http://www.chrisgrantswishes.com/responsibility.htm

Pre-Listing Activities-

1. Make appointment with seller for listing presentation.
2. Send seller a written or e-mail confirmation of listing appointment and call to confirm.
3. Review pre-appointment questions.
4. Research all comparable currently listed properties.
5. Research sales activity for past 18 months from MLS and public records databases.
6. Research “Average Days on Market” for this property of this type, price range and location.
7. Download and review property tax roll information.
8. Prepare “Comparable Market Analysis” (CMA) to establish fair market value.
9. Obtain copy of subdivision plat/complex lay-out.
10. Research property’s ownership and deed type.
11. Research property’s public record information for lot size and dimensions.
12. Research and verify legal description.
13. Research property’s land use coding and deed restrictions.
14. Research property’s current use and zoning.
15. Verify legal names of owner(s) in county’s public property records.
16. Prepare listing presentation package with above materials.
17. Perform exterior “Curb Appeal Assessment” of subject property.
18. Compile and assemble formal file on property.
19. Confirm current public schools and explain impact of schools on market value.
20. Review listing appointment checklist to ensure that all steps and actions have been completed.

Listing Appointment Presentation-

21. Give seller an overview of current market conditions and projections.
22. Review agent’s and company’s credentials and accomplishments in the market.
23. Present company’s profile and position or “niche” in the marketplace.
24. Present CMA results to seller, including comparables, solds, current listings and expireds.
25. Offer pricing strategy based on professional judgment and interpretation of current market conditions.
26. Discuss goals with seller to market effectively.
27. Explain market power and benefits of Multiple Listing Service.
28. Explain market power of IDX and Realtor.com.
29. Explain the work the brokerage and agent do “behind the scenes” and agent’s availability on weekends.
30. Explain agent’s role in taking calls to screen for qualified buyers and protect seller from curiosity seekers.
31. Present and discuss strategic master marketing plan.
32. Explain different agency relationships and determine seller’s preference.
33. Review and explain all clauses in Listing Contract and Addendum and obtain seller’s signature.


Once Property is Under Listing Agreement-

34. Review current title information.
35. Measure overall and heated square footage.
36. Measure interior room sizes.
37. Confirm lot size via owner’s copy of certified survey, if available.
38. Note any and all unrecorded property lines, agreements, easements.
39. Obtain house plans, if applicable and available.
40. Review house plans and make copy.
41. Order plat map for retention in property’s listing file.
42. Prepare showing instructions for buyers’ agents and agree on showing time window with seller.
43. Obtain current mortgage loan(s) information: companies and loan account numbers.
44. Verify current loan information with lender(s).
45. Check assumability of loan(s) and any special requirements.
46. Discuss possible buyer financing alternatives and options with seller.
47. Review current appraisal, if available.
48. Identify Home Owner Association manager, if applicable.
49. Verify Home Owner Association fees with manager: mandatory or optional and current annual fee .
50. Order copy of Homeowner Association bylaws, if applicable.
51. Research electricity availability and supplier’s name and phone number.
52. Calculate average utility usage from last 12 months of bills.
53. Research and verify city sewer/septic tank system.
54. Water system: calculate average water fees or rates from last 12 months of bills.
55. Well water: confirm well status, depth and output from well report.
56. Natural gas: research/verify availability and supplier’s name and phone number.
57. Verify security system, current term of service and whether owned or leased.
58. Verify if seller has transferable Termite Bond.
59. Ascertain need for lead-based paint disclosure.
60. Prepare detailed list of property amenities and assess market impact.
61. Prepare detailed list of property’s “Inclusions and Conveyances with Sale.”
62. Compile list of completed repairs and maintenance items.
63. Send “Vacancy Checklist” to seller if property is vacant.
64. Explain benefits of homeowner warranty to seller.
65. Assist sellers with completion and submission of homeowner warranty application.
66. When received, place homeowner warranty in property file for conveyance at time of sale.
67. Have extra key made for lockbox.
68. Verify if property has rental units involved. And, if so:
69. Make copies of all leases for retention in listing file.
70. Verify all rents and deposits.
71. Inform tenants of listing and discuss how showings will be handled.
72. Arrange for installation of yard sign.
73. Assist seller with completion of Seller’s Disclosure form.
74. “New Listing Checklist” completed.
75. Review results of curb appeal assessment with seller and provide suggestions to improve salability.
76. Review results of interior décor assessment and suggest changes to shorten time on market.
77. Take photos for Visual Tour, marketing brochure & MLS entry.


