Listing Procedures
Best Practices for Listing like a Professional
Types of Seller Leads
FSBO: A "FSBO" or For Sale By Owner is someone who is trying to sell their house without an agent. A lot of the time they have been burned by agents and don't trust them. We get FSBO leads through "Mojo" which is a data collection service. You can find them because they usually have sign in the yard, and have posted on a few sites. Zillow has a search setting just for them. They need to be convinced they don't know what  they're doing and that agents aren't out to scam them.
Expired: Listings that are on the MLS but then don't sell are call expired listings. The seller usually wants to sell still, and is usually open to a new agent since their previous agent didn't get the job done. These leads are also from Mojo, and we send mailers to them. They usually need to be convinced that you are better than the last agent. Our marketing plan is something you should be referencing a lot, especially if the other agent had crappy pictures.
SOI: These can either be really hard to convert or really easy depending on the person. Sphere of Influence leads are either people you know or their friends. They usually need help seeing you in a professional light in order to trust you. You should always be talking about real estate so they come to you to buy or sell.

Depending on the type of seller lead, they might need a different type of script in order to convert them.

Follow Up
Determine the type of seller(s) you are working with by identifying their personality traits and the motivation for seller. You want to be sure you are mirroring the language and communication style the client is displaying. Link to more on the DISC
  1. "High D" personalities want the highlights and want to be sure you are capable. If you bore them with the market details, their eyes will glaze over. They want to know what you think they should list at, and what your experience is.
  2. "High I" personalities want someone pleasant and want to connect with the agent. Mention your pet if they have one as well, mention how you love their collection of stamps, and mention how you also root for Manchester United.
  3. "High S" personalities want someone who will consistently show up. They like stability. Consistent results and experience.
  4. "High C" personalities want intricate details. They want the average sales price, how many homes sold in the neighborhood, what direction the market is going, and ALL the comps.
Depending on the personality, adapt to their preferred communication style and methods of communication. If they only text you back, stop calling them. If they don't seem to be good at texting, set up a call. You want to be sure you are mirroring the language and communication style the client is displaying in order to connect. You'll be more likely to win the listing when they think you are like them. 

What to Say
Link to scripts
Following up with leads is the most important part! It can take 8 to 12 touches (calls, texts, emails) before you get a response. Depending on the person, it can be more or less. If you've never gotten a response, keep the messages short and sweet with questions at the end so they feel compelled to answer. If you have touched base with them, you can start to narrow in on their preferred communication style.
Good questions to ask:
  • Is there a time we could get together so I can get your house sold?
  • ​Why are you selling?
  • Do you plan on interviewing more than one agent for the job of selling your house?
  • Where are you moving? (and then get a referral or help them buy)
  • Do you feel like I can sell your home?
  • Have you seen our Marketing Plan?
  • If I sell your home in the next 30 days, would that pose a problem for you?
  • Is there anything positive or negative about your house that could affect the price?
Always ask for an appointment. If you can meet in person, you have a better chance to get the listing.

Utilize the Systems
KV Core is our CRM that you can use to remind you to follow up, or set them up on an email/text campaign to do it automatically. KV Core has some built in campaigns that you can use or alter. It can be as easy as "Hey, just checking in. Are you ready to list your property?" Consistent follow up is what wins the game. 

Pre-Appointment Prep
You also want to be sure that you can meet with all the "decision makers" at the same time. If one person is going to meet you for a listing appointment, you should double check the spouse is coming too. If it's an LLC or company, be sure that the person you are meeting is actually someone legally authorized to sign paperwork. If you think they will sign, prep paperwork before the appointment. 

