Seller’s Real Estate Agent Responsibilities
There are many moving parts to a full Real Estate transaction. These are some items that we manage so you don’t have to.
REPRESENTING SELLERS
- Provide fiduciary responsibilities to our sellers 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 sellers
- Manage all details of the transaction protecting clients timelines, deadlines and contingencies
- 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 to bring fiduciary value to our sellers 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
- 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 sellers’ emotions
- 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
- Pay for, schedule & manage staging event
- Pay for & 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
