How-To Be a Listing Agent
Texas Style
On this page, we have assembled some training videos and tips that are helpful to prepare for your next listing.
Listing Agent Tools You Need to Buy!
Every agent needs this in their car!!! Laser measure with backup tape measure: https://amzn.to/3JJpIVZ
Something going on with the temperature? Point this at the AC vent https://amzn.to/3MYXEhe
Is that outlet working? Use this tester https://amzn.to/3t3o1uu
Got a stinky listing? Ozone: Treat it: https://amzn.to/3vAdfzQ
How to Run a CMA
Check out this great Listing Presentation Training
TXR 1101_Residential Real Estate Listing Agreement Exclusive Right to Sell.pdfResidential Listing Agreement, Exclusive Right to SELL (TXR 1101)
This form is an agreement between a homeowner (the seller) and a real estate broker, giving the broker the exclusive right to sell the property. It outlines the responsibilities of both the seller and the broker, including how the property will be marketed, the broker's fees, and the terms under which the property will be sold. The agreement also includes important details about the property, the selling price, and any special conditions or exclusions.
2024 - This includes new language about broker compensation
LISTING AGREEMENT EXPLANATION
Listing Agreement.pptx
Added July 15, 2024
eXp Real Estate Listing Agreement
This form is a listing agreement between a property owner (seller) and a broker, granting the broker the exclusive right to sell the property. It outlines the terms, including the listing price, broker compensation, and the responsibilities of both the seller and the broker. The agreement also includes provisions for marketing, showing the property, and handling offers.
Grants the broker exclusive rights to sell the property within a specified time frame.
Details the broker's compensation and the seller's obligations during the sale process.
Includes options for property promotion, showings, and additional terms like seller concessions.
Added August 16, 2024
Texas Intermediary Disclosure and Election Notice
This form is used to inform clients about the intermediary agency relationship in Texas real estate transactions, where the broker can represent both the buyer and seller in the same transaction. It explains the broker's obligations to act fairly and impartially and allows the client to choose whether or not to consent to this type of relationship.
USE THIS WITH THE LISTING AGREEMENT AND THE BUYER REP AGREEMENTS!!!!!!
NOTE: Managing Broker signature is not required!
Explains the intermediary agency relationship and broker’s role.
Clients can choose to accept or decline the intermediary relationship.
Details prohibited activities for brokers acting as intermediaries.
How to Prepare a Net Sheet - REQUIRED FOR ALL LISTINGS
Propy is another option
You'll need from the seller:
Copy of their most recent mortgage statement
You'll see the estimate of their payoff from the principal balance
You'll see whether or not they are escrowing with their payment for taxes and insurance. This will let you know if they're likely to get a net refund of their escrow account from their lender a few weeks after closing
If they don't have a survey, estimate about $600 for a new one to be purchased by the seller. It's better to estimate high and negotiate that to the buyer's side than to pretend it doesn't exist.
Ask them what their HOA resale fees are. This would be in their HOA docs that they received in the last closing.
How to Prepare Homes for Photos & Showings
Preparing homes for the listing involves several steps to ensure that your sellers can sell for top-dollar in the least amount of time!
Pre-packing - This is what we call it when the seller has a lot of clutter. We want to have them remove their prized collections (aka too much clutter and personalization) and allow the buyer to walk in the home and have the space to envision their belongings there. "Pre-packing" sounds a lot nicer than "Decluttering" and also includes removing the family photos, religious, political or other types of decorations that would detract from the home or possibly offend a buyer during a showing.
Staging - have a stager come in to tell them how to ideally place furniture in the home to show the optimized usage of the rooms in the photos. The stager will also tell them which things need to be touched up before the photos as well.
Pre-Inspection - it's often a great idea to get an inspection done BEFORE listing the home to allow the seller to have time to make necessary repairs that can often be done by a handyman at a lesser expense. It also gives the buyer some confidence when they see the inspection in Transaction Desk and the notes that all of these items have been already taken care of before they buy. It reduces surprises for everyone!
Prepare the Inside of the House - Before photos, have the house deep cleaned including the carpets. So many homes are a turn-off for buyers because the carpet is dingy and gross or smells. Clean the walls, baseboards, light fixtures and switch plates. Don't let your listing go for less than top dollar because it's dirty and leaves a bad impression.
