Did you know that your career as a Realtor can potentially be hassle free?
Selling a house has a lot of tedious aspects to it, but there are things which you can delegate as Real Estate Virtual Assistant tasks and can generally offer you the advantages which help you focus on the tasks which are central to your sale. However if you find these too tedious, this is where you can delegate specific tasks to your aide. You need to be able to properly delegate these tasks so none of these are going to feel too cumbersome.
And you yourself are the person who closes the deal and you need as much of these menial tasks out of your plate as possible. Highlighted in YELLOW are some of the tasks WE CAN DO. In PINK are Tasks which you need to do yourself but only in the interest of coming up with a great deal.
Essentially then your VA can serve as your sales liaison and help you increase the chances of closing the deal and satisfying some customers. In effect, they can function as your Marketing Coordinator to help you improve your visibility and credibility in the eyes of potential customers.
This list is drawn from a 184 tasks as presented by Pat Vredevoogd-Combs are crucial to the creating superb real estate listing.
- Make appointment with seller for listing presentation.
- Send a written or e-mail confirmation of appointment and call to confirm.
- Review appointment questions.
- Research all comparable currently listed properties.
- Find sales activity for past 18 months from MLS and public databases.
- Research “average days on market” for properties similar in type, price and location.
- Download and review property tax roll information.
- Prepare “comparable market analysis” (CMA) to establish market value.
Verifying the documentations is absolutely crucial and a skillful member of our staff can help you with these facets
- Obtain copy of subdivision plat/complex layout.
- Research property’s ownership and deed type.
- Research property’s public record information thus obtaining lot size and dimensions.
- Verify legal description.
- Research property’s land use coding and deed restrictions.
- Research property’s current use and zoning.
- Verify legal names of owner(s) in the county’s public property records.
- Prepare listing presentation package with the necessary materials.
- Perform exterior “curb appeal assessment” of subject property.
- Compile and assemble formal file on property.
- Confirm current public schools and explain their impact on market value.
- Review listing appointment checklist to ensure completion of all tasks.
The general public is generally not aware of all the services that agents provide to sellers and buyers during the course of the transaction, probably because most of the important services are performed behind the scenes.
Of course, before closing any sale it is vital for a realtor to actually be familiar with the market trends in any given place. You can very well hire a real estate VA to research the profiles and credentials of people you are selling to. It is important to test the waters before you begin your marketing campaign, here are some of the few strategies to begin with.
Your work as a specialist then becomes more focused and as a result, is fantastic because they can also conduct primary assessments while offering you the chance to judge which offers are the best to proceed with in speaking to your client.
- Give seller an overview of current market conditions and projections.
- Review agent and company credentials and accomplishments.
- Present company’s profile and position or “niche” in the marketplace.
- Present CMA results such as comparables, solds, current listings and expiries
- Offer professional pricing strategy based and thereby create interpretation of current market conditions.
Really resourceful VA’s are fantastic in suggesting marketing campaigns and are even hands on with social media strategies.
- Discuss goals to market effectively. Explain market power and benefits of multiple listing service.
- Explain market power of Web marketing, IDX, and REALTOR.com.
- Describe the work the broker and agent do “behind the scenes” and agent’s availability on weekends.
- Describe agent’s role in screening qualified buyers to protect against curiosity seekers.
- Present and discuss strategic master marketing plan.
- Explain different agency relationships and determine seller’s preference. Review all clauses in listing contract and obtain seller’s signature.
Things to Do After the Listing Agreement is Signed.
After you have agreed to a listing, then you need to verify the authenticity of the property. This ensures your clients that they are going to get the best home possible. This provides them a superb premises that not only is safe, but something that fits their preferences and adheres to the qualifications which help them sell a superb property.
- Review current title information.
- Measure overall and heated square footage.
- Measure interior room sizes.
- Confirm lot size via owner’s copy of certified survey, if available.
- Note any and all unrecorded property lines, agreements, easements.
- Obtain house plans, if applicable and available.
- Review house plans, for instance make copies.
- Order plat map for retention in property’s listing file.
- Prepare showing instructions for buyers’ agents and agree on showing time with seller.
- Obtain current mortgage loan(s) information: companies and account numbers.
- Verify current loan information with lender(s). Check assumable loan(s) and any special requirements.
