WHAT DOES A BUYERS AGENT AND SELLERS AGENT DO FOR ME, THE CONSUMER?
How I Can Help You Buy a Home
Whether it’s your first home or if you’re an experienced buyer, purchasing a home is a complex process.
By working with me, I will protect your interest and ensure we get to the closing table. I will stay up at night so you dont have to.
As your Buyer's Agent, I will perform the following tasks as part of our agreement:
Initial Counseling
- Complete the pre-appointment questionnaire via telephone.
- Provide access to MLS portal.
- Discuss lender pre-approval vs. pre-qualification.
- Provide a list of recommended lenders.
- In-person meeting to:
- Review the Transaction Guide
- Discuss Agency and Broker Compensation
- Discuss timing, earnest money, and influencing parties
- Discuss Wants and Needs
- Develop a plan
- Establish Schedule
- Confirm Showings
- Obtain a copy of the Lender’s Pre-Approval Letter or Source of Funds
- Show and evaluate homes viewed. Provide Home review Forms.
- Obtain a written agency contract.
- Continue to refine the search until the right home is found or reassessment is required.
- Communicate with the Listing Agent regarding availability and instructions beyond what shows in the MLS.
- Complete a quick CMA. The Buyer(s) should understand the market for their selected home.
- Draft the Contract Offer and complete any disclosures if possible.
- Review the offer with the Buyer(s) and obtain signatures and Earnest Money.
- Deliver the Offer along with Disclosures, Lender Letter, and Earnest Money.
- Negotiate details with the Listing Agent, discuss the Offer status with the Buyer, and respond to any Counter Proposal.
- Review and explain any Seller Provided Disclosures.
- Deal or (if no deal then return to 6 above)
- Complete the necessary forms and forward them to broker or Transaction Coordinator
- The Transaction Coordinator will forward the Contract to the Lender, confirm Escrow is opened and Title Insurance is ordered.
- Confirm with the Lender as to status and appraisal is ordered if needed.
- Complete any communications with the Cast of Characters.
- Schedule Home Inspection with Buyers(s), Inspector and Listing Broker.
- Ask the Buyer(s) to arrange for Home Owners Insurance.
- Attend the Inspection and receive the report from the Inspector. Do not discuss the report with the inspector. Meet to discuss the report with the Buyers(s) away from the Inspector.
- Determine the Buyers(s) desire regarding inspection issues, prepare an Inspection Objection Form, and deliver it to the Listing Agent.
- Negotiate Inspection Objections and complete Contract Amendment to memorialize Inspection issues agreement.
- Review all “Due Diligence” items
- Monitor the status of closing continually and communicate twice weekly with the Buyer(s).
- Coordinate any Post-Closing Agreement with the Seller and/or Seller Agent.
- Obtain Clear to Close from the Lender.
- Review and explain closing documents prior to closing.
- Accompany Buyers(s) on a pre-closing walk through.
- Remind Buyer(s) to transfer utilities.
- Attend closing with you.
- Remind the Buyer(s) to complete the QSC survey when received.
Selling Tips
How I Can Help You Sell a Home
Helping find a buyer for your home is only one facet of a real estate professional’s job.
As your realtor, I will perform the following tasks as part of our agreement:
Research
- Complete the Pre-Appointment questionnaire via telephone.
- Determine acceptable sold and on-market properties for comparative analysis.
- Gather property history in public records to include tax, deed, and ownership, legal and public record data, zoning, and plat information.
- Complete and review the Title Insurance Agent’s Ownership and Encumbrance report.
- Determine property curb appeal.
- Ascertain school attendance zones.
- Review data for use in property market analysis.
- Select the most reasonable properties, call listing agents to check for activity on current listings and confirm sales data on closed properties.
- Prepare the Preliminary Comparative Market Analysis (CMA).
- Review the Listing appointments checklist before and after the client visit.
- Determine local market conditions for the subject property.
- Forward the Pre-listing package to the client.
- Meet with Client(s) and tour property. Take appropriate notes and “reminder” pictures.
- Review the Pre-listing package with the client(s).
- Present the CMA and property history. Discuss refinements based on the property review and determine a market price.
- Provide a specific marketing plan for the property.
- Provide an appropriate estimate of Seller Proceeds based on payoffs and public information.
- Discuss staging.
