Search Results for: listing documents

FAQ about the Listing Agreement

Listing a home for sale can be overwhelming. I get it. There are a lot of documents involved along with getting your home ready for sale. Here are a list of the most common questions I receive. If there is something not covered here, just ask.

Questions about selling your home

What is the best time of the year to sell my home?

Honestly, there are pros and cons on selling a home anytime during the year. It depends on the home. In general, larger homes in more suburban areas sell better during the summer months. Smaller homes usually sell well all year around. It is best to have your home evaluated and speak to your real estate agent about the pros and cons on selling thought the year.

How long will it take to sell my home?

The time that your home is on the market depends on several factors: pricing, time of the year, the size of the home, location and much more. The best way to get a realistic number is by speaking to your real estate agent. Your agent can evaluate trends for the last 6 months and give you a general idea on timing. 

Once you are under contract, it can take 7-45 days to close. Cash deals can close sooner, while financed purchases can take 30-45 days to close. 

How much is my home worth?

The answer is not simple. Every home is different. When a home is sold, a willing seller and a willing buyer have just announced to the world the value of that home. From there, other similar homes are benchmarked, but other factors come into play. The most important are: location, size, finishes, and condition. For more info

Zillow states that my home is worth $200,000 and the state tax accessor has my value at $180,000. Why is your suggested price different?

All of these entities are looking at your home in different ways. Sites like zillow work well in states that discloses sales prices. In Texas we are a non-disclosure state. Zillow pick up values using data from county and tax assessor records. Since prices are not disclosed to our tax assessor, these zestimates are normally not accurate.

The tax assessor has also established a market value or assessed value for your property. This is the value they use to calculate your yearly tax bill. This value may or may not be your actual market value. More info

As a real estate agent we look at similar homes that have sold in your area and establish a suggested list price. We used several factors to determine price. For more info on this

How much it cost me to sell my home?

You have options when it comes to selling your home. You have to decide what is best for you. Here is a list of some of the most popular choices.

We are a full service brokerage. We will guide you through getting your home ready, marketing and the overall sales process.   What does the agent do for you?

Should I make repairs to my home before putting it on the market?

The answer is normally yes. Skipping repairs can lose you money in the long run. Repair the little things that often get negotiated and cost more after someone else discovers them and a “Professional” has to be hired. More info

Should I use a real estate agent or sell my home for sale by owner?

This is a decision you will have to make. Just know that selling a home is not as easy as they make it look on TV. There are several pros to using a real estate agent. 

  • Real Estate agent will facilitate the sale or purchase of a contract. Your agent know how and when things are done.
  • Agent can spot potential problems. Being proactive is always cheaper than reactive.
  • A real estate agent acts like a mediator between the buyer and the seller.
  • Home is promoted on the master listing system ( and distributed to other sites such as Zillow, Trulia,, etc.
  • Agents know what buyers want. It’s important to make your home as marketable as possible. This will translate into more income for a seller.
  • Only buyers that are qualified and represented will access your home.

Your selling options


Can you sell your home “as-is”?

Technically the standard sales contract is an as-is contract. The seller can make conditions on accepting an offer or in permitting an offer to be submitted, these requirements would limit the buyers that would be interested in your property. This also does not limit the buyer from getting your home inspected.  

Can I forbid home inspections?

Although a seller could refuse to permit a buyer to have inspections or a right to terminate under the termination option, it is generally not a good idea to try to prevent a buyer from having a right to freely inspect the home. Preventing a buyer from an inspection increases the seller’s risk of a subsequent claim that she withheld information about the condition of the property. Furthermore, most homebuyers are going to be reluctant to buy a home without a right to inspect the home and without an option to terminate the contract if they are not satisfied about the condition of the property. Permitting the buyer to inspect a property doesn’t obligate a seller to agree to repairs.

Before you refuse to permit any inspections, discuss this with an attorney. 

What appliances typically stay and which ones may I take?

The only appliances that are typically considered personal property and can be removed are the washer, dryer and refrigerator. That said, it will all depend on the contract you signed. If you agreed to leave those appliances within your written and signed contract, those appliances should stay. 

What are seller disclosures and do I have to fill them out?

A seller disclosure form is required by sellers of previously occupied single family residences and is to be used in conjunction with a contract for the sale of real property. It contains information required to be disclosed by Section 5.008 of the Texas Property Code regarding material facts and the physical condition of the property. 

The basic seller disclosure forms are composed and available to the public from the Texas Real Estate Commission (TREC).

There are a few exceptions. See Texas Property Code Sec 5.008(e) will lists those cases exempt from needing to provide a Seller’s Disclosure.

Questions about the Listing Agreement

Do I have to sign a listing agreement?

If you want to sell your home using a real estate agent, you must sign a listing agreement. A listing agreement is a contract between the property owner and a real estate broker. The contract authorizes the agent to represent you and find a buyer for the property. The agreement is legally binding and gives the real estate agent or broker the right to sell your home.

Can I cancel the listing agreement once signed?

If you are unhappy and you are not under contract with a buyer, tell your real estate agent that you’re unhappy and you want to cancel the listing agreement in writing. They should send you a listing agreement termination to sign. 

What is included in a listing agreement?