Entering Property in Multiple Listing Service Database

78. Prepare MLS Profile Sheet — agent is responsible for “quality control” and accuracy of listing data.
79. Enter property data from profile sheet into MLS listing database.
80. Proofread MLS database listing for accuracy, including proper placement in mapping function.
81. Add property to company’s active listings list.
82. Provide seller with signed copies of Listing Agreement and MLS Profile Sheet Data Form within 48 hours.
83. Take additional photos for upload into MLS and use in flyers.



Marketing the Listing

84. Create print and Internet ads with seller’s input.
85. Coordinate showings with owners, tenants, and other Realtors®. Return all calls, weekends included.
86. Install electronic lock box if authorized by owner and program with agreed-upon showing time windows.
87. Prepare mailing and contact list.
88. Generate mail-merge letters to contact list.
89. Order “Just Listed” labels and reports.
90. Prepare flyers and feedback faxes.
91. Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability.
92. Prepare property marketing brochure for seller’s review.
93. Arrange for printing or copying of supply of marketing brochures or fliers.
94. Place marketing brochures in all company agent mail boxes.
95. Upload listing to company and agent Internet site, if applicable.
96. Mail Out “Just Listed” notice to all neighborhood residents
97. Advise network referral program of listing
98. Provide marketing data to buyers coming through international relocation networks
99. Provide marketing data to buyers coming from referral network
100. Provide “Special Feature” cards for marketing, if applicable.
101. Submit ads to company's participating Internet real estate sites
102. Price changes conveyed promptly to all Internet groups
103. Reprint/supply brochures promptly, as needed.
104. Loan information reviewed and updated in MLS as required.
105. Feedback e-mails/faxes sent to buyers’ agents after showings.
106. Review weekly Market Study.
107. Discuss feedback from showing agents with seller to determine if changes will accelerate the sale.
108. Place regular weekly update calls to seller to discuss marketing and pricing.
109. Promptly enter price changes in MLS listing database.



The Offer and Contract

110. Receive and review all offer to purchase contracts submitted by buyers or buyers' agents.
111. Evaluate offer(s) and prepare a “net sheet” on each for the owner for comparison purposes.
112. Counsel seller on offers. Explain merits and weakness of each component of each offer.
113. Contact buyers’ agents to review buyer’s qualifications and discuss offer.
114. Fax/deliver Seller’s Disclosure to buyer’s agent or buyer upon request and prior to offer if possible.
115. Confirm buyer is pre-qualified by calling loan officer.
116. Obtain pre-qualification letter on buyer from loan officer.
117. Negotiate all offers on seller’s behalf, setting time limit for loan approval and closing date.
118. Prepare and convey any counteroffers, acceptance or amendments to buyer’s agent.
119. Fax copies of contract and all addendums to title company.
120. When an Offer to Purchase Contract is accepted and signed by seller, deliver signed offer to buyer’s agent.
121. Record and promptly deposit buyer’s earnest money in escrow account.
122. Disseminate “Under-Contract Showing Restrictions” as seller requests.
123. Deliver copies of fully signed Offer to Purchase Contract to seller.
124. Fax/deliver copies of Offer to Purchase Contract to selling agent.
125. Fax copies of Offer to Purchase Contract to lender.
126. Provide copies of signed Offer to Purchase Contract for office file.
127. Advise seller in handling additional offers to purchase submitted between contract and closing.
128. Change status in MLS to “Sale Pending.”
129. Update ‘back room’ programs to show “Sale Pending.”
130. Review buyer’s credit report results — advise seller of worst and best case scenarios.
131. Provide credit report information to seller if property will be seller-financed.
132. Assist buyer with obtaining financing, if applicable and follow-up as necessary.
133. Coordinate with lender on Discount Points being locked in with dates.
134. Deliver unrecorded property information to buyer.
135. Order septic system inspection, if applicable.
136. Receive and review septic system report and assess any possible impact on sale.
137. Deliver copy of septic system inspection report lender and buyer.
138. Deliver Well Flow Test Report copies to lender and buyer and property listing file.
139. Verify termite inspection ordered.
140. Verify mold inspection ordered, if required.

