How to sell real estate in texas
The Ultimate Step-by-Step Process of How to LIST & SELL Someones Home
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your new agent and you're about to list
your first toast it's pretty simple
right you just you know toss up a couple
photos and put some details into the
computer and away you go
not so fast
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I get asked this question time and time
again from new agents how to properly
sell a house start to finish what is
every single step involved with selling
and listing somebody's property so in
today's video I'm gonna tell you guys
every single step that you need to know
as a new agent listing your first
property in order to make sure that
you're doing it properly getting the job
done right and make sure that you get
the home sold and get paid so without
further ado let's get into it and go
through this step by step process on how
to properly sell your first listing
what's up everybody my name is Mike
sherrard thank you so much for tuning in
as always any if you're new welcome to
the channel thank you for coming across
and tuning in to this video please make
sure if you do get value give the video
a thumbs up and subscribe if you haven't
already I'm sitting here having a beer I
usually don't do that to be quite honest
but it's the weekend I'm exhausted and I
want to create these videos for you guys
I make a promise to every single week
put out a minimum of three videos for
you so I'm trying to you know while I'm
not outside enjoying patio beers like
the rest of my friends I am in the
office creating videos and content for
you while enjoying a beer as much as I
can so without further ado let's get
into this guy's every single step that
you need to do and know in order to
properly sell a house from start to
finish so this is going to be incredibly
helpful make sure you stay through to
the end make sure you take notes you're
not gonna want to miss a step otherwise
it could affect the process of you
selling that property so let's get into
it
step one the first thing that I like to
do before even meeting the clients in
person and before even going through the
property I like to get the address so
whether your referral came in or whether
it's something from social media paid
advertising online lead generation
whatever your website however you get
this client however you get this listing
presentation make sure that you get the
address so what that does is that allows
you to be prepared ahead of time that
gives you some time to do some due
diligence go through
look if some comparables of the property
even though you can't identify an exact
price of the property because you
haven't seen the current condition you
haven't walked through it and learned
the ins and outs of that specific home
you can do about 90% of the work ahead
of time you are able to you know run the
comps on the MLS you are able to look at
the you know sales history in the area
and look at something that is similar
also it allows you to pull title that
gives you the proper sellers names that
are on title and it gives you an idea of
what's associated with the title art is
there anything funky with the property
are there any you know liens on it are
there any restrictive covenants is there
anything about the property that you
should know that you wouldn't know at
face value by looking at it or walking
through so step one get the address and
do some due diligence make sure that
you're prepared make sure that you're
ready to answer questions and come
prepared with your listing presentation
with the comparables with the numbers
now step two is the meet and greet this
is a bit of a lengthy process but this
is something that's gonna help you get a
leg up big time so you don't just meet
for them for coffee and you don't just
you know banter around for a little bit
you want to meet with them at their
property and get them to give you a tour
the reason why you want to get them to
give you a tour and have them lead it is
because they've lived in that house
you're just walking in there for the
first few minutes they have lived there
so what that means is they know certain
things about the property that you
wouldn't know because they know every
little nook and cranny of the property
they know certain creature comforts that
you would need to live there to
understand or get an appreciation for so
get them and ask them to give you the
Grand Tour of their property so during
the meet-and-greet before you guys sit
down before you guys look at numbers
comparables listing presentation get
them to give you a full tour of their
property top to bottom every square inch
get them to tell you what they love what
they don't like anything about their
property and get them to guide that now
after you've done that usually you want
to sit at something like the dinner
table and go through your listing
presentation this is where you're gonna
talk about you your brokerage some
statistics that you know help boost you
up a little bit some things you know
your competitive advantages for me I
like to talk about you know
social media marketing and some of the
innovative marketing strategies that we
use but this is where you're gonna go
through your listing presentation and
talk about what makes you different why
you would be the best fit for the job
what you're gonna do for them above and
beyond the rest and then you also get to
go through the comparables so this is
the evaluation part this is where you
need to kind of think quickly on your
feet so what you need to do is use your
preparedness from the understanding of
the comps you use before coming into the
property blend that with what you just
saw and on the spot come up with a list
price and come up with a value that you
think would be best for the property now
I'm gonna talk to you guys about how to
get the right list price in a different
video but this is what you need to do
now you also want to discuss the
following after your listing
presentation you want to discuss the
list price what price you want to start
at you want to discuss the list date how
much time you know if you want to list
next week you need to give yourself some
time to complete the rest of the steps
that I'm gonna talk to you guys in this
video you need to discuss the listing
process which again I'll go through and
then you want to explain expectations
for example we here in Calgary are in a
very slow tough market so you can't walk
in there and have full confidence
telling sellers that you're gonna sell
their house in 24 hours it could happen
but typically it doesn't happen so don't
say things that are out of the realm of
reality set some expectations get an
idea of what their expectations are of
you is their primary focus communication
is a primary focus having open houses
what do they care about get an
understanding of each other's
expectations it's a team work effort
it's a partnership it's not a one-sided
kind of thing it's not a dictatorship so
work together with them getting an idea
