What do Real Estate agents do?

April 6, 2024

What We Do

There are many moving parts to a full Real Estate transaction. These are some items that we manage so you don’t have to.

GENERAL REPRESENTATION

  • Provide fiduciary responsibilities to our clients through agency laws
  • Understanding Real Estate contracts and contract law
  • Stay on top of market trends, statistics and changes to bring valuable information to our clients
  • Manage all details of the transaction protecting clients timelines, deadlines and contingencies
  • Financial & time investments up front for marketing and exposing properties for sale
  • Vetting potential buyers to ensure the safety of sellers & their property
  • Protecting clients’ interests so they are not in default of contract
  • Handling potential issues that may arise from liabilities on the premises
  • Understanding all state and federal Real Estate, Equal and Fair Housing laws
  • Understanding ongoing changes to tenants’ rights and applicable laws
  • Negotiating well to bring fiduciary value to clients based on their interests
  • Manage clients’ responses to health issues, expectations, disappointments, feelings and moods as they change
  • Manage family, partner, and other influential relationships including challenging emotional experiences
  • Manage the difficult transitions between simultaneously selling and buying by protecting clients interests
  • Manage sensitive personal situations including marriage, divorce, bankruptcy, short sales and foreclosure
  • Balance the fact that oftentimes we have multiple clients that we have a fiduciary duty to that pursue the same property.
  • Work outside of normal working hours because ‘time is of the essence’
  • Work on short notices because ‘time is of the essence’
  • Work on the contingency that the transaction will close as competing clients must agree on the terms and conditions
  • When transactions fail, start over from the beginning while encouraging positivity and managing clients’ emotions