Other Resources
Link to customizable listing presentation
Our marketing plan
MREA Listing Materials

Monice Ming Tong's listing presentation example
Monice Ming Tong's Listing Presentation class (video)
Ben Kinney's Explanation of Listing Presentations
Ben Kinney's Leads, Listings, Leverage
Jeff Glover Listings

Pre-Listing Paperwork 
Once a client is ready to sign, the agent needs to prepare paperwork. The paperwork will vary depending on the type of property (Residential, Multi-Unit, Commercial, Farm/Acreage/Land, or any combination of these). For an in depth explanation of the paperwork, see the Document Dictionary. 
For a Residential Property (Single Family):​
  • Listing Contract (WPML Form)
  • RES Input Statement (WPML Form)
  • Consumer Notice (PAR Form)
  • DN Team Policies and Procedures (DNTeam specific)
  • Lead Based Paint (PAR Form)
  • Showing Status and Lockbox Input (with emails and phone numbers for ALL owners and occupants)
  • Mold Disclosure (DNTeam specific)
  • EXP Affiliated Business Disclosure (EXP)
  • EXP Wire Fraud Disclosure (EXP)
  • Estimated Costs (at listing price) (PAR Form)
  • Seller's Disclosure (WPML Form)
  • Home Warranty: Accept or Decline signature (HSA)
For a property that is 2 to 4 units, in addition to the above, you need:
  • Contact info for tenants and property manager on the Showing Status sheet (if any) 
  • RES and MUL inputs (WPML Form)
  • Leases
  • Proforma/Profit and Loss Statement of current income and expenses
For Commercial Properties and Multi-Units with 5+ units, you don't use a seller's disclosure. You will have the seller fill out a "Commercial Property Information Sheet" which is also a PAR document.
  • Commercial Listing Agreement (WMPL)
  • COM input (WPML)
  • MUL input if there is any residential units
  • Any COM with RES units needs a LBP disclosure
If the property is owned by an LLC or entity, you need the operating agreement for that company. Title companies ask for it, so you might as well get it up front. This will tell you who has the authority to sign for the company. 

