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What A Broker Does To Earn A Commission

 

1.      Get all details on home
2.      Research tax records to verify ownership
3.      Research sales activity for the past 6-12 months
4.      Research under contract properties
5.      Research homes that did not sell
6.      Research competitive homes that are currently on the market
7.      Analyze data
8.      Prepare comparative market analysis
9.      Determine price range
10.    Call receiver of taxes to verify real estate taxes
11.    Get together with homeowner
12.    Walk through house
13.    Make recommendations to make home more sellable
14.    Discuss marketing plan
15.    Discuss fiduciary responsibility
16.    Discuss importance of pricing correctly
17.    Answer all of the homeowners questions
18.    Explain all documents
19.    Make recommendations to sell faster
20.    Agree on price and commission
21.    Discuss the difference between broker & public open houses
22.    Take pictures of interior and exterior
23.    Discuss showing instructions
24.    Give homeowner showing tips
25.    Get signatures on all documents
26.    Proof read listing agreement
27.    Submit listing to front desk
28.    Order a sign
29.    Write an ad
30.    Review listing ASAP after submitted to MLS
31.    Explain showing instructions to front desk
32.    Hand pick photos for MLS
33.    Enhance listing on Realtor.com
34.    Write ad for Craig’s list
35.    Prepare post card for mailing -Just Listed
36.    Set up e-flyer and email to 19,000 agents
37.    Add to my personal website as featured listing
38.    Prepare file for listing
39.    Prepare a highlight sheet
40.    Submit ad to Newsday
41.    Send homeowner copy of ad
42.    Contact agents to promote listing
43.    Call homeowner with all showing inquiries
44.    Confirm showing appointment with agent
45.    Email agent and request feedback after showing
46.    Call agent for feedback if they don’t respond to email
47.    Call homeowner to give feedback
48.    Setup a Broker open house
49.    Submit open house info to MLS
50.    Order food for open house
51.    Set up signs in neighborhood pointing to open house
52.    Showcase home to agents and get agents recommendations
53.    Discuss agent feedback with homeowner
54.    Discuss price reduction if necessary
55.    Speak with all buyers who inquire on home
56.    Pre-qualify buyer if they want to see home
57.    Show house if buyer is qualified
58.    Discuss options with homeowner if no offers
59.    Update CMA with current data and email to homeowner
60.    Set up a public open house
61.    Market public open house
62.    Set up signs in neighborhood
63.    Fine tune price if necessary
64.    Explain to homeowner that when priced correctly - offers will come
65.    When offers come - get them in writing
66.    Get pre-approval in writing
67.    Speak with buyers mortgage representative
68.    Present offer to homeowner
69.    Negotiate to bring a meeting of the minds
70.    Modify binders to agreed price
71.    Get names of attorneys
72.    Fax binder to attorneys
73.    Set up home inspection
74.    Classify as 1st accepted-still showing with front desk
75.    Selling agent accompanies home inspector with buyer
76.    Explain to buyer that home inspectors job is to find faults with home
77.    Explain inspection report is not to be used to re-negotiate
78.    Discuss results of home inspection with homeowner
79.    Get lead based paint disclosure signed by buyers
80.    If home passes inspection, ask sellers attorney to send out contracts
81.    Follow up with buyers to see when signing contracts
82.    Try to get the buyers in to contract with in 10 days
83.    Call homeowner to alert when buyer signs contract
84.    Ask homeowner to call their attorney to sign contracts
85.    Sellers attorney will send contract back to buyers attorney
86.    Have buyers submit fully executed contract to mortgage rep
87.    Submit paper work to front desk
88.    Change status from 1st accepted to in contract
89.    Assist buyer with obtaining financing
90.    Schedule a termite inspection
91.    Contact lender weekly to ensure processing is on track
92.    Schedule appointment for appraiser
93.    Bring comps to appraisal appointment
94.    Follow-up on appraisal
95.    Call processor to see if file is ready for underwriting
96.    Once approved, get buyer to sign commitment
97.    Follow-up on scheduling of closing
98.    Ask homeowner to call utility companies
99.    Once closing is scheduled, set up final walk through
100.  Attend closing


Note: If A Home Does Not Sell…The Broker Does Not Earn A Commission

 

A Special Report Prepared By:

Evan Greene
Licensed Broker/Owner
HouseValueExpert@aol.com
www.MyHGrealty.com
Cell: (631) 848-8000