Mastering Real Estate: 184 Essential Tasks for Real Estate Professionals

Real estate is a dynamic and multifaceted industry that demands unwavering attention to detail, impeccable organization, and a comprehensive understanding of the entire transaction process. Whether you’re a seasoned real estate professional or just starting out, mastering the art of real estate involves conquering a multitude of tasks. From the initial steps of pre-listing activities to the final stages of post-closing follow-up, every task plays a pivotal role in achieving success. In this comprehensive guide, we’ll dive deep into the top 184 tasks that real estate professionals need to navigate.

Pre-listing Activities: Setting the Stage for Success

1. 1. Appointment Setting: The journey begins with scheduling an appointment with the seller for the all-important listing presentation. Clear communication and prompt follow-ups are key.
   2. Confirmation Process: After setting the appointment, send a written or email confirmation, and take the extra step of calling to confirm. This demonstrates professionalism and ensures everyone is on the same page.
   3. Appointment Questions Review: Before the listing presentation, meticulously review the questions you plan to ask the seller. This preparation enhances your understanding of their needs and expectations.
   4. Comparable Research: Dive into the world of comparable properties currently listed on the market. This research forms the foundation for the pricing strategy you’ll propose.
   5. Sales Activity Investigation: Delve into the past 18 months of sales activity data from MLS and public databases. This historical context helps you gauge market trends and fluctuations.
   6. Market Days Analysis: Research the average days on the market for properties similar in type, price, and location. This data provides insights into the pace of sales in the area.
   7. Property Tax Roll Examination: Download and meticulously review property tax roll information. This step helps you understand tax assessments and obligations.
   8. Comparable Market Analysis (CMA) Preparation: Craft a thorough CMA using the data gathered. This analysis is the cornerstone of determining an accurate market value for the property.
   9. Subdivision Plat and Layout Obtaining: Obtain a copy of the subdivision plat or complex layout to understand the property’s layout within its community.
   10. Ownership and Deed Type Research: Research property ownership and the type of deed associated with the property. Accurate ownership information is essential.
   11. Property Public Record Analysis: Examine public record information for lot size and dimensions. This information is crucial for accurate listing details.
   12. Legal Description Verification: Confirm the legal description of the property. Precise legal information prevents potential legal complications down the road.
   13. Land Use Coding and Deed Restrictions Research: Research land use coding and deed restrictions to provide accurate information to potential buyers.
   14. Current Use and Zoning Investigation: Understand the property’s current use and zoning regulations. This knowledge is vital for buyer inquiries.
   15. Owner’s Legal Names Verification: Verify the legal names of the property owners through county public property records. Accurate owner information is essential.
   16. Listing Presentation Package Preparation: Compile all the gathered materials into a comprehensive listing presentation package that showcases your dedication and expertise.
   17. Curb Appeal Assessment: Evaluate the property’s exterior and curb appeal. Your assessment can provide valuable insights into potential improvements.
   18. Formal File Compilation: Assemble a formal file with all the collected documents and information about the property. This file ensures easy access to essential details.
   19. Public Schools Confirmation: Confirm the current public schools associated with the property. Explain their impact on market value to potential buyers.
   20. Checklist Review: Before the listing appointment, meticulously review the checklist to ensure that all pre-listing tasks are complete. This step guarantees a smooth presentation.

