Why Use a Realtor®?

Andrew Biggin is a certified REALTOR®.

Before selecting a broker to represent you as a seller, you should know not every real estate agent or broker is a REALTOR®. This term and the familiar Block “R” logo are trademarked by the National Association of REALTORS® and can only be used by those are REALTOR® members through their local association of REALTORS®.

All REALTORS® are state-issued licensees as agents or brokers, but the major difference between a “real estate licensee” and a REALTOR® is that REALTORS® have taken an oath to subscribe to a stringent, enforceable Code of Ethics with Standards of Practice that promote the fair, ethical and honest treatment of all parties in a transaction. Non-member licensees have taken no such oath and are not morally bound to the ethical practices and principles set for in the REALTOR® Code. For that extra measure of peace of mind, ensure the individual seeking to represent you is both a real estate licensee and a REALTOR®.

The Critical Role of the REALTOR® Representing the Seller
Following are the full-service actions, steps and processes that are typically provided by a Breckenridge Associates Real Estate REALTOR®, when representing you as the seller.

Pre-Listing Activities
1.)     Make appointment with seller for listing presentation
2.)     Research all comparable currently listed properties
3.)     Research sales activity for past 18 months from MLS and public records
4.)     Research "Average Days on Market" for this property of this type, price range and  
5.)     Download and review property tax roll information
6.)     Prepare "Comparable Market Analysis" (CMA) to establish fair market value
7.)     Obtain copy of subdivision plat/complex lay-out
8.)     Research property's ownership and deed type
9.)     Research property's public record information for lot size and dimensions
10.)   Research and verify legal description
11.)   Research property's land use coding and deed restrictions
12.)   Research property's current use and zoning
13.)   Perform exterior "Curb Appeal Assessment" of subject property
14.)   Confirm current public schools and analyze impact of schools on market value

Listing Appointment
15.)   Give seller an overview of current market conditions and projections
16.)   Review agent's and company's credentials and accomplishments in the market
17.)   Present CMA results to seller, including comparables, solds, current listings and     
         expired listings
18.)   Offer pricing strategy based on professional judgment and interpretation of current 
         market conditions
19.)   Discuss marketing goals and marketing plan with seller
20.)   Explain market power and benefits of Multiple Listing Service (MLS)
21.)   Explain market power of web marketing, IDX and REALTOR.com
22.)   Explain the work the brokerage and agent do "behind the scenes" and agent's 
         availability/seller expectations
23.)   Explain agent's role in taking calls to screen for qualified buyers and protect seller 
         from curiosity seekers
24.)   Review and explain all clauses in Listing Contract and Addendum, formalizing 

Once Property is Under Listing Agreement
25.)   Review current title information
26.)   Measure overall and heated square footage
27.)   Measure interior room sizes
28.)   Confirm lot size via owner's copy of certified survey if available
29.)   Note any and all unrecorded property lines, agreements, easements
30.)   Obtain and review house plans, if applicable and available
31.)   Order plat map for retention in property's listing file
32.)   Prepare showing instructions for buyers' agents and agree on showing time
         window with seller
33.)   Obtain current mortgage loan(s) information: companies and loan account
34.)   Verify current loan information with lender(s)
35.)   Check assumability of loan(s) and any special requirements
36.)   Discuss possible buyer financing alternatives and options with seller
37.)   Review current appraisal if available
38.)   Identify Home Owner Association manager if applicable
39.)   Verify Home Owner Association Fees with manager – mandatory or optional and  
         current annual fee
40.)   Order copy of Homeowner Association bylaws if applicable
41.)   Research electricity availability and supplier's name and phone number
42.)   Calculate average utility usage from last 12 months of bills
43.)   Research and verify city sewer/septic tank system
44.)   Water System: calculate average water fees or rates from last 12 months of bills
45.)   Well Water: confirm well status, depth and output from Well Report
46.)   Natural Gas: research/verify availability and supplier's name and phone number
47.)   Verify security system, current term of service and whether owned or leased
48.)   Verify if seller has transferable Termite Bond
49.)   Ascertain need for lead-based paint disclosure
50.)   Prepare detailed list of property amenities and assess market impact
51.)   Prepare detailed list of property's "Inclusions and Conveyances with Sale"
52.)   Compile list of completed repairs and maintenance items
53.)   Send "Vacancy Checklist" to seller if property is vacant
54.)   Explain benefits of Home Owner Warranty to seller
55.)   Assist sellers with completion and submission of Home Owner Warranty 
56.)   Verify if property has rental units involved – if so verify all leases, rents, deposits 
         and inform/discuss showings with tenants
57.)   Arrange for installation of yard sign
58.)   Assist seller with completion of Seller's Disclosure Form
59.)   Review results of Curb Appeal Assessment with seller and provide suggestions to 
         improve salability
60.)   Review results of Interior Décor Assessment and suggest changes in an effort to 
         shorten days on market

Entering Property in Multiple Listing Service Database
61.)   Prepare MLS Profile Sheet – REALTOR® is responsible for "quality control" and 
         accuracy of listing data
62.)   Enter property data from Profile Sheet into MLS Listing Database
63.)   Add property to company's Active Listings list
64.)   Provide seller with signed copies of Listing Agreement and MLS Profile Sheet Data  
65.)   Take professional real estate photos for upload into MLS and use in flyers