SMELLY HOUSE? Use this ozone machine in each room for an hour or so https://amzn.to/3vAdfzQ
Prepare the Outside of the House - Before photos, make sure the yard is cleaned, the driveway and patios are power-washed and the trees are neatly trimmed. Also it helps to put some colorful flowers in pots and a doormat to make the entrance look welcoming for buyers and in photos.
Photos - This is a critical step!!!! Remember that most buyers see the homes online before ever stepping foot in the door. Without proper photos, your first impression to buyers might be "skip" or "swipe right". Don't cheap out and try to do the photos yourself with your phone. It's better to trust this to a photographer who has the right camera to produce the HD images AND set it up with the best lighting. (Oh and some other tips, make sure that fans are turned off and toilet seats/lids are down. Do your best to present the home in the best possible manner!)
Smells - If the seller is still living in the house make sure the seller is advised not to cook smelly foods and other things that will be a turnoff to some buyers. Walking into a house and getting hit in the face by the smell of fish or other seasonings can be a very bad first impression. Also, keep the dogs bathed so that they are not smelling up the house either. This is another reason to get the carpet cleaned too. It's also a good idea to have an essential oil diffuser in various places around the house with a few drops of a simple smell like vanilla. These are safer than candles burning and will run for hours. Oh, and don't forget to take the garbage out to the trash can!!!
Lights & Doors - have the seller leave all of the lights on and the doors open. This allows the home to be given the best first impression when they walk in. If the house is dark, they are hunting for light switches and they can't see how beautiful the rooms are. Make it easy. Also put a note in the showing instructions and a note on the inside of the door to agents to leave all of the lights on. It's habit for them to turn them off after showings.
Gather Documents - Gather all of the documents that you can up front to put into the MLS Transaction Desk to make your contract run smoother and close some of the loopholes for the buyer "outs" such as Seller's Disclosure, Survey & T-47, any inspection reports done on the property, listing instructions, and other information that is helpful for the buyer's agent to have when preparing the contract. Also, if you have a list of property upgrades that have been done, that is helpful too in marketing the property.
How to easily get a Seller's Disclosure prepared
The Seller's Disclosure Notice of Property Condition (SDN) is required by sellers of previously occupied single family residences and is to be used in conjunction with a contract for the sale of real property entered into on or after September 1, 2019. It contains information required to be disclosed by Section 5.008 of the Texas Property Code regarding material facts and the physical condition of the property.
There are only 11 exceptions from the requirement to provide this disclosure -->
The SELLER can choose whether they want to use the minimum TREC form or the more extensive Texas Realtors version of the form.
Check out the information below about Sellers Shield to get the form filled out electronically by the seller to get a clean, readable copy as opposed to a handwritten form and they can also purchase additional protection.
NOTE: If you do not provide the SDN before the execution of the contract, the buyer will have an automatic FREE SEVEN-DAY termination period to get out of the contract upon receipt all the way up to the day of closing!
Don't put your seller at risk! Provide the notice before executing the contract and ensure that 7B on the contract is checked "Buyer has received the notice"
SDN EXEMPTIONS: Texas Property Code Sec. 5.008. (e) This section does not apply to a transfer:
(1) pursuant to a court order or foreclosure sale;
(2) by a trustee in bankruptcy;
(3) to a mortgagee by a mortgagor or successor in interest, or to a beneficiary of a deed of trust by a trustor or successor in interest;
(4) by a mortgagee or a beneficiary under a deed of trust who has acquired the real property at a sale conducted pursuant to a power of sale under a deed of trust or a sale pursuant to a court ordered foreclosure or has acquired the real property by a deed in lieu of foreclosure;
(5) by a fiduciary in the course of the administration of a decedent's estate, guardianship, conservatorship, or trust;
(6) from one co-owner to one or more other co-owners;
(7) made to a spouse or to a person or persons in the lineal line of consanguinity of one or more of the transferors;
(8) between spouses resulting from a decree of dissolution of marriage or a decree of legal separation or from a property settlement agreement incidental to such a decree;
(9) to or from any governmental entity;
(10) of a new residence of not more than one dwelling unit which has not previously been occupied for residential purposes; or
(11) of real property where the value of any dwelling does not exceed five percent of the value of the property.
If you're not aware, Sellers Shield partnered with eXp Texas two years ago to reduce risk in your business and simplify the listing process. Please take a moment to watch our short introduction video below, then click the link below to access your account and get started today!