Listing Appointment Presentation: Creating a Lasting Impression

1. 21. Market Overview: During the listing appointment, provide the seller with a comprehensive overview of the current market conditions and projections. Informed sellers make better decisions.
   22. Credential and Accomplishment Review: Display your and your company’s credentials and accomplishments. This builds trust and establishes your expertise.
   23. Company Profile Presentation: Showcase your company’s profile and position in the marketplace. Highlight your unique strengths and market presence.
   24. CMA Results Presentation: Present the results of the Comparable Market Analysis, including comparables, sold listings, current listings, and expired listings. This data forms the basis of your pricing strategy.
   25. Pricing Strategy Discussion: Offer a professional pricing strategy based on your interpretation of the current market conditions. Your guidance is crucial for setting the right price.
   26. Marketing Goals Discussion: Discuss the seller’s goals and develop a marketing strategy that aligns with their expectations and aspirations.
   27. Multiple Listing Services (MLS) Power Explanation: Explain the power and benefits of multiple listing services. Sellers need to understand how their property will be marketed.
   28. Web Marketing Insights: Highlight the influence of web marketing, IDX integration, and platforms like REALTOR.com. Digital exposure is a crucial part of modern real estate.
   29. Behind-the-Scenes Explanation: Clarify the work that you and your broker do behind the scenes. Sellers should understand the effort invested in their property’s success.
   30. Buyer Screening Role Clarification: Explain your role in screening qualified buyers to protect against curiosity seekers. Sellers appreciate your efforts to bring in serious buyers.
   31. Strategic Master Marketing Plan Presentation: Present a well-defined master marketing plan that outlines how you’ll effectively market the property to potential buyers.
   32. Agency Relationships Discussion: Discuss different agency relationships and determine the seller’s preference for representation. Clear communication is crucial.
   33. Listing Contract Review: Review all clauses in the listing contract and obtain the seller’s signature. Ensure that the seller fully comprehends the terms and conditions.