REPRESENTING SELLERS

  • Research listing packet including deed, tax history and plat/tax assessor maps
  • Research sales activity from Local MLS Broker Marketplaces and public records databases
  • Research absorption rates for property of this type, price range, and location
  • Research property’s ownership and deed type
  • Research property’s public record information for lot size and dimensions
  • Research and verify legal description
  • Research property’s current use and zoning, deed restrictions
  • Verify legal names of owner(s) in county’s public property records & deed of trust or contract
  • Perform exterior Curb Appeal & Neighborhood Assessment of subject property
  • Confirm current public schools and explain impact of schools & neighbors on market value
  • Tour property & present staging consultation and/or staging services to seller
  • Manage any pre listing repairs, updates or maintenance issues
  • Review agent’s and company’s credentials and accomplishments in the market
  • Present company’s profile and position or niche in the marketplace
  • Present preliminary CMA to seller, including comparable properties, sold properties, current listings, and expired listings
  • Meet with seller & present listing presentation
  • Offer pricing strategy with updates to CMA based on tour of home and updates, upgrades, professional judgment, and current market conditions
  • Discuss goals & motivation with seller to market effectively
  • Discuss marketing of MLS systems, Internet Data Exchanges and other Real Estate websites
  • Screen to qualify buyers and protect seller from curiosity seekers or dangerous individuals
  • Prepare for listing presentation including studying market analysis and absorption statistics
  • Present and discuss strategic marketing plan
  • Discuss service plan
  • Discuss transaction process and agency brokerage relationships
  • Review and explain clauses in listing contract and addendums
  • Gather square footage, measure rooms and overall heated square footage as required
  • Discuss any unrecorded property liens, agreements or easements
  • Obtain house plans, if applicable and available
  • Discuss showing instructions for buyers’ agents and showing times with seller
  • Discuss possible buyer financing alternatives and options with seller
  • Review current appraisal if available
  • Gather Home Owner Association information,  if applicable
  • Order copy of HOA bylaws, if applicable
  • Gather all utility service and cost information
  • Gather Well Report, if applicable
  • Verify security system, current terms of service and whether owned or leased
  • Discuss implications for the Federal Lead-Based Paint disclosure law
  • Discuss the state requirements for smoke and carbon monoxide detectors
  • Prepare detailed list of property amenities and assess marketability 
  • Confirm detailed list of property’s inclusions and conveyances with sale
  • Compile list of completed and future repairs and maintenance items
  • Explain Homeowner Warranty options to clients
  • Have extra key made for lockbox and one for file
  • Verify if property has rental units involved.  FHA guidelines for condos
  • If the property is rented,, make copies of all leases and prepare seller for tenant legal protections
  • Verify all rents and deposits
  • Inform tenants of listing and discuss how showings will be performed
  • Installation of yard sign and lockboxes
  • Load listing into transaction management software program
  • Submit all listing paperwork and disclosures to company for broker review and approval
  • Enter property data from Profile Sheet into Local MLS Broker Marketplaces Database
  • Create property Virtual Tour web site platform page
  • Add property to company’s web site
  • Provide seller copies of the listing agreement 
  • Schedule & manage staging event
  • Schedule photo and video shoots
  • Upload all media to MLS and websites
  • Create all marketing ads complying with all state and federal equal and fair housing laws
  • Coordinate showings with owners, tenants, and other agents.
  • Return all prospecting calls including filtering scam callers, fraudsters and phishing expeditions
  • Prepare mailing and emailing marketing campaigns
  • Order & mail Just Listed postcards and marketing materials to network and neighborhood residents
  • Prepare fliers and feedback reports
  • Review comparable Local MLS Broker Marketplaces regularly to ensure property remains relevant
  • Order property counter display brochures
  • Order exterior fliers for front of property 
  • Present property to other agents within networking events
  • Advertise on social media, magazine, and other means as per marketing plan
  • Ensure listing has syndicated on web sites
  • Upload specific documents to the MLS documents section
  • Schedule & advertise Open Houses, if applicable
  • Manage showings and provide marketing data to potential buyers
  • Provide Special Feature displays for marketing, if applicable
  • Manage price changes and other change orders
  • Reprint or order supply marketing materials as needed
  • Gather and present feedback from buyers’ agents after showings
  • Discuss with sellers any feedback from showings to determine if changes are needed
  • Review weekly market studies, competition reports and seller’s strategy
  • Send marketing and exposure reports to sellers
  • Regular communication with seller to discuss interest, marketing and pricing
  • Manage changes in system databases
  • Review, present and explain all details of Offers to Purchase contracts submitted 
  • Evaluate offer(s) and prepare a net sheet for the sellers for comparison purposes
  • Explain merits and weakness of each offer to sellers based on research of buyers
  • Contact buyers’ agents to review buyer’s qualifications and discuss buyer’s motivation & potential red flags
  • Contact buyers’ lenders to qualify buyers’ abilities
  • Deliver Property Disclosures to buyer’s agent or buyer
  • Open Escrow and order Title Report
  • Confirm buyer’s earnest money deposit in escrow account so there’s no breach of contract
  • Communicate under-contract showing restrictions as seller requests
  • Deliver copies of fully signed Offer to Purchase contract to seller
  • Confirm copies of Offer to Purchase contract delivered to lender
  • Submit signed contracts for office broker review and approval
  • Negotiate all offers per seller’s direction on seller’s behalf
  • Prepare and convey counteroffers, acceptance or amendments to buyer’s agent
  • Provide copies of contract and all addenda to the closing title company
  • Ensure buyer’s agent has all signed documentation
  • Keep status updated in all MLS and web site systems
  • Update transaction management program as needed throughout the process
  • Manage any transactional details for land sales contracts, if applicable
  • Communicate with lender & follow loan processing through to the underwriter process
  • Advocate for sellers if there are any buyer’s appraisal issues
  • Constantly communicate with buyer’s lender to ensure there are no surprises
  • Review Preliminary Title Report and identify any clouds that may affect the sale
  • Manage entry for all inspection appointments
  • Receive and review all inspection reports, if requested by seller, and discuss with client
  • Discuss sellers and buyers responsibilities & expectations regarding inspection appointments
  • Ensure seller’s compliance with some inspection processes
  • Assist seller with identifying licensed contractors to perform any repairs and compliance of repairs
  • Understanding Oregon Contractor Control Board rules and laws within Real Estate transactions
  • Negotiate payment, and oversee all required repairs on seller’s behalf, if needed
  • Schedule & facilitate appraisal appointment
  • Provide to appraiser any comparable sales used in market pricing
  • Confirm closing process with buyer’s agent and lender
  • Schedule final signing and closing steps
  • Assist sellers with understanding closing documents
  • Meet with seller and escrow officer to sign closing documents
  • Assist in solving any title problems or in obtaining trust documents and death certificates
  • Scheduling buyer’s final walk-thru prior to closing, if applicable
  • Double check all tax, homeowners’ association dues, utility, and applicable prorations
  • Review & approve final closing figures from closing escrow agent
  • Confirm buyer and buyer’s agent have received title insurance commitment
  • Provide homeowners warranty information, if applicable
  • Ensure all parties have all documents to close their files
  • Manage any and all transitory situations with clients between simultaneously buying and selling
  • Ensuring seller receives a final net-proceeds check at closing
  • Update sold details to all MLS and Website marketplaces 
  • Enter completion into transaction management program
  • Follow up with any warranty paperwork for claims in the future
  • Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied
  • In the case of rentals, verify all deposits and prorated rent rolls are reflected accurately on the closing statement and transferred appropriately
  • Transfer of keys, codes and any other pertinent information to the buyers
  • Communicate with buyer’s agents to work through any surprises or challenges after closing.
  • Follow up consistently to provide education, contractors, market updates and other resources that benefit our clients

