When Interviewing a Realtor to sell a Probate or Trust Property - Here are a Few Things to Look For:

1)      Written Comparative Market Analysis (CMA).

2)      Customized marketing strategy specific to the property.

3)      Advertising Contract – Spelling out specifically where and when the property will be advertised.

4)      A NO DUAL AGENCY DECLARATION signed by the listing agent.  This can be modified so that offers from other agents within the office of the listing agent could be accepted.  But not from the listing agent.

5)      Evidence of Errors and Omission Insurance, (E & O).

6)      A written statement in the listing agreement, that any work on the subject property that is ordered or contracted by the listing agent shall be performed by individuals that show evidence of Workmen’s Compensation Coverage. 

7)      Recommendations for upgrades, cleaning, repairs and landscaping to maximize the properties potential.

8)      Determine the intervals for agent feedback to executor/trustee or attorney regarding pricing adjustments, showing activity and property condition.

9)      Listing agent has a good understanding of the workings of a probate sale and the overbid process on a sale that requires court confirmation, the notice requirements for a sale under the Independent Administration of Estate Act, or a sale by a successor trustee. 

10)  Suggest to the agent that a structural pest control inspection be completed on the property and the report posted online with the MLS (multiple listing service) listing. The agent should also complete the required agents physical inspection and post it online as well.  If someone died in the house within the last 3 years, it must be disclosed to the buyer, (this is often not disclosed properly by the agent).