80 Ways We Work With Buyers: Tailored Strategies for a Seamless Homebuying Experience
Looking to buy a home in California? The Badger Real Estate Group has got you covered!
Our guide ’80 Ways of Worth for a Real Estate Buyer’ offers insider tips, strategies, and expert advice to navigate the Bay Area, Central Valley, and Los Angeles County markets.
Working with Buyers
Building a Relationship
1 Inform the buyer of working relationship options based on state law, the REALTOR® Code of Ethics, MLS requirements and the broker’s business policies
2 Learn buyer’s wants and non-negotiable needs
3 Understand buyer’s budget and financial concerns
4 Provide quality lender resources
5 Match buyer’s needs with available property
6 Explain how compensation is paid, who pays it and what buyer’s options are
7 Explain federal and state fair housing laws
8 Explain what to look for in applicable property disclosures
9 Inform buyer that you will always disclose all known material defects
10 After ensuring buyer understands what is done for them, how it is done, and the benefit to them, obtain signatures on the buyer representation agreement
11 Reassure buyer that personal information will remain confidential
12 In accordance with state law, provide information on checking the sex-offender registry and crime statistics for the neighborhood
13 Educate buyer about executing a buyer representation agreement
14 Reiterate working relationship based on state law, the REALTOR® Code of Ethics, and the broker’s business policies
15 Discuss available resources that buyer can check to learn more about prospective neighborhoods
Preparing the Buyer
16 Explain timeline for house hunting, mortgage approval and closing
17 Explain local market and how it impacts the buyer
18 Show statistics on what percentage of list price sellers in the area are currently receiving
19 Inform buyer of what home features are popular
20 Identify current average days on market
21 Share dangers of using price-per-square-foot to determine home values
22 Explain the concept of absorption rate and how it impacts the buying process
23 Indicate current listing months of market inventory
24 Share estimated potential out-of-pocket costs to complete the transaction
25 Assist buyer in analyzing the loan estimates
26 Verify buyer’s ability to purchase by ensuring they’ve prequalified
27 Help buyer account for the complete costs of homeownership
28 Prepare lender for listing agent calls
29 Help buyer select for viewing only those homes that fit their needs
30 Review sample sales contract so buyer is prepared when it comes time to make an offer
Showing Properties
31 Schedule showings and provide access to all MLS-listed properties
32 Educate buyer on the immediacy of new listings appear in MLS and the lag time for them to appear on some websites
33 Collaborate with buyer on properties they may have learned about through their sphere of contacts
34 Research and assist on all unlisted properties the buyer wishes to see
35 Preview properties prior to showing if needed
36 Network with other agents to source properties not yet in MLS
37 Contact homeowners in focus areas to see if they are considering selling
38 Set up automated email alert system through MLS that notifies buyer of potential properties
39 Arrange tour of targeted market areas
40 Provide resources containing neighborhood information on municipal services, schools and other local services
41 Inform buyer of aspects such as nearby venues or operations that may result in issues that could impact value
42 Check applicable zoning and building restrictions
43 Help buyer decipher public property and tax information
44 Collect and share pertinent data on values, taxes, utility costs and other carrying costs
45 Help buyer identify top choices
Negotiating Offers
46 Prepare buyer to have the most attractive offer in the current marketplace
47 Prepare a comparative market analysis in advance of making an offer
48 Use hyperlocal expertise and strong communication skills to help bring the most successful offer
49 Explain common contract contingencies, and include approved protective clauses in the purchase offer
50 Ensure buyer receives and understands all state- and federally required disclosure forms
51 Prioritize contract negotiation goals with buyer
52 Prepare buyer for multiple-offer situation
53 Write offer that has a reasonable chance of being accepted
54 When approved by buyer, use strategies such as an escalation clause to maintain a competitive offer
55 Recommend optional contingencies and explain the pros and cons of using them
56 Negotiate buyer’s offers to arrive at the best price and terms
Facilitating Close
57 Provide options for home inspector, title company, appraiser and mortgage lender
58 Review and discuss home inspection concerns, and negotiate repair requests
59 Guide buyer on meeting all contract deadlines
60 Advise buyer to review the settlement statement
61 Inform buyer of need to transfer utilities to the new residence
62 Schedule final walkthrough and accompany buyer
63 Ensure appraisal has been ordered and notify buyer of date
64 Assist buyer in reviewing appraisal report
65 If appraisal report affects financing, discuss the possibility of requesting a reconsideration of value
66 Confirm clear-to-close with lender
67 Ensure all parties have all forms and information needed to close the sale
68 Confirm the closing location, date and time
69 Explain flood and title insurance to buyer
70 Order any surveys needed
71 Order title search
72 Confirm status of loan funding
73 Check addendums and alterations for agreed terms
74 Review buyer’s closing statement to ensure accuracy
75 Explain wire fraud risks and remind clients to verify all wiring instructions before transferring funds
76 Double-check property tax, homeowner association dues, utility and applicable prorations, if relevant
77 Request final closing figures from closing agent
78 Carefully review closing figures to ensure accuracy
79 Receive and carefully review title insurance commitment with buyer
80 Advise buyer on re-keying locks or installing smart locks
81 Help buyer consider a one-time cleaning service or landscaping before moving day
82 Review documents with closing agent
83 Support buyer in final closing activities
Let us help you find your dream home and make the best investment choices!
