Carib-Gulf Realty
Why a "For Sale By Owner" Home can be a Seller's nightmare!

Many Sellers who wish to sell their homes try to market their properties themselves. While this may seem to be a good idea at the time, it is usually a decision made by the desire to "save" the commission usually associated with a home sale. Realtors® are highly trained professionals who are experienced in the listing, marketing and selling of a real estate property, and who add value to the home sale transaction by providing real and valuable services. Here are but a few:

Initial PreListing and Research
1. Research Ownership
2. Research Legal Description
3. Assessment & Status
4. Research all comparable currently Listed Properties
5. Research Previous Sales Activity
6. Order Property Profile
7. Review Property Profile
8. Order Tax Information
9. Tax Information Reviewed
10. Legal Names on Title Research
11. Complete Market Study Prepared (CMA)
12. Enter in Computer Base
13. Send Confirmation for Listing appintment
14. Prepare Personal Listing Info
15. Deliver Pre-Listing Info to Seller
16. Call to Confirm Appointment with Seller, ask pre appointment questions
17. Present Market Study to Seller, Including Comps, Solds, Current Listings & Expireds
18. Present Strategic Master Marketing Plan to Seller
19. Discuss Preparation Needed to Market Effectively
20. Plan Goals with Seller
21. Present Plan of Action to Seller
22. Suggest Financing Alternatives
23. Listing Contract & Addendum Signed by Seller
24. Pre-Listing Information Package Picked Up
25. Pre-Listing Checklist Completed
26. Review Current Title Information
27. Determine if current loan is assumable
28. Plat Map Ordered
29. Lot Size Confirmed
30. Owners House Plans Received if Applicable
31. House Plans Reviewed
32. Measure Heated Square Footage
33. Interior Room Sizes Measured
34. Organize File in Proper Order
35. Make Contact Cards
36. Put Into Letter Sequence
37. Order Just Listed Labels and Reports
38. Prepare Flyers and Feedback Faxes
39. Year Home was Built Researched
40. Property Disclosure Delivered
41. Property Data Sheet Prepared for Office
42. Showing Instruction Prepared, Office Notified
43. Loan Company & Loan Number Provided by Seller
44. Current Loan Information Verified by Lender
45. Loan Assumption Requirements Researched
46. Second Loan Company & Loan Number Provided by Seller
47. Second Loan Information Verified by Lender
48. Review Current Appraisal if Available
49. Lot Information Researched for Size & Dimensions
50. Land Use Researched
51. Zoning Researched
52. Identify Home Owner Association Manager
53. Home Owner Association Fee Researched
54. Copy of By-Laws Ordered
55. Home Owner Association Services Provided
56. Copy of Complex Lay-out
57. Have Extra Key for Lockbox made
58. Lock Box Installed
59. Sign Installed
60. Electricity Available in Research
61. Average Utilities Researched
62. Sewer/Septic System Researched
63. Water Availability Researched
64. Water Fees or Rates Researched
65. Well Status Confirmed with Well Report
66. Well Production Confirmed
67. Well Depth Verified
68. Natural Gas Availability Researched
69. Security System Term Verified
70. Property Inclusions and Amenities Noted
71. Property Inclusions Noted
72. Ads Written with Seller's Input
73. Digital Color Photo(s) Taken
74. Power of Attorney Reviewed and Filed
75. All Prorations are Researched and Noted
76. All Rents and Deposits are Verified
77. Copy of Leases Provided
78. Coordinate Showings with Tenant
79. Repairs and Maintenance Noted Completed
80. Home Owner Warranty Made Available
81. Home Owner Warranty Application Completed
82. Home Owner Warranty Application Mailed
83. Home Owner Warranty Received
84. Home owner Warranty Filed
85. Note All Unrecorded Property Lines or Agreements
86. "New Listing Checklist" Completed
87. "Closing and Control" Checklist Completed
88. New Listing Entered Into MLS System
89. Add Property to Our Active Listed List
90. Add Property to Our Current List
91. Confirm Owner Has a Copy of the Listing Agreement
92. Proof MLS Computer Printout
93. Marketing Brochure Prepared
94. Marketing Brochure Mailed to Seller for Review
95. Put Marketing Brochures in All Agent Mail Boxes at All Board Offices
96. Mail Brochure to Top 10% Agents In Area
97. Uploaded to Internet
98. Have "Just Listed" Endorsement signed
99. Mail Out "Just Listed" Endorsement to Neighborhood

