Prompt Sheet For Completing Ds 160: Fill & Download for Free

DO NOT DO IT! It may look easy when we Real Estate agents do it but it is not. I used to have a list of what Realtors do for you but I don't know where it is right now. It is a long list. The online sites are trying to convince you that they can do it for you or do yourself but don't be foolish and do it. The legal implications alone is enough to scare you. What is that saying pound foolish.WHAT YOUR REALTOR® DOES FOR YOU"';;;.'.Listed below are 180 steps typically taken by full service real estate brokerages during the various stages of a successful residentialreal estate transaction in return for their sales commission. Depending on the transaction, some steps may take minutes,hours or even days to complete, while others may not be needed.More importantly, these services reflect the level of skill, knowledge and attention to detail required in today's real estate transaction,underscoring the importance of receiving help and guidance from someone who fully understands the process-a REALTOR®.PRE-LISTING ACTIVITIES1 Make appointment with seller for listing presentation2 Send seller a written or e-mail confirmation of listing appointment and call to confirm3 Review pre-appointment questions4 Research all comparables that are currently listed properties5 Research sales activity for past 18 months from MLS and public records databases6 Research "Average Days on Market" for properties of this type, price range and location7 Download and review property tax roll information8 Prepare "Comparable Market Analysis" (CMAl to establish fair market value9 Obtain copy of subdivision plat/complex lay-out10 Research property's ownership and deed type11 Research property's public record information for lot size and dimensions12 Research and verify legal description13 Research property's land use coding and deed restrictions14 Research property's current use and zoning15 Verify legal names of owner(s) in county's public property records16 Prepare listing presentation package with above materials and Realist information17 Perform exterior "Curb Appeal Assessment" of subject property18 Compile and assemble formal file on property19 Confirm current public schools and explain impact of schools on market value20 Review listing appointment checklist to ensure all steps and actions have been completedLISTING APPOINTMENT PRESENTATION21 Give seller an overview of current market conditions and projections22 Review agent's and company's credentials and accomplishments in the market23 Present company's profile and position or "niche" in the marketplace24 Present CMA results to seller, including Comparables. Solds, Current Listingsi:.fn!clt.~1.<pl!lj~(~s:\;!!0·+'·'<ii·A25 Offer pricing strategy based on professional judgment and interpretation.of26 Discuss goals with seller to market effectively ".27 Explain market power and benefits of Multiple Listing St::rviee '.'" . .28 Explain market power of web marketing, IDX and Austfnf-tomesearch.com29 Explain the work the brokerage and agent dS,:'Q~hJqqth.liiSc!';~n~?"~nqagent's availability on weekends30 Explain agent's role in taking calls to screerlfoyqualified buyerJand protect seller from curio:;ity see~ers/31 Present and discuss strategic master marketing plan32 Explain different agency relati()Q~hi8~;;ElP9 c;I.~t€\ImJn~.~eller's prefer~Dq~"Y;';'\".i/33 Review and explain all clauses In ListingCohtra9t 8, Addendum and obtain setler'ssignatureRevjew,cyxrenttitle i[lfOfrJ1ptlpp . . ,Measllre'overall andheated squaretootageMeasure i r.roomsizes .-<:-.;~ -AUSTIN BOARD OF REALTORS" I 10900 STONELAKE BLVD. STE A·l00 I AUSTIN, TX 78759 I 512-454-7636 I WWW.ABOR.COM37 Confirm lot size via owner's copy of certified survey, if available38 Note any and all unrecorded property lines, agreements and easements39 Obtain house plans, if available, and make copy40 Order plat map for retention in property's listing file41 Prepare showing instructions for buyer's agents and agree on showing time window with seller42 Obtain current mortgage loan(s) information: companies and loan account numbers43 Verify current loan information with lender(s)44 Check assumability of loan(s) and any special requirements45 Discuss possible buyer financing alternatives and options with seller46 Review current appraisal, if available47 Identify Homeowner Association manager, if applicable48 Verify Homeowner Association Fees with manager-mandatory or optional and current