Standard Operating Procedure (SOP): Real Estate Listing Agent
Effective Date: [Insert Date]
Department: Selling Department
Prepared By: [Your Name / Company Name]
Last Updated: [Insert Date]
1. Purpose
This SOP outlines the responsibilities, workflow, and commission structure for Listing Agents handling property listings for Regular Rentals, Rent-to-Own (RTO), and Bond-for-Deed (BFD) transactions.
2. Scope
Applies to all agents responsible for securing, marketing, and managing property listings on behalf of property owners.
3. Roles & Responsibilities of listing agent
- Secure property listings and establish agreements with Pelican Realty Brokerage LLC- Prepare and publish accurate property listings with complete details and professional images.
- Handle inquiries, showings, and coordinate with prospective tenants/buyers.
Background check, collec
- Submit applications and required documents for approval.
- Contract:
Regular rental: Agent Finalize leases or contracts and ensure all move-in requirements are met.
Rent to Own: VA will prepare the lease and explain to the agent and the buyer/tenant
Bond for Deed: Agent will explain it to the buyer. The escrow service company will prepare the document.
4. Commission Structure
| Deal Type | Listing Agent Commission |
|---|---|
| Regular Rental | 60% of First Month’s Rent and 1% sale price |
| Rent-to-Own (RTO) | 1 Month Rent and 1% sale price |
| Bond for Deed (BFD) | 5% of Sale Price (3% to the selling agent) |
Note: Commissions are payable only after all move-in payments and required documents are completed.
5. Listing Process Workflow
- Property Intake - Gather property details, photos, and confirm listing agreement with owner.
- Marketing Preparation - Create listings for MLS, social media, and internal platforms.
- Lead Management - Respond to inquiries promptly and schedule property showings.
- Application Handling - Collect and review applications; forward qualified ones to Pelican Realty Brokerage LLC for approval.
Collecting the deposit and first month fee and deposit to chase bank
5. Deal Completion - Assist in signing lease or sales contracts.
6. Documentation Requirements
- Signed Listing Agreement
- Property Photos (Professional)
- Lease or Sales Contract
- Tenant/Buyer Application Form
- Proof of Payment (Rent, Deposit, Down Payment)
7. Listing Agent Selection Criteria
Full-time agent only — no part-timers (Non-negotiable)
Must have listed at least 3 properties in the past 1000 days (Non-negotiable)
Average days on market for lease listings should be less than 30 days (Non-negotiable)
Must use professional property photos in her/his previous listings (Non-negotiable)
Ask if they have any vacation plans within the next 30 days
No more than 5 active listings (for sale + for lease combined). Fewer than 4 is ideal.
Office location is within 15 miles of the property location.
If the agent does not meet at least three (3) of the above non-negotiable criteria, they will not be hired.
8. Compliance
All agents must be easy to collaborate and willing to adapt our company policies, fair housing laws, and ethical practices. Maintain accuracy and professionalism in all communications and listings.