The listing agreement, will list the parties involved,  everything that is included in your home sale, the agent’s commission, a list of seller and agent expectations, among other things. 

How long is the listing agreement?
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What can you negotiate in the listing agreement?

In real estate, almost everything is negotiable. Speak to your real estate agent if you’re uncomfortable with certain terms. 

What exactly I am selling?

“Property” means the land, improvements, and accessories described below, except for any described exclusions.

What are improvements?

The house, garage and all other fixtures and improvements attached to the above- described real property, including without limitation, the following permanently installed and built-in items, if any: all equipment and appliances, valances, screens, shutters, awnings, wall-to-wall carpeting, mirrors, ceiling fans, attic fans, mail boxes, television antennas, mounts and brackets for televisions and speakers, heating and air-conditioning units, security and fire detection equipment, wiring, plumbing and lighting fixtures, chandeliers, water softener system, kitchen equipment, garage door openers, cleaning equipment, shrubbery, landscaping, outdoor cooking equipment, and all other property owned by Seller and attached to the above-described real property.

What are Accessories?

The following described related accessories, if any: window air conditioning units, stove, fireplace screens, curtains and rods, blinds, window shades, draperies and rods, door keys, mailbox keys, above-ground pool, swimming pool equipment and maintenance accessories, artificial fireplace logs, and controls for: (i) satellite dish systems, (ii) garage doors, (iii) entry gates, and (iv) other improvements and accessories.

What are Exclusions?

Exclusions are improvements and accessories that will be retained by Seller and must be removed prior to delivery of possession.

Who decides on the final list price and can be in changed?

The listing price is the price that a seller instructs Broker to market the Property. This price can change but only with seller’s consent. 

The broker’s compensation explained

The broker’s compensation is the amount that you agree to pay the broker for his services. Keep in mind that this fee is typically shared among the agents and brokers involved. There are normally two agents and possibly two brokers involved in a transaction; One that represents the buyer and one that represents the seller. 

How are the broker’s commissions paid?

All payments are made through the settlement statement and ultimately subtracted from the buyer’s net balance. 

Are there other agent Fees and/or Reimbursable Expenses?

Maybe, but these should be disclosed in advance under 5, D, 3 of the listing contract.

What is a protection period?

The protection period in a listing agreement is there to protect the real estate agent. For a certain amount of days after the contract expires, if any of the potential buyers that the seller’s agent brought in actually buy the home, then the seller will still owe them the commission.

Does my home have to be listed online?

It doesn’t but seller acknowledges and understands that if this option is chosen the seller’s Property will not be included in the MLS database available to real estate agents and brokers from other real estate offices who subscribe to and participate in the MLS, and their buyer clients may not be aware that Seller’s Property is offered for sale;

In addition, the seller’s Property will not be included in the MLS’s download to various real estate Internet sites that are used by the public to search for property listings; and real estate agents, brokers, and members of the public may be unaware of the terms and conditions under which Seller is marketing the Property.

When will my home be listed in the Multiple Listing Services?

You as a seller can decide.

Broker will file this Listing with one or more Multiple Listing Services (MLS) by the earlier of the time required by MLS rules or 5 days after the date this Listing begins; unless the seller instructs them differently. 

Does my sales price have to be disclosed to the MLS (master listing services)?

Submission of information to MLS ensures that persons who use and benefit from the MLS also contribute information.

MLS rules require Broker to accurately and timely submit all information the MLS requires including final closing of sales and sales prices.

Who and how will others access my property?

The listing agreement authorizes access to the Property. This means giving permission to another person to enter the Property, disclosing to the other person any security codes necessary to enter the Property, and lending a key to the other person to enter the Property, directly or through a keybox. To facilitate the showing and sale of the Property.

Seller instructs Broker to:

(1) access the Property at reasonable times;
(2) authorize other brokers, their associates, inspectors, appraisers, and contractors to access the Property at reasonable times; and
(3) duplicate keys to facilitate convenient and efficient showings of the Property.

Where will my key be kept?

A copy of your key will be kept in a supra keybox that is placed on the Property. A keybox makes it more convenient for brokers, their associates, inspectors, appraisers, and contractors to show, inspect, or repair the Property. The keybox is opened by a special programmed device so that authorized persons may enter the Property, even in Seller’s absence. 

What is a Cooperating broker?

There are usually two agents and brokers involved in any transaction.

The listing broker will allow other brokers to show the Property to prospective buyers. The listing broker will offer to pay the other broker a fee as described in the contract if the other broker procures a buyer that purchases the Property.

What is Intermediary Status

There are occasions that the listing broker will be contacted by a buyer directly.

Broker may show the Property to interested buyers who Broker represents. If a prospective buyer who Broker represents offers to buy the Property, the seller may authorize the Broker to act as an intermediary and Broker will notify Seller that Broker will service the parties in accordance to the contract. See section 9, A.

Please note that the seller can decline intermediary status.

Is any information I share with my agent confidential?

During this Listing or after it ends, Broker may not knowingly disclose information obtained in confidence from Seller except as authorized by Seller or required by law. Broker may not disclose to Seller any confidential information regarding any other person Broker represents or previously represented except as required by law.