Post-Listing Agreement Activities: Progressing with Purpose

1. 34. Title Information Review: After the listing agreement is signed, review the current title information. Address any issues or discrepancies that may arise.
   35. Property Measurement: Measure the overall and heated square footage of the property to provide accurate listing details.
   36. Interior Room Measurement: Accurately measure the dimensions of interior rooms. This information is vital for potential buyers.
   37. Lot Size Confirmation: Confirm the lot size using the owner’s copy of the certified survey, if available. Accurate lot size details enhance transparency.
   38. Property Line and Agreement Verification: Note any unrecorded property lines, agreements, and easements. Full disclosure is essential.
   39. House Plans Gathering: Obtain house plans if available and applicable. These plans can provide valuable insights to potential buyers.
   40. House Plans Review: Review the house plans and make a copy for your records. Having access to these plans can assist in marketing efforts.
   41. Plat Map Ordering: Order a plat map for retention in the property’s listing file. This map aids in providing accurate property information.
   42. Showing Instructions Preparation: Prepare detailed showing instructions for buyer’s agents and agree on showing times with the seller. Clear instructions streamline the process.
   43. Current Mortgage Loan Information Verification: Obtain and verify current mortgage loan information, including the loan companies and account numbers.
   44. Loan Information Confirmation: Verify the current loan information with the lender(s) to ensure accurate data for potential buyers.
   45. Assumable Loan Check: Check for assumable loans and any special requirements associated with them. This information is valuable for buyers considering financing options.
   46. Buyer Financing Alternatives Discussion: Discuss potential buyer financing alternatives and options with the seller. Empower the seller to consider a variety of scenarios.
   47. Appraisal Review: If available, review the property’s current appraisal. Understand how the property’s value was assessed.
   48. Homeowner Association (HOA) Manager Identification: Identify the Homeowner Association manager if applicable. This information is valuable for potential buyers.
   49. HOA Fees Verification: Verify Homeowner Association fees with the manager. Understand whether the fees are mandatory or optional.
   50. HOA Bylaws Order: Order a copy of the Homeowner Association bylaws, if applicable. Familiarize yourself with the association’s regulations.
   51. Utility Availability Research: Research electricity availability and obtain the supplier’s name and contact information.
   52. Average Utility Usage Calculation: Calculate the average utility usage based on the last 12 months of bills. This information helps buyers estimate monthly expenses.
   53. Sewer System Verification: Research and verify the city sewer or septic tank system associated with the property.
   54. Water System Fees Calculation: Calculate the average water system fees or rates based on the last 12 months of bills. Transparent information benefits potential buyers.
   55. Well Status Confirmation: Confirm the well’s status, depth, and output by referencing the Well Report.
   56. Natural Gas Availability Verification: Verify the availability of natural gas and obtain the supplier’s name and contact information.
   57. Security System Inquiry: Verify the status of the security system, including the term of service and ownership details.
   58. Termite Bond Confirmation: Confirm if the seller has a transferable Termite Bond. This information can influence buyers’ decisions.
   59. Lead-Based Paint Disclosure Consideration: Ascertain the need for lead-based paint disclosure. Compliance is crucial for transparency.
   60. Property Amenities List Preparation: Prepare a detailed list of the property’s amenities to highlight its unique features.
   61. Inclusions and Conveyances List Creation: Create a comprehensive list of property inclusions and items conveyed with the sale. Buyers should know what’s included.
   62. Repairs and Maintenance Documentation: Compile a complete list of completed repairs and maintenance items. Transparency builds buyer confidence.
   63. Vacancy Checklist Sending: If the property is vacant, send the “Vacancy Checklist” to the seller. This checklist helps prepare the property for showings.
   64. Homeowner Warranty Benefits Explanation: Explain the benefits of a Homeowner Warranty to the seller. This warranty can offer peace of mind to both parties.
   65. Homeowner Warranty Application Assistance: Assist sellers in completing and submitting the Homeowner Warranty application for added convenience.
   66. Homeowner Warranty Placement: Once received, place the Homeowner Warranty in the property file. This ensures a smooth transition at the time of sale.
   67. Lockbox Key Creation: Have an extra key made for the lockbox. This ensures easy access for authorized personnel.
   68. Rental Units Verification: If applicable, verify if the property has rental units involved. If so, make copies of all leases for your records.
   69. Rents and Deposits Verification: Verify all rents and deposits associated with rental units. Accurate records are essential.
   70. Tenant Communication: If there are tenants, inform them about the listing and discuss how showings will be handled. Clear communication ensures a positive experience.
   71. Yard Sign Installation Arrangement: Arrange for the installation of a yard sign. A visible sign helps attract potential buyers.
   72. Seller’s Disclosure Form Assistance: Assist the seller in completing the Seller’s Disclosure form. Transparency is key to a successful transaction.
   73. New Listing Checklist Completion: Complete the “new listing checklist” to ensure that all necessary tasks have been carried out.
   74. Curb Appeal Assessment Review: Review the results of the Curb Appeal Assessment with the seller and suggest improvements to enhance the property’s appeal.
   75. Interior Decor Assessment Review: Discuss the results of the Interior Decor Assessment with the seller and suggest changes that can expedite the sale.
   76. Transaction Management Software Integration: Load the listing details into a transaction management software program for streamlined organization.

