For New Listings

Cycle 1: The Interview to win the listing

As an agent, filling in the paperwork is easy. Persuading the seller to hire you in a competitive interview environment is a challenge. Not winning one listing is ok, not winning 3-5 in over a period of a few months and it can be career-ending. (Skill – handling crucial conversations)

Cycle 2: Processing the legal paperwork

It is our responsibility to know every line of every document. The listing agreement and the disclosures. As an agent we must also be strong in the area of creative writing and at some firms, we must the admin skills to enter the property into the MLS.

In addition, we must ensure the seller has completed all disclosures and that they are put online in a timely basis.

Cycle 3: Servicing the seller throughout the weeks 

Possibly one of the most challenging aspects of the Realtor job is serving the home seller while their property is on the market. Sellers often say, “You know….we are in no hurry….we are not going to give it away….we don’t have to sell”, and other statements that reveal their lack of objectivity and low motivation.

While the seller has high expectations of most agents, they are not prepared for the level of confrontation that is about to occur with many new listings. (Skill – handling crucial conversations)

Cycle 4: Negotiating the sale contract

Seller servicing can last days or even months, however, contract negotiations can occur in just a few short hours. Agents must know what every line of every document means. Or at a minimum has fast access to someone that can answer the question.

Cycle 5: The Paperwork now that we are under contract

Truly, we cannot miss one thing. This cycle is about the distribution of the documents to all key parties. And getting inspections coordinated for the other agent, possibly the seller, and informing the seller about many of the next steps.

Cycle 6: 

This is where deals go to die. Emotions are about to elevate for both buyer and seller. And possibly for the agents. Once the inspection is over, buyers are often disillusioned/disappointed in the knowledge of what is wrong with the property. The bubble may have burst for the buyer enthusiasm. The seller is in denial that the inspector is wrong and the buyer is unreasonable. (Skill – handling crucial conversations)

This is the hardest part of all of real estate. Getting the parties to be objective takes a lot of life skills. Role playing is often not on any companies training list, yet it is the greatest need. 

Cycle 7: Coordinating Inspection Repairs

This is a time to coordinate all repairs, bids, and retrieving paid receipts and lien waivers and providing them to all necessary parties.

Cycle 8: Unexpected Crisis

Truly this is a cycle that we hope never happens. Cycle 8 is about unexpected problems. Title issues. Survey. Homes that did not appraise. Lenders that did not issue loan commitment. These “fires” occur late in the transaction.    (Skill – handling crucial conversations)

• Title/Survey

• Appraisal

• Lender Extension

• Contingencies

Cycle 9: Final Countdown 

Good news – the transaction is about wrapped up. It is time to coordinate the closing and review the closing statement and ensure your file is compliant with the state auditors. Hopefully, the final walk through goes smoothly, or there is a fresh battle in store. 

• Walk-through: Verified

• Closing Statement: Verified

• Closing Times: Verified