Watch the full demo below!!!
Will Collins, Acct Manager: will.collins@sellersshield.com
General Customer Support: customersuccess@sellersshield.com
Home Sale Legal Protection™ Support: protect@sellersshield.com
How to input the listing into MLS
EXP COMPLIANCE: Within 48 hrs of the signed listing agreement, you must must enter the listing transaction into Skyslope
Before you begin entering directly into MLS, take the time to go through the Residential Data Input form also found in Zipforms to make sure you've got it filled out correctly.
Below is a great video about how to input a listing into the MLS. When you are ready to begin entering your listing into MLS, this video will walk you through the process.
Before you go live, make sure you have all of your photos ready to upload.
CAUTION: Watch for the Listing Date field at the end before you make it Active. If you start inputting the listing several days before it goes Active, it will insert a date and then your listing will debut with 4 Days on Market instead of 0. Not a great way to get started. If you miss it, you will have to contact your association's MLS Department to get them to fix it. They are the only ones who are able to make that change.
Check out the video >> about understanding the MLS status definitions (Active, Active Option, Kick Out, Pending, etc.). You are required to change the status immediately. For example, when you have an accepted contract, change the status to either Active Option if there is an option period, Active Contingent, Active Kick-Out, or Pending. Do not leave it sitting in Active status waiting for money to arrive at title.
How to Optimize Your Listing with Transaction Desk
Sharing Documents with Other Agents via Transaction Desk
The Transaction Desk is a major time-saving feature in MLS. You can store documents associated with a transaction and select who can view them. This allows you to share documents on your listing. Go to Matrix and select Input. Click on Manage Documents via Transaction Desk. Create a transaction, selecting both the appropriate listing type and your role. Here are the documents that are recommended for sharing via Transaction Desk to protect your seller:
Seller's Disclosures - preferably the Sellers Shield version
Any inspection reports or documents required for disclosure by the Seller's Disclosure
Survey AND notarized T-47 (if available)
A document that communicates updates, etc. that have been done on the home
A document that describes anything specific to the transaction that should be noted on the contract when agents are writing their offers
Copy of the Disclosure of Relationship with Residential Service Provider signed by you and the seller so it can be signed by the buyer's agent and buyer
One thing to note is that by default, the documents are set to "Private" meaning that only you can see them. You can set your document permissions in your Instanet transaction file. Click on the star icon to change the settings of your document:
a star without any fill color is “Private” – only the agent and any super users in that office can view
a green star is “MLS Agent View” – all MLS subscribers can view - CHOOSE THIS!!!!
a blue star is “Public” – portal clients can view
What does “Public” view mean? When you make a document in your listing public, buyers will have access to that document through their Matrix client portals. “Private” documents are only viewable by you and by registered Supra users in your office. “MLS Agent View” means that all MLS subscribers can view the documents, but the public cannot.
If documents are marked for “MLS View”, the agent on the other end will see a message “There are no documents to be viewed at this time”. If any documents are marked for “Public view”, the agent will be able to view.
To upload your document, click on the blue bar to find a document or drag and drop from the desktop. Once it’s loaded, you’ll notice a green star.
That means that the document is set for only MLS subscribers. Click on it once to toggle to change the setting to public view and click once again to change it to private. Keep clicking to toggle among the choices. Bear in mind that public view documents will show up in IDX feeds as well.
How to install the Supra Lockbox at your listing
Watch the tutorial videos for tips and actually how to open the box.
Hit the "Open Shackle" button
Type in your 4 digit passcode and select the reason for opening the shackle
Select "Add on a New Listing" and enter the MLS ID number
Tap on the "Begin" button
Push up on the black keybox to turn on the Supra iBox
The app will start communicating and you will hear familiar chirping
When your phone makes the jingle sound, you can press DOWN on the shackle at the top to lift it out of the Supra
Now you can put the shackle over the door handle and slide the Supra back up onto the shackle to lock it onto the door at your listing
NOTE: If there is not a good way to hang it on the door because it won't fit, you can find an alternate place to hang it near the front door area preferably in a spot that will not allow the keybox to be stolen from the property like a nearby lamp or pipe.
