Real Estate Buyer’s Agent Checklist

by | Feb 23, 2022 | Uncategorized

Become better organized with a real estate buyer’s agent checklist. Set up a system to make sure you never forget or miss a beat when helping a buyer find the ideal home.

KEY TAKEAWAYS

  • Learn where to download Free online buyer checklists.
  • Learn where to download Free online real estate transaction tools and buyer management software.
  • Besides downloading templates and checklists or software tools, learn the most important items to include in your buyer checklist.

 

A while back, we published a blog post titled: Real Estate Listing Checklist. It covered online free listing checklists, listing management tools, and tips on creating your own checklist.

You can always download free buyer checklists such as:

 

Or. spend money on real estate transaction tools and buyer management software like:

  • Reesio which is a CRM (Contract Relationship Management) tool;
  • RealtyJuggler is a software handling all aspects of buyers’ transactions including documents management and tracking the buying process; or
  • Augmented Reality, virtual reality tools let buyers see interiors and exteriors in diverse ways and furnishings. It’s like taking a real-life tour.

 

What a Real Estate Buyer’s Agent Checklist Needs

 

No matter if you download a free buyer’s agent checklist or purchase buyer management and transaction tool, they need to include these items:

 

Your Buyer’s Guide

 

A digital buyer’s guide outlining the buying process educates your prospective buyers on what to expect like:

  • How getting a pre-approved mortgage letter gives your buyer an advantage over other buyers;
  • What to look for during the new home hunt; and
  • What to expect during the escrow closing process?

 

Loan Pre-Qualification

 

Your buyer must first become pre-qualified for a mortgage loan. Forget the free online mortgage calculators that indicate what a buyer may qualify for. That’s because every buyer has unique situations which determine qualification or not.

Only a direct lender (like a bank) or an experienced mortgage broker knows what to ask to qualify every potential buyer.

This is why you must line up bank loan officers and mortgage brokers to contact your buyers. Let the experts pre-qualify your buyers and explain to you why or why not your specific buyer qualifies and for how much.

Once your buyer gets a pre-approval loan letter from a bank or mortgage broker you are ready for the next step.

 

Signed Buyer’s Agent Agreement

 

After your buyer gets pre-approved, it’s time to get a buyer’s agent agreement signed. This protects your commission and details the buyer’s commitment to you.

 

Know What Your Buyer Wants

 

Your checklist needs to include all the desires, wants, and needs of your buyer. Besides the usual number of bedrooms/baths, onsite vehicle parking, and a swimming pool, what else is important? Things to consider include:

  • Architecture style like a Tudor, rambler, classical, or modern look;
  • Backyard amenities like tennis court, BBQ, fire pit, kids’ playground, pet-proof fencing, etc.;
  • Smart home hi-tech features;
  • Gourmet kitchen;
  • Children’s playroom; and
  • Room to expand as the family grows.

 

Luckily, our Big Block Realtors can access the unique RealScout program which allows us to input the unique wants and needs of our buyers into the local MLS database to quickly find listings that match them.

Learn about how our RealScout program helps our buyer’s agents by viewing:

How RealScout Makes Our San Diego Real Estate Agents Better

 

Location, Location, Location

 

Local buyers usually know the neighborhoods and request the top areas they would like to move to. Yet, out-of-towners looking to relocate won’t know anything about the many neighborhoods to choose from.

Your buyer’s agent checklist must include questions to ask about these important things:

Lifestyle – Are your buyers retired and looking for peace and quiet? Or, are they young with energy wanting to go out dining and dancing?

Schools – Depending upon their children’s ages, living close to suitable schools makes life easier to commute to schools. Where are the best kindergartens, grade schools, high schools, or colleges?

Work – Long commutes to work and back are a hassle and waste valuable time. Living close enough to walk or bike to work is a luxury. Easy and fast public transportation to work and back saves from paying for gas and parking. A short drive to work beats traffic delays.

Shopping – It’s a necessity and usually not pleasurable. Living close to shopping for necessities saves time.

Restaurants – Even retired people enjoy eating out away from their quiet peaceful homes. Asking your buyers about their favorite foods leads to convenience. For example, San Diego’s Little Italy district appeals to pasta lovers and Italian gourmet fanatics.

 

Touring Homes

 

Once you know what locations appeal to your buyers along with the size of the home and yard finding the best homes to tour becomes essential.

Virtual tours became popular during the COVID pandemic. Yet, as restrictions ease and homes open up for previews and open house events, getting our buyer inside an ideal listing beats a virtual tour.

Our RealScout program makes it easy to set up preview appointments for you and your buyers. Once RealScout identifies the best listings fitting your buyer’s list of desired features it can contact the listing agent for an appointment. Its preview calendar makes it easy and fast for the seller (or listing agent), buyer, and yourself to agree on a day and time.