MLS Listing and Marketing: Showcasing the Property

1. 77. MLS Profile Sheet Preparation: Prepare the MLS Profile Sheet with accurate and enticing property details.
   78. MLS Data Entry: Enter the property data from the Profile Sheet into the MLS listing database. Attention to detail is crucial.
   79. Listing Data Proofreading: Carefully proofread the MLS listing for accuracy, including property placement in mapping functions.
   80. Active Listings Inclusion: Add the property to the company’s Active Listings section. Ensure its visibility to potential buyers.
   81. Seller Copies Distribution: Provide the seller with signed copies of the Listing Agreement and MLS Profile Data Form within 48 hours.
   82. Additional Photos Capture: Take additional photos to upload into the MLS and use in promotional materials. High-quality photos enhance the property’s appeal.
   83. Print and Internet Ads Creation: Craft compelling print and Internet ads with the seller’s input. Attractive marketing materials attract attention.
   84. Showing Coordination: Coordinate showings with owners, tenants, and other agents. Promptly return all calls, even on weekends.
   85. Electronic Lockbox Installation: Install an electronic lockbox and program it with agreed-upon showing time windows. Controlled access is essential.
   86. Mailing List Preparation: Prepare a mailing and contact list for targeted marketing efforts.
   87. Mail-Merge Letters Generation: Generate mail-merge letters to the contact list. Personalized communication makes a lasting impression.
   88. “Just Listed” Labels and Reports Ordering: Order “Just Listed” labels and reports to announce the property’s availability.
   89. Flyers and Feedback Forms Creation: Design and prepare flyers and feedback forms for potential buyers and agents.
   90. Comparable Listings Review: Regularly review comparable MLS listings to ensure the property remains competitive in terms of price, terms, conditions, and availability.
   91. Property Marketing Brochure Crafting: Create a property marketing brochure that showcases the property’s features and highlights its unique selling points.
   92. Brochure Printing or Copying: Arrange for the printing or copying of marketing brochures or flyers to distribute to potential buyers.
   93. Agent Mailbox Brochure Placement: Place marketing brochures in all company agent mailboxes for internal distribution.
   94. Internet Listings Upload: Upload the listing to the company and agent Internet sites, ensuring maximum online exposure.
   95. “Just Listed” Notice Distribution: Mail a “Just Listed” notice to all residents in the neighborhood. Local marketing helps generate interest.
   96. Network Referral Program Inclusion: Advise the Network Referral Program about the new listing to tap into potential referrals.
   97. International Relocation Networks Outreach: Provide marketing data to buyers from international relocation networks to expand the property’s reach.
   98. Referral Networks Engagement: Offer marketing data to buyers coming from referral networks to connect with potential buyers.
   99. “Special Feature” Cards Creation: Design “Special Feature” cards to highlight unique aspects of the property.
   100. Internet Real Estate Site Submissions: Submit ads to the company’s participating Internet real estate sites for widespread visibility.
   101. Price Change Notifications: Promptly convey price changes to all relevant Internet groups to keep potential buyers updated.
   102. Marketing Material Reprinting: Reprint or supply marketing materials promptly whenever needed to maintain accurate and up-to-date information.
   103. MLS Loan Information Update: Regularly review and update loan information in the MLS listing database to provide current and accurate details.
   104. Buyer Feedback Communication: Send feedback emails or faxes to buyers’ agents after showings to gain insights and address concerns.
   105. Weekly Market Study Review: Regularly review the weekly Market Study to stay informed about market trends and dynamics.
   106. Feedback Review with Seller: Discuss feedback from showing agents with the seller to determine if changes can accelerate the sale.
   107. Seller Communication: Place regular weekly update calls to the seller to discuss marketing efforts and pricing strategies.
   108. MLS Price Change Entry: Promptly enter any price changes into the MLS listings database to keep the information accurate.