If you do put it somewhere besides the front door, be sure to make that note in the showing instructions in MLS and in Showingtime so people get those appointment instructions and agents aren't left lurking for the box. You will get a lot of calls from confused agents.
Showing Scheduler from Showingtime (formerly CSS)
You can spend a LOT of time scheduling showings if you do not have a showing service to handle that process that allows buyer's agents to schedule showings at times that are convenient for them, allows the seller to approve or decline appointments and allows for blocking out showing times for when the seller may have family in town or something that prevents them from being able to leave for the showings. A service like ShowingTime will also allow you to set parameters around when agents can show the home, how soon they can schedule before showing up and even collecting feedback after the appointment. It also allows you to send broadcast emails to agents who have already shown the property.
Do all listing use the Showingtime appointment scheduling service?
Most agents use Showingtime, but not all agents use it because there is a monthly fee for the listing to be enrolled in the service. It makes it much harder for agents to show the house and also for the listing agent who has to manage all of the showings themselves. Sometimes appointments are set up directly with the agent because the seller wants their agent present at all showings. You will see this more in high-end homes. Follow the agent's rules.
NOTE: eXp does not have a brokerage account with Showingtime. You will need to create your own account by paying for the individual listing or setting up a monthly subscription if you have multiple listings every month.
You should be able to add, pay for and manage your showing in the ShowingTime website, but what number do agents call for help with listings?
SAVE THIS NUMBER AS A CONTACT IN YOUR PHONE --> Showingtime (817)858-0055 You may need it while you're out and about.
Before the showing
Unless your listing is not set as "Go & Show" where you don't need to approve appointments, give timely responses to showing appointment requests. Approve or Decline
After Showings
FEEDBACK: Follow up with the showing buyer agents to get constructive feedback to share directly with the seller to help them with their sale related decisions.
Reviewing an Offer
Review every offer carefully with a fine-tooth comb. DON'T SKIM!!!! Don't assume that it's filled out correctly!
Marketing Your Listing
After you get under contract... it's time for kickoff!
Live Listing Roleplay
Back to Basics of Marketing Your Listings
4 Things You Need to Sell Every Listing
How to Get the Correct Price
eXp Marketing Center Resources
Add to tour listing to Facebook Marketplace
Using Canva to Create Images
20 Ways to Market Your Listings
After you get under contract... it's time for kickoff!
Use the CFG Texas Transaction Checklist to fill in all of the contract dates & understand the timelines
TIME IS OF THE ESSENCE and the deadlines are windows for the buyer to get out. You want to close all the windows as fast as you can to keep the buyer in the contract! For example, get the HOA docs to the buyer ASAP because they get a free 3 day out after they receive them. If you've negotiated any repairs during an Option Period, also have the buyer check box 7 on the Amendment to close the Option Period. Know these key deadlines and manage them closely!!!
Send a kickoff email (sample below) to title with your Transaction Coordinator CC'd
Attach a copy of the fully executed contract, survey, T-47, etc.
Tell status of the survey per the contract (here are the options)
Also attached is survey and T-47 (if you have it).
Buyer has not received survey & T-47 from seller
Survey is attached, but buyer has not received T-47 from seller
New survey will need to be ordered and paid for by the buyer
New survey will need to be ordered and paid for by the seller
Send a kick-off email (sample below) with copy of the fully executed contract, survey, etc. to your client. Remember the rule that everything you receive is considered received by your client. Don't delay in passing along any documents to the client and other agent.
Hand it off to your Transaction Coordinator and get out of the way :) The TC will
Get the transaction setup in your eXp Skyslope account within 48 hrs of going under contract for compliance. If this is a CFG lead, that is reflected the commission split in SkySlope on the Commission tab.
Ensure that the Survey & T-47 are received by the buyer
Ensure that the EM & Option Fee is receipted by the title company
Help coordinate getting the inspection ordered & getting the report back
Tracking status of title work to send to buyer
Tracking status of HOA docs with title to send to buyer
Tracking status of the loan approval to ensure a timely closing
Tracking status of the lender's appraisal dates & completion
Communicating the Home Warranty selection by the buyer to the title company
Communicating the Home Insurance selection by the buyer to the title company
Ensuring the buyer receives wiring instructions prior to closing and understands the procedures
Coordinates the closing date and time with title, lender, clients, and you
Ensures that the title company receives a copy of the Commission Disbursement Authorization (CDA) from eXp found in Skyslope prior to closing so that commission checks are cut properly
If you are giving a commission rebate to the client, this form must be filled out and the letter received upon Broker approval must also be sent to title
After closing, obtains a PDF copy of the signed closing settlement statement (CD), eXp commission check, and your commission check to upload to Skyslope within 24 hrs of closing for compliance
Email Subject: Under Contract: 123 Main Street, Providence Village, TX
TO: Title
CC: Transaction Coordinator, Buyer's Agent, Buyer's Agent Assistant if applicable
-----------------
Good morning! We are excited to announce that this property has gone under contract. Copied on this email is the buyer's agent and my transaction coordinator to keep communication open and help the transaction run smoothly.
