Mimi Foster Feith
Broker / Owner

5525 N. Union Blvd.
Suite 100
Colorado Springs, CO 80918

(719) 475-7570 Office
(866) 338-9069 Fax

FREE Pre-Approval


Mimi Foster Feith - Vineyard Propertes

   
 
Why Should a SELLER Use a REALTORŪ?
Surveys show that many home Sellers and home Buyers are not aware of the true value a REALTORŪ provides during the course of a real estate transaction.

At the same time, regrettably, REALTORSŪ have generally assumed that the expertise, professional knowledge, and just plain hard work that go into bringing about a successful transaction were understood and appreciated.

Many of the most important services and steps are performed behind the scenes by either the REALTORŪ or the brokerage staff and traditionally have been viewed simply as part of their professional responsibilities to the client. But without a REALTORŪ, the transaction is often placed in jeopardy. Many people think that with the advent of the internet that they can handle a real estate transaction on their own. Despite advertising claims to the contrary, the internet is not an experienced real estate professional. It cannot consult, counsel, advise, have knowledge of local laws and market conditions, make judgments, "own" the result, or most importantly, understand your individual goals and needs. It cannot care about you as a Client.

Listed here are more than 200 typical actions, research steps, procedures, processes, and review stages in a successful residential real estate transaction that are normally provided by full service real estate brokerages in return for their sales commission. Depending on the transaction, some may take minutes, hours, or even days to complete, while some may not even be needed.

More importantly, they reflect the level of skill, knowledge, and attention to detail required in today's real estate transaction, underscoring the importance of having help and guidance from someone who fully understands the process - a REALTORŪ.

REALTORSŪ are pledged to uphold the stringent, enforceable tenants of the REALTORŪ Code of Ethics in their professional dealings with the public. Not every real estate licensee holds REALTORŪ membership. Make sure yours does!

This list is by no means an attempt to set forth a complete list of services, as these may vary within each brokerage and each market. Many REALTORSŪ routinely provide a wide variety of additional services that are as varied as the nature of each transaction.

    PRE-LISTING
  1. Make appointment with Seller for listing presentation
  2. Pull property City and tax records
  3. Pull old MLS listing, if applicable
  4. Order Owner & Encumbrance Report
  5. Research property's current use and zoning
  6. Research and verify legal description of property
  7. Pull comps on Active, Sold, Pending, Withdrawn, Expired, and Cancelled Listings
  8. Research "Average Days on Market" for property of this type and location
  9. Prepare Comparative Market Analysis
  10. Print Map of property and comps
  11. Prepare Agency Disclosure
  12. Prepare Listing Contract
  13. Prepare Seller's Property Disclosure
  14. Prepare Closing Instructions
  15. Prepare Lead-Based Obligations of Seller
  16. Prepare Lead-Based Paint Disclosure
  17. Prepare Square Footage Disclosure
  18. Prepare Seller's Request for Verification of Loan Information
  19. Prepare Showing Instructions
  20. Prepare Pre-Listing Packet
  21. Order delivery of Pre-Listing Packet
  22. Confirm time to meet with Seller

    LISTING APPOINTMENT
  23. Give Seller an overview of current market conditions and projections
  24. Discuss Comparative Market Analysis
  25. Discuss pricing strategy based on professional judgment and market
  26. Discuss goals with Seller to market effectively, including schedule for selling
  27. Explain role in taking calls to screen for qualified Buyers
  28. Discuss safety of lock box
  29. Discuss Agency
  30. Discuss Contract and all other disclosures
  31. Discuss availability of Home Owner's Warranty
  32. Have Seller sign all paperwork
  33. Assist Seller with completion of Seller's Property Disclosure form
  34. Discuss things that need to be done in home
  35. Staging Packet to Seller
  36. Get loan payoff information
  37. Show Homefeedback.com to Seller
  38. Have Seller choose preferred flyer template
  39. Get copies of leases, if applicable
  40. Ask for floor plan, upgrades, special features, detailed list of amenities