Learn about it by viewing our post: RealScout Comes to San Diego to Help Home Buyers

 

Help Your Buyers Keep Track After Touring Homes

 

Buyers lose track and get confused after touring many homes. You can help them by:

  • Giving them a form to compare homes with space to take notes;
  • Encouraging taking cell phone photos of each home to remember them; and
  • Create a clear front-runner after each tour so only one stands out every day.

 

Presenting Offers

 

After finding the best location, a home fitting your buyer’s needs, and within your buyer’s budget; you are ready to make an offer.

Your Market Analysis (CMA) determines the price you suggest your buyer make.

Contact the listing agent that your buyer will make an offer.

Prepare the offer documents including:

  • The purchase agreement;
  • All agency and locally required disclosure forms; and
  • Include the buyer’s pre-approval loan letter.

After making the initial offer and negotiating the price and terms acceptable to your buyer and the seller you are ready to write the contract.

Your buyer checklist should include the types of contingencies and terms your buyer needs. Also, instructions for wiring the earnest money (if a check is not presented) promptly. 

 

After Contract Acceptance

 

You (or the listing agent) must open escrow with the signed purchase agreement to get the process started.

You need to explain to your buyer not to make any purchases that will affect the credit score. No new car or expensive holidays or other costly purchases. No straining the credit cards.

The home inspection shouldn’t depend on when the lender’s inspector shows up. If possible, it’s worth paying an ASHI-certified home inspector to inspect before making the offer. If the seller agrees, the buyer pays a few hundred dollars to identify defects and repairs, and maintenance issues before the offer.

Also, if the house is in good shape that’s good to know before making the offer too. Finding out about defects and problems after the signed contract means a wasted time when other qualified homes could be bought.

 

Mortgage Application and Process

 

Your buyer’s agent checklist must include all the steps during the mortgage process. Explaining the types of questions and documents the lender will ask and want makes the application process easier.

You must explain the mortgage process, home inspection, and the importance of keeping the credit score stable for your buyer.

Review the lender’s home inspection report with your buyer. Explain their options of defects or other problems that appear. Work with them if re-negotiating with the seller is necessary.

Get your buyer to arrange homeowner’s insurance.

 

Closing Process

 

Keeping your buyer informed about the closing process, approvals, inspections, insurance, and the settlement along with deadlines makes the process smoother.

Your buyer needs to review the settlement statement and ask questions before signing the closing documents.

 

Final Walk-Through Inspection

 

Done before the final settlement this confirms the property remains in the same condition required by the contract. Missing fixtures, broken appliances, or systems must be resolved before closing.

 

Post-Settlement

 

Time to congratulate your buyer with a nice gift. Remember, gifts up to $25 are tax-deductible. Yet, if you just scored a large commission no need to be cheap. Your buyer will appreciate it.

Ask your buyer for an online review and testimonial. It’s the best time to make this request since your buyer is happy. You can go further and ask for a couple of photos and a video of you giving them the house keys or standing in front of their new home. Post the photos and video on your website.

Ask your buyer for referrals as they may know someone needing the same excellent care with selling or finding a new home.

Include the buyer in your future client-based marketing campaigns.

 

Real Estate Buyer’s Agent Checklist – Conclusion

 

Your real estate buyer’s agent checklist for Realtors working with buyers can be found by:

  • Learning where to download Free online buyer checklists;
  • Learning where to download Free online real estate transaction tools and buyer management software; and
  • Besides downloading templates and checklists or software tools, learn the most important items to include in your buyer checklist.

 

Want to Help Buyers in San Diego County?

 

Big Block Realtors take advantage of the RealScout program for buyers by including all the buyer’s desired features into the San Diego MLS search to quickly find matching homes for sale. It gives us a huge advantage over brokerages not using the RealScout program.

Read how our RealScout program helps San Diego buyers find their dream homes at an affordable price. RealScout helps our buyers to quickly find listed homes matching their desired features. It even makes setting up home preview appointments easier. Read these two blog posts:

Join Us as a Realtor in San Diego County

 

Big Block Realty has 985 Realtors making us one of the largest non-franchise brokerages in the country.

Why did so many Realtors join us? It’s because our 100% Commission Plans are transparent with no hidden fees and priced with three different plans making it easy and profitable to join. View our 100% Commission Plans.

Join Us along with over 985 other San Diego area Realtors.

We also include Free:

 

 

Steven Rich, MBA – Guest Blogger

 

 

HAVE ANY QUESTIONS?

Let us know, we love to help:

Call: (800) 550 – 3209

or Click: https://100commissionrealestate.com/contact

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