Researching the Particulars is Important to Validate your Listing and its Authenticity
- Discuss possible buyer financing alternatives and options with seller.
- Review current appraisal if available. Identify Homeowner Association manager is applicable.
- Verify Homeowner Association fees with manager–mandatory or optional and current annual fee.
- Order copy of Homeowner Association bylaws, if applicable.
- Research electricity availability and supplier’s name and phone number.
By this token, it becomes important to also check on the aspects which have to do with utilities. Sometimes you may need to hire a home inspector to see if the premises is viable or not. Any such services can be looked up with your assistant and she can then add that to your list of to-do’s in your calendar.
- Calculate average utility usage from last 12 months of bills. Research and verify city sewer/septic tank system.
- Calculate average water system fees or rates from last 12 months of bills.
- Or confirm well status, depth and output from Well Report. Research/verify natural gas availability, supplier’s name and phone number.
- Verify security system meaning the terms of service and whether owned or leased.
- Verify if seller has transferable Termite Bond. Ascertain need for lead-based paint disclosure.
Through additional assessments and appraisals, you ensure that you possess all the necessary variables to close the deal
- Prepare detailed list of property amenities and assess market impact.
- Prepare detailed list of property’s “Inclusions & Conveyances with Sale.”
- Complete list of completed repairs and maintenance items. Send “Vacancy Checklist” to seller if property is vacant.
- Explain benefits of Homeowner Warranty to seller.
- Assist sellers with completion and submission of Homeowner Warranty application.
It is important that since your aide is going to free up some of your time, you use that to complete these tasks which have to do with obtaining the necessary paperwork and explaining the particulars to your client. In a word, your marketing coordinator can carry the bulk of menial tasks because it is your obligation to be there up, close and personal with your client.
- When received, place Homeowner Warranty in property file for conveyance at time of sale.
- Have extra key made for lockbox. Verify if property has rental units involved. And if so: Make copies of all leases for retention in listing file.
- Verify all rents and deposits. Inform tenants of listing and discuss how showings will be handled.
- Arrange for yard sign installation.
- Assist seller with completion of Seller’s Disclosure form. Complete “new listing checklist.”
- Review results of Curb Appeal Assessment with seller and suggest improvements for sellability.
- Review results of Interior Decor Assessment and suggest changes to shorten time on market. Load listing time into transaction management software.
Entering the Property in an MLS Database
You can delegate administrative and data related tasks to your VA
You need to make the property visible and viable. And a way to do this is to enter them in Multiple Listing Services or MLS databases are among the most efficient real estate virtual assistant tasks. This ensures that clients can reach you and it serves to let others know that this house is up for grabs. Of course you may need to procure photographs of the property if none already exist online. But a good coordinator is generally able to assist you with these specific tasks.
- Prepare MLS Profile Sheet–agent is responsible for “quality control” and accuracy of listing data.
- Enter property data from Profile Sheet into MLS listing database.
- Proofread MLS database listing for accuracy, including property placement in mapping function.
- Add property to company’s Active Listings.
- Provide seller with signed copies of Listing Agreement and MLS Profile Data Form within 48 hours.
- Take more photos for upload into MLS and use in flyers.
- Discuss efficacy of panoramic photography.
Of course you need to do a bit – or a LOT of advertising. Marketing is a crucial aspect which needs your oversight. So it makes sense to implement these in a proper fashion if you are to succeed in closing a sale of a home. It’s a matter of keeping things visible so that any specific property would appeal to its potential buyers. A lot of these aspects can also be delegated to your staffer and most of these things also have to do with organizational skills and content creation. A superb V.A. possesses all these qualities. But while the menial work is relegated to real estate virtual assistants, you need to perform some of the reviews and ensure there is some oversight going on.
We at iSuporta manage our VA’s to ensure their productivity and their ability to meet your bottom line.
- Create print and Internet ads with seller’s input.
- Coordinate showings with owners, tenants and other agents.
- Return all calls–weekends included. Install electronic lockbox.
- Program with agreed-upon showing time windows.
- Prepare mailing and contact list. Generate mail-merge letters to contact list.
- Order “Just Listed” labels and reports.
- Prepare flyers and feedback forms.
We can provide you the most detail oriented staff
A meticulous V.A. is able to come up with the right listing sites and help you input your data and do additional research so this helps you with your marketing strategies.