Tricks and Tips
  • Please give the admins a heads up on the listing so that they can plan their input time period.
  • You should also be considering if the house needs professional pictures. If it's dirty and you know the seller won't clean, we won't do pro photos. If it's a nice house, we should be trying to schedule pictures before the house hits the market. It always looks nicer when professional photos are live on initial input. It can sometimes take our photographer a week or two to get out there, so it might take a bit of planning. Coordinate with admin to make sure this is done timely. Don't just dump a listing on the admins and expect photos to happen quickly. It takes time for sellers to prep the house and sometimes we're working around their work schedules.
  • If you have a multi-unit property, you should be checking that it has valid occupancy permits for each unit. Call the municipality for verification and see if you can get a copy. Usually they can email it, but some municipalities are strict about having to fax or mail it. You can pull occupancy permits from the City of Pittsburgh online: https://pittsburghpa.gov/pli/cert-occupancy-search 
Showing Input and Lockbox Sheet
This is a team specific sheet that is so important that it gets its own section. It collects info for the admins THAT IS HIGHLY IMPORTANT AND ALWAYS OVERLOOKED! This is to be typed to prevent readability issues. 
  • Seller contact info is important to label and put on this sheet. Put the full name (and any nicknames) so we know who we're talking with. This includes their future address so we can build our database. If they are buying something, that's fine to leave it blank.
  • Tenants should be labeled with their unit so we can quickly contact correct people. Try to get their emails, but some landlords don't have that information. It doesn't matter if you have the info in your phone. It needs to go on the sheet ASAP so that we can get in contact with everyone.
  • Ask the seller what the utilities are up front so we can have the buyer transfer them easily. "Public" is not acceptable. There needs to be EXACT company names like "PWSA" or "American Water" since those both work on different parts of the city.
  • Also stating any tricky doors, special instructions about lights, who confirms showings, alarms, etc makes life easier for everyone.
Showing Types Explained:
  • If it’s vacant, it will be “call first, lockbox” on the MLS and be put in ShowingTime as “go and show” with text/email notifications to seller. 
  • If there’s someone there that needs to be asked for permission, it’s “appt required, lockbox” in the MLS and “appointment required, confirm any” with the correct people marked as able to confirm. 
  • If everyone has to confirm appointments, it’s still “appt required, lockbox” in the MLS and “appointment required, confirm all” 
  • If there’s tenants, it’s “call first, lockbox” in the MLS and Courtesy call in ShowingTime with 24 hours notice. This will auto confirm appointments and call/text/email the tenants. We usually do not want to allow the tenant to approve showings because they will just deny them. Exceptions will be made on a case by case basis.
West Penn Listing Contract Line by Line (Updated 5/21)
  • ​​Line 1 is the listing office (EXP Realty LLC, office ID 88809, 888-397-7352) and this is automatically saved in the template.
  • Line 2 is our office address. It's the branch office, not the Philly address (600 Waterfront Drive Suite 200 PGH PA 15222)
  • Line 3 Owner name is to be filled out as it reads on the deed. If it's an LLC or company on the deed, you need to put that in there. If it's an estate, you should put "The Estate of Joe Smith, Executor: (name)". If there's 10 people listed on the deed, all 10 need to be on the listing contract. 
    • ​You can see who's on the deed on the county website (see main Resource page for direct link to county site)
    • If they just bought it and are listing it immediately (wholesale, flip, etc), the site might not be updated yet. Just ask for a copy of the deed to be sure you get it right.​
  • Line 10 is the address of the property, as it is on the county website, the mailing address.
  • Line 11 is asking for a description of the property. It would be "2 story cape cod built 1950" or brick triplex built 2000" and the second part is the municipality and county. So it would be "City of PGH/Allegheny" or "Penn Hills/Allegheny". The municipality is listed on the county website, top right.
  • Deed Book and Deed Volume are on the County site. Main page, right hand side.
  • Zoning is usually R1 or R2 for a single family or duplex. You can check the zoning on the occupancy permit (from municipality) to be 100% sure, but the county site has a general classification.
  • The Identification Number is asking for the Parcel ID. You need to put ALL the parcels included on the listing contract that are included in the sale. If they're not on this contract, you don't have the legal right to sell it. Sometimes there's more than one parcel that goes with a property that looks like it should be one parcel. You can take a look at the parcel overhead on the county site, on the maps tab. 
  • Line 20 is the price of the property you are listing at. Run a CMA to determine it.
  • ​Line 26 is the start date. The client should be signing on that day. The listing MUST be on the MLS in 72 hours after signing, so be sure there's time for the admins to put it in the MLS. End date cannot be more than a year from the list date. If the start date is 9/23/22, then the end date has to be 9/22/23 or sooner.