    AFTER LISTING APPOINTMENT
  41. Two copies of all documents - original to office, copies to Mimi and Seller
  42. Prepare Seller Net Sheet
  43. Measure interior rooms
  44. Measure exterior of home
  45. Take interior pictures after Staging
  46. Take exterior pictures in good weather
  47. Select best pictures, crop, and download
  48. Put in yard sign and directionals
  49. Get extra key and install Lockbox
  50. Enter listing to MLS and verify all information
  51. Download best pictures to MLS
  52. Download disclosures to MLS
  53. Make copies of disclosures
  54. Leave several copies of disclosures at property
  55. Check MLS for Matching Buyers
  56. Design flyers for Matching Buyers to mail to Realtors
  57. Input Seller into Outlook
  58. Assist Seller in Staging home for maximum price and quickest sale
  59. Make Showing Sheet for front desk
  60. Design mailers and postcards to Realtors
  61. Design and print flyers
  62. Design "Just Listed" cards and "Pick Your Neighbors"
  63. Mail Realtor, Neighbor, and Matching flyers/cards
  64. Design, print, and deliver flyers
  65. Compile list of completed repairs and maintenance items Seller has done
  66. Verify HOA fees and disclosures, if applicable
  67. Mail copy of Contract to Seller - include MLS printout and projected Seller Net Sheet
  68. Call in HOW, if applicable
  69. Listing to www.Realtor.com
  70. Listing to www.Vineyard-Properties.com
  71. Input listing into Homefeedback
  72. Make "Special Features" cards
  73. Calculate average utility usage for last twelve months
  74. Set any number of showings
  75. Return all phone calls - weekdays and weekends
  76. Verify with Seller after first few that Showing Instructions are being followed
  77. Add daily activities to Homefeedback
  78. Call Seller weekly to keep updated
  79. Reprint and supply flyers promptly as needed
  80. Input all showings into Homefeedback
  81. Discuss feedback regularly with Seller
  82. Discuss Open House
  83. Show house any number of times to prospective Buyers
  84. If interested, get Buyer pre-qualified
  85. Do CMA every four weeks
  86. Call Seller with strategy if CMA different
  87. Amend/Extend if monetary change
  88. Change MLS, if applicable
  89. If price changed, send out email BLAST to previous Agents who showed home
  90. Reprint flyers
  91. Deliver flyers

    CONTRACT NEGOTIATIONS
  92. Receive and thoroughly review all offers submitted
  93. Pre-negotiate with other Agent before writing, if applicable
  94. Discuss Buyer's financial qualifications, terms, and times
  95. Discuss exclusions, dates, etc. with other Agent
  96. Review Contract Addendum thoroughly
  97. Evaluate offer(s) and prepare a "Net Sheet" on each offer for Seller
  98. Discuss offer with Seller
  99. Negotiate the offer and options
  100. Get pre-qualification letter
  101. Sign offer or prepare Counterproposal, if necessary
  102. Prepare and convey any counteroffers, acceptances, or amendments
  103. Acceptance Deadline Time
  104. Renegotiate however many times necessary and finalize
  105. Make applicable copies
  106. Convey signed copies to other Agent

    AFTER CONTRACT SIGNED BY ALL PARTIES
  107. Order Title work
  108. Make copy of Earnest money and Contract
  109. Deliver check and Contract to Title Company
  110. Notate dates on calendar
  111. Send date sheet to Seller
  112. Do necessary paperwork for unusual conditions
  113. If Seller and Buyer both our clients, do Change of Status Notice
  114. Copies of leases and damage deposit receipts, if applicable
  115. Order payoff
  116. Seller's Property Disclosure Deadline
  117. Inspection Objection Deadline
  118. Resolution Deadline
  119. Property Insurance Objection Deadline
  120. Change status on MLS and print to verify
  121. Review all paperwork for signatures
  122. Get all necessary signatures
  123. If mail-out, get instructions and addresses
  124. Notify Title Company of Mail out
  125. If POA needed, get original from Title Company
  126. Get POA signed and notarized
  127. "Under Contract" info letter to Seller
  128. Signed copies of Contract to Seller
  129. Remind Seller to notify Utility Company to stop service and do a "final read"
  130. Discuss with Seller advantages/disadvantages to continued showings
  131. Discuss what happens if other offers come in between Contract and Closing
  132. Change showing instructions in Homefeedback
  133. Referral agent needed for Sellers new location?
  134. Resolve any Title Disputes
  135. Resolve any Off Record Matters
  136. Deliver unrecorded property information to Buyer
  137. Have Seller notify Utilities, phone, cable, etc.
  138. Mail "The Moving Guide" with Change-of-address forms to Seller
  139. Set up closing time
  140. Call Buyer's Agent and coordinate closing time
  141. Verify closing date and time and make all parties aware
  142. Mail time-verification of closing and directions to Seller
  143. Assist in solving any Title problems (boundary disputes, easements, etc.)
  144. Assist in obtaining Death Certificates, if applicable
  145. Cleaning needs (e.g. carpet, kitchen, etc.) upon move-out
  146. Discuss mover and time-frame for move-out with Seller

