News & Media
184 Ways You Earn Your Commission
Jon Feingersh/Gettyimages.com

184 Ways You Earn Your Commission

The next time a customer asks you to discount your commission, show them this list of activities you perform to help buyers find homes and sellers sell them.

You know you earn every penny you get when you sell a home. This list can help you show your customers exactly what you do to help them buy or sell their home. 

 

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 from MLS and public records databases

6. Research Average Days on Marketfor 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 Assessmentof subject property

18. Compile a 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 are completed

 

Listing Appointment Presentation

21. Give seller an overview of current market conditions and projections

22. Review agent’s and company’s credentials and accomplishments in the market

23. Present company’s profile and position or niche in the marketplace

24. Present CMA to seller, including comparable properties, sold properties, current listings, and expired listings

25. Offer pricing strategy based on professional judgment and current market conditions 

26. Discuss goals with seller to market effectively

27. Explain market power and benefits of Multiple Listing Service

 28. Explain market power of web marketing, IDX and REALTOR.com

29. Explain the work you do behind the scenes and your availability on weekends

30. Explain role in screening for qualified buyers and protect seller from curiosity seekers 

31. Present and discuss strategic master marketing plan

32. Explain transaction brokerage relationship

33. Review and explain all clauses in listing contract and addendum, then obtain seller’s signature once property is under listing agreement