Listing and Marketing
100. Advise Superstar Network Referral Program
101. Provide Marketing Data to International Relocation Buyers
102. Provide Marketing Data to Incoming Referral Buyers
103. Provide "Special Feature" Cards for Marketing (If Applicable)
104. Write Ad for Internet using Emotional Hot Buttons
105. Write Ad for Internet Advertising
106. Submit Ad to the HomeWeb
107. Submit Ad to my Personal Sites
108. Submit Ad to Yahoo
109. Submit Ad to Homeseeker
110. Submit Ad to Network Groups
111. Submit Ad to Newsgroups
112. Loan Information Reviewed and Filed
113. Loan Information Updated if Necessary in MLS
114. Feedback Faxes Sent to Agents After Showings
115. Showing Feedback Conveyed to Seller Weekly
116. Weekly Market Study Reviewed
117. Regular Calls to Seller to Discuss Marketing and Pricing
188. Pre-Qualify all Buyers when Possible
119. Price Change entered into MLS Computer
120. Price Change announced to all agents
121. Price Change announced to all Internet Groups
122. New Brochures are delivered as needed
123. Refer You to One of the Best Agents at your Destination (If Applicable)
124. Offer Received
125. Contacts Selling Agent to discuss Buyers Qualifications & Offer
126. Offer Reviewed with Seller
127. All Responses are Reviewed
128. All Needed Forms are presented to complete the Sale
129. Offer is Accepted, Amended or Countered
130. Signed Offer is Delivered to Selling Agent
131. Contract is Signed by all parties
132. Advise Broker of New Contract
133. Copies of Contract to Seller
134. Copies of Contract to Selling Agent
135. Copies of Contract in office file
136. Original Documents files with agent obtaining offer
137. Sales in Progress Checklist completed
138. Earnest Money is Recorded
139. Earnest Money is Deposited in Escrow Account
140. Closing File Forms and files updated
141. Showings are restricted as Seller requests
142. MLS notified of sale
143. Coordinate with Selling Agent and Lender
144. Fax copies of Contract to Lender

Contract Management
145. Confirm Purchaser is Pre-Qualified
146. Review Credit Report Results
147. Provide Credit Information to Seller if Seller Financing
148. Assist in Arranging Financing
149. Coordinate Discount Points being locked with dates
150. Provide Comparable Sales for Appraiser
151. Schedule Appraisal
152. Follow-up on Appraisal
153. Appeal for Increase if Appraisal is low
154. Relay results to Seller
155. Confirm Verifications of Deposit and Employment have been returned
156. Follow Loan Processing Through to the Underwriter
157. Contact Lender Weekly to Track Processing
158. Relay loan approval to the Seller
159. Fax copies of contract and addendum to the Closing Attorney
160. Confirm Loan Payoff Statement created
161. Confirm Loan Assumption Statement Ordered
162. Contact Existing Lender for Assumption requirements
163. Compile all required items for Assumption
164. Submit all required items for Assumption
165. Order Title Insurance Commitment
166. Confirm if Turn-in Policy Available
167. Review Title Insurance Commitment
168. Confirm Purchaser received Title Insurance Commitment
169. Confirm Selling Agent received Title Insurance Commitment
170. Note Title Insurance Requirements
171. Coordinate Meeting all Title Insurance Requirements
172. Have Buyers Hazard Insurance Delivered
173. Provide "Home Owners Warranty" for Closing
174. Coordinate Home Inspection
175. Review the Home Inspection Results
176. Negotiate the Payment and Completion of all required repairs
177. Inspection Clause Requirements completed
178. Deliver Unrecorded Property Information to Buyer
179. Septic Inspection Ordered
180. Septic Report Received and Reviewed
181. Copy of Septic Inspection Report delivered to Lender and Buyer
182. Copy of Well Flow Test Report delivered to Lender & Buyer
183. Copy of Well Flow Test Report Filed
184. Loan Approved

Closing Management
185. Closing Location Selected
186. Closing Date confirmed
187. Closing Time Scheduled with Seller
188. Closing Time Scheduled with Lender
189. Closing Time Scheduled with Selling Agent
190. Closing Time Scheduled with Buyer
191. Final Walk Thru Scheduled for Buyer
192. Closing figures Requested from Title Company
193. Closing figures Received and Reviewed
194. Closing Figures forwarded to Selling Agent
195. Closing Figures forwarded to Buyer
196. Closing Documents requested
197. Reviews Closing Documents for errors
198. Forward Closing Documents to Seller as Requested
199. Confer and review documents with Closing Attorney
200. Provide Earnest Money Check for Escrow
201. Oversee the Entire Closing Process
202. Coordinate This Closing with Your next purchase
203. Present You with your Check at Closing

Copyright© Paula Bean, Risa Saltman, Linn Wyllie, Carib-Gulf Group 1978 - 2007. All rights reserved.