The Offer and Contract: Navigating Negotiations

1. 109. Offer Evaluation: Receive and carefully review all Offer to Purchase contracts submitted by buyers or their agents.
   110. Net Sheet Preparation: Evaluate each offer and prepare a “net sheet” for the seller, comparing the financial aspects of different offers.
   111. Counseling and Explanation: Counsel the seller on the merits and weaknesses of each offer component. Your expertise guides them in making informed decisions.
   112. Buyer Qualification Check: Contact buyers’ agents to review buyer qualifications and discuss the offer. Qualified buyers are more likely to close the deal.
   113. Seller’s Disclosure Sharing: Provide the Seller’s Disclosure to the buyer’s agent or buyer upon request and before the offer submission, if possible.
   114. Buyer Pre-Qualification Verification: Confirm that the buyer is pre-qualified by contacting the loan officer and obtaining a pre-qualification letter.
   115. Pre-Qualification Letter Acquisition: Obtain a pre-qualification letter on the buyer’s behalf from the loan officer. This confirms the buyer’s financial readiness.
   116. Negotiation Process Initiation: Negotiate all offers on the seller’s behalf, setting timelines for loan approval and closing dates.
   117. Counteroffers and Amendments: Prepare and convey any counteroffers, acceptances, or amendments to the buyer’s agent.
   118. Contract Delivery: Once the Offer-to-Purchase contract is accepted and signed by the seller, deliver it to the buyer’s agent.
   119. Deposit Handling: Record and promptly deposit the buyer’s money into an escrow account. Accurate handling of funds is essential.
   120. Showing Restrictions Communication: Disseminate “Under-Contract Showing Restrictions” as per the seller’s preferences.
   121. Seller’s Copy Delivery: Deliver copies of the fully signed Offer to Purchase contract to the seller for their records.
   122. Buyer’s Agent Copy Delivery: Fax or deliver copies of the Offer to Purchase contract to the selling agent to facilitate communication.
   123. Lender Copy Delivery: Fax copies of the Offer to Purchase contract to the lender to keep them informed about the transaction.
   124. Office Files Copying: Provide copies of the signed Offer to Purchase contract for office records and documentation.
   125. Additional Offers Management: Advise the seller in handling any additional offers submitted between contract acceptance and closing.
   126. MLS Status Update: Change the MLS status to “Sale Pending” to reflect the property’s current status in the market.
   127. Transaction Management Update: Update the transaction management program to indicate that the property is now under contract.
   128. Credit Report Review: Review the buyer’s credit report results and advise the seller on possible best and worst case scenarios.
   129. Seller-Financed Property Credit Report Sharing: If the property is to be seller-financed, provide credit report information to the seller.
   130. Financing Assistance: Assist the buyer in obtaining financing and follow up as necessary to ensure a smooth process.
   131. Discount Points Coordination: Coordinate with the lender to ensure that discount points are locked in with specific dates.
   132. Property Information Delivery: Deliver unrecorded property information to the buyer as necessary for their records.
   133. Septic Inspection Arrangement: Order a septic inspection if applicable to ensure the system’s functionality.
   134. Septic Inspection Report Review: Receive and review the septic system reports to assess their impact on the sale.
   135. Septic Inspection Report Sharing: Share a copy of the septic system inspection report with the lender and buyer as needed.
   136. Well Flow Test Report Sharing: Provide copies of the well flow test report to the lender and buyer, and include it in the listing file.
   137. Termite Inspection Confirmation: Verify that a termite inspection has been ordered and completed if required.
   138. Mold Inspection Verification: Confirm the completion of a mold inspection if it is necessary for the transaction.

Navigating the Loan Process

1. 139. Deposit Verification: Confirm the return of verifications of the deposit and buyer’s employment to ensure the loan process is on track.
   140. Loan Underwriting Monitoring: Follow the loan processing through to the underwriter, ensuring that the process is moving forward.
   141. Vendor Tracking: Add lenders and other vendors to the transaction management program for easy tracking by all parties involved.
   142. Weekly Lender Contact: Contact the lender on a weekly basis to ensure that the loan processing is progressing as expected.
   143. Loan Approval Communication: Relay the final approval of the buyer’s loan application to the seller for transparency.

Home Inspection: A Critical Assessment

1. 144. Home Inspection Coordination: Coordinate the buyer’s professional home inspection with the seller’s availability.
   145. Home Inspector’s Report Review: Thoroughly review the home inspector’s report and take action based on its findings.
   146. Transaction Management Update: Enter the completion of the home inspection into the transaction management software for accurate tracking.
   147. Inspection Report Sharing: Share the home inspector’s report with the seller and discuss necessary repairs or adjustments.
   148. Repair Request Discussion: Review the buyer’s request for repairs with the seller and determine the appropriate course of action.
   149. Repair Request Clarification: Clarify the buyer’s repair request and negotiate with the buyer’s agent as needed.
   150. Contract Amendment Preparation: Prepare an amendment to the contract if repairs are required, indicating the details and deadlines.
   151. Contract Amendment Delivery: Deliver the amendment to the buyer’s agent and obtain the buyer’s signature as required.
   152. Vendor Engagement for Repairs: Arrange for appropriate vendors to complete the necessary repairs as per the contract amendment.
   153. Vendor Monitoring and Follow-Up: Monitor the progress of repairs and follow up with vendors to ensure timely completion.
   154. Receipt of Repair Documentation: Receive documentation of completed repairs and verify their accuracy.

