I. Explain the benefits of a buyer-broker agreement to clients.
2. Determine the approximate price range for which buyer can qualify.
3. Describe the services that lenders and loan brokers perform.
4. Explain the benefits and drawbacks of various types of home financing.
5. Explain loan fees and their relationship to interest rates.
6. Provide ideas for alternative methods of finance for purchase.
7. Explain the use and benefit of a lender pre-qualification letter.
8. Explain the use and benefit of a lender pre-approval letter.
9. Provide a list of several lenders or loan brokers.
10. Review clients’ financial and personal plans as they relate to real estate.
11. Make sure clients are buying a home that meets their needs.
12. Provide clients with an “agency disclosure statement.”
13. Explain the agency disclosure statement.
14. Assist in developing a prioritized list of home selection criteria.
15. Keep track of those criteria when analyzing various properties.
16. Inform clients of possible tax benefits in purchasing real estate.
17. Explain some of the drawbacks of real estate ownership.
18. Explain how the structure of the clients’ purchase can affect them financially.
19. Help determine the most advantageous time to make an offer.
20. Help determine the most advantageous time to close the escrow.
21. Provide a sample copy of the purchase agreement for clients to study.
22. Provide a list of appropriate neighborhoods in the clients’ price range.
23. Provide rating data about local schools.
24. Provide locations and characteristics of shopping areas.
25. Provide information about local and regional transportation systems.
26. Share information about recreational facilities.
27. Explain sports facilities and programs that exist locally.
28. Provide information on various churches and religious institutions.
29. Give facts and resources on any native aspect of the local area.
30. Explain how the Realtor® multiple listing service (MLS) works.
31. Search the MLS for appropriate properties.
32. Examine local newspapers for appropriate homes.
33. Check real estate magazines for properties that meet the client’s parameters.
34. Review a personal list of homes that might be available.
35. Check for-sale-by-owner properties that may suit the clients’ needs.
36. Contact owners of property to arrange to show homes to clients.
37. Share personal knowledge about local history, weather, political activity, or other factors that may affect the clients’ purchasing decision.
38. Explain real estate terminology used throughout the home buying process.
39. Discuss the benefits and drawbacks of various styles of homes.
40. Discuss the pros and cons of various building materials.
41. Describe how the orientation of the home affects its comfort.
42. Show clients how to add value to a home that may not be perfect, but has most of the features they require.
43. Act as a ‘sounding board” in the clients’ decision-making process.
44. Provide information about the seller’s motivation for selling.
45. Provide a ‘comparative market analysis’ to determine appropriate offering price that will best meet the clients’ needs and protect their interests.
46. Explain the significance of various clauses in the purchase agreement.
47. Explain the lender’s appraisal process
48. Make sure that the events and conditions agreed upon in the contract can be realistically performed within lime limits provided.
49. Provide a written estimate of the costs to close the escrow, including down payment and the monthly payment under the terms of the clients’.
50. Explain how offers to purchase property are presented.
51. Make an appointment to present the offer that meets everyone’s schedule.
52. Present the offer to the seller in a professional manner.
53. Add credibility to the clients’ offer by confirming their ability to perform under the terms of the agreement.
54. Negotiate the areas of objection with the seller.
55. Explain the possibility of multiple offers in the clients’ purchase.
56. Structure the clients’ offer for maximum impact in multiple-offer situations.
57. Respond to seller objections with minor modifications that allow the seller to accept while not significantly altering the clients’ position.
56. Recalculate costs and monthly payments in the event of a counteroffer from the seller.
59. Verify all representations by the seller.
60. Help remove negotiating obstacles before they arise by knowing the financing in escrow process.
61. Provide a list of reputable companies for home inspection.
62. Provide a list of reputable companies for pool inspection.
63. Provide a list of reputable companies for pest control inspection.
64. Provide a list of respected well inspectors and testing companies, when appropriate.
65. Provide a list of respected septic inspectors, when appropriate.
66 Provide a list of reputable companies for chimney inspection.
67. Provide a list of reputable companies for roof inspection.
68. If requested, provide a list of reputable companies for environmental inspection.
69 If requested, provide a list of reputable companies for lead inspection.
70 Make arrangements for the various inspections, as required.
71 Be present if possible when inspections are conducted, to add clarity to written reports.
72 Help interpret which report items are relatively minor and which require further clarification.
73 Assist in finding the least costly solutions to problems in reports.
74. Renegotiate with seller to pay for items that are important or a matter of health and safety.
75 Arrange as requested to have another expert give an opinion in cases where experts express differing opinions.
76. Arrange for repairs as necessary.
77. Provide a transfer disclosure statement from the seller.
78 Rewrite the contract as needed.
79. Provide seismic hazard report, as applicable.
80. Provide flood zone information, as applicable.
81. Provide smoke detector information, as applicable.
82. Provide Foreign Investment in Real Property Tax Act disclosure to seller.
83. Give the buyer a choice of title or escrow company.
84. Open escrow.
85. Deposit earnest money.
46. Review terms, price, and projected closing date with escrow officer.
87. Inform the escrow officer about all parties to the transaction and how to contact them.
88 Provide the officer with the information needed to order payoff demand from existing lender.
89. Order a preliminary title report.
90. Explain title insurance and any exceptions to it.
91. Review preliminary title report for any "clouds on title,” unforeseen liens, casements, or encroachments that could delay closing.
92. Explain any covenants, conditions, or restrictions, as appropriate.
93. Make sure that pending sale has been reported to MLS.
94, Closely follow deadlines listed in the contract, as errors in timing can nullify the agreement.
95. Work with lender to provide information and approvals, as stipulated.
96. Provide weekly updates on escrow progress to buyer.
97. Arrange for buyer to inspect the property again, as needed.
98. Explain the protections offered by a home warranty plan.
99. Order a home warranty plan, as requested.
100. Explain home owner’s insurance requirements.
101. Assist in arranging for home owner’s insurance, as requested.
102. Provide a list of reputable moving companies, as requested.
103. Provide a list of the telephone numbers for the local utility, water, garbage, and cable companies.
104. Arrange for a smooth transfer of utility service from seller to buyer.
105. Help buyers locate temporary housing, as needed.
106. Assist buyers in locating reliable child care, as requested.
107. Coordinate the move out by seller and move in by buyer.
108. Negotiate for buyers if the escrow process takes longer than expected.
109. Negotiate an interim occupancy agreement, as required.
110. Draw up a rental agreement if seller needs to stay after close of escrow.
111. Conduct a final “walk-through” inspection of the property to assure that nothing significant has changed since the purchase agreement was signed.
112. Make arrangements to rectify any problems discovered during walk-through.
113. Provide written explanation of the various ways to hold title to real property.
114 Provide the names of at least three attorneys who can explain the income tax and estate tax ramifications of holding title.
115. Review the closing documents for accuracy.
116. Explain closing papers to buyer.
117. Arrange for wire transfer of funds, as necessary.
118. Deliver closing documents to buyer.
119. Deliver any final refund check to buyer.
120. At all times, protect the buyer’s interests.