Things
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REALTORS®
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PRE-LISTING ACTIVITIES
Make appointment with seller for listing presentation, send a written letter or e-mail confirmation
of appointment, and call to confirm.
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Review appointment questions.
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Research “average days on market” for properties similar in type, price, and location.
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Download and review property tax information.
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Prepare Estimated Sellers Net Sheet reflecting market conditions.
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Verify legal names of owner(s) in county’s public property records.
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Perform exterior “curb appeal assessment” of subject property.
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Prepare listing presentation package with above materials.
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Compile and assemble formal file on property.
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Review listing appointment checklist to ensure completion of all tasks.
LISTING APPOINTMENT PRESENTATION
Give Seller an overview of current market conditions.
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Review agent and company credentials and accomplishments.
Present company’s profile and position or “niche” in the marketplace.
Present Estimated Sellers Net Sheet reflecting market conditions (to give the Sellers an idea of
their “bottom line”).
Offer professional pricing strategy based on interpretation of current market conditions.
Discuss goals to market effectively.
Explain the work the broker and agent do “behind the scenes” and agent’s availability on
weekends and holidays.
Explain concepts of cooperation and compensation. Discuss options for offering compensation to
cooperating brokers and/or subagents and ensure the seller understands those options.
Present and discuss strategic master marketing plan.
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Discuss the concepts of Dual Agency and Dual Agency within a Team, if appropriate, and obtain
Seller’s signature on appropriate forms, as needed.
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Review all clauses in listing agreement and obtain all Seller signature(s).
Provide a signed copy of the listing agreement to the Seller(s).
Review the Maryland Residential Property Disclosure and Disclaimer Statement with Seller,
explaining the difference between providing a Disclosure and providing a Disclaimer. Have Seller
complete either the Disclosure or Disclaimer and provide a signed copy of it to the Seller.
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Note any and all recorded property lines, agreements, easements, if provided by Seller.
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Obtain and review house plans, if applicable and available.
Ascertain need for lead-based paint disclosure.
Ask Seller to confirm school district for the property.
Prepare showing instructions for Buyers’ Agents and agree on showing time(s) with Seller(s).
Ask Seller to verify current loan information with lender(s).
AFTER LISTING AGREEMENT IS SIGNED
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Discuss possible buyer financing alternatives and options with Seller, explaining that Maryland
law prohibits discrimination based upon source of income, which includes the type of financing
used by a Buyer.
Review current appraisal if available.
Discuss with Seller the requirement to provide a Condominium or Homeowner’s Association Resale
Package; discuss the timing of when the package may be ordered and the associated costs.
Identify Condominium or Homeowner Association manager(s), if applicable.
Assist Seller in ordering, or order directly, the Condominium or Homeowner’s Association Resale
Package.
Ask Seller to check assumability of loan(s) and any special requirements.
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Advise client to verify security system, term of service, and whether owned or leased.
Advise client to verify terms of service for propane gas tanks, solar panels, or any other fixtures or
personal property items that may convey, whether owned or leased, and whether such
agreements are transferable.
Advise client to research/verify natural gas availability, supplier’s name, and phone number.
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Verify if Seller has transferable Termite or Wood Destroying Insects Warranty.
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Complete list of completed repairs and maintenance items.
Advise client to complete “Vacancy Checklist” if property is vacant.
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Explain what a home warranty is, the different types of coverage that may be available, and the
potential benefits of having a home warranty in place during the listing period.
If Seller chooses to purchase a home warranty, advise Seller to submit home warranty
application or assist Seller in submitting the application.
Have extra key made for lockbox.
When received, place home warranty documentation in property file for possible transfer to
buyer at time of sale.
Make copies of all leases for retention in listing file. Request copies of rental housing
registration(s), if required under local law.
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Verify all rents and security deposits.
Inform tenants of listing and discuss how showings will be handled. Provide any notices to
tenants that may be required by state or local law.
AFTER LISTING AGREEMENT IS SIGNED CONTINUED
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Arrange for yard sign installation.
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Complete “New Listing Checklist.”
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Review results of Curb Appeal & Interior Décor Assessment with seller and suggest improvements
for salability.
ENTERING PROPERTY IN MLS DATABASE
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Prepare MLS Profile Sheet– The Agent, Team Leader, Branch Office Manager, and Broker are
responsible for “quality control” and accuracy of listing data.
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Proofread MLS database listing for accuracy, including property placement in mapping function.