    HOME INSPECTION
  147. Set up Inspection
  148. Coordinate time with Seller, Agents, Buyer, Inspector
  149. Review Notice of Unsatisfactory Conditions with Seller
  150. Help Seller negotiate Inspection Objections
  151. Help Seller with repair estimates or a credit at closing
  152. Copy of Inspection Notice to file
  153. Verify prior to closing that all repairs have been made
  154. Get copies of repair receipts
  155. Fax copies of receipts to other Agent

    THE APPRAISAL
  156. Set up appraisal
  157. Coordinate time with Seller, Agents, Buyer, Appraiser
  158. Do current CMA for appraiser
  159. Meet appraiser with CMA
  160. If VA, make sure CRV ordered and completed
  161. Track Appraisal Deadline
  162. Verify appraisal completed and satisfactory
  163. If appraisal low, discuss options with Seller
  164. Discuss any conditions on appraisal with Seller
  165. Schedule final inspection on appraisal conditions, if applicable
  166. Verify all conditions met prior to closing

    TRACKING THE LOAN PROCESS
  167. All paperwork to Lender
  168. Make contact with Lender and verify Buyer information
  169. Loan Application Deadline
  170. Buyer's Credit Information Deadline
  171. Disapproval of Buyer's Credit Information Deadline
  172. Existing Loan Documents Deadline
  173. Existing Loan Documents Objection Deadline
  174. Loan Transfer Approval Deadline
  175. Contact Lender weekly to ensure processing of loan approval is on track
  176. Notify Seller of loan approval

    IF CONTRACT FALLS
  177. Fill out all necessary paperwork
  178. Re-input into MLS
  179. Sign Release of Earnest Money forms

    CLOSING PREPARATIONS AND DUTIES
  180. Schedule walk through with Buyer, Buyer's Agent, Seller, Vineyard Properties
  181. Verify with Seller how proceeds of sale being received
  182. If mail-out, verify correct mailing address
  183. Confirm mail-out with Closer
  184. Title Deadline
  185. Title Objection Deadline
  186. Survey Deadline
  187. Survey Objection Deadline
  188. Document Request Deadline
  189. CIC Documents Objection Deadline
  190. Off-Record Matters Deadline
  191. Off-Record Matters Objection Deadline
  192. Right of First Refusal Deadline
  193. Property Insurance Objection Deadline
  194. Coordinate Possession Date and Possession Time
  195. Prepare disbursement authorizations
  196. Notify Title Company of any Amend/Extends or date/money changes
  197. Last minute bills and receipts faxed to Closer including HOW, if applicable
  198. Make sure Closer has all addenda, correct price, rents, or applicable credits
  199. Discuss closing figures with Closer
  200. Check final figures for accuracy
  201. Call Seller and discuss final figures
  202. Remind Seller to bring picture ID, keys, door openers, receipts, etc.
  203. If not receiving proceeds at closing, discuss Seller's need for Cashier's Check
  204. Deal with all last-minute crises
  205. Check file for any unsigned documents
  206. Coordinate this closing with Seller's next purchase and resolve timing issues
  207. Have a "no surprise" closing so that Seller receives proceeds at closing

    POST SALE
  208. Change MLS to "SOLD"
  209. Enter sales data for County Records
  210. Shred one file
  211. Scan entire file to disc
  212. Store hard file at outside location
  213. Copy HUD-1 and put in pre-addressed envelope
  214. Remove sign, directionals, and brochure box
  215. Remove lockbox
  216. Mail out disc of all paperwork to Seller
  217. Mail out HUD-1 to Seller the following year for taxes
 
The pen is mightier than the sword, and considerably easier to write with.
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