Want to know what a Realtor does to earn their commission?

When you hire a real estate agent to sell your home, there are obvious things you notice them doing to help your house sell. Things like: hosting open houses, bringing potential buyers on home tours, and marketing your property in multiple ways to make sure it gets enough exposure.

But when it comes to adding value to your home sale, that’s just the tip of the iceberg. A huge percentage of your agent’s job takes place behind-the-scenes, and they’re working around the clock to get your house sold — even when you’re not looking.

Here are 4 behind-the-scenes way your real estate agent is working to get your house sold:

1. Performing market research

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When it comes to pricing your home, your agent doesn’t just pull a random number out of a hat. Your agent’s recommendation is a result of extensive market research to ensure your home is priced in a way that’s attractive to both buyers and you, the seller.

Agents pull data on comparable properties in your area (from both the MLS and any public databases) for the past 12 to 18 months. They research how each home was priced and how the price correlated to the average time the property sat on the market before coming up with a CMA (comparable market analysis) to determine the market value of your property and suggest a listing price.

All the insights gathered from your agent’s behind-the-scenes research are crucial to pricing your property correctly — and wouldn’t be possible without your agent’s hard work.

2. Gathering relevant information for buyers

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A critical part of the home selling process is providing accurate and complete information to potential buyers. But most of the information buyers want isn’t something you, as a seller, will have ready and available.

Your agent gathers all the information a potential buyer might want to know so that if and when they request it, it’s ready to go. Agents research things like the average utility usage of your property for the past 12 months, a breakdown of the home’s floor plan, and a list of all available electricity and gas vendors in the area to make it available to buyers, which saves you a ton of time and hassle.

3. Phone calls and scheduling

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As part of their marketing efforts, your agent likely has your property listed on both the MLS and multiple public forums in order to get your home in front of as many potential buyers as popular. And while the increased exposure is great for driving interest in your home, someone needs to manage all the inquiries, follow up with interested buyers, and schedule viewings.

And that person is your real estate agent.

When your agent calls you to schedule a tour, that’s just a small part of the process. Before they called you, they’ve already answered email inquiries, fielded multiple phone calls, talked to buyer’s agents, and weeded out people who aren’t serious about viewing — and potentially buying — your home.

The call you get to schedule the tour is the last step in a lengthy scheduling process — most of which your agent manages behind-the-scenes.

4. Managing the close (and all the logistics that go with it)

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Now, once a qualified buyer makes an offer on your home — and you decide to accept it — your agent’s job goes into high gear. Now, that’s not to say that managing the close happens entirely behind-the-scenes; obviously, your agent is going to work with you to get the job done. There’s plenty of the closing process (from negotiating with the buyers to reviewing contracts) that you’ll get to witness up close and personal.

But there’s a lot more that goes into managing the close of your home then what you actually see from your agent.

They have to make sure the signed contracts are sent to everyone who needs a copy, including the lender, the buyer’s agent, the title company, and any involved attorneys. They have to file a status change with the MLS from “For Sale” to “Pending” and, finally, to “Sold.” They need to schedule the final walkthrough with the buyers and their agent.

Closing on your home? It’s kind of a logistical nightmare.

But luckily for you, when you work with a real estate agent, they take care of all the (many) details and logistics that need to be managed throughout the closing process, saving you immeasurable time, money, and frustration.

When you work with a real estate agent, it’s easy to see the value that they bring to the table during the process of selling your home. But what you see is just the beginning. The hours you see your agent putting in — the home tours, the open houses, the phone calls — are just a tiny fraction of the work they’re actually doing. Your agent is working around the clock to get your home sold… and the majority of that work takes place behind-the-scenes.

AND just in case you’re wondering what else we do….

Pre-Listing Activities

1. 1. Make appointment with seller for listing presentation
   2. Send seller a written or e-mail confirmation of listing appointment and call to confirm
   3. Review pre-appointment questions
   4. Research all comparable currently listed properties
   5. Research sales activity for past 18 months from MLS and public records databases
   6. Research “Average Days on Market” for this property of this type, price range and location
   7. Download and review property tax roll information
   8. Prepare “Comparable Market Analysis” (CMA) to establish fair market value
   9. Obtain copy of subdivision plat/complex lay-out
   10. Research property’s ownership & deed type
   11. Research property’s public record information for lot size & dimensions
   12. Research and verify legal description
   13. Research property’s land use coding and deed restrictions
   14. Research property’s current use and zoning
   15. Verify legal names of owner(s) in county’s public property records
   16. Prepare listing presentation package with above materials
   17. Perform exterior “Curb Appeal Assessment” of subject property
   18. Compile and assemble formal file on property
   19. Confirm current public schools and explain impact of schools on market value
   20. Review listing appointment checklist to ensure all steps and actions have been completed

