Feb. 4, 2008 - Real Estate Editorial In Central Massachusetts

Lately, I find a growing number of consumers wondering what is it that they receive for letting us sell their home. Today, home sellers have many options when it comes to hiring an agent or selling as a "for sale by owner". The most professional and experienced of the real estate community should have no problem justifying a 6% commission. In these times of competitive tactics by other agents and online discounters, I yearn to impress upon my customers the importance of service and the detriment of the lack of service in what amounts to be the biggest financial decision of their lives. The real estate business is interesting and mind-boggling to the consumer. Where else does a newly licensed agent make as much as a seasoned professional? When consumers don't know what they get for their money, how can they make the educated decision?

Each service provider (no matter what the business) has a value standard of their services based upon their expertise and knowledge. Many, like myself, know that they provide this service well beyond the minimal industry standard. They refuse to compromise the value of their service- and rightfully so. Once the service price is discounted, it is likely that the client will perceive that the value is not really held to the standard. When the home owner does not see the value of the service, he or she wants a reduction in fees. To explain what it is that I do for my clients, I have created a short list of duties I perform for my seller clients during the course of the contract. Since in a typical transaction there are two agents, the agreed upon fee is generally split in half. Therefore, I am performing the below list of responsibilities on behalf of the seller for my fee of 3%. The other 3% is offered to the agent who brings in the buyer.

1. Provide the Seller with 100% unconditional guarantee of satisfaction or they may cancel the contract at any time before they have an accepted offer on the property
2. Perform Staging Services - Evaluate the home, room by room to sell fast & get the seller the best price possible
3. Conduct interview - To clearly understand the sellers’ needs and be able to meet them
4. Research the marketing history of the house
5. Research town records on the house
6. Perform Comparative Market Analyses - To determine the value range of the home and the time it would take to achieve it.
7. Create a marketing strategy to ensure a quick sale at the optimum price
8. Measure all the rooms with ultrasonic electronic measuring device for accuracy
9. Explain all forms and agreements
10. Research the deed
11. Research any easements, abatements, leans or other legal items that come up
12. Set up a folder with information on the home used at showings
13. Photograph the home inside and out
14. Set up a virtual tour script
15. Set up a virtual tour
16. Creatively write about the house for various advertising venues
17. Create a brochure
18. Create a postcard brochure
19. Confirm that information went into Realtor.com properly and embellish listing
20. Disseminate advertisement on the numerous sites on the www
21. Disseminate advertisement to the sphere of influence
22. Place the advertisement in the monthly newsletter
23. Install a lock box
24. Install a sign
25. Order/install personalized rider
26. Create advertisement
27. Create fax back feedback form
28. Distribute brochures to neighboring businesses
29. Mail out brochures to neighbors (renters and/or owners)
30. Set up Open House advertisements
31. Add Open House information into Realtor.com listing
32. Install Open House rider and provide Balloons/directional signs
33. Host Open Houses
34. Invite a professional Mortgage Originator to the Open House – to pre-approve buyers
35. Provide mortgage breakdown sheet for your home
36. Create a book featuring your home and your town - to be left at the house and given to the buyers
37. Set up showings at your convenience
38. Accompany non represented buyers to all showings
39. Collect feed back and review with the seller on a weekly bases
40. Answer buyer’s questions in a timely manner
41. Provide monthly CMA updates and review with seller – to make sure that we stay competitive with the market
42. Continuously monitor to make sure that the proper paperwork is at the house
43. Send Realtor.com statistics on a regular bases to the seller

44. Keep seller's financial information/ thoughts confidential unless authorized to disclose
45. Make sure the buyers have a formal and legitimate pre-approval prior to presentation of the offer
46. Promote seller’s position
47. Contact selling agent for any clarification
48. Present the offer and review and explain to the seller
49. Explain language and contingencies and their ramifications
50. Help the seller make an informed decision
51. Contact the selling agent/ buyer with the seller’s response
52. Write the offer with un-represented buyer and explain forms
53. Include forms to protect the seller
54. Arrange to pick up the offer
55. Meet with the seller to get signatures
56. Create a team of professionals on seller's behalf to facilitate the selling process and coordinate between members of that team to ensure a smooth transaction
57. Create a contact information sheet for all parties
58. Get the signed documents to buyer/buyer’s attorney/buyer’s agent / seller’s attorney
59. Forward all pertinent documents to the buyer which may include Title V and deed information
60. Set up home inspection time
61. Be present at the home inspection and represent the Seller’s interest
62. Advise the seller based on the outcome
63. Help renegotiate after the home inspection and help address any concerns
64. Set up appointments for any home repairs and estimates
65. Pick up Radon Kit or make arrangements for it
66. Replace the “For Sale” rider with “On Deposit” rider
67. If necessary, put the house back on the market
68. Review the Purchase and Sale document.
69. Arrange for the seller to sign the document
70. Forward the Document to all parties
71. Send the seller a letter of closing responsibilities
72. Set up appointments for appraiser
73. Prepare comparable properties for the appraiser
74. Meet with the appraiser and give him comparable homes information
75. Set up appointment for fire marshal
76. Meet with the fire marshal
77. Do final water meter reading
78. Remind the seller of last minute items to take care of prior to closing
79. Set up appointment for walk through
80. Accompany and Represent the seller’s interests at the walk through and address issues that may arise.
81. Notify parties of the closing time and place
82. Review settlement papers on the Sellers’ behalf
83. Coordinate sellers closing if they are buying and selling
84. Set up key exchange
85. Represent the seller’s interest at closing
86. Become a resource for the buyer after the closing and answer any post closing concerns
87. Promote and Protect the interest of the seller at all times