Selling Tips:

Why Sell using A REALTOR®

selling your home, selling your home with a realtor, realtor

At Breckenridge Associates Real Estate all our agents are brokers and partners in the company and are certified REALTORS®. Because of their training, they are able to play a critical role in providing full, comprehensive services when selling your home and representing you as a seller.

The selling process is typically a bit lengthy, but Breckenridge Associates Real Estate REALTORS® are here to do the work for you in each of the steps: pre-listing, plan marketing and communicate how and why to sell, creating listing agreements, entering property in the MLS database, marketing the listing, offer and contract, tracking the loan process, home inspection, appraisal, and closing.

If you have any questions about the ins and outs of the home-selling process, contact any of us with your questions. You can also read more about the national REALTOR® designation below.

Sellers Agent Pre-Listing Activities:

Research all comparable currently listed properties
Research sales activity for past 18 months from MLS and public records databases
Research "Average Days on Market" for this property of this type, price range and location
Download and review property tax roll information
Prepare "Comparable Market Analysis" (CM plat/complex lay-out)
Obtain copy of subdivision type
Research property's public record information for lot size and dimensions
Research and verify legal description
Research property's land use coding and deed restrictions
Research property's current use and zoning
Perform exterior "Curb Appeal Assessment" of subject property
Confirm current public schools and analyze impact of schools on market value

Listing/ Marketing Appointment:

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

Once Property is Under Listing Agreement:

Review current title information
Confirm lot size via owner's copy of certified survey if available
Note any and all unrecorded property lines, agreements, easements
Obtain and review house plans, if applicable and available
Order plat map for retention in property's listing file
Prepare showing instructions for buyers' agents and agree on showing time window with seller
Discuss possible buyer financing alternatives and options with seller
Review current appraisal if available
Identify Home Owner Association manager if applicable
Verify Home Owner Association Fees with manager – mandatory or optional and current annual fee
Order copy of Homeowner Association bylaws if applicable
Research and verify city sewer/septic tank system
Water System: Calculate average water fees or rates from last 12 months of bills
Well Water: Confirm well status, depth and output from Well Report
Natural Gas: Research/verify availability and supplier's name and phone number
Verify security system, current term of service and whether owned or leased
Verify if seller has transferable Termite Bond
Ascertain need for lead-based paint disclosure
Prepare detailed list of property amenities and assess market impact
Prepare detailed list of property's "Inclusions and Conveyances with Sale"
Compile list of completed repairs and maintenance items
Explain benefits of Home Owner Warranty to seller
Assist sellers with completion and submission of Home Owner Warranty Application
Verify if property has rental units involved – if so verify all leases, rents, deposits and inform/discuss showings with tenants
Arrange for installation of yard sign
Assist seller with completion of Seller's Disclosure Form
Review results of Curb Appeal Assessment with seller and provide suggestions to improve salability
Review results of Interior Décor Assessment and suggest changes in an effort to shorten days on market

Entering Property in Multiple Listing Service Database:

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

Marketing The Listing:

Implement marketing campaign – create print, collateral, direct mail, web ads, and emails
Coordinate showings with owners, tenants and other agents.
Install electronic lock box if authorized by owner
Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability
Mail out "Just Listed" notice to all neighborhood residents
Advise Network Referral Program of listing
Provide marketing data to buyers coming through international relocation and referral networks
Submit ads to company's participating internet real estate sites
Price changes conveyed promptly to all databases and Internet groups
Feedback e-mails sent to buyers’ agents after showings
Discuss feedback from showing agents with seller to determine if changes will accelerate the sale
Place regular update calls to seller to discuss marketing and pricing

The Offer and Contract:

Receive and review all Offer to Purchase contracts submitted by buyers or buyers' agents
Evaluate offer(s) and prepare a "net sheet" on each for the owner for comparison purposes
Counsel seller on offers with merits and weakness of each component of each offer
Work with buyers' agents to review buyer's qualifications and discuss offer and/or seller’s disclosure
Confirm buyer is pre-qualified by calling Loan Officer
Negotiate and/or finalize all offers on seller's behalf, setting time limit for loan approval and closing date
Prepare and convey any counteroffers, acceptance or amendments to buyer's agent
Coordination of contract and all addendums to closing attorney or title company
Record and promptly deposit buyer's earnest money in escrow account
Disseminate "Under-Contract Showing Restrictions" as seller requests
Deliver copies of fully signed Offer to Purchase contract to seller
Coordinate Offer to Purchase contract with lender
Advise seller in handling additional offers to purchase submitted between contract and closing
Change status in MLS to "Sale Pending"
Provide credit report information to seller if property will be seller-financed
Order septic system inspection, if applicable
Receive and review septic system report and assess any possible impact on sale
Help seller obtain copy of septic system inspection report lender and buyers’ agent

Tracking the Loan Process:

Confirm Verifications Of Deposit
Follow Loan Processing Through the buyers’ agent
Contact Buyers’ agent weekly to ensure processing is on track
Relay final approval of buyer's loan application to seller

Home Inspection:

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

The Appraisal:

Coordinate appraisal with buyers’ agent
Assist seller in questioning appraisal report if it seems too low

Closing Preparations and Duties:

Contract is signed by all parties
Coordinate closing process with buyer's agent and lender
Ensure all parties have all forms and information needed to close the sale
Select location where closing will be held
Confirm closing date and time and notify all parties
Assist in solving any title problems (boundary disputes, easements, etc.) or in obtaining Death Certificates
Work with buyer's agent in scheduling and conducting buyer's final walk-thru prior to closing
Research all tax, HOA, utility and other applicable prorations
Request final closing figures from closing agent (attorney or title company)
Receive and carefully review closing figures to ensure accuracy of preparation
Forward verified closing figures to buyer's agent
Request copy of closing documents from closing agent
Confirm buyer and buyer's agent have received title insurance commitment
Review all closing documents carefully for errors
Forward closing documents to absentee seller as requested
Review documents with closing agent
Coordinate this closing with seller's next purchase and resolve any timing problems
Have a "no surprises" closing so that seller receives a net proceeds check at closing
Refer sellers to one of the best agents at their destination, if applicable
Change MLS status to sold – enter sale date, price, selling broker and agent's ID numbers, etc.

What REALTOR® Means To You:

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®. Contact the experts at Breckenridge Associates for some more advice on selling your property!