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July
10
10
70 Plus things we do for our Buyers!
Consultative Activities
1. Conduct a thorough needs assessment to understand your requirements.
2. Explain agency laws and present the buyer representation agreement.
3. Clarify how broker compensation is paid, who pays it, and your options for covering it.
4. Understand your budget and financial needs.
5. Assist you in examining how much you can afford to spend and why.
6. Introduce you to a trusted mortgage loan officer for financial services and/or a second opinion.
7. Connect you with a trusted title services attorney partner.
8. Set you up with accounts on tools and technology needed for a successful home search.
Preparing for the Home Search
9. Explain the general timeline for house hunting, mortgage approval, and closing.
10. Provide insights into local market conditions and how they impact your leverage/position.
11. Discuss list-to-sale price ratios.
12. Review average days on market.
13. Explain the concept of absorption rate.
14. Discuss the month's supply of inventory.
Home Search & Identification
15. Provide best-in-class home search tools and instruction on how to effectively use them.
16. Match your needs with available properties.
17. Partner with you to identify suitable properties for consideration.
18. Continuously re-evaluate your needs and refocus property search & showings to fit those needs.
19. Utilize the funnel process of elimination for an effective and efficient search.
20. Generate off-market opportunities when necessary.
21. Source unlisted homes as needed.
22. Network with other agents to find properties not yet in their local MLS broker marketplaces.
23. Contact homeowners in focus areas to see if they are considering selling.
24. Research FSBOs.
25. Check applicable zoning and building restrictions when appropriate.
26. Help you decipher public property and tax information.
27. Collect and share pertinent data on values, taxes, utility costs, etc.
Educating the Buyer
28. Explain Federal and State Fair Housing laws.
29. Discuss what to look for in applicable property disclosures.
30. Explain fiduciary responsibility and keep all buyer information confidential.
31. Disclose all known material defects in homes when known.
32. Direct you towards reliable third-party sources of information on neighborhoods, crime statistics, schools, etc.
33. Assist you in analyzing the loan estimates and out-of-pocket costs to complete the purchase.
34. Help you account for the complete costs of homeownership.
35. Coordinate with mortgage services to provide insight into how various financing options can be beneficial to an offer.
36. Review the sales contract with you so you are prepared when it comes time to make an offer.
37. Educate you on the momentum, speed, and urgency in the marketplace.
Showing Properties
38. Schedule showings and provide access to all listed properties as soon as they become available.
39. Preview and research properties prior to showing as needed.
40. Arrange tours of areas, source contact info for schools, and key points of interest.
41. Provide resources containing neighborhood information on municipal services, schools, etc.
42. Inform you of possible negative aspects like nearby venues, heavy traffic, busy roads, or operations that may impact quality of life, value, and resale value.
Negotiation
43. Research the seller as thoroughly as possible.
44. Communicate with the listing agent to understand the seller's motivation.
45. Prioritize contract negotiation goals with you.
46. Create and execute an effective negotiating strategy.
47. Understand and utilize creative strategies such as an escalation clause to maintain a competitive offer.
48. Prepare you for negotiation by setting appropriate expectations.
49. Prepare a comparative market analysis (CMA) in advance of making an offer.
50. Assist you in getting the best property at the best price.
51. Explain common contract contingencies and include protective clauses in the purchase offer (risk mitigation).
52. Ensure that you receive and understand all required disclosure forms.
53. Recommend optional contingencies and explain the pros and cons of using them.
54. Utilize experience, local knowledge, expertise, and strong communication skills to assist you in being successful.
Due Diligence/Risk Mitigation
55. Recommend high-quality home inspection and other due diligence service providers (radon, lead paint, mold, etc.).
56. Review and discuss inspection reports to identify concerns.
57. Advocate for you throughout the entire due diligence process.
58. Negotiate repair requests from home inspections.
59. Work with your attorney during the Attorney Review period to make sure your risk is minimized through contract modifications.
Managing The Transaction
60. Ensure you meet all contract deadlines.
61. Coordinate and facilitate communications from all parties involved (lender, appraiser, inspector, listing agent, attorney, etc.).
62. Assist you with the transfer of utilities.
63. Help you locate moving services as needed.
Preparation for Closing
64. Help you prepare for closing day.
65. Explain wire fraud risks and emphasize the importance of following wiring instructions best practices before transferring funds.
66. Schedule the final walkthrough.
67. Accompany you on the walkthrough and advocate as needed if problems arise.
68. Confirm clear-to-close with the lender.
69. Ensure all parties have all forms and information needed to close the sale.
70. Confirm the closing date, time, location, and notify parties if there are changes.
71. Gather all required forms and documents for closing.
72. Review your closing statement to ensure accuracy.
73. Advise you on best practices like rekeying locks and considering a one-time cleaning service or landscaping before moving day.
74. Support you in any final closing preparations and activities.
Post-Closing Services
75. Assist as needed with recommending vendors.
76. Assist as needed with your requests.
77. Set you up on a market report to stay informed of neighborhood sales activity and values.
78. Provide an annual real estate review.
Believe it or not.... There is probably more!
Team Elite Realtors
Vickie Schoenfeld & Julia Corkey
Info@HomesByTeamElite.com
630-286-9777
AWARD WINNING SERVICES
GLOBAL REACH & HOME INSURANCE
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