Appraisal and Closing Preparations

1. 155. Appraisal Arrangement: Assist in coordinating the appraisal and provide the necessary property information to the appraiser.
   156. Appraisal Review: Review the appraisal report to ensure its accuracy and assess its impact on the transaction.
   157. Appraisal Follow-Up: Follow up with the appraiser to ensure timely completion of the appraisal report.
   158. Property Survey Coordination: Coordinate the property survey if required and provide necessary information to the surveyor.
   159. Survey Review: Review the property survey for any encroachments or boundary issues and address them as needed.
   160. Title Search Confirmation: Confirm that the title search has been ordered and that the title company has all the necessary information.
   161. Title Search Review: Review the title search results for any issues or encumbrances that need to be resolved.
   162. Title Commitment Delivery: Deliver the title commitment to the seller and buyer for review and confirmation.
   163. Escrow Account Setup: Set up an escrow account for the collection of the buyer’s earnest money deposit.
   164. Document Coordination: Coordinate the delivery of documents to the closing agent or attorney as required.
   165. Seller’s Mortgage Payoff: Coordinate the payoff of the seller’s mortgage through the escrow account.
   166. Closing Statement Preparation: Prepare the closing statement for the seller and buyer, outlining the financial details of the transaction.
   167. Buyer’s Pre-Closing Walk-Through: Schedule a final walk-through for the buyer to ensure the property is in the expected condition.
   168. Buyer’s Walk-Through Follow-Up: Address any issues that arise during the buyer’s walk-through and ensure they are resolved.
   169. Closing Documents Review: Review all closing documents to ensure accuracy and address any discrepancies.
   170. Final Utility Reading Arrangement: Coordinate the final utility readings and ensure that all accounts are settled.
   171. Closing Funds Verification: Verify the buyer’s funds and lender’s funds are available for the closing.
   172. Closing Funds Transfer: Coordinate the transfer of funds to the closing agent or attorney for disbursement.
   173. Closing Statement Review: Review the closing statement with the seller and buyer to ensure accuracy.
   174. Seller’s Proceeds Calculation: Calculate the seller’s proceeds from the sale, taking into account all expenses and adjustments.
   175. Seller’s Proceeds Distribution: Coordinate the distribution of the seller’s proceeds after the closing.
   176. Keys and Access Information Transfer: Arrange for the transfer of keys and access information to the buyer.
   177. Seller’s Possession Release: Coordinate the release of possession to the buyer as per the terms of the contract.

Post-Closing Follow-Up and Beyond

1. 178. Thank-You Card Sending: Send thank-you cards to all parties involved in the transaction, expressing appreciation for their collaboration.
   179. Client Survey Request: Request client feedback through surveys to improve your services and enhance future transactions.
   180. Client Testimonial Collection: Collect client testimonials to use in your marketing efforts and to build your reputation.
   181. Future Contact Planning: Develop a plan for future contact and follow-up with the client to maintain a lasting relationship.
   182. Referral Network Maintenance: Keep in touch with your referral network and provide them with updates on your services.
   183. Continued Education and Improvement: Continue to educate yourself and improve your skills to excel in the real estate industry.
   184. Market Trends Monitoring: Stay updated on market trends and developments to provide the best possible advice to your clients.

This comprehensive guide provides an overview of the essentials tasks involved in mastering the art of real estate. Navigating each step with dedication, professionalism, and attention to detail will not only ensure your success but also build lasting relationships with clients and colleagues in the industry. With each successful transaction, you’ll hone your skills and establish yourself as a trusted expert in the world of real estate.