Humber Real Estate - Course 2, Module 12, Listing and Marketing Properties

Humber Real Estate - Course 2, Module 12, Listing and Marketing Properties - Data sheet (accompanies the listing authority) - Warranty information for anything that has a transferable warranty - Municipal Property Assessment Corporation (MPAC) assessment - Verification of home owner's insurance - Statements and contracts for any rental equipment items - Supportive documents for any home improvements (for example, receipt for a new roof, Building Permit, if seller claimed that the new deck is done with permit) - Copy of municipal tax bill - Copy of a survey that they seller may have in their possession - Copy of a lease if the property is leased - Deed to help verify ownership - What documents are required to list a seller's property? - Verification of property ownership - Any major capital improvements to the property, the date they were completed and supporting documents - List of chattels included and fixtures excluded (document rental items and term details) - Major repairs on septic and well systems - Utility costs for the year - Survey - if available - Easements or encroachments - What items are listed on The Property Checklist? The local listing service database. - After filling out a data sheet for a new listing, where is the document uploaded to? - Legal description and confirmation of owners (via a deed or survey) - Lot size (via a survey, property tax bill - not all municipalities - or GeoWarehouse report) - Age of principal structure(s) (via seller, original owner, builder or sometimes municipality records i.e. a building permit and/or a GeoWarehouse report) NOTE: *If age is unknown or approx. age is indicated only, you as a salesperson must clearly identify this fact in the listing or any marketing. - Living area of principal structure(s) (take your own measurements or use verified source documents such as a floor plan or GeoWarehouse reports) - Room sizes - Assessment/taxes - Zoning - Wiring - Plumbing - HVAC (heating, ventilation and air conditioning) - Chattles/fixtures - Rental equipment - What information is included in a listing Data Sheet? Frontage and depth - If a lot is rectangular, what details are required when listing the lot size? Full dimensions - If a lot is irregular, what details are required when listing the lot size? Dimensions and/or exact acreage. - If a lot is a larger tract of land, what details are required when listing lot size? No. - Do you include a garage if it is attached when measuring total living area? No. In some areas, just a range in area is provided. - Is including square footage for a listing always mandatory? False. It's not mandatory. - True or false? It is mandatory in all areas to list the source when the square footage is a requirement on a data sheet. False. This is beyond the expertise of a salesperson and is not generally a mandatory field on a residential data sheet. - True or false? When detailing an electrical system on a data sheet, the determination of the system capacity is mandatory. 15 - Heating and air conditioning systems older than ____ years are more likely to become increasingly unreliable and may need to be replaced. Limited service listing - A listing which takes advantage of an a la carte / fee-based commission structure is also called a _______ ________ _________. A second rate of commission identified in the listing agreement, which would take effect under certain circumstances. - What is a 'Collateral Agreement'? - If there is no co-operating brokerage involved in the transaction and the listing brokerage sells the property to a buyer, this provides for a reduction in the commission paid. - If the seller is selling their home privately and has an interested buyer. The seller then decides to list the property and signs a representation agreement but requests to have the potential buyer excluded from the agreement.