- Discuss possible financing alternatives and the effect on the seller’s proceeds and timing.
- Review any recent appraisal and other unknown issues.
- Discuss state Agency law and Buyer Agency Co-op if any.
- Discuss disclosures for LBP, wire fraud, and fair housing.
- Discuss Home Warranty and obtain agreement.
- Review the Listing Contract and obtain the agreement with the client(s).
- Measure the property or discuss professional measurement.
- Check lot lines
- Obtain house plans and any other marketing information from the client(s).
- Verify HOA information, documents, and contacts. Place lockbox on property.
- Obtain utility information and contacts.
- Explain the “showings” process.
- Confirm utility expenses, water usage, and well and ditch information.
- Verify any security system, alarm, and solar leases. Obtain documents and contacts.
- Prepare a detailed list of inclusions, exclusions, and best marketing features.
- Compile a list of recent repairs and maintenance items.
- Arrance for the installation of a yard sign and verify with the HOA.
- Arrange for professional photos and video if agreed.
- Prepare entry forms for MLS and discuss syndication
- Review entry data for accuracy.
- Provide you with the MLS entry for your review.
- Create advertising as necessary.
- Inform office and personal database of new listing.
- Prepare fliers and Special Feature Cards.
- Complete and deliver brochures to the listing.
- Send “just listed” cards to the agent-client base and neighborhood.
- Review the “new-listing” check sheet for completeness.
- Review showing feedback and comparable pricing weekly and communicate current information to the client(s).
- Communicate with showing agents for commentary and feedback ASAP after the showing.
- Maintain communication at least weekly or more often as agreed or necessary.
- Receive and review all offers from buyer’s agents. Determine technical issues to be countered and approximate net to Seller from any and all offers.
- Create emails/ spreadsheets for easy comparison of multiple offers.
- Speak with the Buyer’s agent and buyer’s lender to assist in determining the viability of the offer. Make sure the Pre-approval letter or proof of funds is accurate.
- Meet with the Sellers to explain offers and negotiable weaknesses and construct Counter offers if necessary.
- Provide the Buyer’s agent with necessary disclosures on all offers to be accepted or countered.
- Discuss and complete final negotiations with the Buyer’s agent.
- Contract executed. We have a deal!
- Coordinate with the Transaction Manager on accepted offers, if applicable.
- Speak with the Cast of Characters to start and confirm the contract.
- Order Title Insurance Commitment.
- Check with the Home Owners Association (HOA) to deliver the necessary documents.
- Securely distribute contract copies to the Title Agent and Lender.
- Follow Up on Buyers Earnest Money to be deposited as required by contract.
- Update MLS status and all other marketing venues.
- Complete initial follow-ups as necessary to launch the closing process.
- Review Title Insurance commitment when received to check for any issues that may affect the closing or Seller’s expectations.
- Review and deliver any unrecorded documents to the Buyer’s agent as required by the contract.
- Review HOA documents for unexpected issues.
- Order septic and well checks if necessary. Determine any impacts on closing and resolve as necessary.
- Deliver results to the Buyer’s agent.
- Coordinate with all parties to schedule the home inspection.
- Respond to the Buyer’s Inspection Objection notice if any, discuss it with the Seller, and negotiate a settlement with the Buyer’s agent.
- Assist the Seller in coordinating any needed vendor estimates of work required to satisfy the Inspection resolution.
- Work with the transaction coordinator, if applicable to determine loan status and resolve any title insurance issues.
- Review any final completion dates and resolve issues.
- Schedule appraisal if required.
- Prepare comparable, 1001 document, and contract package for appraisal.
- Meet the appraiser and deliver the appraisal package.
- Review the file with the Broker or Transaction Coordinator for completeness and resolve any missing form or signature issues.
- Schedule closing and location with all parties.
- Coordinate the next closing when Sellers become Buyers.
- Confirm any post-closing occupancy issues with the Seller.
- Check that utilities have been or will be transferred as appropriate.
- Schedule the final walk-through with the Buyer’s agent.
- Receive and review the Closing Settlement forms and deed for accuracy.
- Determine how the Seller wishes to receive their net proceeds and coordinate.
- Confirm delivery of Home Warranty if supplied.
- Obtain forwarding address and information for our CRM system.
- Inform the Seller that they will receive a customer satisfaction survey and to please complete it.