Upload the completed and signed Maryland Residential Property Disclosure and Disclaimer
form to the MLS.
Add property to company’s Active Listings.
Enter property data from Profile Sheet into MLS listing database.
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Provide Seller with draft of the listing using the Bright MLS Listing Preview function. Consider
asking Seller to sign or initial to confirm information.
Hire photographer or take additional photos for upload into MLS and use in advertising.
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Ensure that your intended use of the photos does not violate the photographer’s copyright
interest in the photos. Obtain a release or license agreement, as appropriate.
MARKETING THE LISTING
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Ensure that all advertisements are compliant with Maryland law. Have Team Leader, Branch Office
Manager, or Broker review proposed advertisements consistent with office policies.
Install lockbox. Program with agreed-upon showing time windows.
Coordinate showings, broker’s opens and open houses with Owners, Tenants and other Agents.
Promptly return all calls–weekends included.
Create print and online ads with seller’s input.
Prepare mail/email and contact list.
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Order “Just Listed” labels and reports.
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Prepare flyers and feedback forms.
Review comparable MLS listings regularly to ensure property remains competitive in price, terms,
conditions, and availability.
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Distribute copies of marketing materials to Agents within your brokerage, consistent with
company policy.
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Upload listing to company and agent websites, if applicable.
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Mail “Just Listed” postcard to all neighborhood residents, if agreed to as part of marketing plan.
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Advise your referral network of listing, as appropriate.
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Provide marketing data to buyers from relocation networks.
Submit ads to company’s participating internet real estate sites, if applicable.
Reprint/supply brochures promptly, as needed.
Send feedback e-mails to buyers’ agents after showings; follow up if feedback not received.
Review and update property information in MLS, as required.
Review weekly Market Study.
Provide “Special Feature” postcards for marketing, if applicable.
Place regular weekly update calls to Seller to discuss marketing and pricing.
Discuss feedback from Showing Agents with Seller to determine if changes will accelerate the sale.
Promptly enter price changes in MLS listings database.
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MARKETING THE LISTING CONTINUED
Receive and review all offers submitted by Buyers or Buyers’ Agents.
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Contact Buyers’ Agent to review buyer’s qualifications and discuss offer.
Evaluate offer(s) and prepare “net sheet” on each for owner to compare.
Present all offers to Seller in full and in writing. Explain strengths and weakness of each
component and offer to assist Seller in making a decision.
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Prepare and deliver any counteroffers, acceptance, or amendments in full and in writing to
Buyer’s Agent.
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Deliver the entire contract to Buyer's Agent when offer is accepted by Seller.
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THE OFFER AND THE CONTRACT
Make sure contract is signed and initialed by all parties.
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Make sure parties have signed the Affirmation of Consent for Dual Agency form and Consent
for Dual Agency within a Team forms, if applicable.
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Email copies of contract and all addenda to closing attorney or title company.
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Ensure the Seller(s), Buyer(s), and Escrow Agent have signed the Escrow Agreement if the title
company will be holding EMD.
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Confirm that Buyer’s Broker and/or title company are in receipt of EMD and that the check has
not been returned or the wire dishonored.
Obtain fully executed copy of Escrow Agreement from title company, including title company’s
acknowledgement of receipt of EMD. Provide executed copy to your client.
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Deliver copies of fully signed contract and any Dual Agency forms to Seller(s).
Advise Seller about options contained in listing agreement about handling additional offers to
purchase, submitted between contract and closing.
Provide copies of signed contract for office file.
Change MLS status to reflect current status.
Disseminate “Under-Contract Showing Restrictions” as Seller requests.
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Provide credit report information to Seller or provide Seller with information on how to obtain
credit report information if the property is to be financed by Seller.
AS A BUYER AGENT
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Prepare for Buyer consultation appointment.
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Make appointment with Buyer for Buyer Consultation Appointment.
Send a written letter or e-mail confirmation of appointment and call to confirm.
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THE OFFER AND THE CONTRACT CONTINUED
Review appointment questions, preferably set forth on your or your company’s Checklist, used
consistently to assure compliance with Fair Housing laws and company policy.
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Offer a warm welcome and introduce yourself and your credentials.
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Review the agenda and objectives of the appointment.
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Discover the Buyer’s needs and wants, such as location, size, style, features, amenities, etc. Be
mindful to discuss objective criteria and avoid discussions which may constitute steering a Buyer
towards or away from a particular neighborhood.
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Discuss of the Buyer’s financial situation and pre-approval status.
