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Mark, I'm fine with your list for the most part. 6/11 are conflicting statements. Going back to #6 I'll make the buyer be prequalified prior to showing and I won't just run out and meet a stranger at the property. I'll make them come by the office so I can screen them. If all checks out I'll show. If they are a serious buyer they'll comply to a request to get a PQ and meet in the office first. If not serious then they won't. Our agreement actually stipulates we'll qualify the buyers but that is a vague statement. "Qualifying" the buyers could be as simple as the agent asking if they would be interested in buying the home or as detailed as making them get a pq letter.
I did not mean them to be conflicting.
I just mean that many brokers/agents know what each other are looking for...When you list my house and you know that a broker has a client looking for that exact listing you should pursue that lead, not wait for that broker to find out about it...call that broker and say hey, I just listed exactly what you have been looking for!
What I don't want is for a buyer to see the MLS listing, contact you, and then you refer them to a buyers agent because you are intimidated by unrepresented buyers.
I see more and more and more people who are comfortable with real estate transaction who are not wanting to use a buyers agent for any number of reasons....I just want to accommodate all who want to see the property as long as they are legitimate.
I would have no problem with you getting them to come to the office first.
Wouldn't unrepresented buyers be the only ones your listing agent is showing the house to? I would expect if the buyer have an agent they would do the showing.
In general I believe it is the listing agents job to:
1. Take or have taken good photographs of the property.
2. If taking their own photos I expect a listing agent to have a nice camera....a Canon rebel, or NIKON 60 or better. I expect the agent to have a multitude of lenses for that camera. A wide angle 35mm lens is necessary for a good listing photograph in tight spaces...a 15mm lens may be required when dealing with small homes...A good variable focus lens for outdoor photographs.
3. Do a CMA and tell me what other comps in the area have sold for and what your opinion of my property is.
4. List the home on the proper MLS for the area...in Houston its HAR, with a national MLS listing. HAR sells houses in Houston...its invaluable.
5. Answer emails and phone calls about the listing.
6. Show the listing to prospective buyers, even unrepresented ones. I am ok here if you want to require some pre-qualifications so you are not wasting your time. Im not ok with you passing the person off to someone else in your agency though.
7. Promptly pass feedback on viewings, comments, offers, etc to me after talking to buyers or their agents. Feedback can help correct something that you did not know was a problem...if the listing agent is disconnected from the showings entirely and does not inquire you may never know that something was a problem.
8. COMMUNICATE EFFECTIVELY AND TIMELY - if it takes you 4 hours during regular business hours to get back to me, something is wrong unless you have already told me that you will be unavailable. Your job is to be constantly available...many times time is the most important factor.
9. Look out for my interest above everything else, and NEVER to lie or exaggerate when talking to me.
10. Transmit information to buyers timely....I will give you the floor plans, survey, deed restrictions, property taxes, etc, etc, etc....it is your job to pass all of this information on to anyone who requests it. I don't expect you to show the property to anyone, but I do expect you to give the information requested to anyone.
11. I do expect you to advertise my listing to your broker friends as well...your supposed to be plugged in and know who is looking for what....I expect you to utilize those contacts on my behalf.
Good list, would add to that:
Clarify in writing the following:
1) How long it will take for pictures to be completed and posted on MLS? We were told a few days, took over a week.
2) Brochures in house for showings? Color vs BW? Sellers right to review and edit prior to printing
3) Flyers at For sale sign? Unlimited supply? Color vs B&W. I am surprised at how many of these are empty?
4) Do you want price printed on brochures and flyers? If so, clarify with your agent if they will print new ones if there is a price reduction. Looks tacky when agents cross off the the price and write the new reduced price.
5) Open houses? If yes, how often?
6) Agent luncheon at property for other agents? If so, when?
7) Anything else you want from the agent..put it in writing prior to signing the LA.
In a short sale situation it is a SIGNIFICANT advantage to use the same agent as the seller.
There is little difference to the seller between offers and the listing agent benefits significantly by representing both.
Granted an offer that is too low will be countered by the bank, but getting your offer accepted by the seller is the first step and depending on the BPO may give a purchaser a screaming deal on a property.
In hot markets properties go pending almost immediately so I would suggest not using an agent and contacting the listing agent directly. This assumes a level of sophistication to navigate the process (and again, always have a good attorney review .
In a short sale situation it is a SIGNIFICANT advantage to use the same agent as the seller.
There is little difference to the seller between offers and the listing agent benefits significantly by representing both.
Granted an offer that is too low will be countered by the bank, but getting your offer accepted by the seller is the first step and depending on the BPO may give a purchaser a screaming deal on a property.
In hot markets properties go pending almost immediately so I would suggest not using an agent and contacting the listing agent directly. This assumes a level of sophistication to navigate the process (and again, always have a good attorney review .
I think this is dreadful advice, unless one is so capable that the attorney is hardly needed. If anyone needs an attorney in a short sale, it is the seller who may end up with deficiency and/or a promissory note.
Listing agent is still a fiduciary to seller in a short sale and should be helping to avoid deficiency or excess promissory note exposure, unless in dual agency.
Additionally, there are common terms other than price in a short sale, like any other sale, and the terms can be material to seller.
4) Do you want price printed on brochures and flyers? If so, clarify with your agent if they will print new ones if there is a price reduction. Looks tacky when agents cross off the the price and write the new reduced price.
I absolutely HATE when agents do this. Is it really so horrible to throw away (or recycle) a few sheets of paper? Marketing materials should look professional at all times. My other major pet peeve is when agents take listing photos with their phone.
I absolutely HATE when agents do this. Is it really so horrible to throw away (or recycle) a few sheets of paper? Marketing materials should look professional at all times. My other major pet peeve is when agents take listing photos with their phone.
With the price of an exceptional camera as low as it is there is no excuse whatsoever for bad photos of a property. Bad photos and misspelled words in a listing drive me crazy!
With the price of an exceptional camera as low as it is there is no excuse whatsoever for bad photos of a property. Bad photos and misspelled words in a listing drive me crazy!
Photos are a whole thread... agents are doing a pretty good job nowadays. Many crappy homes have crappy photos. A family who won't clean up the house, a tenant with bad furniture, a vacant house all make for bad photos.
Many of the misspelling is bad abbreviations because we have a limited letter count we can use in the MLS. It was worse 5-10 years ago and most agents now write their descriptions for the public and not just for agents like the old days.
And then there are bad agents that take bad pics and misspell. Many times, They are the agents who must discount their fees to get the business.
Photos are a whole thread... agents are doing a pretty good job nowadays. Many crappy homes have crappy photos. A family who won't clean up the house, a tenant with bad furniture, a vacant house all make for bad photos.
Many of the misspelling is bad abbreviations because we have a limited letter count we can use in the MLS. It was worse 5-10 years ago and most agents now write their descriptions for the public and not just for agents like the old days.
And then there are bad agents that take bad pics and misspell. Many times, They are the agents who must discount their fees to get the business.
Its pretty easy to get around the MLS letter count by just using photo editing software and putting the words on the photo itself...
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