Working With Home Sellers
Listings offer a powerful multiplier effect: each listing can generate multiple buyer and seller leads from those interested in the property. Listing leads are often the highest quality, and managing a listing typically involves less work compared to working with buyers—no need to schedule multiple showings or submit numerous offers.
I Have a Lead, What Do I Do?
Set the Appointment
Your primary goal is to meet the seller in person at the property for a listing presentation. Sellers typically want to know two things: how much you’ll charge and your estimate of their home’s value. When scheduling the appointment, ask some basic questions to help you gauge a comparative market analysis range since you haven’t seen the home yet. Inquire about the number of bedrooms and bathrooms, square footage, whether there’s a pool or garage, the age and type of the roof, the general condition of the property (remodeled or a fixer-upper), the type of countertops (granite, laminate, etc.), and the condition and age of the AC and kitchen appliances.
Prepare Comps
You have several tools at your disposal for this, including your MLS. Another effective option is to sign up for an account on NARRPR.com, where you can create a comprehensive and user-friendly Comparative Market Analysis (CMA). Choose comparable properties that match in square footage, bedrooms, bathrooms, property type, etc., and that have sold within the last 3-6 months, ideally close to the subject property.
Gather the Paperwork & Prepare the Presentation
Use the Presentation Template we’ve set up here to create your listing presentation. Download here. Next, set up a listing side residential loop in Dotloop, which will automatically populate the necessary documents and company disclosures. Add any additional documents that may be required, such as the seller disclosure or specific addendums like Lead Paint, HOA, or Condo addendums. Complete as much of the paperwork as possible beforehand, then either print out the documents or bring your laptop to the home to present them electronically.
Tour the Home
Take a thorough tour of the home, as sellers may describe it more favorably than it truly is. Observe everything carefully without commenting on any negatives just yet—use your observations to mentally adjust your comps. Pay attention to details like clutter, the condition of the paint and furniture, and the age of the roof and AC.
Do the Listing Presentation & Go Over Paperwork
During the presentation, explain the general process of selling a home and provide your assessment of the property’s value, while emphasizing that the final pricing decision is theirs. If necessary, suggest staging or decluttering to make the home more appealing. Highlight the importance of professional photography, which you will cover—since nearly all buyers start their search online, high-quality photos serve as crucial digital advertisements.
Discuss your marketing plan, including putting up a for sale sign, email marketing to other brokers and within your firm, and listing the home on the MLS. Explain how the MLS feeds data to third-party sites like Zillow, Trulia, Realtor.com, and others. Mention that you can host open houses, promote the property on social media (through Facebook and Instagram ads on your business pages), coordinate showings, gather feedback, and handle negotiations, including offers and inspection issues.
Clearly state your commission rate—e.g., a total of 2.5%. Make sure you are familiar with the listing agreement and prepared to answer any questions. Lastly, ask if there are any items that will be excluded from the sale and won’t convey with the home.
I Have A Listing, What Now?
Singing the Listing Paperwork
If they’re ready to sign, go ahead and complete the paperwork on the spot. If they need more time to think it over, you can always email the documents later for electronic signature. If they decide to sign now but prefer not to list the property on the MLS immediately—perhaps to clean, paint, or make other preparations—you can have them sign an MLS waiver. Just remember, the property cannot be advertised in any way during the waiver period. If any advertising does occur, the property must be listed on the MLS within 24 hours, per NAR’s “Clear Cooperation Policy.”
Upload and Submit Signed Paperwork
Congratulations—the listing agreement is signed! Upload it to your loop and submit it to our compliance team for review. Be sure to email a fully signed copy to your seller within 24 hours. Additionally, ensure your seller signs the seller disclosure, any required Dalton Wade disclosures, and any applicable addendums if they haven’t already done so during the listing appointment.
Start the Listing in the MLS
Ensure you’ve completed the required add/edit classes for your MLS, if applicable. Create the listing as soon as possible, and always check with your MLS regarding the deadline for making the listing live (for example, Stellar MLS requires it within 5 days of signing the listing agreement). If you don’t plan to make it live within that timeframe, have an MLS waiver signed and submit it to the MLS. Keep in mind that no marketing can occur during the waiver period. If any marketing does take place, the property must be live on the MLS within 24 hours (refer to the Clear Cooperation Policy for details).
When creating the listing, enter the information provided by the seller and from public records, upload photos and attachments (such as addendums and the seller disclosure), and save it as incomplete. Before making it live, print out an MLS broker synopsis with all the details and send it to your seller for review and approval to ensure they agree with the information.
Install For Sale Sign
If permitted by the community (verify with the HOA), install a listing sign. Ensure you have the signs ready and consider ordering sign post installation from various companies. Do some research or ask for recommendations in our DWA Facebook group for local services. Once everything is set, hang your sign!
Make the Listing Live & Market Home
Make the listing live in the MLS within the required time frame and ensure it is distributed to all third-party sites if permitted by the seller. It will then appear on Zillow, Trulia, Realtor.com, Homes.com, brokerage IDX feeds, and your Dalton Wade website. Additionally, promote the listing through other channels such as Facebook and Instagram ads, Google ads, in-house on the Agent Facebook Group, email marketing to other brokers, and open houses.
Showings
Coordinate showing requests to fit your seller’s schedule, ensuring they are out of the house during showings. Be sure to collect feedback from each showing and share it with the seller.
Offers
In a competitive seller’s market with multiple offers, discuss with your seller whether to set a “highest and best” deadline for all offers to be submitted by. This approach can encourage buyers to submit their most competitive offers and potentially secure a higher price for the home.