What type of financing can I accept on my home?

Depends on the home’s condition, and sales price. Speak to you agent about those that you can consider. 

Can a seller list their home with multiple agents?

No. The seller should only be bound by one listing agreement with another broker for the sale, exchange, or lease of the property. You can cancel the first listing agreement and then sign a new one with another broker.

Do you need to inform your real estate agent of any past due balances due on the home, property taxes or any liens?

Yes, please inform your agent of any delinquent loans and all other financial obligations related to the Property, including but not limited to mortgages, home equity loans, home improvement loans, homeowner association fees, and taxes. 

I am relocating for work and my company requires that I use a relocation company. Can I choose my agent?

Depends. Speak to your company and see what their rules are. 

My property is vacant. Is there anything I should know about the listing process while vacant?

If the Property is or becomes vacant during this Listing, Seller must notify Seller’s casualty insurance company and request a “vacancy clause” to cover the Property. Broker is not responsible for the security of the Property nor for inspecting the Property on any periodic basis.

What are Addendas?

Addenda that are part of this Listing. If the item is checked off make sure it’s attached to the listing agreement. 

Do I need to inform my listing agent if I am a foreign person?

If Seller is a “foreign person” as defined by federal law, a buyer may be required to withhold certain amounts from the sales proceeds and deliver the same to the Internal Revenue Service to comply with applicable tax law. A “foreign person” is a non resident alien or a foreign corporation that has not made an election under section 897(i) of the Internal Revenue Code to be treated as a domestic corporation; or a foreign partnership, trust, or estate.

The First Step – The Pre-Listing Appointment

If you are thinking about selling your home within the next 30, 60 or 90 days, its time to start planning and preparing your home.

The purpose of this first appointment is to get to know each other. The truth is that all REALTORS® have access to most of the same tools, but not All REALTORS® use them in the same manner. Take the time to interview a few Realtor® and find the right fit.

We sincerely appreciate the opportunity to show you what we can do.  Selling your home is a big deal. We know and we will treat it as such.

Schedule a free, no obligation pre-listing appointment today.

How to Prepare?

At this first meeting, avoid discussing specifics about your home or why you are moving. This should only be discussed with your Realtor® once you have signed listing agreement.

Before meeting with a Realtor®, you should gather some information/documents.

  • A list of questions to ask the Realtor®
  • Reference material (for your information only until you have signed a listing agreement)
    • Current mortgage statement
    • Current HOA statement
    • Copy of your deed and/or all sales documents from when the property was purchased.
    • A copy of your property tax information
    • Property survey
    • Past inspection reports
    • Copy of your homeowners insurance policy
    • History of utility payments

What to Expect?

We will schedule a time when we can meet at your home to tour the property and discuss the overall sales process. There is so much to discuss! Plan on the first visit to last about 1 hour. We will cover:

Pre-Listing Package and Seller Consultation

  1. Information About Brokerage Services
  2. Disclosure: Confidentiality agreement and interview process
  3. Company information
  4. Your expectations as a seller and our exceptions as a listing agent
  5. Agent Information
  6. Recommendations and references
  7. The selling process
  8. Online presence and professional pictures
  9. Staging your home to sell. What are buyers looking for today?
  10. Pricing guide. Our opinion on pricing, the typical listing agreement and net sheet.
  11. Absorption rate. How long will it take your home to sell?


Information About Brokerage Services

Texas Real Estate Commission Consumer Protection Notice

Representation vs No Representation – IABS Explanation

Realtor® Fiduciary Duties


Seller’s Disclosure Notice – All sellers have to provide a seller’s disclosure to all potential buyers. Exceptions

Realtor Questionnaire for Sellers

Why buyers buy?

Sample: Residential Real Estate Listing Agreement Exclusive Right to Sell

General Information and Notice to Buyers and Sellers

Is Your Sellers Surveillance Putting Them At Risk


If you decide to work with us, we will schedule a second visit where we will go into more details. Please plan on at least 1-2 hour for this visit. During this visit we will discuss the following:

  • Do you plan on selling and buying? What will the timeline look like? When should you get pre-approved for a new loan?
  • Free staging services. We will discuss preparing your home to sell. Your home’s pros and cons. Set up a property enhancement plan.
  • I will provide a Market-Ready Guide & Checklist
  • We will discuss pricing and review the pros and cons of certain price points.
  • Do you have young kids? How to get and keep your home ready to show.
  • Do you have pets? How to deal with pets during the showing times.
  • Scheduling service and showing times.
  • Schedule professional pictures and prepare property video.
  • We will register your property for a Free Residential Service Contract to be active during your listing period.
  • Install lockbox – Electronic lockboxes only for safety reason.
  • Scheduling showing and what to expect.
  • Just Listed notices sent too Neighborhood
  • Continuous, purposeful promotion of your property
    • Social media sites
    • MLS and distribution sites
    • Company website – Property Page
  • Weekly updates and communications
  • Review all purchase offer(s) together but you have the final deciding vote.
  • We will review inspection reports and repair/credit requests together. We will collaborate on our response to the buyer.
  • We will keep you posted on the property appraisal and values.
  • I will keep us on track with crucial dates, time limits and details.
  • Free out of state relocation assistance if needed.