  • Line 30 is the "early termination date" where the client can terminate the contract after X amount of days.
  • Line 45 is the MOST IMPORTANT ONE FOR YOU! It's the commission for both the listing side and the buyer side (total commission being paid by the seller). The template is already prefilled with "7% or $4500, whichever is larger, plus $750 additional commission" so you can leave that if you don't know what to do. There is a minimum of $500 additional fee for listing side transactions if you want pictures, etc. 
    • ​If the sales price is $100,000, the seller would be paying $7,000 in commission, plus the additional $750 for a total of $7,750.
    • If the sales price is $50,000, then 7% of the sales price would be $3,500. Since our contract says "7% or $4,500, whichever is greater" and $3,500 is less than that, we switch to the flat rate. The total commission would be $5250 ($4,500+$750)
    • To find what the listing side makes, you take the amount on line 85 and subtract is from the total amount on line 45. So if the price is $100,000, the buyer side would be paid $7,000. The listing side would be getting 4% (7 minus 3) plus $750. $4,750 total. If it was a minimum commission deal (total of $4500), the buyer side would be getting $2,000. The list side would get $2,500 ($4500-2000) plus $750, which is a total of $3250.
  • Line 62 is the amount the broker gets out of the hand money, if the deal terminates and the buyer is the one who breached the contract. You can change that to whatever you want.
  • Line 84 is the amount of commission that the broker of the subagent would collect. A subagent is someone who finds a buyer, but does not have a signed BAC. In PA, if you don't have signed BAC, you legally have a fiduciary duty to the seller. EXP does not recognize subagents, so this is $0.
  • Line 85 is what the buyer's broker gets from the seller paid commission. This is automatically filled in with "3% or $2000, whichever is greater" so that they also have a minimum commission as well.
  • Line 87 is for the transaction licensee. They are someone who is not advising or representing the client, but rather just filling out paperwork for someone. You can leave that at $0.
  • Line 60 is what inclusions are being sold with the property. It can be fridge, stove, washer, dryer, etc. It's helpful to work out with the client what they are leaving, so that it can be included on the listing. 
  • Clients sign on 165 to 168, and the agent has to sign 3 times on lines 169 to 170. License number is needed as well.
Active Listing: 
  1. Agent must ensure all paperwork is signed by everyone needed. This includes spouses, business partners, and anyone on the deed. If they do not sign, we will need a POA or a death certificate before listing is live on the MLS. Original copies of the death certificate or POA are needed at the closing.
  2. Create a new loop using the template to get the correct documents. If you are not sure what to get signed, check the compliance list on the main Resources page. If you are listing a commercial property or something "unusual" be sure to add the correct documents to the loop and get them signed too. Ask the admins what other paperwork is needed.
  3. All documents will be in Dotloop in a new loop titled "123 Main St - LLC/Last Name - Listing" with a folder in that loop called "listing docs". We need to be able to quickly identify the loop and putting only the house number, street name, entity name AND LAST NAME of the main contact, as well labeling it as a listing or a buyer is important. The rule is one loop per transaction. We have flippers who will buy and sell the same property in the same year, so labeling as buyer and seller prevents confusion since those need to be separate transactions. If your listing client is also buying with you, that needs to be two loops since they are two transactions, despite being the same client.
  4. DO NOT ADD ANY OTHER AGENTS TO THE LOOP. DO NOT ASSIGN SPACES FOR THEM TO SIGN EVEN IF THEY HAVE AN OFFER. Only send PDF's to the other side of a deal, not through Dotloop. This can sometimes merge loops AND THIS IS REALLY BAD. We don't want other people to have our client's documents, as well as it being LITERALLY IMPOSSIBLE to tell who owns what paperwork. PDF's are the only form that Dotloop accepts.
  5. Agent will make sure ALL client(s) have signed the paperwork before alerting admins via email that a listing is ready to go. 
  6. Once a key and contact info is available, admins will make sure the property can be shown as soon as possible. If no contact info for ALL owners and tenants is available, admins will not process the listing.
  7. Admin will check over the paperwork, but it's the agent's responsibility to get everything signed. The agent will not get paid until all necessary paperwork is signed, even if it means chasing a client down after closing.
  8. Agent must have a description written (or at least a list of features about the house) for admins. Admins most likely will not have been in the house and will rely on the listing agent to supply info from the seller on improvements such as a new roof, new mechanicals, floor types, counter material, etc. Admins will process listings from there!
  9. Showings will be scheduled through ShowingTime. Buyer's agent's will schedule with ShowingTime directly, so the listing agent doesn't waste time on it. There is no reason that an agent should be directly scheduling with the occupants directly. It is not an efficient use of an agent's time. Our systems exist so you can be doing dollar productive tasks!