Listing Appointment Presentation

1. 1. Give seller an overview of current market conditions and projections
   2. Review agent’s and company’s credentials and accomplishments in the market
   3. Present company’s profile and position or “niche” in the marketplace
   4. Present CMA Results To Seller, including Comparables, Solds, Current Listings & Expireds
   5. Offer pricing strategy based on professional judgment and interpretation of current market conditions
   6. Discuss Goals With Seller To Market Effectively
   7. Explain market power and benefits of Multiple Listing Service
   8. Explain market power of web marketing, IDX and REALTOR.com
   9. Explain the work the brokerage and agent do “behind the scenes” and agent’s availability on weekends
   10. Explain agent’s role in taking calls to screen for qualified buyers and protect seller from curiosity seekers
   11. Present and discuss strategic master marketing plan
   12. Explain different agency relationships and determine seller’s preference
   13. Review and explain all clauses in Listing Contract & Addendum and obtain seller’s signature Once Property is Under Listing Agreement
   14. Review current title information
   15. Measure overall and heated square footage
   16. Measure interior room sizes
   17. Confirm lot size via owner’s copy of certified survey, if available
   18. Note any and all unrecorded property lines, agreements, easements
   19. Obtain house plans, if applicable and available
   20. Review house plans and make copy
   21. Order plat map for retention in property’s listing file
   22. Prepare showing instructions for buyers’ agents and agree on showing time window with seller
   23. Obtain current mortgage loan(s) information: companies and & loan account numbers
   24. Verify current loan information with lender(s)
   25. Check assumability of loan(s) and any special requirements
   26. Discuss possible buyer financing alternatives and options with seller
   27. Review current appraisal if available
   28. Identify Home Owner Association manager if applicable
   29. Verify Home Owner Association Fees with manager – mandatory or optional and current annual fee
   30. Order copy of Homeowner Association bylaws, if applicable
   31. Research electricity availability and supplier’s name and phone number
   32. Calculate average utility usage from last 12 months of bills
   33. Research and verify city sewer/septic tank system
   34. Water System: Calculate average water fees or rates from last 12 months of bills )
   35. Well Water: Confirm well status, depth and output from Well Report
   36. Natural Gas: Research/verify availability and supplier’s name and phone number
   37. Verify security system, current term of service and whether owned or leased
   38. Verify if seller has transferable Termite Bond
   39. Ascertain need for lead-based paint disclosure
   40. Prepare detailed list of property amenities and assess market impact
   41. Prepare detailed list of property’s “Inclusions & Conveyances with Sale”
   42. Compile list of completed repairs and maintenance items
   43. Send “Vacancy Checklist” to seller if property is vacant
   44. Explain benefits of Home Owner Warranty to seller
   45. Assist sellers with completion and submission of Home Owner Warranty Application
   46. When received, place Home Owner Warranty in property file for conveyance at time of sale
   47. Have extra key made for lockbox
   48. Verify if property has rental units involved. And if so:
   49. * Make copies of all leases for retention in listing file
   50. * Verify all rents & deposits
   51. * Inform tenants of listing and discuss how showings will be handled
   52. Arrange for installation of yard sign
   53. Assist seller with completion of Seller’s Disclosure form
   54. “New Listing Checklist” Completed
   55. Review results of Curb Appeal Assessment with seller and provide suggestions to improve salability
   56. Review results of Interior Décor Assessment and suggest changes to shorten time on market
   57. Load listing into transaction management software program

Entering Property in Multiple Listing Service Database

1. 1. Prepare MLS Profile Sheet — Agents is responsible for “quality control” and accuracy of listing data
   2. Enter property data from Profile Sheet into MLS Listing Database
   3. Proofread MLS database listing for accuracy – including proper placement in mapping function
   4. Add property to company’s Active Listings list
   5. Provide seller with signed copies of Listing Agreement and MLS Profile Sheet Data Form within 48 hours
   6. Take additional photos for upload into MLS and use in flyers. Discuss efficacy of panoramic photography

Marketing The Listing

1. 1. Create print and Internet ads with seller’s input
   2. Coordinate showings with owners, tenants, and other Realtors®. Return all calls – weekends included
   3. Install electronic lock box if authorized by owner. Program with agreed-upon showing time windows
   4. Prepare mailing and contact list
   5. Generate mail-merge letters to contact list
   6. Order “Just Listed” labels & reports
   7. Prepare flyers & feedback faxes
   8. Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability
   9. Prepare property marketing brochure for seller’s review
   10. Arrange for printing or copying of supply of marketing brochures or fliers
   11. Place marketing brochures in all company agent mail boxes
   12. Upload listing to company and agent Internet site, if applicable
   13. Mail Out “Just Listed” notice to all neighborhood residents
   14. Advise Network Referral Program of listing
   15. Provide marketing data to buyers coming through international relocation networks
   16. Provide marketing data to buyers coming from referral network
   17. Provide “Special Feature” cards for marketing, if applicable
   18. Submit ads to company’s participating Internet real estate sites
   19. Price changes conveyed promptly to all Internet groups
   20. Reprint/supply brochures promptly as needed
   21. Loan information reviewed and updated in MLS as required
   22. Feedback e-mails/faxes sent to buyers’ agents after showings
   23. Review weekly Market Study
   24. Discuss feedback from showing agents with seller to determine if changes will accelerate the sale
   25. Place regular weekly update calls to seller to discuss marketing & pricing
   26. Promptly enter price changes in MLS listing database