    First Impressions are EVERYTHING

    Did you know that buyers decide whether they love your home or not within the first 8 seconds? 8 seconds! First impressions are everything.

    Your home is typically your largest financial investment. Don’t just list it without any advance preparation. A few minor touch-ups can go a long way towards making a favorable impression on potential buyers — and perhaps cinching a deal.

    Put your buyer’s hat on and walk thru your home like it is the first time, make notes on what you, as a buyer, would notice and then repair or replace those items.

    Step 1 – Evaluation


    Step 2 – Repairs and Decluttering


    Step 3 – Listing documents


    Step 4 – Staging and Photos


    Step 5 – Active Listing


    Step 6 – Showing, Buyer Feedback, Offers and Negotiations

    Download your 30 day plan to preparing your home to sell

    10 Tips for Home Sellers From a Buyer’s Real Estate Agent

    Download your free seller guide here

    Short Term Rental Scams

    When people hear Airbnb, HomeAway or VRBO, they think vacation. These services connect homeowners who want to rent out a room or their entire house or apartment with travelers who want an alternative to hotel chains.

    These short term rentals are used for many other reasons. They are temporary homes between selling and buying a home. They are temporary homes for business trips. They are used as temporary housing for college students.

    These types of rentals can also be found on Craig’s list, facebook market page, other social media, etc.

    In the last few years there has been a rise in cases of fraud.

    Let review some of the most common scams:

    • Fake Rental – One scheme known as take the money and run occurs when a fraudster creates a fake vacation rental listing or website to get money from unaware victims. The pictures are usually stollen from other sites and the property they are advertising doesn’t usually exist. The fraudster will typically ask you to pay the first and last day or sometimes the stay in full. Once they receive the funds they tend to disappear. Usually the victim will not find out they were scammed until they show up at the property (or lack of property).
    • Bait and switch – Another scam is the bait and switch. In this scam, the fraudster shows unavailable properties to lure the would-be renter to a less-desirable property. This is sometimes done in a sneaky way. You may not even know you’ve been scammed.
      • Imagine that the short-term rental owner calls you the day of check-in. You are informed that the previous guest had flushed something down the toilet, which had left the unit flooded with water. He offers you another unit in the mean time and they will let you know when the flooded unit is available (which is probably never). This other unit is usually not the same quality.
    • Price jacking – You get to the property and it’s the property you expected but you are asked to pay more at the last minute. They may push you to pay by turning on the home’s WIFI, turn off the lights, etc.

    In 2019, the median loss of victims who reported rental scams to Scam Tracker was $996. The Apartment List survey found that the median loss was $400, but one in three victims lost more than $1,000.

    • Let’s share the winnings: This is typically a scam targeting the short term rental owner. They will ask the owner to charge a certain amount for a room they never plan on using. In exchange they want the owner to give them 1/2 of the amount charged. If you receive a check that’s for more than the specified amount, return it. Do not deposit it. 
    • Cancelled Booking – The victim will receive an email stating that the home or home is not longer available due to renovations or repairs. You are informed that you will get a refund (which never happens).
    • No showings but give me more info – If you ask to see the property and they either tell you no or they book a tour but end up canceling. At times they will ask you to fill out an application with tons of personal info before they allow you to see the property. They might asked to run a credit check before they show you the property—they might say the property is so popular that they are only entertaining serious inquiries or a similar excuse. Red Flag.
    • Home for Rent – Longer term rentals also experience fraud. Fraudsters will use homes that are currently up for sale (and vacant) and they will list them for rent; normally using the same pictures. Sometimes they even gain access to the home and have copies of the keys. They will collect the security deposit and 1st rent, have them sign a lease, and give the victims the keys. It all looks legit until someone shows up to tour the home and realized that there is someone already living in it!
    • Rent-to-Own – I know this is appealing to some renters but the fact is that there is a lot of fraud in this area. This can be legally done by signing a rental agreement with an option to purchase.
    Sample Fraud Communication
    • You owe me money! – On occasions the fraudster (property owner) will contact you after the fact and request that you pay a certain amount for repairs. Take photos and video of a property when they arrive and when they leave.
    • Room for Rent/fraudster tenant – There are fraudsters that are renting rooms in vacant homes or homes that they might have rented legitimately but have stop making payments on their rent. Normally they will try to rent every room in the home within a short period by offering an amazing rate. They will take a deposit and the month’s rent in advance. Shortly after they disappear.
    • No Credit Check – If someone is willing to rent you a home or a room for a period of time, wouldn’t they be concerned about your credit or criminal history? Red flag.
    • You can pay the rest later – If the property owner tells you that you can pay a portion of your security deposit now and the rest later, be careful. This is a way to establish trust and they may only be seeking to steal the first part of the payment.

    How can you protect yourself?