REPRESENTING BUYERS

  • Consult with buyers to learn their goals and interests
  • Discuss Agency Relationships and Buyer Broker Agreements
  • Qualify buyers with their abilities to purchase
  • Discuss the home buying process and funnel process
  • Discuss the purchase contracts and addenda
  • Discuss all buyer contingencies and protections
  • Consult with any listing agents to try to gather as much information to position the buyers in the best light
  • Discuss strategies to craft the best offer specifically for the sellers and property that buyers are interested in
  • Discuss offer strategies to protect buyers interests taking into consideration the proper process of paying for inspections and appraisals
  • Consult with buyer’s lender to ensure the proper verbiage is used in crafting offer for buyers
  • Advised by lender to take into account any important and confidential information to protect buyers interests
  • Consult with lender to understand buyer’s lending guidelines and restrictions
  • Consult with buyer over their lender’s estimate
  • Search through the many properties in buyer’s given criteria to find the most suitable for buyers
  • Network with other agents to identify off market properties or coming soon pocket listings
  • Tour potential properties with buyers
  • Perform a market analysis on interested property to ensure value
  • Research property’s ownership and deed type
  • Research property’s public record information for lot size and dimensions
  • Research and verify legal description
  • Research property’s current use and zoning, deed restrictions
  • Consult with surveyor if needed
  • Verify legal names of owner(s) in county’s public property records & deed of trust or contract
  • Craft offers with respect to the fiducial responsibilities to the buyer’s interests
  • Understand the many lending guidelines ahead of time that would prohibit buyers to purchase certain properties
  • Discuss the specific items that appraisers are looking for that would be problematic for buyers
  • Discuss certain limitations that are revealed through CC&Rs that may be burdensome to buyers
  • Ensure that any credits from the seller are allocated to the buyer and not wasted
  • Ensure the listing side has all signed documents and signed disclosures
  • Ensure buyers have submitted proper earnest money so they are not in default
  • Research any geotechnical, slide or flood plain issues
  • Advise researching against any insurance CLUE reports
  • Schedule all inspections including full home, pest & dry rot, termite, lead based paint, sewer or septic, asbestos, radon, mold, foundation & well system inspections, if applicable within the timeframes allowed
  • Assist all inspectors to fully inspect all areas of concern for the buyer
  • Advise buyer on further specialty inspections 
  • Ensure seller’s compliance with some inspection processes
  • Receive all property disclosures and consult with buyer any areas of concern
  • Negotiate any repair issues on buyer’s behalf
  • Confirm all repairs are completed by licensed & bonded contractors as applicable by law
  • Understanding Oregon Contractor Control Board rules and laws within Real Estate transactions
  • Confirm buyers are satisfied with repairs through reinspection process
  • Examine preliminary title report to ensure there are no clouds unacceptable to buyers
  • Coordinate the appraisal inspection
  • Advocate for the buyer if there are any lender or appraisal issues
  • Manage any transactional details for land sales contract, if applicable
  • Prepare a utility sheet for buyers information
  • Ensure buyer’s insurance agent has issued insurance binder
  • Ensure seller is not a foreign investor to protect buyers potential tax penalty
  • Consult with buyer regarding the closing disclosure documents
  • Schedule closing appointment with buyers and escrow closing officer
  • Ensure the closing statement is accurately calculated for buyer
  • Ensure buyer brings in the correct amount of funds at closing and in the proper form
  • Guide buyer to location of signing and preparing them for the expectations for closing
  • Present utility information sheet to buyers
  • Present keys and possession to the buyers
  • Ensure sellers leave all fixated and personal property included in the transaction for buyers
  • In the case of a rental, ensure the rent rolls and deposits have been transferred to the buyer
  • If rental, ensure sellers understand current landlord/tenant laws to ensure proper transfer of possession
  • Ensure the property is in expected condition upon possession
  • Follow up with buyers to ensure there are no surprises and help facilitate closure to any challenges
  • Ensure buyers receive their Title Insurance Policy
  • Follow up consistently to provide education, contractors, market updates and other resources that benefit our clients

We understand that the services for good Real Estate Professionals can be expensive. Here is an explanation as to why the costs have traditionally been based on a contingency fee.

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Paramount Oregon Paramount Oregon
1008 12th St. SE Salem OR 97302
(503) 385-1518
© 2024 Paramount Real Estate Services
Principal Brokers & Brokers Licensed in the State of Oregon