- Review comparable MLS listings regularly to ensure property remains competitive in price, terms, conditions and availability.
- Prepare property marketing brochure for seller’s review.
- Arrange for printing or copying of supply of marketing brochures or flyers.
- Place marketing brochures in all company agent mailboxes.
- Upload listing to company and agent Internet sites, if applicable. Mail “Just Listed” notice to all neighborhood residents.
- Advise Network Referral Program of listing.
- Provide marketing data to buyers from international relocation networks.
You need to be sure the data which your assistant derives from the Internet is accurate. The hard part is theirs, it is your duty then to look at how viable this information is implementable.
- Provide marketing data to buyers coming from referral network. “Special Feature” cards from marketing, if applicable.
- Submit ads to company’s participating Internet real estate sites.
- Convey price changes promptly to all Internet groups.
- Reprint/supply brochures promptly as needed.
- Review and update loan information in MLS as required.
- Send feedback e-mails/faxes to buyers’ agents after showings.
- Review weekly Market Study.
- Discuss feedback from showing agents with seller to determine if changes will accelerate the sale.
- Place regular weekly update calls to seller to discuss marketing and pricing.
- Promptly enter price changes in MLS listings database.
Working on the Offer and the Contract
This step is immensely valuable and you often need to oversee these yourself. The more menial aspects such as forwarding some documents can be delegated to your VA. Whatever the case, you still need to review these in order to ensure that the contract is in top shape and the customers are aware about the transactions you are about to place.
There are some things you need to do yourself such as explain the possible advantages and disadvantages which go into certain components here. Of course your VA can assist you in reviewing and going over these facets and it is up to yo to discern the way in which you are going to present these to your clients.
- Receive and review all Offer to Purchase contracts submitted by buyers or buyers’ agents.
- Evaluate offer(s) and prepare “net sheet” on each for owner to compare.
- Counsel seller on offers.
After you have assigned your coordinator the more administrative virtual assistant tasks, you can focus on speaking directly with your customers.
- Explain merits and weakness of each component of each offer.
- Contact buyers’ agents to review buyer’s qualifications and discuss offer.
- Fax/deliver Seller’s Disclosure to buyer’s agent or buyer upon request and prior to offer if possible.
- Confirm buyer is pre-qualified by calling loan officer.
Some tasks are easier if your assistant can create a calendar and systematized tasks for you to perform
- Obtain pre-qualification letter on buyer from loan officer.
- Negotiate all offers on seller’s behalf, setting time limit for loan approval and closing date.
- Prepare and convey any counteroffers, acceptance or amendments to buyer’s agent.
- Fax copies of contract and all addendums to closing attorney or title company.
- When Offer-to-Purchase contract is accepted and signed by seller, deliver to buyer’s agent.
- Record and promptly deposit buyer’s money into escrow account.
- Disseminate “Under-Contract Showing Restrictions” as seller requests.
- Deliver copies of fully signed Offer to Purchase contract to sellers.
- Fax/deliver copies of Offer to Purchase contract to selling agent.
In the interest of performing these real estate virtual assistant tasks, you provide the chores which generally are tied towards organizing listings, phone numbers emails and pricing information. If you see something that catches your eye you can take advantage of those properly so you can narrow down which potential leads might result in a sale.
- Fax copies of Offer to Purchase contract to lender.
- Provide copies of signed Offer to Purchase contract for office file.
- Advise seller in handling additional offers to purchase submitted between contract and closing.
- Change MLS status to “Sale Pending.”
- Update transaction management program to show “Sale Pending.”
- Review buyer’s credit report results–Advise seller of worst and best case scenarios.
- Provide credit report information to seller if property is to be seller financed.
- Assist buyer with obtaining financing and follow up as necessary.
- Order septic inspection, if applicable. Receive and review septic system report and access any impact on sale.
- Deliver copy of septic system inspection report to lender and buyer.
- Deliver well flow test report copies to lender, buyer and listing file.
- Verify termite inspection ordered. Verify mold inspection ordered, if required.
Tracking the Loan Process
- Confirm return of verifications of deposit and buyer’s employment.
- Follow loan processing through to the underwriter.
- Add lender and other vendors to transaction management program so agents, buyer and seller can track progress of sale.