    • Reverse image search – If you search the images and you find that they are stock pictures or they belong to another listing, this should be a BIG red flag.
    • Contact number – Search for the property owner’s telephone number. If it turns out to be a google number, this might be an issue. Not to say that all google numbers belong to fraudsters but I’d be on high alert.
    • Map the address – Map the address and make sure there is a property located at that address. Does the home match those in the picture?
    • Read reviews – A lot of times just reading the reviews will cause red flags. Do the good reviews sound strange? Do they use the same wording you found in the ad?
    • Cancellation Alerts – Are there multiple cancellation alerts on a property? Red Flag.
    • Price too good to be true? – It probably is. Red Flag. A guest offering to pay extra for a week because they love your place? Scam! A single traveler renting your five-bedroom house for themselves? Scam! Trust your instinct.
    • Payments – Is the host asking you to take their business off the official site? Red flag. All communications and payments should be handled through the site. If they ask for a money order or wire, backoff and report them.
    • Website – before making a payment look at the website address. Sometimes you are sent a link to an “airbnb” like site but the web address is not correct. vs.

    • Owner Search – Search for the property’s owner. Make sure that the person that you are dealing with is the owner.  It will not hurt to ask for documentation to prove the identity of the person you are dealing with. If you find the property is owned by a company, call the company and see what you can find out.
    • Few or no reviews – Red Flag
    • Lease – You are asked to sign a lease before you are able to see the place/room.

    More info/Sources:

    Joy for Kids – Toy Drive Benefiting the Children of Fallen Heroes

    Thank you for joining us! Below you will find a copy of all the guides we offered during the toy drive

    Home Buyers

    Home Sellers

    Other Documents

    Selling Options

    Research is critical

    Now a days home sellers have several options available to sell their home. They all have pros and cons. I think it’s important as a seller to do your research and see what’s right for you. All these options fill a need for some seller. 

    Please note that this is a very general overview of your selling options; it’s not all inclusive. I’m covering the most common options that come up when chatting with clients. This is just a starting point. Please do further research on any options suits you.

    As a REALTOR® we can not give you advice on these services. Nor can we guide you through these other selling options. This page was created for educational purposes only.Commission DistributionCommission Distribution

    Let’s explore some of these options.

    Traditional Brokerage Firm

    • Traditional Real Estate Brokerages
      • This is normally a full service brokerage. A set percentage is negotiated. The agent starts the sales process. What does the agent do for you?
      • Please note that every brokerage firm has their established fees. There is no set fee for all brokerage firms. The fee is split between the listing brokerage and the selling brokerage.
      • Real Estate TV shows are not reality. They have certainly implied that REALTOR® make thousand with very little work, one party or one sale. The realty is that the agent does not take home the percentage negotiated. What does a REALTOR® actually makes? Commission Distribution


    • Real Estate agent will facilitate the sale or purchase of a contract. Your agent know how and when things are done.
    • Agent can spot potential problems. Being proactive is always cheaper than reactive.
    • A real estate agent acts like a mediator between the buyer and the seller.
    • Home is promoted on the master listing system ( and distributed to other sites such as Zillow, Trulia,, etc.
    • Agents know what buyers want. It’s important to make your home as marketable as possible. This will translate into more income for a seller.
    • Only buyers that are qualified and represented will access your home.
    • CONS
      • Cost, especially is you don’t have equity in the property.
      • Selling a home takes time. If you have to move fast this can become an issue.
      • Risk of not knowing the paperwork or the process.
      • It’s time consuming to market your property properly and legally.

    For Sale by Owner (FSBO)

    • For Sale by Owner (FSBO)
      • A seller will put their home on the market themselves. They may or may not list it online. They will place a sign on their yard and show their own property. They will negotiate their sale and handle the contract themselves or hire a lawyer to write up the contract. The seller will handle the sale from start to finish.
        • PROS:
          • Potential savings in commission payments
          • Seller will have total control over the entire process.
        • CONS:
          • No access to reliable comps so establishing a sales price might be difficult. You will be a target for bargain shoppers.
          • Limited online marketing because you can not list your property in the city’s Master Listing Service ( FSBO websites are not as effective.
          • Seller will have to schedule and manage all showings. There can be safety issues.
          • Seller will have to make sure the buyer is qualified and they will have to negotiate during all stages of the sales process.
          • Lack of legal forms. Seller will have to take care of all the paperwork and make sure he discloses all the required disclosures.

    We Buy Homes for Cash

    • We buy homes for cash
      • You see these signs every where. These are investors that buy homes with cash or hard money loans. Overall a home owner can expect about 60-70% of the market value or less if the home is in bad shape. This may be a good option for certain home owners.
        • PROS:
          • Fast closings
          • Cash sales so there are no finance contingencies
          • Properties in poor condition are typically accepted as-is
        • CONS:
          • Lower sales price
          • The offers usually have very little wiggle room because the investors follow a formula. They too have to make money after repairs and upgrades.
          • Home owners have to make sure the buyers are legit and they have the funds to close the deal.
          • These companies typically will use their own contract. The home owner should have them reviewed before signing the agreement.