of your expectations so once you've
identified the list price the list date
the listing process and the expectations
and everyone's in agreement that's where
you go to step 3 which is signing the
documents before you pay for any of the
next steps you want to make sure that
you sign the right documents to make
sure that you're covered make sure that
you are the only agent they're working
with and that will give you full
confidence going forward that
documents that you need to sign at least
up here in Calgary is three primary
documents which is the exclusive seller
relationship agreement this outlines the
following things and basically says that
you are the only agent they're working
with to sell their house and outlines
things like your brokerage name your
name the clients name the list price the
length of the listing agreement which
you know typically I like to use six
months to make sure that I've sufficient
time to list the house sell the house go
through possession all that good stuff
material latent defects you need to list
anything that is affecting the property
that are material latent defects so
that's something you need to make sure
you discuss to the sellers and then
finally you need to discuss Commission
this is where sometimes objection
handlers will come into play because
every agent does reserve the right to
negotiate his or her Commission's but
Commission needs to be outlined in that
agreement so that they know what they're
going to be paying the buyers and they
know what they're gonna be paying you as
a selling agent so Commission's are part
of it
the other two documents are the consumer
relationship guide which outlines your
fiduciary duties that you're obligated
to owe to the sellers and how you're
acting on their behalf and the other one
the final one is FINTRAC which is
government identification this explains
you know their driver's license info who
they are where they work what the intent
of the property was whether it's a
residential you know property or if it's
an income property any of that so those
are the three main documents so that is
step number three now beer break okay so
step number four this is where things
get a little more fun and a little more
hands-on some number four is scheduling
everything that you need to do in order
to list the house you need to schedule
professional photos don't go in with
your iphone snapping pictures and stuff
like that you're a professional you want
to represent yourself in a professional
way you want to represent their home in
a professional way make sure you hire a
professional real estate photographer to
go in and take professional photos of
their house it's going to help you build
your portfolio it's gonna help your name
become associated with quality it's
something that you want to do from the
very first listing you ever get so make
sure you do that you also need to
schedule professional measurements you
need to schedule sign installation
and you need to install the lock box so
that other agents have access to the
property once it's listed and finally
you need to create any other marketing
content if necessary for some luxury
properties you want to make sure that
you're doing a property video you need
to sometimes do a single property
website or sometimes you need brochures
things like that so step four is
basically scheduling and doing
everything content and marketing related
in order to get the house properly
listed for sale step number five is
uploading all of the details to the MLS
this is very gonna have to you know talk
to the sellers and get a feel for
everything within the house you need to
know the direction it's facing you need
to know you know how many bedrooms how
many bathrooms which comes into play
with the measurements you need to know
what's included with the property is
there air conditioning you know every
single detail of the property needs to
be listed on the MLS and that comes down
to you having that discussion with the
sellers having an understanding of their
property during the walkthrough but step
5 you need to list everything in the MLS
in order for it to property go live and
you need to set up whatever showing
system you guys use in your area step 6
don't live this is when you get to click
the active button you get to go live
with your listing you get to show off
all your amazing photos your videos all
that cool stuff the property is live and
now it's active on the MLS for every
single person to see now step 7 is
marketing this is something I love this
is where the fun starts but this is
where most people stop after it goes
live so many people just stop and let it
become a sitting duck no don't do that
that's not the way to do it after it
goes live this gives you access to share
the link with people share it on
LinkedIn Facebook you know whatever also
make sure you share it on your Instagram
make sure that you're doing paid
Facebook advertising make sure you're
putting the property on Facebook
marketplace and Kijiji and everywhere
you possibly can step 7 is marketing and
it doesn't just happen the day after you
listed it happens over and over and over
on a consistent basis so you sell the
property you want to make sure that
you're actively working to sell a
person's property and that you don't
just upload it to the MLS and keep your
fingers crossed and toes cross and hope
for the best make
you're being proactive about it and make
sure that you are doing additional
marketing so step eight is accepting
showings once the listing goes live on
the MLS is going to show up in buyers
search criteria that are looking for a
property like that so people are gonna
start scheduling showings with you
they're gonna want to see the property
they're gonna want to go for a tour and
the buyer's agent is gonna want to take
his or her buyers through the property
so they're gonna start requesting
showings now one thing that I will
advise is make sure you actively work to
get feedback from the showings all
agents aren't that great at giving
feedback
I'm not everybody's not it's just we're
so busy that sometimes it is tough to
get back to every single feedback of
every single listing that you're showing
so shoot the agent attacks give them a
call whatever make sure that you get
feedback because good or bad you want to
be able to relay that message to your
sellers because it keeps them in the
loop and it also gives you guys an idea
if you need to adjust the price if you
need to make any tweaks to the property
whatever it might be make sure you're
updating the seller and keeping them in
the loop every single step now let's say
that the property's been on the market
someone sees that they love it now we're
going to receive an offer step nine is
receiving the offer now what are you
going to receive I'm gonna break down
every single component that you're gonna
receive all the primary components that
you're gonna receive on a purchase offer
for your listing you're going to receive
the details of your property like the
address and you know like some of the
things that are included like the