The Offer and Contract

1. 1. Receive and review all Offer to Purchase contracts submitted by buyers or buyers’ agents.
   2. Evaluate offer(s) and prepare a “net sheet” on each for the owner for comparison purposes
   3. Counsel seller on offers. Explain merits and weakness of each component of each offer
   4. Contact buyers’ agents to review buyer’s qualifications and discuss offer
   5. Fax/deliver Seller’s Disclosure to buyer’s agent or buyer upon request and prior to offer if possible
   6. Confirm buyer is pre-qualified by calling Loan Officer
   7. Obtain pre-qualification letter on buyer from Loan Officer
   8. Negotiate all offers on seller’s behalf, setting time limit for loan approval and closing date
   9. Prepare and convey any counteroffers, acceptance or amendments to buyer’s agent
   10. Fax copies of contract and all addendums to closing attorney or title company
   11. When Offer to Purchase Contract is accepted and signed by seller, deliver to buyer’s agent
   12. Record and promptly deposit buyer’s earnest money in escrow account.
   13. Disseminate “Under-Contract Showing Restrictions” as seller requests
   14. Deliver copies of fully signed Offer to Purchase contract to seller
   15. Fax/deliver copies of Offer to Purchase contract to Selling Agent
   16. Fax copies of Offer to Purchase contract to lender
   17. Provide copies of signed Offer to Purchase contract for office file
   18. Advise seller in handling additional offers to purchase submitted between contract and closing
   19. Change status in MLS to “Sale Pending”
   20. Update transaction management program show “Sale Pending”
   21. Review buyer’s credit report results — Advise seller of worst and best case scenarios
   22. Provide credit report information to seller if property will be seller-financed
   23. Assist buyer with obtaining financing, if applicable and follow-up as necessary
   24. Coordinate with lender on Discount Points being locked in with dates
   25. Deliver unrecorded property information to buyer
   26. Order septic system inspection, if applicable
   27. Receive and review septic system report and assess any possible impact on sale
   28. Deliver copy of septic system inspection report lender & buyer
   29. Deliver Well Flow Test Report copies to lender & buyer and property listing file
   30. Verify termite inspection ordered
   31. Verify mold inspection ordered, if required

Tracking the Loan Process

1. 1. Confirm Verifications Of Deposit & Buyer’s Employment Have Been Returned
   2. Follow Loan Processing Through To The Underwriter
   3. Add lender and other vendors to your management program so agents, buyer and seller can track progress of sale
   4. Contact lender weekly to ensure processing is on track
   5. Relay final approval of buyer’s loan application to seller

Home Inspection

1. 1. Coordinate buyer’s professional home inspection with seller
   2. Review home inspector’s report
   3. Enter completion into transaction management tracking software program
   4. Explain seller’s responsibilities with respect to loan limits and interpret any clauses in the contract
   5. Ensure seller’s compliance with Home Inspection Clause requirements
   6. Recommend or assist seller with identifying and negotiating with trustworthy contractors to perform any required repairs
   7. Negotiate payment and oversee completion of all required repairs on seller’s behalf, if needed

The Appraisal

1. 1. Schedule Appraisal
   2. Provide comparable sales used in market pricing to Appraiser
   3. Follow-Up On Appraisal
   4. Enter completion into transaction management program
   5. Assist seller in questioning appraisal report if it seems too low

Closing Preparations and Duties

1. 1. Contract Is Signed By All Parties
   2. Coordinate closing process with buyer’s agent and lender
   3. Update closing forms & files
   4. Ensure all parties have all forms and information needed to close the sale
   5. Select location where closing will be held
   6. Confirm closing date and time and notify all parties
   7. Assist in solving any title problems (boundary disputes, easements, etc) or in obtaining Death Certificates
   8. Work with buyer’s agent in scheduling and conducting buyer’s Final Walk-Thru prior to closing
   9. Research all tax, HOA, utility and other applicable prorations
   10. Request final closing figures from closing agent (attorney or title company)
   11. Receive & carefully review closing figures to ensure accuracy of preparation
   12. Forward verified closing figures to buyer’s agent
   13. Request copy of closing documents from closing agent
   14. Confirm buyer and buyer’s agent have received title insurance commitment
   15. Provide “Home Owners Warranty” for availability at closing
   16. Reviews all closing documents carefully for errors
   17. Forward closing documents to absentee seller as requested
   18. Review documents with closing agent (attorney)
   19. Provide earnest money deposit check from escrow account to closing agent
   20. Coordinate this closing with seller’s next purchase and resolve any timing problems
   21. Have a “no surprises” closing so that seller receives a net proceeds check at closing
   22. Refer sellers to one of the best agents at their destination, if applicable
   23. Change MLS status to Sold. Enter sale date, price, selling broker and agent’s ID numbers, etc.
   24. Close out listing in your management program

Follow Up After Closing

1. Answer questions about filing claims with Home Owner Warranty company if requested
2. Attempt to clarify and resolve any conflicts about repairs if buyer is not satisfied
3. Respond to any follow-on calls and provide any additional information required from office files.