Special offer

Five Things You Should Do When You Take A Listing...

By
Real Estate Agent with RE/MAX Compass 0524642

1. Open title. Don't wait until you get an offer. Title defects, clouds and other issues can take weeks or months to cure. You don't want to lose a buyer (who doesn't want to hang around for the solution) because of the oversight.  When you list the home on the MLS you can let other agents know that "title is open." The proactive effort on your part will make the agent representing the buyer feel better about the title commitment already being in.

2. Upload all disclosures. The sellers disclosure, water district notice and hoa addendum should be uploaded immediately. If there are any special instructions, additional documents or specifications (list of improvements) or anything else, they should all be included when you list the property on the MLS. Don't make the other agent ask, wait or pound his fist repeatedly asking for the documents. The timing of when property disclosures are delivered  is critical. Don't offer a sellers disclosure a week before closing. The buyers agent may be inexperienced and not even know what the sellers disclosure is. 

3. Ask your seller to review the information you provided to the MLS. NOW is the perfect time to catch any errors or mistakes. You're human. Don't be too proud or controlling to not ask for opinion. Your seller will likely catch a thing or two. I've made plenty of mistakes! I'd rather find out upfront than the day of closing (or after closing) that I said there was a water sprinkler when there wasn't!

4. NEVER forget to discuss the possibility of a leaseback with your seller, especially if you plan on representing them in a purchase!! Your seller doesn't want to move twice. Don't wait until all negotiations are complete to come back begging for a leaseback from the buyers agent. You leave yourself no leverage and you'll look incompetent and unprofessional for not thinking and planning ahead. And don't even think about blaming it on the title company. 

5. Finally, make sure the key the seller gave you works! OUCH! I always test the key before walking out the door! If you need to WD40 that lock, now is the time. The last thing you need is for an agent not be able to show your listing because the key is jammed or it isn't the right key at all. Make sure the seller hasn't given you their only copy (thinking they'll just come and go through the garage door). I've had to get up in the middle of the night to let "sellers in" because I had their only copy. 

 

Happy Selling! 

Posted by
Greg Nino
Realtor
RE/MAX Compass 
Direct & Text 7 days a wk: 832-298-8555 
 
 
Realtor since 2004
Mediator & Arbitrator for the TX Assoc. of Realtors
Member of the Professional Standards Committee for the TX Assoc. of Realtors
Arbitrator for the Comptroller's office for the State of TX for Arbitration of Property Tax Values

 Member of the RE/MAX Hall of Fame & Platinum Club

 

The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments disclaim any implied warranty or representation about it's accuracy, completeness or appropriateness for any particular purpose. All information is copywritten and the property of Greg Nino.  

Comments(18)

Kathy Streib
Cypress, TX
Home Stager/Redesign

Greg- all good points and I'd bet some of these are not thought of until way into the selling process.  If an agent addresses all 5, then it will go a long way towards a smooth transaction. 

Aug 04, 2014 02:49 AM
Liz and Bill Spear
Transaction Alliance 513.520.5305 www.LizTour.com - Mason, OH
Transaction Alliance Cincinnati & Dayton suburbs

Greg, Solid block and tackle elements to take care of right out of the chute.  I can't stand showing homes and having trouble opening the door because of a bad key or lock.  You can't sell what you can't get into without a B&E charge.

Aug 04, 2014 02:59 AM
Randy Shamburger
Movement Mortgage - Greenville, SC
FHA, VA, USDA and Conventional Mortgage Expert

Great information, thanks for sharing.

Have a Big day,

Randy

Aug 04, 2014 03:07 AM
Pam Jank
Coldwell Banker Schneidmiller Realty - Coeur d'Alene, ID
Your Coeur d'Alene & North Idaho Real Estate Pro

Greg, I've always been a firm believer is "All of the Above" It sure prevents any ugly issues and/or inconveniences happening at very inopportune times.