Price Reductions:
Admins will keep an eye on showing and check with agent if they feel a price reduction is needed. If agents get price reductions on their listings, they will EMAIL the admins to change it. If it's in a text or verbally said, you run the risk of it not getting done. As a rule of thumb, price reductions should be done if the property is not getting at least 4 showings a month, or if the seller is motivated. A good rule of thumb is 4 showings a week in a seller's market, and 2 showings a week in a buyer's market. No price reductions happen without written consent from the seller. An email or text will count as written. 

Listing Under Contract Procedure:
  1. When an offer is received on a listing, the listing agent should respond immediately to the buyer’s agent to confirm it was received. The listing agent should READ THE CONTRACT and summarize it for the client, including but not limited to: contingencies, closing date, inclusions, exclusions, financing, seller assist, and appraisal.
    1. Please take note of the "Time is of the Essence" clause on page two. If the contract is signed and delivered after that time, it is not a valid contract.
    2. The listing agent legally has to present ALL offers to the seller, along with an updated Estimated Costs sheet breaking down the contract price. It is a RESPA law that you provide an estimated costs sheet before closing, and this carries a HEFTY fine.
    3. A verbal offer counts as an offer. Submit that!
  2. Once a deal is negotiated, the contract is only valid if any and ALL changes have been initialed by all parties (or a whole new contract is written up and signed). The contract should be uploaded into a new folder in the property's loop titled "For Closing" to be sure everything is organized. The execution date (day 1 of the contract) is the date that the last initial/signature was placed on the contract. This is important to note.
  3. The agent will send an email to the admins with the other agent's contact info (and any of their assistants/staff), and let the other agent know to include the admins on any communication moving forward. Keep the admins cc'd on everything so they can prevent mistakes. They can't help you if they don't know what's going on!
  4. Admins will fill out the Key Dates sheet in Dotloop based on the contract. Admins will order the home warranty if one is negotiated and not already ordered. Admins will figure out if dye testing/occupancy inspection is needed as part of municipal requirements and alert seller.
  5. The buyer is to pick the title company, so that info might not be readily available at time of contract. Admins will ask the buyer's agent for contact info if a week has passed by without info on the title company. 
  6. Depending on the contract, there might be contingencies like an appraisal and a home inspection. The agent is responsible for negotiating inspections, filling out a CTA, and getting it signed as those contingencies come to a conclusion. Usually as the listing agent, you won't write the CTA for inspections. If the wording is not how you would like (or too vague), you will then write it. A rule of thumb on who's writing the CTA is whoever's client it is needed for. Inspections are a buyer's need.
  7. Once all the major contingencies are completed, the admin will write a commission statement and greensheet. Agent is responsible for ensuring this is correct information. Admin will do a check of paperwork for compliance and let agent know where it stands.
  8. Once all inspections are completed, the admin will see what title is still missing and see what we can do about scheduling the closing.
  9. Admins and agent will review the ALTA/Closing Docs and make sure it looks okay. This includes the address, the names, price, HOA fees, home warranty, rent, security deposits, commission, and credits. Final water bill, trash bills, unpaid contractor work, are sometimes on there too. Taxes should always be prorated, depending on if the seller has paid them for the year already or not. 
  10. Admins will schedule final walk through of property, and make sure that the agent takes the keys from the lockbox. Admin will touch base with the agent about picking up the lockbox. Options include buyers agent bringing it to closing, agent picking it up after the walk through, and the admin picking it up. Pre-settlement walk through form should be signed before closing. 
  11. Since the admins will not attend closing, the listing agent should let the admin know after everything is signed. Assuming it's closing because it's scheduled is not appropriate. Deals have had to be postponed or terminated AT THE CLOSING TABLE. Admins will not assume it's closed until agent or admin have eyes on a fully executed ALTA/HUD. 
  12. Listing agent should ask that the buyers don't touch the sign or the lockbox so we can take them down. Our sign guy usually picks it up in 5 business days (besides extreme weather conditions). He will not go into garages or sheds to get signs, so they're better off leaving it alone. Similarly, if the lockbox is cut off, the agent will be paying the $200 to replace it. It's the agent's responsibility to get the lockbox, but the admins do it when they can. 
  13. Once agent/admin has a copy of the fully executed documents, admin will close out property on the MLS, order the sign down, ensure final check of paperwork, and unassign lockbox on the MLS.
  14. ​Admin will add client and property to tracking spreadsheet, send thank you note, and add to follow up campaign. ​