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Present your services and value proposition, together with the services and value proposition of
your brokerage, including testimonials and references.
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Explain the home buying process and timeline, from the search to settlement.
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Review the terms of the Buyer Agency Agreement and its benefits, explaining your brokerage’s
compensation and explaining the ways in which that compensation may be paid, including
Broker-to-Broker compensation; the Buyer paying the compensation directly; or the Buyer asking
the Seller to pay some/all of the compensation by use of an Addendum to the Contract.
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Ensure that buyer signs the Buyer Agency Agreement prior to touring any homes.
Assist Buyer with obtaining financing, if necessary; follow up with Buyer and Lender, if appropriate,
to ensure transaction is progressing as planned.
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Confirm the Buyer’s commitment and expectations.
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Coordinate with Lender on discount points being locked in with dates to ensure compliance
with timeframes established in Contract.
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AS A BUYER AGENT CONTINUED
Deliver to Buyer any unrecorded property information provided by Seller or Listing Agent.
Confirm that Buyer has received Condominium and/or HOA Resale Package, if applicable.
Confirm, in writing, the time within which Buyer must terminate the Contract, if Condo/HOA
resale package is not satisfactory to Buyer.
Receive and review all property inspection reports, discuss with Buyer, determine whether Buyer
wants to request that Seller repair any items and/or provide a credit, and assess any impact on
sale or financing.
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TRACKING THE LOAN PROCESS
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Confirm return of verifications of deposit and Buyer’s employment.
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Maintain regular contact with Lender to ensure processing is on track.
Follow loan processing through to the underwriter.
Add Lender and other vendors to transaction management program so Agents, Buyer, Seller,
and title company can track progress of transaction.
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Relay final approval of Buyer’s loan application to Listing Agent and title company.
HOME OR OTHER INSPECTIONS
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Coordinate Buyer’s professional home inspection or other agreed upon inspections with Seller,
if applicable.
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Review home or other inspector’s report, discuss with Buyer, make any requests for repair
consistent with home inspection addendum.
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Ensure Seller’s compliance with home inspection addendum requirements.
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Consistent with State Law, confirm Contractor’s license is in good standing with appropriate
governing bodies, if recommending a contractor to clients for required repairs.
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Confirm with Seller the completion of all required repairs, if needed.
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THE APPRAISAL
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Discuss any improvements with Seller and share that information with the appraiser.
Provide comparable sales used in market pricing to appraiser.
Follow up on appraisal.
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Coordinate closing process with Buyer’s Agent, Lender, and title company.
Confirm Buyer has chosen location for closing.
Update closing forms and files.
Ensure all parties have all forms and information needed to close the sale.
Work with Buyer’s Agent in scheduling and conducting Buyer’s final walkthrough prior to closing.
CLOSING PREPARATIONS AND DUTIES
Request final closing figures from Closing Agent (attorney or title company).
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Confirm that title company has received all necessary Seller information to obtain mortgage
payoff figures and releases of any judgment or tax liens, if necessary.
Confirm that the Buyer received title insurance commitment.
Provide “Home Owners Warranty” for availability at closing, if appropriate.
Assist title company by providing contact information for absentee Seller, if appropriate.
Confirm that title company has received the Seller’s Power of Attorney, if appropriate.
Have client review documents with Closing Agent (attorney).
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Receive and carefully review Closing Disclosure/Settlement Statement to ensure accuracy and
compliance with terms of the Contract.
Have Buyer coordinate with title company to ensure that Buyer knows how much money to bring
to closing and the acceptable methods for transferring that money to the title company
(certified check, wire transfer, etc.).
Buyer’s Broker to provide earnest money deposit from escrow account to title
company(attorney), if appropriate. Coordinate with title company if amount of EMD exceeds
amount of commission payable to Buyer’s Broker.
Advise Seller to bring all keys (doors, mailbox, shed), remotes/garage openers, checkbook, etc. to
closing.
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Have a “no surprises” closing so that Seller receives a net proceeds check or has net proceeds
wired at closing.
Change MLS status to Sold. Enter sale date, price, Selling Broker and Agent’s ID numbers, etc.
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FOLLOW UP AFTER CLOSING
Respond to any follow-up calls or emails and provide any additional information required from
office files.
HELP BUYER OR SELLER PURCHASE THEIR NEXT PROPERTY!
Order wood post sign down, collect riders and remove lockbox.
Scan in executed Closing Disclosure/Settlement Statement and send to client at the new year as
a courtesy for tax purposes.
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