annual fee49 Order copy of Homeowner Association Bylaws, if applicable50 Research electricity availability and supplier's name and phone number51 Secure an energy audit with an Austin Energy inspector, if residing in City of Austin and home is 10 or more years old52 Calculate average utility usage from last 12 months of bills53 Research and verify city sewer/septic tank system54 Water System: Calculate average water fees or rates from last 12 months of bills55 Well Water: Confirm well status, depth and output from Well Report56 Natural Gas: Research/verify availability and supplier'S name and phone number57 Verify security system, current term of service and whether owned or leased58 Verify if seller has transferable Termite Bond59 Ascertain need for lead-based paint disclosure60 Prepare detailed list of property amenities and assess market impact61 Prepare detailed list of property's "Inclusions & Conveyances with Sale"62 Compile list of completed repairs and maintenance items63 Send "Vacancy Checklist" to seller, if property is vacant64 Explain benefits of Home Owner Warranty to seller65 Assist sellers with completion and submission of Home Owner Warranty Application66 When received, place Home Owner Warranty in property file for conveyance at time of sale67 Have extra key made for lockbox68 Verify if property has rental units involved, And if so:69 Make copies of all leases for retention in listing file70 Verify all rents and deposits71 Inform tenants of listing and discuss how showings will be handled72 Arrange for installation of yard sign73 Assist seller with completion of Seller's Disclosure form74 "New Listing Checklist" Completed75 Review results of Curb Appeal Assessment with seller and provide suggestions to improve salability76 Review results of Interior Decor Assessrnent and suggest changes to shorten time on market77 Load listing into transaction management software programENTERING PROPERTY IN MULTIPLE LISTING SERVICE DATABASE78 Prepare MLS Profile Sh:et __~geot.i~.J~s~otlsible for"q~~!ity s?r;trgl" al'Jd accuracy of listing data79 Enter pr.oper.tydatafrom PiQTI!!= Sh7et iqt,oMLs Listing Database-~~.$ML~ da~~llase!istingfoi"acc(JracY-including proper placement in mapping function dPertY f()oom'p'ahis A~tive Listings list•. .?.•3~.,...<. f'lpvldeseller ~:::ithsigned copies of Listing Agreement and MLS Profile Sheet Data Form.; ,83#~ 'Take additional photos for upload into MLS and use in flyers; discuss efficacy of panoramic photographyMARKETING THE LISTING84 Create print and Internet ads with seller's input85 Coordinate showings with owners, tenants and other REALTORS®;return all calls including weekends86 Install electronic lock box, if authorized by owner; program lock box with agreed-upon showing time windows87 Prepare mailing and contact list88 Generate letters and combine with contact listAUSTIN BOARD OF REALTORS" I WE'RE WORKING FOR YOU!89 Order "Just Listed" labels and reports90 Prepare flyers91 Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability92 Prepare property marketing brochure for seller's review93 Arrange for printing or copying a supply of marketing brochures or fliers94 Place marketing brochures in all company agent mail boxes95 Upload listing to company and agent website, if applicable96 Mail Out "Just Listed" notice to all neighborhood residents97 Advise Network Referral Program of listing98 Provide marketing data to buyers coming through international relocation networks99 Provide marketing data to buyers coming from referral network100 Provide "Special Feature" cards for marketing, if applicable101 Submit ads to company's participating real estate websites102 Convey price changes to all groups promptly via MLS103 Reprint/supply brochures promptly as needed104 Review and update loan information as required105 Feedback e-rnails/faxessent to buyer's agents after showings106 Review market statistics107 Discuss feedback from showing agents with seller to determine if changes will accelerate the sale108 Place regular weekly update calls to seller to discuss marketing and pricingTHE OFFER AND CONTRACT109 Receive and review all Offer to Purchase contracts submitted by buyers or buyer's agents.110 Evaluate offer(s) and prepare a "net sheet" on each for the owner for comparison purposes111 Counsel seller on offers. Explain merits and weakness of each component of each offer112 Contact buyer's agents to review buyer's qualifications and discuss offer113 Deliver Seller's Disclosure