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When selling or buying real estate, the role of a REALTOR® encompasses a multitude of tasks and responsibilities aimed at facilitating smooth transactions. There is even a list of 179 Tasks a REALTOR® does when listing a home or working with buyers to purchase! From pre-listing preparations to closing processes, real estate professionals execute a comprehensive strategy to ensure successful sales and purchases. While traditionally associated with agents, these tasks can be tackled by for sale by owner (FSBO) sellers and DIY homebuyers with the right knowledge and approach.
Pre-Listing Activities for For Sale By Owner Sellers
Schedule appointments with potential buyers for property presentations.
Confirm appointments via written or email communication and follow up with calls.
Prepare to answer questions potential buyers may have about the property.
Research comparable properties currently listed and recently sold in the area.
Study market trends, including average days on market and pricing benchmarks.
Gather property tax information and assess property tax implications.
Conduct a Comparative Market Analysis (CMA) to determine fair market value.
Obtain necessary documents such as subdivision plats and property deeds.
Understand property ownership details and verify legal descriptions.
Review property use codes, zoning regulations, and deed restrictions.
Research utility providers, including electricity, water, gas, and sewer services.
Identify any outstanding mortgage loans and ascertain loan details.
Prepare property disclosure forms and necessary documentation.
Assess property condition, amenities, and potential improvements.
Compile a detailed list of property inclusions, repairs, and maintenance history.
Helpful Links:
For Sale By Owner Websites:
Other Helpful Links:
Listing Presentation for For Sale By Owner Sellers
Present an overview of current market conditions and pricing strategies.
Showcase the property's unique features and value proposition.
Discuss marketing plans and strategies to reach potential buyers.
Explain the significance of web marketing and online listings.
Negotiate and finalize listing agreements and associated clauses.
Create property marketing materials, including brochures and advertisements.
Install yard signs and coordinate showings with interested buyers.
Schedule open houses and facilitate property viewings.
Manage inquiries from buyers and arrange contract negotiations.
Purchase Agreement Download
Seller Disclosure Statement
Purchase Activities for DIY Homebuyers
Research available properties within desired locations and price ranges.
Review property listings, including photos and descriptions.
Conduct neighborhood research to assess school districts and amenities.
Assess property value using online resources and market data.
Obtain financing pre-approval and assess loan options.
Schedule property viewings and attend open houses.
Evaluate property condition and consider inspection needs.
Prepare and submit purchase offers directly to sellers.
Negotiate terms, contingencies, and closing timelines.
Coordinate with lenders and attorneys to finalize financing.
Arrange property inspections and address inspection findings.
Verify property title and ensure legal compliance.
Review closing documents and understand closing costs.
Facilitate the closing process and coordinate final walkthroughs.
Post-Closing Follow-Up for DIY Homebuyers
File necessary claims with homeowner warranty companies.
Address post-closing inquiries and resolve outstanding issues.
By adopting a proactive approach and leveraging available resources, FSBO sellers and DIY homebuyers can navigate real estate transactions effectively. This comprehensive guide empowers individuals to take charge of their real estate journeys, mirroring the tasks performed by real estate professionals. While challenges may arise, informed decision-making and meticulous planning can lead to successful outcomes in the dynamic world of real estate.
-My Home, My Sale
Reviews
Sarah K., Realtor - Austin, TX
My Home, My Sale's targeted advertising helped me reach more FSBO sellers in my area. I've closed several deals thanks to their platform. ⭐⭐⭐⭐⭐
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