What does a Realtor do?
8 Things a Realtor does behind your back that you’ll be thrilled they do, when you’re selling a home!
Were you thinking I was referring to some sneaky, shady, dishonest things that they’re not telling you? Oh no, the things they do behind your back is what gets you to close on the home you’re selling, while keeping you from the worry and stress that often go hand and hand. They just get it done.
Do you need to watch your back. Actually, if you carefully selected your Realtor, you won’t need to worry as the Realtor has got your back. Relief just filled you from your head to toes.
What does a Realtor do behind the scenes and behind your back?
Where do I begin?!
If a Realtor is a master at their craft, today’s discussion is all about just that, what they do and what you should expect from them.
Oh, the behind the scenes planning.
Checking off what needs to get done on the checklist; checking it twice.
It’s like the well-oiled machine that operates without problems.
How your home selling process seems to flow effortlessly towards closing is all about the Realtor’s proper planning; knowing what needs to get done and when. Having done this hundreds of times before, will enable the Realtor to move your home sale through the various home selling stages, while keeping your involvement to a minimum, knowing what you expect and want from the sale of your home. Yet, at the same time, when you do want to know what’s going on, you’ll find that your Realtor is on the top of her/his game and can happily fill you in.
“Planning is bringing the future into the present so that you can do something about it now” – Alan Lakein
Planning involves analyzing the local Real Estate market to set the right list price. Planning involves making your home presentable. Planning involves a marketing plan to reach prospective Buyers. Planning involves setting up a showing system to schedule Buyer visits to your home. Planning involves being made available to communicate effectively and timely with Buyer’s and their Realtor inquiries via phone, email and text. Planning involves scheduling and attending the Buyer’s home inspections. Planning involves scheduling Buyer’s Lender’s appraisal and providing market data of nearby home sales to support purchase price to aid Appraiser. Planning involves knowing what the next 7 things inherent to a home sale are and how to not let them get the sale trapped up and cloudy … it’s all about maintaining clarity of the job at hand; selling a home.
Scrutinize Buyer’s ability to buy your home
Thoroughly inspecting the Buyer’s offer on your home, includes carefully scrutinizing the Buyer’s financing ability. Demanding a pre approval letter that suggests the Buyer is most qualified to buy your home from the get go; not just a flimsy letter that has no meat on the bones, but rather a strong indication of the Buyer’s credit and financial worthiness.
Your Realtor will have picked up the phone to speak with the Buyer’s loan officer to confirm what has been reviewed and what makes them well qualified. Of course this isn’t a guarantee, but knowing the likelihood of full loan approval is great, will make this behind the scene activity welcome news a week or two before the scheduled closing date.
Nothing is worse than having to go through the home selling process of an inspection, the appraisal and then get a week prior to closing, only to discover the Buyer’s inability to secure a home loan. Ouch. You then wonder what could have been if you had chosen the other Buyer’s offer that was just $2000 less!
Ensure accuracy of Real Estate Purchase Contract submitted
Upon receipt of any Buyer’s offer, you can be sure that your Realtor has gotten out the magnifying glass, scouring through the Real Estate contract to ensure that everything is correct; that the numbers add up correctly, that the terms of contract dates are not in conflict with one another, that you’re not obligated to pay what is typically picked up as a Buyer’s expense, if the Buyer is other than an individual did they submit the appropriate legal documents that authorizes them to sign a Real Estate purchase contract on the Trust and/or company’s behalf and that they completed, signed and initialed all required locations on the contract.
It’s so easy to botch these things if you don’t know what to look for in a home sale. If you don’t get it right at the onset, later clarification will likely be too late and costly mistakes can soon follow.
This is one important thing you’ll be grateful that your Realtor does behind your back, believe me!
Looks out for Your Best Interest (and not theirs)
When the Buyer and/or Buyer’s Agents throws outs ideas or recommendations regarding possible solutions, your Realtor is thinking of how it will affect YOU and not how it’s going to line their pocket or not.
A little more difficult to determine, sure.
However, there are ways in which to reveal if this will go on behind your back.
To start, I’d suggest you get a feel for their integrity before you even hire them by discovering more about them online. Read their customer reviews and Real Estate articles and posts they share on their Real Estate website and across Social Media. They do have their own site and regularly write helpful Real Estate articles, don’t they?
Keep’s on their Toes, well aware of Inspection Timelines
They’ve got your back when they know when the inspection time period ends according to the Real Estate contract and when the Buyer must complete and advise you of their intentions regarding any inspections issues.
