03/23/2024
Real 🏡 Estate was always a professional career for me, and I have been practicing it full-time for 44 years and I LOVE what I do! It is a sacrifice- family time, vacations, working holidays, weekends, and well into the night… basically 24/7. As a Broker we support our agents, teach them, fill in at closings, arrange showings, support open houses as needed, pay all costs overhead, pay company fees to belong to each MLS/board for our agents, run our company and be sure we are all compliant and conduct ourselves with the highest of ethics, and hire new and sage agents, not to mention keeping our company in state compliance.
The reward is helping people achieve the American Dream of home ownership!
There are a lot of intricacies involved in selling and buying a home. For most, their home is their largest asset. The professional guidance of someone who has abundant knowledge in the market climate, who is experienced, and has their best interest at heart is truly invaluable.
Here is what we bring to the table:
The "average" full-time REALTOR’s earnings last year were $31,900 @ 40+ hours a week. (Notice I wrote full-time 40+ hours, not part-time, 0-20 hours a week.) This is well below the living wage. As a REALTOR, we do not get paid an hourly wage or salary, and we only get paid if the home successfully closes. As an agent, you could work with someone for days, weeks, months, or years with no guarantee of a sale ever.
There is much to read, and you may just obtain a snapshot of what we, as REALTORS, do day and night, 365 days a year.
There are a lot of upfront expenses that must be paid out before a REALTOR gets compensated:
Broker Splits and Fees
Office rent and utilities
MLS Fees
NAR Fee
FAR Fee
Local Board Fee
Local Association Fees
E&O Business Insurance
Extended Auto Insurance
Self-Employment Tax
State Licensing Fees
Advertising Fees
Showing Service Fees
Website Fees
Assistant's Salaries
Showing partners
Transaction Coordinator
Yard Signs
Photographers
Videographers
Office Supplies
Business Cards
Property Flyers
Electronic Lockboxes
Continued RE Education
Legal Fees
Gas
Income taxes are not taken out, so they have to put that aside around 25-30%.
Don’t forget health insurance if you don’t have a spouse who provides it.
As a listing agent, they have many tasks beyond just selling a home.
1. Prepare Listing Presentation for Sellers
2. Research Sellers Property Tax Info
3. Research Comparable Sold Properties for Sellers
4. Determine Average Days on the Market
5. Gather Info From Sellers About Their Home
6. Meet With Sellers at Their Home
7. Get To Know Their Home
8. Present Listing Presentation
9. Advise on Repairs and/or Upgrades
10. Provide Home Seller To-Do Checklist
11. Explain Current Market Conditions
12. Discuss Seller’s Goals
13. Share Your Value Proposition
14. Explain the Benefits of Your Brokerage
15. Present Your Marketing Options
16. Explain Video Marketing Strategies
17. Demonstrate 3D Tour Marketing
18. Explain Buyer & Seller Agency Relationships
19. Describe the Buyer Pre-Screening Process
20. Create an Internal File for Transaction
21. Get the Listing Agreement & Disclosures Signed
22. Provide Sellers Disclosure Form to Sellers
23. Verify Interior Room Sizes
24. Obtain Current Mortgage Loan Info
25. Confirm Lot Size from County Tax Records
26. Investigate Any Unrecorded Property Easements
27. Establish Showing Instructions for Buyers
28. Agree on Showing Times with Sellers
29. Discuss Different Types of Buyer Financing
30. Explain the Appraisal Process and Pitfalls
31. Verify Home Owners Association Fees
32. Obtain a Copy of HOA Bylaws
33. Gather Transferable Warranties
34. Determine Need for Lead-Based Paint Disclosure
35. Verify Security System Ownership
36. Discuss Video Recording Devices & Showings
37. Determine Property Inclusions & Exclusions
38. Agree on Repairs to Made Before Listing
39. Schedule Staging Consultation
40. Schedule House Cleaners
41. Install Electronic Lockbox & Yard Sign
42. Set Up and pay for Photo/Video Shoot
43. Meet the Photographer at the Property
44. Prepare a Home For the Photographer
45. Schedule Drone & 3D Tour Shoot
46. Get Seller’s Approval of All Marketing Materials
47. Input Property Listing Into The MLS
48. Create a Virtual Tour Page
49. Verify Listing Data on 3rd Party Websites
50. Have Listing Proofread
51. Create Property Flyer
52. Have Extra Keys Made for the Lockbox
53. Set-Up Showing Services
54. Help Owners Coordinate Showings
55. Gather Feedback After Each Showing
56. Keep track of Showing Activity
57. Update MLS Listing as Needed
58. Schedule Weekly Update Calls with Seller
59. Prepare “Net Sheet” For All Offers
60. Present All Offers to Seller
61. Obtain a Pre-Approval Letter from the Buyer’s Agent
62. Examine & Verify Buyer’s Qualifications
63. Examine & Verify Buyer’s Lender
64. Negotiate All Offers
65. Once Under Contract, Send to the Title Company
66. Check Buyer’s Agent Has Received Copies
67. Change Property Status in MLS
68. Deliver Copies of the Contact/Addendum to the Seller
69. Keep Track of Copies for Office File
70. Coordinate Inspections with Sellers
71. Explain the Buyer’s Inspection Objections to Seller
72. Determine Seller’s Inspection Resolution
73. Get All Repair Agreements in Writing
74. Refer Trustworthy Contractors to Sellers
75. Meet the Appraiser at the Property
76. Negotiate Any Unsatisfactory Appraisals
77. Confirm Clear-to-Close
78. Coordinate Closing Times & Location
79. Verify Title Company Has All Docs
80. Remind Sellers to Transfer Utilities
81. Make Sure All Parties Are Notified of Closing Time
82. Resolve Any Title Issues Before Closing
83. Receive and Carefully Review Closing Docs
84. Review Closing Figures With Seller
85. Confirm Repairs Have Been Made
86. Resolve Any Last Minute Issues
87. Attend Seller’s Closing
88. Pick Up Sign & Lock Box
89. Change Status in MLS to “Sold.”
90. Close Out the Seller’s File With the Brokerage
As buyers' agents, they also have many tasks.