to buyer's agent or buyer upon request and prior to offer, if possible114 Confirm buyer is pre-qualified by calling Loan Officer115 Obtain pre-qualification letter on buyer from Loan Officer116 Negotiate all offers on seller's behalf, setting time limit for loan approval and closing date117 Prepare and convey any counteroffers, acceptance or amendments to buyer's agent118 Distribute copies of contract and all addendums to closing attorney or title company119 When Offer to Purchase contract is accepted and signed by seller, deliver to buyer's agent120 Record and promptly deposit buyer's earnest money in escrow account.121 Disseminate "Under-Contract Showing Restrictions" as seller requests122 Deliver copies of fully signed Offer to Purchase contract to seller123 Deliver copies of Offer to Purchase contract to selling agent124 Deliver copies of Offer to Purchase contract to lender125 Provide copies of signed Offer to Purchase contract for office file126 Advise seller in handling additional offers to purchase submitted between contract and clo,s!n127 Change status in MlS to "Pending" -e.':128 Update transaction management program show "Pending" '"129 Review buyer's credit report results-advise seller of worst and best casescel1arios' ..130 Provide credit report information to seller, if property will be seller-fin ~131 Assist buyer with obtaining financing, if applicable and follow-up132 Coordinate with lender on Discount Points being locked il1 withd133 Deliver unrecorded property information to buyer134 Order septic system inspection, if applicable ;;;< ".. .'135 Receive and review septic system repqwa;~~aSS~$s'anyp~~,,11i11e'i'mpact on sale136 Deliver copy of septic system inspectioWrepoifiend~f ~hcLbtiy~r137 Deliver Well Flow Test Report copidto)enderandbuyerand pro138 Verify termite inspection.~td~te4>i.>( •.••,....•.....139 Verify mold inspec~iorrb~d~(~d, rftequired'·AUSTIN BOARD OF REALWRS" I 10900 STONELAKE BLVD. STE A-iOO I AUSTIN, TX 78759 I 512454·7636 I WWW.ABOR.COM141 Follow loan processing through to the underwriter142 Contact lender weekly to ensure processing is on track143 Relay final approval of buyer's loan application to sellerHOME INSPECTION144 Coordinate buyer's professional home inspection with seller145 Review home inspector's report146 Explain seller's responsibilities with respect to loan limits and interpret any clauses in the contract147 Ensure seller's compliance with Home Inspection Clause requirements148 Recommend or assist seller with identifying and negotiating with trustworthy contractors to perform any required repairs149 Negotiate payment and oversee completion of all required repairs on seller's behalf, if neededTHE APPRAISAL150 Schedule appraisal151 Provide comparable sales used in market pricing to appraiser152 Follow-up on appraisal153 Enter completion into transaction management program154 Assist seller in questioning appraisal report if it seems too lowCLOSING PREPARATIONS AND DUTIES155 Ensure contract is signed by all parties156 Coordinate closing process with buyer's agent and lender157 Update closing forms and files158 Ensure all parties have all forms and information needed to close the sale159 Select location where closing will be held160 Confirm closing date and time, and notify all parties161 Assist in solving any title problems (boundary disputes, easements, etc)CERTIFICATESWork with buyer's agent in scheduling and conducting buyer's final walk-through prior to closingResearch all tax, HOA, utility and other applicable prorationsRequest final closing figures from closing agent (attorney or title company)Receive and carefully review closing figures to ensure accuracy of preparationForward verified closing figures to buyer's agentRequest copy of closing documents from closing agentConfirm buyer and buyer's agent have received title insurance commitmentProvide "Home ,Owners Warranty" for availability at closingReviews all closing documents carefully for errorsForward closing documents to absentee seller as requestedReview documents with ~lpsi,nKagent.(attorhey)Provide earnesrmoney deposit check frqmescrow acco'l.mt to closing agentrtpqrdfoat~ tllisClo~ing wlth$ell~r;~ next.purchase and resolve any timing problems~ave a "no st..irprises"ciosing so that seller receives a net proceeds check at closingRefer;'5eller~to one of the best agents at their destination, if applicableChange MLS status to Sold. Enter sale date, price, selling broker and agent's ID numbers, etc.