6.7 Paperwork Procedure for Residential and Commercial Listing Transactions

Associates must provide and perform the following actions to complete a listing file:

1. Upon scheduling a listing appointment, email your TC the following so they can prepare you’re listing packet:

a. Tax record

b. Listing period & price (if known prior to appt.)

c. Seller(s) name, address, email, and phone

d. TC fee – if being paid by seller or agent or split

2. TC will then prepare a complete paperwork and disclosure packet and email it to the Agent before the appointment.

3. Agent must prepare and complete the following tasks on their own to present to the seller(s) at the appointment:

a. CMA (Competitive Market Analysis) showing ALL comps.

b. Seller’s estimated net sheet (this can be obtained from an escrow company of your choice or done in most MLS programs)

c. Create a new contact in Skyslope and log your communication and activity in the Comments section under that contact. Forward the CMA and Net Sheet to your TC for upload into Skyslope .

d. Complete an Agent visual inspection during the listing appointment, and fill out any agent inspection documents if required by that State.

e. If you will not put the home directly in the MLS within 24-48 hours, someMLS and local Boards require that the Agent must complete an MLS exclusion form and fax/email it to their MLS within 24 hours of execution. The form must be signed by your broker as well as your client. Send this form to your broker for electronic signature immediately after your listing appointment.

4. Within 24 hours of completion of any listing paperwork, the Agent or TC will create the Listing in Skyslope Any signed documents need to be uploaded to the transaction for review from your T.C. and Reviewer. The Agent must notify the T.C. and Reviewer that the transaction has been created. The Reviewer will then review the files and the T.C. will start to build the file.

5. General types of documents required for a preliminary listing package so the TC can start to build a complete file

include: * documents will vary by state

Agency Disclosures
Statewide and Other Disclosures
Listing Agreement
Seller’s Advisory
Seller’s Listing Information
Well or Septic Disclosures (if applicable)
Mineral or subsurface rights (if applicable)
Electronic Signature Verification/Authorizations
Real Estate Transfer Disclosures
Seller Disclosures or Property Questionnaire
Agent’s Visual Inspection
FIRPTA (Foreign Investment Real Property Tax Act)
Environmental Booklet Hazards Receipt
Local Area Disclosures or Booklet Receipts
Water Heater Bracing, Smoke or Carbon Monoxide Detector Disclosures
Water Conservation Certificate or Disclosures (if applicable)
Lead Based Paint Disclosures– year built 1978 or prior
Natural Disaster Hazards Reports
Advisory Disclosures
Statewide Disclosures
Keysafe/Lockbox (if applicable)
CMA
Seller’s Net Sheet
MLS Printout
Tax Record
Trust, REO, Probate, or Short Sale Advisory (if applicable)

Any modification of terms (MT) is required to be in writing for any listing change. Each State has a unique form for this document. Any MT signed must be turned in within 24 hours for review and must be completed and signed prior to making the change in the MLS. The form must be uploaded into Skyslope within 24 hours of being signed.

If a listing is canceled, you will change the status from Listing to Canceled in Skyslope within 24 hours and notify your TC and Reviewer of the cancellation. Any canceled listing must have the Cancellation of Listing signed by client and Broker and must be uploaded into Skyslope prior to canceling the file.

Agents must fill in and complete all the broker #’s, license #’s, office addresses, phone numbers, fax numbers, and email addresses on all documents. All documents must be fully executed and the confirmation of receipts must be properly filled out.

The Company highly recommends that a home warranty be purchased on ALL transactions. Even if the seller or bank refuses to pay, the Company highly recommends that the buyer obtain one or the Agent/Loan Officer should consider offering to pay for the home warranty from the Agent’s commission. The Company recommends that the Agent requests the maximum coverage. If a client refuses to purchase a home warranty protection plan, a waiver must be signed by the client.

Always verify the correct amount of coverage is obtained for the home warranty order and you may add a specific brand of warranty to help reduce the Company’s E&O insurance deductible, in the event of a claim. Check with the E&O company to see if this is an option.

A complete checklist of all the documents required to be signed in order to complete a listing file can be found in the Escrows folders under the AARE main folder on Google drive. A copy of the transaction checklist may also be found in the “Library” section of Brokermint. Agents will not be paid until the file is complete and reviewed.

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