Aug 04, 2014 03:43 AM
Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

Greg good points. I found out on the key the hard way, when my seller insisted it was fine and I listened rather than check. I also found out I need to check my lockbox, if it is electronic it needs to have sufficient life to work, and it needs to be shaded as sometimes they don't work when the sun is on them.

Aug 04, 2014 04:13 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

That is a great list and I believe I do most of them, all the time. I get tired of surprises!

Aug 04, 2014 11:18 AM
Karen Feltman
Cedar Rapids/Iowa City, IA KW Legacy Group - Cedar Rapids, IA
Relocation Specialist in Cedar Rapids, Iowa

This is a great list.  I have a similar checklist when I list a home, one for me and one for the seller.  These things may seem like common sense to you as an agent, but not to a seller that doesn't do this every day.  I am still amazed how many times #4 happens with other agents representing the buyers of my listings.  They don't plan ahead and suddenly it is up to me to "fix" their buyer's problem of where they are going to put their things because the buyer of their home wants in sooner than closing.  Is this the first time you have sold a house?  Yikes.

Aug 04, 2014 02:09 PM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Greg, some very important yet basic tips for a new listing. I will always make a duplicate of the key to keep handy especially when the house is vacant

Aug 04, 2014 02:32 PM
Sussie Sutton
David Tracy Real Estate - Houston, TX
David Tracy Real Estate for Buyers & Sellers

Great points Greg..... especially the thing about the key!

Aug 04, 2014 02:41 PM
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Greg. This is a must do list. Very smart and so efficient. Thank you.

Aug 04, 2014 10:38 PM
Doug Rogers
RE/MAX Coastal Properties - Destin, FL
Your Real Estate Resource!

And the lock should work without drama. There's nothing like the pleasure of wrestling a stubborn deadbolt in 100 degree heat. Fix the darn lock!

Aug 04, 2014 11:35 PM
Lorrie Semler, REALTOR® in the Dallas area. Call/text 972-416-3417
HomeSmart Stars - Addison, TX
Real Service. Real Results. Real Estate

In addition to your five, I add a 6th: seller coverage with a home warranty company. Several companies offer no-cost coverage; the seller only pays for service calls, not a policy.

Aug 05, 2014 12:45 AM
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Greg-This is a great list and covers some of issues that are easy to fix up front but more challenging after a house is listed.

Aug 05, 2014 02:33 AM
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

And that's just the start. I love these list, because when I read them I realize that it's 5 . . . times 10!  

Aug 05, 2014 02:38 PM
Juli Vosmik
Dominion Fine Properties - Scottsdale, AZ
Scottsdale/Cave Creek, AZ real estate 480-710-0739

Greg, I always upload docs into MLS and, more importantly, pull down title.  As to uploading docs like disclosures, I don'thave to worry about printing them out at a later time and getting all parties to sign.  As to title, well you said it - there can be so many things on there which could effect the transaction. 

Aug 06, 2014 12:36 AM
Anita Allen
Levin Rinke Realty - 850-377-4410 - Pace, FL
Your Realtor for NW Florida, Pace/Milton/Pensacola

Great list.  I add to that list seller's coverage on a Home Warranty.  It doesn't cost them anything extra and can benefit them.

Aug 07, 2014 06:50 PM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M
Greg - Several ideas that will make things easier for all parties later though we don't load disclosures to MLS usually.
Aug 08, 2014 03:22 PM
Robin Rogers
Robin Rogers, Silverbridge Realty, San Antonio, Texas - San Antonio, TX
CRS, TRC, MRP - Real Estate Investment Adviser

Excellent advice to make the transaction go more smoothly, Greg. I also upload to the MLS all my contact details so the buyer's agent can send me an offer by fax, email, or pack mule. What I don't do is specify a figure or percentage for the earnest money, as I've seen other listing agents start doing. That's negotiable.

Aug 08, 2014 11:02 PM