City of San Antonio leaders are expected in the coming months to approve the same property tax rate for next year that it levied last year, 55.827 cents per $100 of taxable valuation, which
What A Listing Agent Does
Once a homeowner decides to list their property, the real estate agents they choose to interview have work to do. The work may or may not pay off—it doesn’t really matter, it must be done in preparation for the interview. If more than one agent is being interviewed, some will have done work that is not compensated in any way. The agent gathers the relevant information and prepares a market analysis using similarly sized and aged homes. They may also drive out to the subdivision to look around. After the interview process, there is one winner and perhaps several losers.
The agent selected reviews and updates the market analysis, statistics and other data and prepares the documents required for a listing including the Residential Real Estate Listing Agreement Exclusive Right to Sell, the Seller’s Disclosure Notice, the Single Residential Units Data Form (for MLS), the Homeowner’s/Property Owners Association Profile Sheet, Showing Instructions for Centralized Showing Service, Seller’s Estimated Net Proceeds and other documents required by the Broker. After the agent meets with the Seller and the documents are signed, the next phase of work begins.
The agent may recommend that the Seller remove some furnishings and personal items, especially family photos and other personal mementos. The photo shoot is scheduled, photos and the virtual tour are received. When the photos are received, the agent places the photos and all required information tin MLS so the listing can “go live”. Postcards announcing the new listing may be ordered and mailed out to the residents of the subdivision. The agent may place an ad on social media announcing the new listing and any planned open house(s). (Some agents choose to door-knock homes located near the new listing to invite them to the open house.) The agent may also send an electronic mailing to every real estate agent member of the local Board of Realtors.
The agent is the point of contact for questions regarding the home. Initially there may only be a few questions until an offer or offers start coming in. After an offer has been accepted, the contract has strict timelines for getting the earnest money and termination option checks delivered. The contract requires adherence to an agreed number of dates for receiving/providing the survey and affidavit, the Seller’s Disclosure Notice, the Homeowners Association documents and for the lender to approve the Buyer for the mortgage loan. The agent must be aware of the number of days allowed for the Title Company to provide the owner’s title policy as well as the number of days the Buyer has to review various documents received. The receipt of these documents is critical to a successful closing of the purchase/sale. The closing date is closely monitored, checking in with the buyer’s agent and the lender to make sure the transaction is on track.
The agent negotiates repairs requested by the buyer and monitors progress on the agreed work. The agent provides copies of the receipts to the buyer’s agent and responds to questions regarding the repairs. Should a casualty loss occur, the agent has additional responsibility for monitoring and extending the contract.
When the closing documents are issued, the listing agent will review the document with the clients and answer questions. Many of us attend closing with our clients, making sure we are available to respond to their questions or concerns.
As you can see by the activities described above, the agent has significant responsibility when serving as the listing agent of a property. If you are in the San Antonio area and thinking about buying or selling a home and you are not already working with an agent, give me a call. I’d like to chat with you! Happy Fall 2018!
Sharon is a military wife who moved at the direction of the U.S. Army for nearly 30 years, a Federal employee who retired after 30 years of service, an active Broker Associate/REALTOR in San Antonio w....