Please keep my Transaction Coordinator copied on all emails sent to me.
I have attached the copy of the fully executed contract.
Survey status: ______________
Please order the title and HOA docs immediately to ensure a smooth closing.
Please contact buyer directly to give payment instructions for submitting Option Fee & Earnest Money as outlined per the contract.
Please return the contract receipt page after you have received funds from the buyer.
Here are the transaction contacts.
Listing Agent: me 469-555-1212
Seller 1: ima.buyer@yahoo.com 214-444-1212
Seller 2: hesa.buyer@yahoo.com 214-444-1212
Transaction Coordinator: Name email phone
Lender: name email and phone
Buyer's Agent: John Doe john.doe.realty@yahoo.com 214-555-1212
Buyer's Agent Assistant: if applicable
Buyers: Type Buyer Names here from contract
Please find the attached contract including the seller's disclosure, existing survey and notarized T-47 form.
Please order the title and HOA docs ASAP!
Things to note about the contract:
1. Contract Acceptance/Effective Date: / / 2022
2. Earnest Money & Option Fee Due Date: / / 2022
3. Option Period Expires 5 PM on: / / 2022
4. Closing Date: / / 2022
5. Home Warranty:$ paid by seller
6. Closing Costs Paid by Seller: $
7. Lender Name
Lender Phone:
Lender Email:
Thank you!!!!!!!!!
Email Subject: Congratulations! You're Under Contract: 123 Main Street, Providence Village, TX
TO: Client
CC: Transaction Coordinator
-----------------
Good morning! We are under contract and I am very excited to be a part of your journey. Here are the next steps so you know what to expect to make this process smooth and easy. I have attached a fully executed copy of the contract for your records.
The title company will be reaching out to the buyer to collect payment for the Earnest Money and Option Fee. The title company will be coordinating the transaction all the way through closing and funding. The initial funds must to be delivered by the third day after the contract is executed (not counting Saturday, Sunday, or holidays when the title company is closed). The effective date on the contract is day 0, so they need to be delivered by _____________ before midnight.
An inspection will likely be scheduled before the option period ends at 5 PM on _____________. After the inspection, the buyer may request that some repairs will be needed before they will close. This is a negotiation step. Once negotiated, all repairs agreed to must be completed. If the repair requested involves things like plumbing, electrical, or landscape irrigation, those repairs must be completed by a licensed contractor. Receipts for all repairs must be detailed and provided to the buyer. Some repairs like roof work, if the roof is too damaged, will prevent any buyer from being able to get insurance and without homeowner's insurance, they will not be able to close with a loan.
If this home is in an Home Owners Association (HOA), the title company may be requesting you the paymet to order documents from the HOA upon receipt. We do not want to delay this process and it's possibly worth it to order it on a rush if needed to close one of the options for a buyer to get out of the contract.
We will be tracking the buyer's loan approval and closing status as well. At some point, an appraiser will be coming to see the property to assess value for the loan basis.
Final cash to close will be coordinated by the title company and funds can be sent via wire. They do not typically accept personal checks or even cashier's checks.
WATCH OUT FOR WIRE FRAUD: Before closing, the title company will be reaching out to you directly with instructions about how to wire funds to title for the closing. It has happened that scammers have managed to get a hold of transaction information and may spoof emails that look like the title company. For example using a number 1 instead of a letter l it the email address for tit1e and you may not notice it. Upon receipt of the wiring instructions, please call the title company directly at ____________ to verify that it was them who sent the instructions.
After the closing, your lender will review the closing documents to make sure they have everything they need to fund the loan. It sometimes takes an hour or two after closing. Once the loan funds, you will be closed!