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#124058 - 01/20/07 10:02 PM Listing Procedure Office Admin
AgentXYZ Offline
Member

Registered: 01/20/07
Posts: 10
Loc: California
Wondered if someone could tell me at high level what the office/admin process flow is/should be when a listing agreement is signed by a seller and taken by one of my agents. Starting a brokerage and would like to know what procedures I should follow.

The agent arrives at the office with the signed listing contract, what happens then? I've thought of a few milestones, but

-- Copies of the listing agreement and other disclosures signed get made and sent to the seller?
-- Lockbox is put on the seller's door. Who pays for this lockbox? Does the agent buy their own lockbox or does the brokerage own it? (I'm thinking it's keyed to the MLS system, so does the MLS lease these?)
-- A file gets created for the transaction/seller and a copy of the listing agreement is placed in the seller's folder and date/time stamped?
-- Listing paperwork is reviewed by the broker?
-- Since the broker owns the listing, the listing paperwork is kept in a common secure area of the brokerage, not with the agent?
-- Broker reviews/audits the paperwork?
-- Listing gets entered into the MLS system by the agent? Or by the broker? (Assuming the owner agrees to the MLS listing.)
-- Broker announces listing to other agents in the office? How is this done--at a meeting? Email? Intranet?
-- Broker puts the listing in the company's window?
-- Listing gets advertised. Does the broker pay for this or the agent or both? Is it usually the broker's expense when the brokerage is advertising its listings and agent when the agent is promoting him/herself with the property?
-- Sign goes up on seller's property. Ok, big stupid questions on this one. Who pays for the signs? Agent or broker? On the traditional wooden post signs, how are they installed? And where do you get the wooden posts--is this just from a sign company? How is sign inventory controlled at the brokerage? Where are the signs stored?

Anything else?

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#124059 - 01/21/07 12:24 PM Re: Listing Procedure Office Admin
Devil's Advocate Offline
Veteran Member

Registered: 01/03/05
Posts: 538
Loc: Ontario, Canada
WHOA Agent XYZ: It appears that what you are looking for is a whole A to Z course in the administration of a real estate office and for someone to take the time and trouble of educating you, which is a tall order and not something done in this venue.

But, for a brief start consider the following:

Employment Contracts: The variations in employment contracts are endless and you are advised to learn what is "standard" and generally acceptable to the agents in your area.

Procedure Manual: Containing checklists and step-by-step procedures to be followed in relation to the matter at hand and a TO-DO list of What is to be done by Whom and When it was actually done.

Chronology File: For each client, noting all details of conversations, disclosures made and acknowledged, telephone calls, letters, documents, E-mails, etc. from initial contact giving you a complete picture about what has been said or done todate and by whom and what has yet to be done and by whom, until you have fulfilled the obligation of your retainer and the file is closed.

The broker and agent have up-to-date computer access to everything transpiring on the file and when the file is closed the broker prints out a computer copy for himself and the agent, but retains all the original’s for his own file.

If you do not currently have file management software on your computer, there is a simple method for setting up your files, without one.

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#124060 - 01/21/07 03:01 PM Re: Listing Procedure Office Admin
Troy Richardson Offline
Member

Registered: 05/31/06
Posts: 402
Loc: Bennington, Vermont
Haven't there been many books written on this topic?

Search Amazon for "real estate brokerage management" and you get over 50 results.

I'd start there.
_________________________
Troy Richardson
The Richardson Group
RE/MAX Maple Leaf Realty - Commercial Division
Bennington, Vermont 05201
Bennington VT Commercial Real Estate

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