dishwasher refrigerator stove oven
microwave all that good stuff
you're gonna receive the initial offer
price from the buyer something that
you're going to start negotiating after
and you're gonna receive proposed
possession date the deposit amount and
the due date of the deposit the
conditions for the buyers now typically
on a detached home you're going to
receive buyers conditions of financing
and property inspection now sometimes if
the buyer has not yet sold their current
house you're going to receive an
additional condition which is the sale
of their property now if you're dealing
with a condo or something that has
no fees you're also likely going to
receive a condition that's the review of
the condo documents now you're also
going to receive terms which are
additional requests from the buyers
sometimes you'll want to do a
walk-through before possession sometimes
we want the property professional
cleaned things like that and then
finally you're gonna have the date and
time that the offer is open to typically
a standard is about 24 hours so within
those 24 hours that means that's when
you have to get your negotiating done
that's when you have to do all your back
and forth and get to a signed agreement
after those 24 hours the deal is now
considered EDD you can either extend the
current offer or you can start a new one
so step 10 negotiate this is where it
gets really exciting you now get to work
back and forth and you know play off
your strategic negotiating skills and
work towards an agreement basically you
need to work towards agreeing on the you
know possession date the final sale
price of the property and the conditions
and make sure that everyone's happy so
negotiate and accept it's gonna be a lot
of back-and-forth typically and you're
gonna have to pull some strings and and
get a bit creative but this is fine and
this is where you really get to shine as
an agent make sure that you get the
highest price for your sellers so after
you accept that we roll on into a step
number 11 which is the condition period
this is where the buyers are gonna start
going through their conditions they're
gonna schedule a property inspection to
go through with their inspector check
out your property and make sure that
everything is all good or if there's any
talking points that they want to
negotiate further and try and get a
better deal on the property but this is
gonna happen and then also this is where
they're gonna start going through and
sometimes they need to book an appraiser
and sometimes they need to do a review
the condo document is where you're gonna
have to work with the seller to get the
condo documents provided to the buyers
the buyers are gonna do the condo doc
review and get back to you with whether
or not everything is all good so let's
say now conditions are good financing is
approved condo doc review went well if
it's a condo and property inspection
nothing came up step 12 is the waiver of
conditions now if you receive a waiver
of conditions from the buyers they're
gonna submit it to you that means that
they are waiving all of the conditions
that they had in the
purchase contract which means the
property can now go firm now let's say
they found stuff in the inspection that
didn't go well let's say they didn't get
financing approval let's say they just
got cold feet and they might send you a
non waiver and what that means is that
they're not to waiving conditions which
means that the deal is dead now for the
sake of this video we're gonna continue
on as if they did submit the waiver of
conditions and now the deal is firm this
is when you get lawyers involved after
the deal is firm you get lawyers
involved in order to do the transfer of
title and all the legal work that is
involved with the formal aspect of
buying and selling properties so you're
not involved too much after that now
after the property goes firm they're
more likely to be in the hands of the
lawyers until possession now if the
buyers do have a term in there for a pre
possession walkthrough you need to make
sure that the property is in amazing
shape before their walk through because
what happens sometimes is that if they
walk through and your clients you know
banged up some walls while they're
moving out and you know there's still
stuff everywhere they can go back to
their lawyer and they can negotiate that
so make sure that your clients are well
aware that they need to keep the place
tidy they need to be very diligent about
it and be on schedule so make sure that
your clients as sellers if they're
moving to a new state a new property new
community whatever make sure that
they're proactive make sure that they
don't wait to the last minute so that
they can get out and make it bacon step
number 15 possession this is when buyers
are gonna take possession what you're
gonna do as a seller is you're going to
receive a call on possession date from
the lawyer's saying that keys are
released and now it's in the buyers name
so that they can take possession that
means that your guys have to be out of
the property whether they're in their
new one whatever it might be you need to
make sure that they're out of there it's
clean it's empty and it's ready for the
new buyers and step 16 guys the very
last step thank you so much for staying
to the end is make sure you nurture your
sellers again whether they move to a new
state a new province a new city anything
make sure that you don't drop
communication with them make sure that
you have certain touch points throughout
the year you keep in touch you keep
those communications going with them
because as you may
no typically one client that you worked
with can over a lifetime result in seven
referrals if you nurture them properly
so the job doesn't end on possession day
it never ends you need to continue to
stay in contact with them you need to
make sure that you're nurturing them
providing value to them whether it be
you know monthly activity reports or
anything insightful about the city or
the community or the neighborhood but
don't cut ties with them nurture them
make sure you you know you're providing
value to them on an ongoing basis and
doing anything that you can do to help
them so that in turn hopefully you will
stay top of mind and they will help you
at the end of the day so that's it guys
sixteen steps to help people properly
sell a house I've got a separate video
on how to probably help someone buy a
house so if you want to stay to the end
screen and check out that but hopefully
you found some value in this as you've
seen sixteen steps here there's a lot
more than just tossing it on the MLS and
waiting for an offer you have to be
proactive you have to be involved and
there's a lot of communication involved
in this process hopefully you got value
from this video please smash that like
button and subscribe if you haven't
already we're gonna put out a ton of new
content for you guys so thank you so
much for tuning in as always and we will
see you next time
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