109 Steps: The Transaction Checklist
Why Use a REALTOR®
REALTORS® are your local community experts. Below is a list of over 100 possible steps, procedures, and review stages that your REALTOR® may provide during a successful transaction.
REALTORS® are members of the National Association of REALTORS® and pledge to uphold the stringent, enforceable tenets of the REALTOR® Code of Ethics in their professional dealings with the public.
- Schedule and confirm consultation
- Explain agency relationship and representation agreements
- Review client goals, timeline, budget, and expectations
- Discuss confidentiality, fair housing, and agency duties
- Add client to CRM/database
- Gather preliminary financial/property information
- Explain overall transaction timeline and process
- Research property history, verify ownership, tax records, zoning
- Verify legal description and lot dimensions
- Pull comparable sales and market statistics
- Prepare CMA and pricing strategy
- Assess property condition and curb appeal
- Review HOA information, fees, and governing documents
- Gather utility, septic, well, survey, floor plan, and repair records
- Prepare marketing and listing presentation package
- Discuss seller disclosures and required compliance items
- Recommend repairs, staging, cleaning, and photography
- Present CMA and marketing strategy
- Review listing agreement and required disclosures
- Explain MLS exposure, online marketing, and showing process
- Obtain signatures on listing documents
- Collect keys/access information
- Enter listing into MLS
- Upload photos, disclosures, and supporting documents
- Install signage/lockbox if applicable
- Launch marketing campaign and automated alerts
- Coordinate showings and open houses
- Screen buyer inquiries and verify qualifications
- Collect and communicate showing feedback
- Update seller on market activity and strategy adjustments
- Monitor online performance and MLS accuracy
- Track competing listings and market changes
- Receive and organize offers
- Verify buyer pre-approval/pre-qualification
- Prepare net sheet comparisons
- Review contingencies, financing, timelines, and terms
- Negotiate price, repairs, concessions, and closing terms
- Prepare counteroffers/amendments
- Execute final contract
- Deliver signed contract to all parties
- Track the receipt of earnest money deposit
- Update MLS status to pending
- Deliver documents to lender, attorney, title company, and broker
- Track contingency deadlines and contractual obligations
- Coordinate communication among all parties
- Monitor financing progress and underwriting status
- Schedule inspections (home, septic, termite, mold, roof, environmental, etc.)
- Review inspection reports with client
- Negotiate repair requests or credits
- Coordinate contractors and repair completion
- Verify receipts/invoices for completed work
- Ensure contingency deadlines are met
- Coordinate appraisal appointment
- Provide comps/supporting documents to appraiser
- Monitor appraisal status and value issues
- Track lender conditions and loan approval
- Confirm clear-to-close status
- Assist with financing issues or renegotiation if needed
- Confirm closing date, location, and participants
- Review settlement statement/closing disclosure
- Verify prorations, HOA dues, taxes, rents, and utilities
- Coordinate wire instructions and fraud prevention reminders
- Confirm homeowner warranty or insurance requirements
- Arrange final walkthrough
- Ensure all signatures and documents are complete
- Attend or coordinate closing
- Review final documents with client
- Confirm funding and recording
- Deliver keys, codes, garage remotes, and access items
- Confirm possession terms
- Update MLS status to sold
- Disburse commissions and close brokerage file
- Confirm utility transfers and move-in/out completion
- Request testimonial/review/referrals
- Add client to long-term follow-up and marketing system
- Maintain transaction records for compliance
- Discuss buyer goals, timeline, and must-haves
- Explain agency relationship and buyer representation agreement
- Connect buyer with lenders and explain financing options
- Review affordability and estimated closing costs
- Educate buyer on market conditions and competition
- Set up MLS/property search alerts
- Identify and schedule suitable properties
- Research neighborhoods, zoning, taxes, utilities, and schools
- Preview/off-market property sourcing if needed
- Compare homes against buyer criteria
- Narrow selections and identify target properties
- Prepare CMA and offer strategy
- Explain contingencies and contract terms
- Draft and submit purchase offer
- Negotiate price, terms, repairs, and concessions
- Prepare buyer for multiple-offer scenarios
- Execute contract and deliver escrow deposit
- Coordinate inspections, appraisal, financing, and title work
- Review disclosures and inspection reports
- Negotiate repairs or credits
- Track contract deadlines
- Schedule final walkthrough
- Review settlement statement and title commitment
- Confirm funding and clear-to-close
- Attend closing and deliver keys
- Short sale or foreclosure coordination
- Property management or tenant coordination
- Seller financing documentation
- Relocation assistance/referrals
- Rental property prorations/deposit transfers
- Vacant property registration/compliance
- Probate, trust, or estate documentation
- New construction coordination