Your Realtor will not be on top of the Buyer’s Realtor until AFTER the inspection period has passed. Why not until after you wonder? It’s up to the Buyer and their Realtor to inform you of the inspection and of any potential concerns that they may have. If there are issues that concern them as a Buyer, and they don’t let you know prior to the home inspection period ending, then the contract will not let them cancel the contract due to any of inspection findings as the inspection time period has lapsed. They snooze, they lose, which ultimately will benefit you as the home Seller.
It’s not up to your Realtor to do the job of the Buyer’s Realtor, unless it would become detrimental to you as the one selling your home.
Ensures Buyers Financing Commitment is met
You recall where I discussed a Buyer’s ability to finance a home earlier in the article, right? Here is about where the Buyer’s Lender’s diligence and underwriting come together to provide the required “ written loan commitment”. According to the Real Estate contract, there is a date in which the Buyer’s Lender must provide a written loan commitment to the Seller and they must keep the Seller advised of the loan progress prior to commitment issuance. Failing to meet the date and advise of the progress can result in the Buyer’s default, should their loan be denied, ultimately risking their escrow deposit. The commitment date typically averages from 15-30 days from the day the Real Estate contract was executed by both parties.
Your Realtor will have your back here in knowing that magical date; a critical contract date. Your Realtor will be aware of the calendar and won’t be begging for constant updates, as it’s the Buyer’s responsibility to advise of progress and of any changes; for example, if the Buyer should change Lenders mid stream they had better let your Realtor know or if there are any delays for whatever reason.
This can be an area where it’s importance is overlooked by the Buyer side, which can result in you as a Seller being compensated for default. You want your Realtor to be watching this behind your back. The stories I could tell about this exact scenario playing out.
Establishes Assurance of Getting to Closing
Getting to the closing table is the goal of all parties. There are a lot of parts that need to be put together to have a successful closing. So many of which have already been mentioned above. Know that your Realtor will be diligently working behind your back to make sure all the pieces to the puzzle are falling nicely into place and all parties to the transaction are doing what is required of them.
I’ve spoken a lot about the Buyer, their Realtor and what is needed from them, but what about the Title/Settlement Agent? Have they done their part in securing a Title Commitment, which evidences a clear title to the property that has been provided to the Buyer’s Lender? Have they ordered municipal and lien searches? This reflects if there are any outstanding bills/liens/open permits, etc. If there is a homeowner’s association have they ordered and received the Estoppel letter? An estoppel letter details whether your account with the association is current or if any payments/assessments are due.
When you get all these pieces lined up properly and your Realtor has assured their alignment, you’re on your way to closing.
Keeps Stress Away from You, as the Home Seller
Everything that has been discussed here can come with a truckload of stress.
Your Realtor knows that keeping stress away from you is ideal. A Realtor who does all this behind your back, while saving you from a few more gray hairs, is likely a Realtor you’ll tout as one of the best, top Realtors around. Experience it like a day relaxing at the beach.
Half the battle of a successful home sale is having a Realtor who has got your back. You want a Realtor who knows how to take charge. You need to have the confidence that they’re highly capable, knowing you don’t have to watch over every detail. They just gotta get it done!
Your Real Estate experience should be with limited issues, easily processed. Sure problems may occur, yet as it has been said before and as your Realtor should embrace, “Problems are just opportunities in work clothes” – Henry J. Kaiser.
Never worry about the things a Realtor does behind your back – it’s a good thing.
— Lynn Pineda (@LynnPineda) September 15, 2016
More Home Selling Resources included below that you’ll find helpful, I’m sure:
“10 Best Secrets to Selling a Home” – by HGTV
“Selling an Undesirable Home” by Teresa Cowart
“How to Make your House Shine like a Diamond” by Ferris Property Group
“This Feature Instantly Makes your Home Worth More Money” by Time/Money
“How to Find a Real Estate Agent” by Elizabeth Weintraub at The Balance
Today’s Real Estate article “8 Things a Realtor Does Behind Your Back?” was written by Lynn Pineda. You’ll find Lynn selling homes in Southeast Florida in the cities of Boca Raton, Boynton Beach, Coral Springs, Delray Beach, Coconut Creek, Deerfield Beach, Margate, Parkland, Pompano Beach, Tamarac, Sunrise, Plantation and Ft Lauderdale areas within Broward and Palm Beach counties.
Lynn Pineda, a licensed Southeast Florida Real Estate Agent serving Southeast Florida for over 11 years. Keller Williams Coral Springs Realty. Real Estate Promises Delivered. You can speak with Lynn by calling/texting her at 954-464-1100 or you can email her at: LynnP@ImagineYourHouse.com if you need to buy or sell a Southeast Florida home. Your local, trusted professional when it’s time to buy or sell a home. Real Estate promises delivered. Sept 15, 2016.