34. Review current title information

35. Measure overall and heated square footage

36. Measure interior room sizes

37. Confirm lot size via owner’s copy of certified survey, if available

38. Note all unrecorded property lines, agreements, easements

39. Obtain house plans, if applicable and available

40. Review house plans and make copy

41. Order plat map for retention in property’s listing file

42. Prepare showing instructions for buyers’ agents and showing times with seller

43. Obtain current mortgage loan(s) information: companies & loan account numbers 

44. Verify current loan information with lender(s)

45. Check assumability of loan(s) and any special requirements

46. Discuss possible buyer financing alternatives and options with seller

47. Review current appraisal if available

48. Identify Homeowner Association manager if applicable

49. Verify Homeowner Association Fees with manager—mandatory or optional, plus fees 

50. Order copy of Homeowner Association bylaws, if applicable

51. Research electricity availability, supplier’s name, and phone number

52. Calculate average utility usage from last 12 months of bills

53. Research and verify city sewer/septic tank system

54. Calculate average water fees or rates from last 12 months of bills 

55. Confirm well status, depth and output from Well Report

56. Natural Gas: Research/verify availability, supplier’s name, and phone number

57. Verify security system, current terms of service and whether owned or leased

58. Verify if seller has transferable Termite Bond

59. Ascertain need for lead-based paint disclosure

60. Prepare detailed list of property amenities and assess market impact

61. Prepare detailed list of property’s inclusions and conveyances with sale

62. Compile list of completed repairs and maintenance items

63. Send vacancy checklist to seller if property is vacant

64. Explain benefits of Homeowner Warranty to seller

65. Assist sellers with completion and submission of Homeowner Warranty Application 

66. Place Homeowner Warranty in property file for conveyance at time of sale

67. Have extra key made for lockbox

68. Verify if property has rental units involved. 

69. If the property does have rental units, make copies of all leases for retention in listing file

70. Verify all rents and deposits

71. Inform tenants of listing and discuss how showings will be handled

72. Arrange for installation of yard sign

73. Assist seller with completion of Seller’s Disclosure form

74. Complete new listing checklist

75. Review curb appeal assessment and provide suggestions to improve salability

76. Review interior décor assessment and suggest changes to shorten time on market 

77. Load listing into transaction management software program

78. Prepare MLS Profile Sheet

79. Enter property data from Profile Sheet into MLS Listing Database

80. Proofread MLS database listing for accuracy— including proper placement in map 

81. Add property to company’s active listings list

82. Provide seller copies of the listing agreement amd MLS Profile Sheet within 48 hours 

83. Take additional photos for upload into MLS and use in fliers

84. Create print and internet ads with seller’s input

85. Coordinate showings with owners, tenants, and other REALTORS®. Return all calls 

86. Install electronic lock box if authorized. Program agreed-to showing times

87. Prepare mailing and contact list

88. Generate mail-merge letters to contact list

89. Order Just Listedlabels and reports

90. Prepare fliers and feedback reports

91. Review comparable MLS listings regularly to ensure property remains competitive 

92. Prepare property marketing brochure for seller’s review

93. Arrange for printing or copying of marketing brochures or fliers

94. Place marketing brochures in all company agent mailboxes

95. Upload listing to company and agent Internet site, if applicable

96. Mail Out Just Listednotice to all neighborhood residents

97. Advise network referral program of listing

98. Provide marketing data to through international relocation network buyers

99. Provide marketing data to buyers coming from referral network

100. Provide Special Featurecards for marketing, if applicable

101. Submit ads to company’s participating internet real estate sites

102. Price changes conveyed promptly to all internet groups

103. Reprint/supply brochures promptly as needed

104. Loan information reviewed and updated in MLS as required

105. Feedback e-mails sent to buyers’ agents after showings

106. Review weekly market study

107. Discuss with sellers any feedback from showings to determine if changes are needed 

108. Place regular weekly update calls to seller to discuss marketing and pricing

109. Promptly enter price changes in the MLS listing database

110. Receive and review all Offer to Purchasecontracts submitted by buyers' agents. 

111. Evaluate offer(s) and prepare a net sheet for the owner for comparison purposes

112. Explain merits and weakness of each offer to sellers

113. Contact buyers’ agents to review buyer’s qualifications and discuss offer

114. Deliver Seller’s Disclosureto buyer upon request and prior to offer if possible

115. Confirm buyer is pre-qualified by calling loan officer

116. Obtain buyers’ pre-qualification letter from loan officer

117. Negotiate all offers on seller’s behalf, set time limit for loan approval and closing 

118. Prepare and convey counteroffers, acceptance or amendments to buyer’s agent 

119. Email or send copies of contract and all addendums to the closing attorney or title company 

120. When Offer to Purchasecontract is accepted, deliver to buyer’s agent

121. Record and promptly deposit buyer’s earnest money in escrow account

122. Disseminate under-contract showing restrictions as seller requests

123. Deliver copies of fully signed Offer to Purchasecontract to seller

124. Deliver copies of Offer to Purchasecontract to selling agent

125. Deliver copies of Offer to Purchasecontract to lender

126. Provide copies of signed Offer to Purchasecontract for office file

127. Advise seller of additional offers submitted between contract and closing

128. Change status in MLS to Sale Pending

129. Update transaction management program show Sale Pending

130. Review buyer’s credit report. Advise seller of worst- and best-case scenarios 

131. Provide credit report information to seller if property will be seller-financed 132. Assist buyer with obtaining financing, if applicable, and follow-up as necessary 

133. Coordinate with lender on discount points being locked in with dates

134. Deliver unrecorded property information to buyer

135. Order septic system inspection, if applicable

136. Receive and review septic system report, and assess any possible impact on sale 

137. Deliver copy of septic system inspection report lender and buyer

138. Deliver Well Flow Test Report copies to lender and buyer, and property listing file 

139. Verify termite inspection ordered

140. Verify mold inspection ordered, if required

141. Confirm verifications of deposit and buyer’s employment have been returned 

142. Follow loan processing through to the underwriter

143. Add lender and other vendors to your management program so agents, buyer, and seller can track progress of sale

144. Contact lender weekly to ensure processing is on track 

145. Relay final approval of buyer’s loan application to seller

 

Home Inspection

146. Coordinate with seller for buyer’s professional home inspection 

147. Review home inspector’s report

148. Enter completion into transaction management tracking program 

149. Explain seller’s responsibilities, and recommend an attorney interpret any clauses in the contract

150. Ensure seller’s compliance with Home Inspection Clauserequirements

151. Assist seller with identifying contractors to perform any required repairs

152. Negotiate payment, and oversee all required repairs on seller’s behalf, if needed

 

The Appraisal

153. Schedule appraisal

154. Provide to appraiser any comparable sales used in market pricing 

155. Follow-up on appraisal

156. Enter completion into transaction management program

157. Assist seller in questioning appraisal report if it seems too low

158. Get contract signed by all parties

159. Coordinate closing process with buyer’s agent and lender

160. Update closing forms and files

161. Ensure all parties have all forms and information needed to close the sale

162. Select location where closing will be held

163. Confirm closing date and time, and notify all parties

164. Assist in solving any title problems or in obtaining death certificates

165. Work with buyer’s agent in scheduling buyer’s final walk-thru prior to closing 166. Research all tax, homeowners’ association dues, utility, and applicable prorations

167. Request final closing figures from closing agent (attorney or title company) 168. Receive and carefully review closing figures to ensure accuracy of preparation 

169. Forward verified closing figures to buyer’s agent

170. Request copy of closing documents from closing agent

171. Confirm buyer and buyer’s agent have received title insurance commitment 172. Provide homeowners warranty for availability at closing

173. Reviews all closing documents carefully for errors

174. Forward closing documents to absentee seller as requested

175. Review documents with closing agent (attorney)

176. Provide earnest money deposit check from escrow account to closing agent 177. Coordinate closing with seller’s next purchase, and resolve any timing problems 

178. Have a no-surprisesclosing so seller receives a net-proceeds check at closing

179. Refer sellers to one of the best agents at their destination, if applicable

180. Change MLS status to Sold. Enter sale date, price, selling broker, etc.

181. Close out listing in your management program

 

Follow-up After Closing

182. Provide answers about filing claims with homeowner warranty company if requested 

183. Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied 

184. Respond to any calls and provide any information required from office files

  

Print this out and use it in your listing presentation to show prospective sellers all that you do to earn you commission.

 

Reprinted with permission of the National Association of Realtors®