    Real Estate Wholesalers

    • Wholesaler
      • These are the home finders that tie up homes under contract for a finder’s fee. They will look for distressed homes, negotiate with the home owner, come up with a rehab plan, then find an investor that would want to take it on. If they find an investor they will assign the contract to the investor for a “finders” fee. Typically the offer received will have the buyer listed as: ABC buyer and assigns. This will allow the buyer to assign the contract to the ultimate buyer. These buyer will also typically request a long option period so they can get bids for the work to be done.
        • PROS:
          • Usually cash deals so if they go through, normally they can close soon in less than 30 days.
          • You can sell the property as-is.
        • CONS:
          • The homeowner’s home is tied up in a contract that has a higher possibility of falling through.
          • Lower sales price. The wholesaler (finder) and the investor has to make a profit so the sales price will alway be low enough to cover these profit margins.
          • The wholesaler will want to have their team of contractors to tour the property in order to give him their rehab proposal.
          • The wholesaler might want to have potential investors tour the property.
          • Many times the home owner doesn’t even know who is buying their home.
          • Wholesalers will normally use their own contracts and they are written in the wholesaler’s favor. They will typically give the wholesaler an out if he can’t find an investor.

    Flat Fee or Discount Brokerage

    • Flat fee and discount brokerage
      • These brokerage firm will offer a flat fee for specific services or a lower commission rate on the listing side only. These are a la carte services because everything outside of the list of services offered (for this specific fee) is at an additional cost. These can add up quickly.
        • PROS:
          • Potential savings in selling fees
          • You decide what services you’d like to use
        • CONS:
          • Limited services for the discount fee and everything else is at a cost
          • Deceiving advertising. Read the small print. There are many loophole in the rebates or discounts they offer.
          • Make sure that they aren’t only listing the property. That means that you might be requested to do everything else.
          • Find out where the property will be listed. It should be listed on the master listing service (

    IBuyer Companies

    • IBuyers – An iBuyer is a company that uses technology to make an offer on your home instantly. The most recognized IBuyers are OpenDoor, Offerpad and Zillow. Each IBuyer works a little differently but for the most part the company will estimates the value of your home and makes an offer and disclose their fee. If you accept, documents will be signed and a home assessment is programmed. Once the IBuyer’s has assessed your home they will most likely ask you to make repairs or they will modify their offer to represent the repairs that need to be done. Once repairs are resolved, the seller will decide when to close, usually 10-60 days after.
      • PROS:
        • Your home is never on the market and buyers will not have access to the property while you live in it.
        • You choose the closing date after you’ve reached an agreement with the IBuyer.
      • CONS:
        • The home is never on the open market so you really don’t know how much you would have recieved. How do you know it’s fair market value?
        • Your home is still going to be inspected and further negotiations will be completed after the initial offer.

    What a Realtor does for you

    Many home buyers and sellers are not aware of the true value that a Realtor provides during the course of a real estate transaction. Many people, in fact, are not cognizant of the expertise, professional knowledge, and just plain hard work that go into bringing about a successful real estate transaction.

    A multitude of important services and steps required in a real estate transaction are carried out by the Realtor or the brokerage staff. Most of these steps have traditionally been viewed simply as part of a Realtor’s professional responsibilities to the client. But, without them, the transaction could be placed in jeopardy.

    Below you will find some of the actions, research steps, processes, and review stages necessary for a successful residential real estate transaction that are normally provided by a full service real estate brokerage in exchange for their sales commission. Depending on the transaction, some of these steps may take minutes, hours, or even days to complete, while some may not be needed.


    The list is by no means a complete list of services and some transactions may not require every step list. Many Realtors routinely provide a wide variety of additional services that are as varied as the nature of each transaction.

    The Realtor Commitment

    The professional commitment of a Realtor is to ensure that a seller and a buyer are brought together in an agreement that provides each with a transaction that is fair and equitable. The motivation is easy to understand. For most full-service brokerages, they receive no compensation whatsoever unless and until the sale closes.

    By contrast, there are firms that offer limited services in exchange for an up-front flat fee, or offer a menu of pay-as-you-go or a la’ carte options. Other real estate firms may offer a sliding scale ranging from limited to full service. In these cases, the compensation of the Realtor is based on the reduced services provided, with the seller bearing full responsibility for all of the other steps and procedures (which are normally conducted by a full service real estate firm) in the selling process.