If your seller chooses not to set a deadline, they can review offers as they arrive. Be sure to review each offer thoroughly with your seller, considering all terms beyond just the price. If negotiations are necessary, handle them one offer at a time. Provide your expertise and recommendations, but remember, the final decision on which offer to accept rests with the seller.
Signing the Offer
Once your seller has selected an offer, ensure they sign and initial all necessary areas on the agreement. Then, promptly return a copy of the signed document to the buyer’s agent.
I Am Under Contract, What Do I Do?
Get the Fully Signed Contract Back & Confirm All Deadlines
Obtain the fully signed contract, seller disclosure, and any addenda. Confirm with the buyer’s agent that both parties agree on all deadlines and the effective date. The effective date is the day the last party signs and provides copies to the other party.
Get the Signed Contract Documents to All Parties
Immediately send the contract and addenda to the title company, lender, buyer’s agent, and your seller—don’t assume the other agent has sent them. Inform the seller of all the buyer’s contract deadlines in writing (a detailed email is best), and keep them updated on whether each deadline is met or missed.
Submit Paperwork in Dotloop
Our compliance department needs to review your paperwork to protect you and the company from potential issues, such as legal disputes. Please ensure you submit your paperwork promptly (attend Dotloop training to learn more).
Deposit Deadline
Verify with the title company to obtain a deposit receipt, confirming that the buyer submitted their deposit by the contract deadline. If the deposit was not received on time, the seller may have grounds to cancel the contract.
Loan Application
If the buyer is financing the purchase, confirm with the lender that the loan application was completed by the contract deadline.
Homeowner Association Documents
If the property is in a condo or homeowner association, request the documents from the seller, but also contact the Property Management Company directly. Sellers often don’t have the complete set of documents required. By law in Florida, the buyer has 3 days to review all documents, or they may cancel if not provided everything. Ensure you obtain the declaration, articles of incorporation, rules and regulations, any applicable buyer applications, amendments, most recent financials, ARC guidelines, and any other relevant documents.
Inspections
Contact the buyer’s agent to confirm the schedule for their desired inspection(s) and ensure it aligns with your seller’s availability, as they will need to vacate the property for several hours. After the inspection, inquire if the buyer has any repair or credit requests. Remember, depending on the type of contract used, the seller is not obligated to make any repairs. Any agreements should be documented in a fully signed addendum before the deadline.
Title Documents: Review All
Review the Title Commitment, Lien Search, HOA Estoppel, Survey, and Elevation Certificate. The title company will conduct a title and lien search, and will also obtain an HOA estoppel (if applicable) and a boundary line survey (if required for financing). If your seller has a recent survey or elevation certificate (for flood zones), provide these to the buyer and title company to determine if they can be used (they must be within a certain time frame and unchanged, such as by a new fence). Request these documents from the title company as they become available to stay informed about any liens or HOA obligations that your seller needs to address before closing.
Appraisal
If the deal is financed, confirm that the lender has ordered the appraisal promptly and coordinate with the appraiser to schedule a convenient time for your seller. Follow up to find out when the appraisal report is expected, especially if you have a deadline in your contract. If the appraisal comes in below the contract price, refer to your contract to determine if negotiations are possible or if the transaction will proceed as is. For more details, attend our full contract training!
Loan Commitment
If the buyer is financing the purchase, request the loan commitment from the lender before the contract deadline. If the lender cannot provide it on time, the seller may choose to extend the deadline in writing, with approval from all parties. If the seller does not agree to an extension, the buyer can either proceed with the transaction and waive their financing contingency, which means their deposit won’t be protected, or cancel the deal to receive a refund of their deposit before the deadline. If the buyer fails to provide the loan commitment and does not inform you of their intention to waive the financing contingency, the seller can cancel the contract within 3 days after the deadline has passed and refund the buyer’s deposit.
Commission Disbursement Authorization (CDA)
Complete your CDA and get it signed by us at least 10 days before closing. Then, submit it to the title company to ensure you receive your payment at closing. The title company will mail us the check.
Schedule the Final Walkthrough & Closing
Ensure the buyer’s agent has arranged the final walk-through at a time when the seller is out, with all belongings removed and the property cleaned. Also, schedule a time for your seller to sign the closing documents at the title company. If your seller is out of town, inform the title company in advance and remind them to arrange a mobile notary for the seller’s signature.
Remind Sellers To Shut Off Utilities
Remind your seller to contact the water, electric, and gas companies a few days to a week before closing to arrange for the utilities to be turned off and transferred out of their name starting the day after closing. This will ensure a smooth transfer of ownership with no service interruptions during the final walk-through.
Closing Disclosure
If the buyer is obtaining a loan, they must receive a Closing Disclosure from the lender at least 3 business days before closing, as required by TRID regulations. Ensure this deadline is met. If it is not, the deal must be extended, or the seller may cancel if an extension is refused.
Check on the Walkthrough & Attend Closing
Confirm with the buyer’s agent that the walk-through went smoothly and that there are no issues. Then, attend the closing with your seller and consider giving them a closing gift to mark the occasion!
Post Closing
After closing, update your Zillow, Realtor.com, and other profiles with the details of your closed sale. Promote it on your social media business pages as well. Ask your clients for reviews and gently remind them to share their feedback on platforms like Zillow, Realtor.com, Facebook, and Google. Keep in touch with your clients, as you never know when they might need your services again or refer you to others.
Join Dalton Wade
To schedule a confidential interview and learn how Dalton Wade can help you grow as a real estate professional and keep more of the commission dollars you generate call the number to the right or email us.