1. Schedule Time To Meet Buyers
2. Prepare Buyers Guide & Presentation
3. Meet Buyers and Discuss Their Goals
4. Explain Buyer & Seller Agency Relationships
5. Discuss Different Types of Financing Options
6. Help Buyers Find a Mortgage Lender
7. Obtain a Pre-Approval Letter from Their Lender
8. Explain What You Do For Buyers As A Realtor
9. Provide an Overview of Current Market Conditions
10. Explain Your Company’s Value to Buyers
11. Discuss Earnest Money Deposits
12. Explain Home Inspection Process
13. Educate Buyers About Local Neighborhoods
14. Discuss Foreclosures & Short Sales
15. Gather the Needs & Wants Of Their Next Home
16. Explain School Districts Effect on Home Values
17. Explain Recording Devices During Showings
18. Learn All Buyer Goals & Make A Plan
19. Create Internal File for Buyers Records
20. Send Buyers Homes Within Their Criteria
21. Start Showing Buyers Home That They Request
22. Schedule & Organize All Showings
23. Gather Showing Instructions for Each Listing
24. Send Showing Schedule to Buyers
25. Show Up Early and Prepare First Showing
26. Look For Possible Repair Issues While Showing
27. Gather Buyer Feedback After Each Showing
28. Update Buyers When New Homes Hit the Market
29. Share Knowledge & Insight About Homes
30. Guide Buyers Through Their Emotional Journey
31. Listen & Learn From Buyers At Each Showing
32. Keep Records of All Showings
33. Update Listing Agents with Buyer’s Feedback
34. Discuss Home Owner’s Associations
35. Estimate Expected Utility Usage Costs
36. Confirm Water Source and Status
37. Discuss Transferable Warranties
38. Explain the Property Appraisal Process
39. Discuss Multiple Offer Situations
40. Create Practice Offer To Help Buyers Prepare
41. Provide Updated Housing Market Data to Buyers
42. Inform Buyers of Their Showing Activity Weekly
43. Update Buyers On Any Price Drops
44. Discuss MLS Data With Buyers At Showings
45. Find the Right Home for Buyers
46. Determine Property Inclusions & Exclusions
47. Prepare Sales Contract When Buyers are Ready
48. Educate Buyers On Sales Contract Options
49. Determine Need for Lead-Based Paint Disclosure
50. Explain Home Warranty Options
51. Update Buyer’s Pre-Approval Letter
52. Discuss Loan Objection Deadlines
53. Choose a Closing Date
54. Verify Listing Data Is Correct
55. Review Comps With Buyers To Determine Value
56. Prepare & Submit the Buyer’s Offer to the Listing Agent
57. Negotiate Buyers Offer With Listing Agent
58. Execute A Sales Contract & Disclosures
59. Once Under Contract, Send to the Title Company
60. Coordinate Earnest Money Drop Off
61. Deliver Copies to Mortgage Lender
62. Obtain a Copy of the Sellers Disclosure for Buyers
63. Deliver Copies of Contract/Addendum to Buyers
64. Obtain A Copy of HOA Bylaws
65. Keep Track of Copies for Office File
66. Coordinate Inspections with Buyers
67. Meet the Inspector At The Property
68. Review Home Inspection with Buyers
69. Negotiate Inspection Objections
70. Get All Agreed Upon Repair Items in Writing
71. Verify any Existing Lease Agreements
72. Check In With the Lender To Verify the Loan Status
73. Check on the Appraisal Date
74. Negotiate Any Unsatisfactory Appraisals
75. Coordinate Closing Times & Location
76. Make Sure All Documents Are Fully Signed
77. Verify Title Company Has Everything Needed
78. Remind Buyers to Schedule Utilities
79. Make Sure All Parties Are Notified of Closing Time
80. Solve Any Title Problems Before Closing
81. Receive and Review Closing Documents
82. Review Closing Figures With Buyers
83. Confirm Repairs Have Been Made By Sellers
84. Perform Final Walk-Through with Buyers
85. Resolve Any Last Minute Issues
86. Get CDA Signed By Brokerage
87. Attend Closing with Buyers
88. Provide Home Warranty Paperwork
89. Give Keys and Accessories to Buyers
90. Close Out Buyer’s File Brokerage
Whew…exhausting, isn’t it!?! 🤯
✨You don't need to buy or sell a home to support your agent's real estate business – here are just a few simple ways to show your support! By sharing one of their listings, sending a friend or family member their way, letting them connect you with agents outside their area for a broker-to-broker referral, or leaving them a positive comment or review, this helps them feel seen and supported
If you’re a Realtor, please feel free to copy and paste and continue to share this information. I did! Just as a PSA! The more you know, the better!
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