Duty of Property Negotiator:
- Comparative Market Analysis (CMA) — an estimate of the home’s value compared with others. This differs from an appraisal in that property currently for sale may be taken into consideration. (competition for the subject property)
- Total Market Overview — an objective method for determining a home’s value, where a CMA is subjective.
- Exposure — Marketing the real property to prospective buyers.
- Facilitating a Purchase — guiding a buyer through the process.
- Facilitating a Sale — guiding a seller through selling process.
- Document preparation — preparing necessary paperwork for “For Sale By Owner” sellers.
- Hourly Consulting for a fee, based on the client’s needs.
- Leasing for a fee or percentage of the gross lease value.
- Property Management
- Auctioning property.
- Preparing contracts and leases. (Depends on request).
To help accomplish this goal of finding buyers, a real estate agency commonly does the following:
- Listing the property for sale to the public, in addition to any other methods.
- Based on the law in several states, providing the seller with a real property condition disclosure form, and other forms that may be needed.
- Preparing necessary papers describing the property for advertising, pamphlets, open houses, etc.
- Generally placing a “For Sale” sign on the property indicating how to contact the real estate office and agent.
- Advertising the property. Advertising is often the biggest outside expense in listing a property.
- In some cases, holding an open house to show the property.
- Being a contact person available to answer any questions about the property and to schedule showing appointments
- Ensuring buyers are pre-screened so that they are financially qualified to buy the property; the more highly financially qualified the buyer is, the more likely the closing will succeed.
- In some cases, holding an earnest payment cheque in escrow from the buyer(s) until the closing.
