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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 [Music] 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 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 [Music]