Marketing The Listing
66.)   Implement marketing campaign – create print, collateral, direct mail, web ads, 
         emails with seller's input
67.)   Coordinate showings with owners, tenants and other REALTORS®.
68.)   Install electronic lock box if authorized by owner
69.)   Review comparable MLS listings regularly to ensure property remains competitive  
         in price, terms, conditions and availability
70.)   Mail Out "Just Listed" notice to all neighborhood residents
71.)   Advise Network Referral Program of listing
72.)   Provide marketing data to buyers coming through international relocation and 
         referral networks
73.)   Submit ads to company's participating Internet real estate sites
74.)   Price changes conveyed promptly to all databases and Internet groups
75.)   Loan information reviewed and updated in MLS as required
76.)   Feedback e-mails/faxes sent to buyers’ agents after showings
77.)   Discuss feedback from showing agents with seller to determine if changes will 
         accelerate the sale
78.)   Place regular update calls to seller to discuss marketing and pricing

The Offer and Contract
79.)   Receive and review all Offer to Purchase contracts submitted by buyers or buyers' 
80.)   Evaluate offer(s) and prepare a "net sheet" on each for the owner for comparison
81.)   Counsel seller on offers with merits and weakness of each component of each
82.)   Work with buyers' agents to review buyer's qualifications and discuss offer and/or 
         seller’s disclosure
83.)   Confirm buyer is pre-qualified by calling Loan Officer
84.)   Negotiate and/or finalize all offers on seller's behalf, setting time limit for loan 
         approval and closing date
85.)   Prepare and convey any counteroffers, acceptance or amendments to buyer's
86.)   Coordination of contract and all addendums to closing attorney or title company
87.)   Record and promptly deposit buyer's earnest money in escrow account
88.)   Disseminate "Under-Contract Showing Restrictions" as seller requests
89.)   Deliver copies of fully signed Offer to Purchase contract to seller
90.)   Coordinate Offer to Purchase contract with lender
91.)   Advise seller in handling additional offers to purchase submitted between contract 
         and closing
92.)   Change status in MLS to "Sale Pending"
93.)   Review buyer's credit report results – advise seller of worst and best case
94.)   Provide credit report information to seller if property will be seller-financed
95.)   Order septic system inspection, if applicable
96.)   Receive and review septic system report and assess any possible impact on sale
97.)   Deliver copy of septic system inspection report lender and buyers’ agent
98.)   Deliver Well Flow Test Report copies to lender and buyers’ agent
99.)   Verify termite inspection ordered
100.) Verify mold inspection ordered if required

Tracking the Loan Process
101.) Confirm Verifications Of Deposit and buyers’ employment have been returned
102.) Follow Loan Processing Through the buyers’ agent
104.) Contact Buyers’ agent weekly to ensure processing is on track
105.) Relay final approval of buyer's loan application to seller

Home Inspection
106.) Coordinate buyer's professional home inspection with seller
107.) Review home inspector's report
108.) Explain seller's responsibilities with respect to loan limits and interpret any clauses 
         in the contract
109.) Ensure seller's compliance with Home Inspection Clause requirements
110.) Recommend or assist seller with identifying and negotiating with trustworthy 
         contractors to perform any required repairs
111.) Negotiate payment and oversee completion of all required repairs on seller's 
         behalf, if needed

The Appraisal
112.) Coordinate appraisal with buyers’ agent
113.) Assist seller in questioning appraisal report if it seems too low

Closing Preparations and Duties
114.) Contract is signed by all parties
115.) Coordinate closing process with buyer's agent and lender
116.) Ensure all parties have all forms and information needed to close the sale
117.) Select location where closing will be held
118.) Confirm closing date and time and notify all parties
119.) Assist in solving any title problems (boundary disputes, easements, etc.) or in  
         obtaining Death Certificates
120.) Work with buyer's agent in scheduling and conducting buyer's final walk-thru prior  
         to closing
121.) Research all tax, HOA, utility and other applicable prorations
122.) Request final closing figures from closing agent (attorney or title company)
123.) Receive and carefully review closing figures to ensure accuracy of preparation
124.) Forward verified closing figures to buyer's agent
125.) Request copy of closing documents from closing agent
126.) Confirm buyer and buyer's agent have received title insurance commitment
127.) Provide "Home Owners Warranty" for availability at closing
128.) Review all closing documents carefully for errors
129.) Forward closing documents to absentee seller as requested
130.) Review documents with closing agent (attorney)
131.) Provide earnest money deposit check from escrow account to closing agent
132.) Coordinate this closing with seller's next purchase and resolve any timing  
133.) Have a "no surprises" closing so that seller receives a net proceeds check at  
134.) Refer sellers to one of the best agents at their destination, if applicable
135.) Change MLS status to sold – enter sale date, price, selling broker and agent's ID 
         numbers, etc.

Follow Up After Closing
136.) Answer questions about filing claims with Home Owner Warranty company if 
137.) Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied