We had a discussion the other night in my Broker licensing class about all the things and people REALTORS get to deal with during a transaction. The list we came up with was long enough to surprise everybody in the class. The broad scope of topics we have to understand and navigate is amazing. Here is what is looks like:
Seller, Buyer, Listing Contracts, Photographer, Lender, Title, Survey, Marketing, Websites, Blogging, Home inspections, Home warranty, Depatment of water resources, Contrators, Septic pump & Inspection, Propane, Home Owners Association, Pest inspections, Flood zones, Appraisal, Utilities (turning on, off and transfering), Taxes, Assessments, Liens, 1031 Exchange, Zoning, Signs, Negotiations, Earnest Money, Contracts, Addendum, Disclosures, Final Walkthrough Inspection, HUD statements, signing loan docs / Keys. Short Sales, Foreclosures, Equity Sales, Court Orders, Leases, Pre-possession and post possession, Meeting Inspectors,
Next we went over the list of costs to REALTORS:
MLS dues, Lock Box & Keys, Errors & Omission Insurance, Broker monthly charges, Brokerage Splits, Phones, Computers, Printers, Faxes, Scanners, Taxes, Car, Clothing, Advertising, Charity, Education, Professional memberships, Database management systems, Websites, signs, flyers, closing gifts.
I'm sure there are another fifty items that will come to me as soon as I post this. What other costs can you think of? What other tasks. Why do we do it?
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