Best of 2016: 184 Things You Do for Real Estate Clients (and they don't even know it)
#6 in our countdown of the most popular articles of the year.
Posted by: RET Staff
"Why do I need you?"
This is a question many real estate agents dread. But with the rise of real estate technology that puts more market data into the hands of buyers and sellers, more agents have to come up with an answer.
In fact, Adwerx CEO Jed Carlson gave a speech about it.
Pat Vredevoogd-Combs, past president of the National Association of REALTORS® in 2007, testified before the House Financial Services Committee on Housing to blunt government complaints about industry pricing.
As part of her testimony, she submitted a list of 184 things that listing agents do in every real estate transaction.
"By all accounts," she said, "the general public is not aware of all the services that agents provide to sellers and buyers during the course of the transaction, probably because most of the important services are performed behind the scenes."
This list has appeared in several places across the web, but it's such a powerful and comprehensive collection of little-known services, we wanted to capture it and create a version you could use with your own client conversations — helping your sellers understand the critical role you play in their real estate transaction.
1. Make appointment with seller for listing presentation.
2. Send a written or e-mail confirmation of appointment and call to confirm.
3. Review appointment questions.
4. Research all comparable currently listed properties.
5. Research sales activity for past 18 months from MLS and public databases.
6. Research "average days on market" for properties similar in type, price and location.
7. Download and review property tax roll information.
8. Prepare "comparable market analysis" (CMA) to establish market value.
9. Obtain copy of subdivision plat/complex layout.
10. Research property's ownership and deed type.
11. Research property's public record information for lot size and dimensions.
12. Verify legal description.
13. Research property's land use coding and deed restrictions.
14. Research property's current use and zoning.
15. Verify legal names of owner(s) in county's public property records.
16. Prepare listing presentation package with above materials.
17. Perform exterior "curb appeal assessment" of subject property.
18. Compile and assemble formal file on property.
19. Confirm current public schools and explain their impact on market value.
20. Review listing appointment checklist to ensure completion of all tasks.