Tracking the Loan Process

141. Confirm verifications of deposit and buyer’s employment have been returned.
142. Follow loan processing through to the underwriter.
143. Add lender and other vendors to in-house file so administrative staff can assist with the progress of sale if necessary.
144. Contact lender weekly to ensure processing is on track.
145. Relay final approval of buyer’s loan application to seller.

Home Inspection

146. Coordinate buyer’s professional home inspection with seller.
147. Review home inspector’s report.
148. Send all involved parties copies of the inspection report.
149. Explain seller’s responsibilities with respect to loan limits and interpret any clauses in the contract.
150. Ensure seller’s compliance with Home Inspection Clause requirements.
151. Recommend or assist seller with identifying and negotiating with trustworthy contractors to perform any required repairs.
152. Negotiate payment and oversee completion of all required repairs on seller’s behalf, if needed.

The Appraisal

153. Schedule and/or coordinate appraisal.
154. Provide comparable sales used in market pricing to appraiser.
155. Follow up on appraisal.
156. Review appraisal with seller.
157. Assist seller in questioning appraisal report if it seems too low.


Closing Preparations and Duties

158. Contract is signed by all parties.
159. Coordinate closing process with buyer’s agent and lender.
160. Update closing forms and files.
161. Ensure all parties have all forms and information needed to close the sale.
162. Select location where closing will be held.
163. Confirm closing date and time and notify all parties.
164. Assist in solving any title problems (boundary disputes, easements, etc) or in obtaining death certificates.
165. Work with buyer’s agent in scheduling and conducting buyer’s final walk-thru prior to closing.
166. Research all tax, HOA, utility and other applicable prorations.
167. Request final closing figures from title company.
168. Receive and carefully review closing figures to ensure accuracy of preparation.
169. Forward verified closing figures to buyer’s agent.
170. Request copy of closing documents from title company.
171. Confirm buyer and buyer’s agent has received title insurance commitment.
172. Provide Home Owners Warranty for availability at closing.
173. Reviews all closing documents carefully for errors.
174. Forward closing documents to absentee seller, as requested.
175. Review documents with closing agent.
176. Provide earnest money deposit check from escrow account to closing agent.
177. Coordinate this closing with seller's next purchase and resolve any timing problems.
178. Have a “no surprises” closing and present seller a net proceeds check at closing.
179. Refer sellers to one of the best agents at their destination, if applicable.
180. Change MLS listing status to Sold. Enter sale date and price, selling broker and agent’s ID numbers, etc.
181. Close out listing in Crest.

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Just wondering if CD expert can add more points so we can have great checklist for future buyers/sellers.

1. Review of all the upgrade/changes in house (even by previous owners) and make sure these changes are approved by the city.
2. Review of building architecture design and spec with civil/architecture engineer.
3. Detail home inspection with specialists - certified plumber, electrician, civil engineer. Sometime they use camera/scanner or special tool to figure our inside.
4. Very clear understand at every step if something goes wrong then who is responsible for what and having all the documents ready for legal proceedings.

Really amazing!!!!

No where in your list does it say ...

Ask the Seller what he wants to do?
Ask the seller Where they want to go?
Provide the seller options to stay in thie rhome by making renovations or alterations
Provide analysis of CHIP vs HELOC programs for long term ownership

David Pylyp
Accredited Senior Agent

...

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I once made a mistake, but I was wrong about it.

Toronto board's anti-competitive behaviour keeps costs high, bureau says
http://www.cbc.ca/news/business/story/2011/05/27/competition-bureau-treb.html

Canada's Competition Bureau is suing the country's largest real estate board for anti-competitive behaviour that the bureau says keeps the costs of buying and selling homes artificially high.