    Pre-Listing Activities
    1. Make appointment with seller for listing presentation.
    2. Send seller a written or e-mail confirmation of listing appointment and call to confirm.
    3. Review pre-appointment questions.
    4. Research all comparable currently listed properties.
    5. Research sales activity for past 18 months through the Multiple Listing Service (MLS) and/or public records databases.
    6. Research “Average Days on Market” for this property of this type, price range and location.
    7. Download and review property tax roll information.
    8. Prepare “Comparable Market Analysis” (CMA) to establish fair market value.
    9. Obtain copy of subdivision plat/complex lay-out.
    10. Research property’s ownership and deed type.
    11. Research property’s public record information for lot size and dimensions.
    12. Research and 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 impact of schools on market value.
    20. Review listing appointment checklist to ensure all steps and actions have been completed.
    Listing Appointment Presentation
    1. Give seller an overview of current market conditions and projections.
    2. Review agent’s and company’s credentials and accomplishments in the market.
    3. Present company’s profile and position or niche in the marketplace.
    4. Present CMA Results To Seller, including Comparables, Solds, Current Listings and Expireds.
    5. Offer pricing strategy based on professional judgment and interpretation of current market conditions.
    6. Discuss goals with seller to market effectively.
    7. Explain market power and benefits of Multiple Listing Service.
    8. Explain market power of web marketing, Internet Data Display and
    9. Explain the work the brokerage and agent do behind the scenes and agent’s availability onweekends.
    10. Explain agent’s role in taking calls to screen for qualified buyers and protect seller from curiosity seekers.
    11. Present and discuss strategic master marketing plan.
    12. Explain different agency relationships and determine seller’s preference.
    13. Review and explain all clauses in Listing Contract and Addendum and obtain seller’s signature.
    Once Property Is Under Listing Agreement
    1. Review current title information.
    2. Measure overall and heated/air conditioned square footage.
    3. Measure interior room sizes.
    4. Confirm lot size via owner’s copy of certified survey, if available.
    5. Note any and all unrecorded property lines, agreements, easements.
    6. Obtain house plans, if applicable and available.
    7. Review house plans and make copy.
    8. Order plat map for retention in property’s listing file, if applicable
    9. Prepare showing instructions for buyers’ agents and agree on showing time window with seller.
    10. Obtain current mortgage loan(s) information: companies and loan account numbers.
    11. Verify current loan information with lender(s).
    12. Check assumability of loan(s) and any special requirements.
    13. Discuss possible buyer financing alternatives and options with seller.
    14. Review current appraisal if available.
    15. Identify Home Owner Association manager if applicable.
    16. Verify Home Owner Association Fees with manager – mandatory or optional and current annual fee.
    17. Order copy of Homeowner Association bylaws, if applicable.
    18. Research electricity availability and supplier’s name and telephone number.
    19. Calculate average utility usage from last 12 months of bills.
    20. Research and verify city sewer/septic tank system.
    21. Water System: Calculate average water fees or rates from last 12 months of bills.
    22. Well water: Confirm well status, depth and output from Well Report.
    23. Natural gas: Research/verify availability and supplier’s name and telephone number.
    24. Verify security system, current term of service and whether owned or leased.
    25. Verify if seller has transferable Termite Bond.
    26. Ascertain need for lead-based paint disclosure.
    27. Prepare detailed list of property amenities and assess market impact.
    28. Prepare detailed list of property’s “Inclusions & Conveyances with Sale.”
    29. Compile list of completed repairs and maintenance items.
    30. Send “Vacancy Checklist” to seller if property is vacant.
    31. Explain benefits of Home Owner Warranty to seller.
    32. Assist sellers with completion and submission of Home Owner Warranty Application.
    33. When received, place Home Owner Warranty in property file for conveyance at time of sale.
    34. Have extra key made for lockbox.
    35. Verify if property has rental units involved. If so:
    36. – Make copies of all leases for retention in listing file.
    37. – Verify all rents and deposits.
    38. – Inform tenants of listing and discuss how showings will be handled.
    39. Arrange for installation of yard sign(s).
    40. Assist seller with completion of Seller’s Disclosure form.
    41. Complete “New Listing Checklist.”
    42. Review results of Curb Appeal Assessment with seller and provide suggestions to improve salability.
    43. Review results of Interior Décor Assessment and suggest changes to shorten time on market.
    44. Load listing into transaction management software program.
    Entering Property in Multiple Listing Service Database
    1. Prepare MLS Profile Sheet – Realtor is responsible for quality control and accuracy of listing data.
    2. Enter property data from Profile Sheet into MLS Listing Database.
    3. Proofread MLS database listing for accuracy – including proper placement in mapping function.
    4. Add property to company’s Active Listings list.
    5. Provide seller with signed copies of Listing Agreement and MLS Profile Sheet Data Form within 48 hours.
    6. Take additional photos for upload into MLS and use in flyers. Discuss efficacy of panoramic/virtual tour photography.
    Marketing The Listing
    1. Create print and Internet ads with seller’s input.
    2. Coordinate showings with owners, tenants, and other Realtors. Return all calls – weekends included.
    3. Install electronic lockbox if authorized by owner. Program lockbox with agreed-upon showing time windows.
    4. Prepare mailing and contact list.
    5. Generate mail-merge letters to contact list.
    6. Order “Just Listed” labels and reports.
    7. Prepare flyers and feedback faxes.
    8. Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability.
    9. Prepare property marketing brochure for seller’s review.
    10. Arrange for printing or copying of supply of marketing brochures or flyers.
    11. Place marketing brochures in all company agent mail boxes.
    12. Upload listing to company and agent Internet site, if applicable.
    13. Mail Out “Just Listed” notice to all neighborhood residents.
    14. Advise Network Referral Program of listing.
    15. Provide marketing data to buyers coming through international relocation networks.
    16. Provide marketing data to buyers coming from referral network.
    17. Provide “Special Feature” cards for marketing, if applicable.
    18. Submit ads to company’s participating Internet real estate sites.
    19. Price changes conveyed promptly to all Internet groups.
    20. Reprint/supply brochures promptly as needed.
    21. Loan information reviewed and updated in MLS as required.
    22. Feedback e-mails/faxes sent to buyers’ agents after showings.
    23. Review weekly Market Study.
    24. Review lockbox reports to study home showing traffic.
    25. Discuss lockbox showing reports and feedback from showing agents with seller to determine if changes will accelerate the sale.
    26. Place regular weekly update calls to seller to discuss marketing and pricing.
    27. Promptly enter price changes in MLS listing database.The Offer And Contract
    28. Receive and review all Offer to Purchase contracts submitted by buyers or buyers’ agents.
    29. Evaluate offer(s) and prepare a “net sheet” on each for the owner for comparison purposes.
    30. Counsel seller on offers. Explain merits and weakness of each component of each offer.
    31. Contact buyers’ agents to review buyer’s qualifications and discuss offer.
    32. Deliver Seller’s Disclosure to buyer’s agent or buyer upon request and prior to offer if possible.
    33. Confirm buyer is pre-qualified by calling loan officer.
    34. Obtain pre-qualification letter on buyer from loan officer.
    35. Negotiate all offers on seller’s behalf, setting time limit for loan approval and closing date.
    36. Prepare and convey any counter offers, acceptance or amendments to buyer’s agent.
    37. Email copies of contract and all addendums to closing attorney or title company.
    38. When Offer to Purchase Contract is accepted and signed by seller, deliver to buyer’s agent.
    39. Record and promptly deposit buyer’s earnest money in escrow account.
    40. Disseminate “Under-Contract Showing Restrictions” as seller requests.
    41. Deliver copies of fully signed Offer to Purchase contract to seller.
    42. Deliver copies of Offer to Purchase contract to Selling Agent.
    43. Deliver copies of Offer to Purchase contract to lender.
    44. Provide copies of signed Offer to Purchase contract for office file.
    45. Advise seller in handling additional offers to purchase submitted between contract and closing.
    46. Change status in MLS to “Sale Pending.”
    47. Update MLS and transaction management program to show “Sale Pending.”
    48. Review buyer’s credit report results — advise seller of worst and best case scenarios.
    49. Provide credit report information to seller if property will be seller-financed.
    50. Assist buyer with obtaining financing, if applicable and follow-up as necessary.
    51. Coordinate with lender on discount points being locked in with dates.
    52. Deliver unrecorded property information to buyer.
    53. Order septic system inspection, if applicable.
    54. Receive and review septic system report and assess any possible impact on sale.
    55. Deliver copy of septic system inspection report lender and buyer.
    56. Deliver Well Flow Test Report copies to lender and buyer and property listing files
    57. Verify termite inspection ordered.
    58. Verify mold inspection ordered, if required.

