Seller's Articles

Home Seller Schedule and Task List

Selling a home can be exciting for many. You will want the process to be as smooth as possible so you will want to get started early and stick to a well thought out plan and schedule.

The time tables for selling vary depending on the dates established for you to close escrow on the home. Often a 30, 45, or 60 day escrow can be used depending on your market and your brokerage. Keep in mind, your agent and loan officer will be doing many things behind the scenes during the process. This list is suggested to keep you on target.

Print out this form. Put a check mark for items completed. Put an "X" for items that do not pertain to your situation. Assign someone to each item and follow up with them at the end of the week.

Stage 1: Hiring an Agent

Assignment	Status	Task
____________		Personal: Determine your motive for Selling. Plan for after the sale.
____________		Real Estate Agent: As a seller, most of the work and marketing costs will be burdened by your agent. Be sure they are great marketers. Ask trusted family and friends who they refer as a qualified professional. Call from the phone book or other advertisements. Interview several over the phone to narrow down the possibilities. Interview the remaining candidates in person and choose the one who will get the job done and treat you well.
____________		Real Estate Agent: Ask your agent what fees you will see from their brokerage and from other services. In many markets it is the seller who is responsible for paying both agents. Home equity is the source used to ease the out of pocket expenses by both sides.
____________		Real Estate Agent: Find out what your agent will be doing to market your property. Ask what time frames are involved. Find out what guarantees, if any, are available.
____________		Real Estate Agent: Fill out and sign the listing agreement. Ask about the process to fire him if the job isn't done correctly. Be loyal to a good agent and realize they are both professionals and humans. Fill out the Multiple Listing Service (MLS) detail sheet. Fill out the Seller's Real Property Disclosure (SRPD) and other important documentation.
____________		Personal: Set the price and terms for you listing. Your agent will provide you with market analysis to help you understand true home values in your area. Now is usually time for a pride check for most sellers. Look objectively and realistically at your home compared to other homes in the area. If you want your home to sell quickly you need to be priced under market value. If you want the most money for your home then consider that your place may sit on the market for a time before a suitable buyer comes along.
____________		Personal: Consider paying for an appraisal ahead of time to pin point the assessed value. It may strengthen your case when you negotiate offers as well.

Stage 2: Marketing Your Property

Assignment	Status	Task
____________		Personal: Make calls to family and friends to see if someone is already willing to purchase your property. Regardless if you know a buyer for your home or not you will likely be paying the same amount to your agent. Believe it or not, the real work begins for a seller's agent once the buyer has been found. The marketing, as challenging as it may be is only the beginning to the process.
____________		Real Estate Agent: Your agent will begin to market your property on the MLS, the internet, with flyers at the location, to his network of buyers, etc. Work with your agent as needed to get the job done. Certain markets will need special marketing and may require more time than others. Have your agent set your expectations according to market averages for your type of property. Be patient and keep your property presentable.

Stage 3: Negotiate a Contract

Assignment	Status	Task
____________		Personal: Once offers are presented consider them all. If you took care of business in stages 1 and 2 then you will likely receive some great offers. Work with your agent to determine your options and which is best for you. In the end it is your decision. Move slowly to accept the first offer or couple of offers. However, be careful to not pass up a great opportunity to sell your home once it is listed in hopes of another "better" offer. If the offer just won't work then it won't work. However, once you reject an offer you may not get the chance at one like it again. Consider them all and choose the best. Countering offers in your favor is usually better than just rejecting them. Don't get offended by poor offers. Investors will offer on anything and get lucky sometimes with hyper-motivated sellers.
____________		Agent: Once you have received an offer your agent will present it to you. He/she will do a lot of negotiating behind the scenes on your behalf. Be sure your agent qualifies the buyer as well as possible especially regarding his/her/their buying power and qualifications.
____________		Personal: If your team receives another counter offer approach it objectively and don't become emotionally offended or over excited. Keep a level head and make a decision. If there is room to work keep at the negotiations until the contract is in place. If the offer is outlandish you may need to reject it.

Stage 4: Escrow

Assignment	Status	Task
____________		Loan Officer: If a real estate transaction falls apart it is very often because of something related to the buyer's financial situation. You are very dependant on the buyer's loan officer. They will need to do certain steps pretty much daily to get the loan to close.
____________		Personal: Hang in there! These days of escrow have been called "hell month" for very valid reasons. Plan to hit one major road block and three smaller ones. Be creative and use your team to get over, around, or through them. It is easy to get emotional because of all of the events that happen. Try to keep the emotions at bay or deal with them constructively. Make objective, well educated decisions. Stay in contact with your agent every couple of days if not daily to track progress. If your agent asks you for something (usually documentation for something) get it to them as soon as possible. Don't be the one holding up some step of the closing process.
____________		Agent: Technically your agent has done his job when he has found a qualified buyer. However, quality agents should serve like glue to hold a deal together. They will continue to help you negotiate, control paper flow, and provide advice and suggestions.
____________		Title Officer: Your home will be investigated by a title officer. You will likely not be involved but know they are looking for liens, title issues, etc.
____________		Personal: Hang in there (again)!!!! You can do it.

Stage 5: Closing

Assignment	Status	Task
____________		Loan Officer: Once the buyer's loan has gone through underwriting the loan officer will order the docs and send them to title. Congratulations loan officer!
____________		Title Officer: Once the docs are in you will set an appointment to sign. The other party will also sign. The title office will submit the docs for recording and the loan will fund.
____________		Personal: You have officially sold when you receive your check (if you sell for more than it is worth) or paid the balance and received the statement. Congratulations!
____________		Agent: Delivers house keys to buyer's agent. Congratulations!

NOTE: Information on this site is not guaranteed to be accurate. Some content is compiled from 3rd party sources. If you are aware of incorrect or outdated information, feel free to contact us.