The Next Steps Your REALTOR®Takes Once You've Signed A Listing Agreement.

Once you've settled on terms, defined the agency relationship, reached an agreement, and signed your listing contract, your REALTOR will take the next steps. They will begin working in earnest preparing your home's MLS listing and begin organizing much of the legal paperwork and information needed when selling your home.

Simultaneously, they will prepare your listing, take photographs, prepare a profile, organize and prepare your Property File and Property Listing File before moving on to the next step;entering your property in the MLSand developing a marketing strategy to maximize exposure for your property in the market.

In this selling your homepost, we're going to examine all of the steps your REALTOR® will take from the time you signed a listing agreement until it's time to list your home on the MLS and begin marketing your home.

Selling Your Home: Once Your Property is Under A Listing Agreement

Your REALTOR® will have done a lot of preliminary work even before you've signed a listing agreement. They will have conducted a significant amount of research to determine the status of your local market, pull together preliminary documents, determine legal statuses like ownership and zoning, and developed a preliminary marketing strategy.

Now the work begins. Selling your home means pulling together the detailed information, data, and legal paperwork needed to prepare your MLS listing and compile your property listing file.

• Review your home's current title information.
• Measure overall heated square footage and interior room sizes.
• Confirm the lot size via the owner's certified survey, if available. Note any unrecorded property lines, agreements, and easements.
• Obtain and review house plans if applicable and available; make a copy.
• Order plat map for retention in property's listing file.
• Prepare showing instructions for buyer's agents and agree on a showing time window with the seller.

Once they have gathered the documents needed for the property listing file, your REALTOR® will gather your current financing information that includes:

• Obtaining the current mortgage loan information including companies, and loan account numbers.
• They will then verify the current information with the lender(s).
• Check if the loan is assumable, and note any special requirements.
• Discuss possible buyer financing alternatives and options with you your home's current appraisal if available.

Selling Your Home: Dealing with a Homeowner's Association

Ifyour home is in a neighborhood with a Homeowner's Association, it may be necessary to adjust your sales plan to meet the HOA bylaws. Your REALTOR® will research and contact the HOA to verify fees and bylaws.

• They will identify the HOA manager if applicable.
• Verify HOA fees with the manager, including the mandatory or optional and current annual fees.
• Your REALTOR® willthen order a copy of the Homeowner Association bylaws if applicable.

PreparingA Cost Analysis for Your Property: Calculating Utilities

The next step is to gather and analyze all utility information to include in the MLS listing and property listing folder. This is an important element of preparing a cost analysis for any potential buyers so they can understand your home's operating cost. This step includes the following tasks:

Research electricity availability, including the supplier's name and phone number.

• Research and verify city sewer / septic tank system.
• Research natural gas, verify the availability and supplier's name and phone number.
• They will then take this information and calculate average utility usage from the last 12 months of bills.
• Research your home's water system – if it's on city water, they will calculate usage and average water fees or rates from the last 12 months of bills. If your home has a well, they will confirm the well's status, depth, and output from the most recent well report.
• If you have a security system, your REALTOR® will verify the current term of service and whether it's owned or leased.
• They will also verify if you have a transferable Termite Bond and ascertain the need for a lead paint disclosure.
• To complete this series of tasks, your REALTOR® will prepare a detailed list of property amenities and assess the market impact. They will also prepare a detailed list of the property's "Inclusions and Conveyances with Sale" and compile a list of repairs and maintenance items.

If Your Property Includes A Rental Component

If your home has a rental component, your REALTOR® will complete this next series of tasks to prepare the information a buyer will need to assess the rental potential of your property. If there is no rental component, they may not need to take all of these steps. These tasks include:

• Your REALTOR® will send you a "Vacancy Checklist" if the property is vacant and will also explain the sales benefits of including a Home Owner Warranty in the sale.
• They will assist you with the completion and submission of the Home Owner Warranty Application.
• When the Warranty is received, they will place it into the property file for conveyance to the new owner at the time of sale.
• Your REALTOR® will verify if the property has rental units involved and if so, make copies of all leases for retention in the listing file.
• They will also verify all rents and deposits.
• A member of your real estate team will inform the tenants of the listing and discuss how showings will be handled.

The Final Steps Before Listing on the MLS

At this point, your REALTOR will take the final steps necessary for selling your home, including the preparation and staging of your home before it's officially listed in the Multiple Listing Service (MLS) databases. This includes:

• Making an extra key for the lockbox
• Arrange for the installation of the yard sign.
• Assist you with the completion of the Seller's Disclosure form.
• Complete their internal "New Listing Checklist."
• Review the final results of the Curb Appeal Assessment with you and provide suggestions to improve salability.
• Review the Interior Decor Assessment results with you and suggest changes to shorten "time on market."
• Load the listing into the transaction management software program.

Up to this point,you have a signed Listing Agreement, and your REALTOR® will have taken all of the necessary steps to gather the needed information to prepare your home's MLS listing properly. They will have all of the legal information necessary in the Property File and Property Listing File, which will include verified square footages, operating costs, utility information, and any additional information needed, for example, rental and lease data.

In the next selling your home blog post, we'll look at the next steps in the process of marketing and selling your home, which includes entering the property in the MLS Database and creating a marketing strategy for your property to build interest, drive traffic, and generate offers for your home.