    Tracking The Loan Process

    142. Confirm verifications of deposit and buyer’s employment have been returned.
    143. Follow loan processing through to the underwriter.
    144. Add lender and other vendors to transaction management program so agents, buyer and seller can track progress of sale.
    145. Contact lender weekly to ensure processing is on track.
    146. Relay final approval of buyer’s loan application to seller.

    Home Inspection

    147. Coordinate buyer’s professional home inspection with seller.
    148. Review home inspector’s report.
    149. Enter completion into transaction management tracking software program.
    150. Explain seller’s responsibilities with respect to loan limits and interpret any clauses in the contract.
    151. Ensure seller’s compliance with Home Inspection Clause requirements.
    152. Recommend or assist seller with identifying and negotiating with trustworthy contractors to perform any required repairs.
    153. Negotiate payment and oversee completion of all required repairs on seller’s behalf, if needed.

    The Appraisal

    154. Schedule appraisal.
    155. Provide comparable sales used in market pricing to appraiser.
    156. Follow-Up on appraisal.
    157. Enter completion into transaction management program.
    158. Assist seller in questioning appraisal report, if questions arise.

    Closing Preparations And Duties

    159. Contract is signed by all parties.
    160. Coordinate closing process with buyer’s agent and lender.
    161. Update closing forms and files.
    162. Ensure all parties have all forms and information needed to close the sale.
    163. Select location where closing will be held.
    164. Confirm closing date and time and notify all parties.
    165. Assist in solving any title problems (boundary disputes, easements, etc) or in obtaining Death Certificates.
    166. Work with buyer’s agent in scheduling and conducting buyer’s final walk-through prior to closing.
    167. Research all tax, Home Owner Association, utility and other applicable prorations.
    168. Request final closing figures from closing agent (attorney or title company).
    169. Receive and carefully review closing figures to ensure accuracy of preparation.
    170. Forward verified closing figures to buyer’s agent.
    171. Request copy of closing documents from closing agent.
    172. Confirm buyer and buyer’s agent have received title insurance commitment.
    173. Provide Home Owners Warranty for availability at closing.
    174. Review all closing documents carefully for errors.
    175. Forward closing documents to absentee seller as requested.
    176. Review documents with closing agent (attorney).
    177. Provide earnest money deposit check from escrow account to closing agent.
    178. Coordinate this closing with seller’s next purchase and resolve any timing problems.
    179. Have a “no surprises” closing so that seller receives a net proceeds check at closing.
    180. Refer sellers to a Realtor at their destination, if applicable.
    181. Change MLS status to Sold. Enter sale date, price, selling broker and agent’s ID numbers, etc.
    182. Close out listing in transaction management program.

    Follow Up After Closing

    183. Answer questions about filing claims with Home Owner Warranty company, if requested.
    184. Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied.
    185. Respond to any follow-on calls and provide any additional information required from office files.