- Contact lender weekly to ensure processing is on track. Relay final approval of buyer’s loan application to seller.
- Coordinate buyer’s professional home inspection with seller.
- Review home inspector’s report.
- Enter completion into transaction management tracking software program.
- Explain seller’s responsibilities of loan limits and interpret any clauses in the contract.
- Ensure seller’s compliance with home inspection clause requirements.
- Assist seller with identifying and negotiating with trustworthy contractors for required repairs.
- Negotiate payment and oversee completion of all required repairs on seller’s behalf, if needed.
- Schedule appraisal.
- Provide comparable sales used in market pricing to appraiser.
- Follow up on appraisal.
- Enter completion into transaction management program.
- Assist seller in questioning appraisal report if it seems too low.
Closing Preparations and Duties
The most important aspect is the closing of the deal. Hence, this requires yo to ensure that every single facet of paperwork, documentation and formalities are met.
In order for you to transact properly, these all require a meticulous compilation and organization of documents. These are merely examples of some of the tasks you can delegate to your real estate virtual assistant. You need to oversee the most juicy aspects and your staffer can attend to more administrative tasks such as doing research, requesting certain documents and forwarding some details such as the closing figures.
If all these are a success of course you have successfully sold a home while keeping the focus on the tightest most crucial aspects while leaving all the menial components to your hired associate.
- Make sure contract is signed by all parties. Coordinate closing process with buyer’s agent and lender.
- Update closing forms and files.
- Ensure all parties have all forms and information needed to close the sale.
- Select location for closing. Confirm closing date and time and notify all parties.
- Solve any title problems (boundary disputes, easements, etc.) or in obtaining death certificates.
- Work with buyer’s agent in scheduling and conducting buyer’s final walkthrough prior to closing.
- Research all tax, HOA, utility and other applicable prorations.
Be sure to oversee all of the closing figures and facets which have to do with authenticity and legitimacy
- Request final closing figures from closing agent (attorney or title company).
- Receive and carefully review closing figures to ensure accuracy.
- Forward verified closing figures to buyer’s agent.
While your VA can work on requesting and procuring online copies of certain forms, you can oversee that all parties concerned have signed these respective documents so that everything is working in perfect order. Therefore, this is important then to be able to start honing in on what specific obligations you can perform yourself and compare those which you need to assign to your attendant.
- Request copy of closing documents from closing agent.
- Confirm the buyer and buyer’s agent received title insurance commitment.
- Provide “Home Owners Warranty” for availability at closing.
- Review all closing documents carefully for errors.
- Forward closing documents to absentee seller as requested
Your VA functioning as a Transaction Coordinator can provide you a to-do list so this makes your tasks more efficient. In short, easily helps you accomplish these tasks so your client is able to obtain all these goods and your transaction is going to have as much transparency as possible.
- Review documents with closing agent (attorney).
- Provide earnest money deposit from escrow account to closing agent.
- Coordinate closing with seller’s next purchase, resolving timing issues.
- Have a “no surprises” closing so that seller receives a net proceeds check at closing.
- Refer sellers to one of the best agents at their destination, if applicable. Change MLS status to Sold.
- Enter sale date, price, selling broker and agent’s ID numbers, etc. Close out listing in transaction management program.
Essentially you and your VA are Real Estate specialists, you can coordinate the different functions you perform in order to ensure maximum results in achieving some sales.
Performing follow-ups after Closing
After you close the sale, it is important for you to be there to discus any issues if there are variables including the Homeowner warranty and any clarifications your customer might have. Again, the people whom you need to contact and when can be arranged by your assistant as he or she could definitely be equipped to ensure that you ensure a proper transaction.
- Answer questions about filing claims with Homeowner Warranty company, if requested.
- Attempt to clarify and resolve any repair conflicts if buyer is dissatisfied..
- Respond to any follow-up calls and provide any additional information required from office files.
It is immensely valuable to learn how to do some things on your own while at the same time allowing us to provide you with the real estate virtual assistant tasks which makes your job a whole lot easier. Closing a deal is only achievable after you have streamlined your workflow and everything has been done according to the specifications any specific sale requires.
If you feel ready to start your career in real estate, then why not Check our List of Services and Drop as a Line to see how we can best help you to start your career and start acing your sales.