A lot more than you think…

January 9, 2008

I’ve heard before "Consumers don’t know what REALTORS do".  That’s probably true – how could a member of the general public, or even an involved seller,  ever really know what it takes to get a home to a successful close?  So much is behind the scenes and rarely is a transaction a simple one.  If you could be a fly on the wall of the technical side of your home sale, or sit in at the required continuing education REALTORS in Wisconsin must complete every 2 years you’d be amazed at the legalities, disclosures, addendums, policies, and deadlines that an agent better have down pat – or else.    

The entire list of tasks a REALTOR needs to complete would bore you. One list I know of has 167 items on it. Granted not all 167 things need to be done in every home sale, but anything is possible.  But just as an FYI, to prepare for a listing presentation for a home seller, an agent may complete almost 10 steps prior to that first meeting, some of which may include:

1. Research all comparable currently listed properties

2. Research sales activity for past 6-12 months from MLS 

3. Research "Days on Market" for this propetry type, price range and location.

4. Review property tax roll information

5. Prepare Comparable Market Analysis (CMA) to establish fair market value

6. Research public records for lot size & dimensions

7. Verify legal description of property

8. Research property’s land use/zoning

9. Prepare to make the best presentation they possibly can, pulling from past eperience and local knowledge.

…All done before they are even hired. 

More on the "what REALTORS do" topic bit by bit. 

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