboring corner lot properties the possibility of placing a
      “For Sale Directional” and/or “Open House Directional” sign on property, as allowed.     
54.   Complete “new listing checklist”.
55.   Review results of “Curb Appeal Assessment” with Seller and provide
  suggestions to improve salability.  
56.   Review results of “Interior Décor Assessment” and suggest changes to shorten
      time on market.

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Entering property in MLS database

57.   Review FMLS Data Entry Form- Associate is responsible for “quality control” of
      listing data, however, Seller warrants information is true and correct.     
58.   Enter property data from Data Entry Form into FMLS listing databases.
59.   Proofread FMLS listing for accuracy, including proper placement in mapping
      function.     
60.   Add property to company’s Active Listings list.
61.   Take additional photos for upload into FMLS, multiple internet sites and use in
      marketing materials.

Marketing the listing

62.   Create marketing tools to be used.
63.   Coordinate showings with owners, tenants, and other REALTORS®.  Return all
  calls…weekends and reasonable evening hours included.  
64.   Install electronic lock box if authorized by owner.  Program agreed-upon
  showing time windows if viewing is not possible during “normal” pre-
  programmed hours.  
65.   Prepare mailing and contact list.
66.   Generate mail-merge letters to contact list.
67.   Order “Just Listed” postcards for neighboring properties.
68.   Prepare flyers and feedback faxes.
69.   With Seller’s permission, and if available, place brochure box in front yard of
      property and keep filled with tasteful information.     
70.   Consistently review comparable FMLS listings to ensure property remains
  competitive in price, terms, condition and availability.  
71.   Prepare marketing brochure for Seller’s review.
72.   Arrange for printing or copying of supply of marketing brochures.
73.   Place marketing brochures in all company agent mailboxes.
74.   Insure photo and information concerning property is placed on the display in
  front of Fourteen West’s office.  
75.   Upload listing to company and multiple Internet sites such as REALTOR.com,
  google.com, livedeal.com, realestate.yahoo.com, cyberhomes.com,
  homescape.com, zillow.com, findmyroof.com, kijiji.com, Emory University’s
  housing website, WSBtv.com, trulia.com, oodle.com, citycribs.com, vast.com,
  aol.com, 14west.com, askew.com, house.com and many others!
CLICK HERE FOR A COMPLETE LIST
 
76.   Mail “Just Listed” notice to neighborhood residents.
77.   Provide “Special Feature” cards for marketing, if applicable.
78.   Convey price changes promptly to all Internet groups, FMLS service and area
  real estate agents.  
79.   Reprint/supply brochures promptly when needed.
80.   Review and update information in FMLS as required.
81.   Send feedback e-mails/faxes to Buyer’s agents after showings.
82.   Discuss feedback from showing agents with Seller to determine if suggested
      changes will accelerate the sale.     
83.   Place regular weekly update calls to Seller to discuss marketing and pricing.
84.   Promptly enter price changes in MLS listings databases.

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The offer and contract

85.   Receive and review all Purchase and Sale Agreements submitted by Buyers
      or Buyer’s agents.     
86.   Fax/deliver Seller’s Disclosure to Buyer’s agent or Buyer upon request and
  prior to offer if possible.   
87.  Confirm Buyer is pre-qualified by reviewing pre-qualification letter and/or
      calling loan officer.     
88.  Evaluate offer(s) and prepare “net sheet” for owner review.
89.  Contact Buyer’s agents to review Buyer’s qualifications and discuss offer.
90.  Counsel Seller on offer.  Explain merits and weakness of each component of
  each offer.   
91.  Negotiate all offers with Seller’s input, setting time limit for loan approval,
  inspections, and closing date.  
92.  Prepare and convey any counteroffers, acceptance or amendments to Buyer’s
  agent.  
93.  When Purchase and Sale Agreement is accepted and signed by the Seller,
  deliver to Buyer’s agent.  
94.  Record and promptly deposit Buyer’s earnest money into escrow account.
95.  Provide copies of signed Purchase and Sale Agreement for office file.
96.  Fax copies of Purchase and Sale Agreement to lender.
97.  Advise Seller in handling additional offers to purchase submitted between
  contract and closing.  
98.  Change FMLS status to “Sale Pending.”
99.  Assist Buyer with obtaining financing and follow up as necessary.
100. Fax copies of executed Purchase and Sale Agreement and all addendums to
        closing attorney.

Tackling the loan process

101. Follow loan processing through to the underwriter.
102. Contact lender weekly to ensure processing is on track.
103. Relay final approval of Buyer’s loan application to Seller.

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Home inspection

104. Coordinate Buyer’s professional home inspection with Seller.
105. Coordinate home inspector(s)’ entry into property.
106. Coordinate termite inspection, if required.
107. Coordinate mold inspection, if required.
108. Coordinate Radon test, if required.
109. Coordinate lead-based paint test, if required.
110. Coordinate Dekalb County inspection(s) and paperwork relative to the “Inefficient
      Plumbing Fixtures Replacement Plan Ordinance”.     
111.  Review home inspector’s report.
112.  Assist Seller with identifying and negotiating with trustworthy contractors for
required repairs.
113.  Coordinate Buyer’s inspector’s re-inspections.

The appraisal

114.  Schedule appraisal.
115.  Provide comparable sales used in market pricing to appraiser.
116.   Follow up on appraisal.
117.   Assist Seller in questioning appraisal report if it seems too low.
118.   Assist Seller, if appraisal remains low, in negotiating a favorable, alternate sales
        price or plan with the Buyer to consummate a sale.

Closing preparations and duties

119.   Coordinate closing process with Buyer’s agent and lender.
120. Update closing forms and files.
121.   Ensure all parties have all forms and information needed to close the sale.
122. Attempt to select location for closing.
123. Confirm closing date and time and notify all parties.
124. Assist in solving any title problems (boundary disputes, easements, etc.) or in
      obtaining death certificates, etc as needed for a successful closing.     
125. Work with Buyer’s agent in scheduling and conducting Buyer’s walk through
prior to closing.
126. Research all tax, HOA, utility (if possible), and other applicable prorations.
127. Request final closing figures from closing attorney.
128. Receive and carefully review HUD1 Statement to ensure accuracy.
129. Confirm Buyer and Buyer’s agent received hazard insurance commitment.
130. Coordinate the forwarding of closing documents to absentee Seller as may be
required.
131. Coordinate closing with Seller’s next purchase.
132. Provide “Home Owners Warranty” confirmation at closing, if applicable.
133. Confirm earnest money deposit disposition with closing attorney.
134. Endeavor to have no “surprises” at closing so that Seller receives a net proceeds
        check at closing.       
135. Refer Sellers to one of the best agents at their destination, if applicable.
136. Change FMLS status to Sold.  Enter sale date, price, selling Broker and agent’s
ID numbers, etc.

Follow up after closing

137. Answer questions about filing claims with Home Owner Warranty company
        if requested.       
138. Attempt to clarify and resolve any repair conflicts if Buyer is dissatisfied.
139. Respond to any subsequent calls and provide any additional information
required from office files.

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