California Star Properties * Selling a Home

Selling A Home

Selling a Home

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California Star Properties, Inc. is a California State licensed Brokerage firm compensated on a commission basis based on "fee for service."

Selling Investment Property? Read This!

The following are the methods of listing properties in California:

EXCLUSIVE AGENCY LISTING A listing agreement employing a broker as the sole agent for the Seller of real property under the terms of which the broker is entitled to a commission if the property is sold through any other broker, but not if a sale is negotiated by the owner without the services of an agent.

EXCLUSIVE RIGHT TO SELL A LISTING A listing agreement employing the broker to act as agent for the seller of real property under the terms of which the broker is entitled to a commission if the property is sold during the duration of the listing through another broker or by owner without the services of an agent.

OPEN LISTING An authorization given by a property owner to a real estate agent wherein said agent is given the non-exclusive right to secure a purchaser; open listings may be given to any number of agents without liability to compensate any except the one who first secures a buyer ready, willing, and able to meet the terms of the listing, or secures the acceptance by the seller of a satisfactory offer.

California Star Properties, Inc. offers three basic "EXCLUSIVE RIGHT TO SELL LISTING" service plans. Each offers the seller differing levels of service to meet their particular needs. The following list of services are to be provided under the different service plans.

Service description:		Full Service	Reduced Service	Economy Service
1.	Agent to obtain a copy of all loans, payment coupons, liens, and judgments from Seller and review them. Agent to fill out the Listing Agreement for the Sellers' signatures.
2.	Agent to assist the Seller to fill out the Non-MLS Disclosure Form.
3.	Agent to assist the Seller to fill out the MLS Property Description Data Input Form.
4.	Agent to assist the Seller to fill out the TDS-14 form, Transfer Disclosure.
5.	Agent to assist the Seller to fill out the Lead Based Paint Disclosure form.
6.	Agent to assist the Seller to fill out the Geo/Hazardous Waste Disclosure form.
7.	Agent to assist the Seller to fill out the Supplemental Property Disclosure form.
8.	Agent to assist the Seller to fill out the Water Heater and Smoke Detector Compliance form.
9.	Agent to open Escrow, order Preliminary Title Report, provide the Title Insurance Firm with copies of Notes, Liens, and Judgments.
10.	Agent to call and order inspections:
	Termite
	Roof
	Property
	J.C.P. Geo/Hazardous Waste Materials Report
	J.C.P. Flood/Earthquake Report
	Pool and Spa Inspection
	PG & E Inspection
11.	Agent to attend the inspections appointments:
	Termite
	Roof
	Property
	Pool and Spa
	PG & E
12.	Agent to counsel Seller to complete the required work and obtain clearances or decide to disclose and change Listing to "As Is."
13.	Discuss painting interior and exterior with the Agent ordering bids.
14.	Agent to meet with painters (3 bids)
15.	Agent to present painting bids to Sellers for decisions.
16.	Agent to determine condition of the property vs. comparable sales to finalize a sales price. Competitive Market Analysis / make flyers.
17.	Agent to place home on the MLS database.
18.	Agent to install a Lock Box.
19.	Agent to order the installation of Real Estate Sign Post.
20.	Agent to install signs and riders on post.
21.	Agent to attend five local marketing meetings 8 am to 9:30 am, Monday through Friday to present home.
22.	Agent to place home on Broker's Tour
23.	Agent to hold home open from 1 to 4 pm Saturday and Sunday with 1 hr. to put out Open House signs and 1 hr. to pickup signs.
24.	Agent to sell the home (negotiate the contract)
25.	Agent to handle Counter Offers
26.	Agent to make the Disclosure Presentation
27.	Agent to meet Lender's Appraiser at home.
28.	Agent to deliver documents to Escrow.
29.	Agent to meet Buyer's inspectors at home for further inspections.
30.	Agents to review new reports and make recommendations to Sellers.
31.	Agent to help Sellers schedule work called for by various reports and provide contractors with access to home.
32.	Agent to monitor all sales contract deadlines including Buyer's conditions and performance.
33.	Agent to attend the Buyer's Walk Through.
34.	Agent to coordinate the completion of any remaining items.
35.	Agent to attend the Seller's sign-off at Escrow.
36.	Agent to deliver Seller's papers to them after Escrow closes.
37.	Agent delivers keys and garage door openers to Escrow for Buyers to have access to home.
38.	Agent to congratulate all on close of Escrow.

The very important issue is that in 98% of all sale transactions and all 38 tasks need to happen in order for the home to sell and close escrow. If you choose to perform some of the tasks yourself it is probably "OK at best" as it means that you have to do each task with the same standard and care as does a licensed agent. Where it gets very touchy is that when a Realtor discounts the commission rate they are still held accountable to make sure that all of these tasks happen and within the time frames needed to fulfill the terms of the contract. This means that the Seller has potential liability to be responsible for their actions. In most cases the Errors and Omissions Insurance may not accept the claim to legally defend the legal case as the Seller is not their insured client. Sellers should really weigh the liability vs. the estimated cost savings. However, that is not why you should retain a Broker. Read the section on: "Why hire a Broker for both loans as well as real estate."

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