64 Things I Do as a Buyers Agents

64 Things Buyers Agents Do: (There are More Based on Colorado or Florida) Good Overview

1. Meet or consult over the phone with buyer and gather information on what they’re looking to buy, needs and goals, and plan the property search.
   
   
2. Discuss with buyer how I will represent them as buyer’s agent or transaction broker and provide appropriate disclosures.
   
   
3. Assist buyer in obtaining pre-approval for a mortgage and establish budget.
   
   
4. Special knowledge is required for VA, FHA, CHFA, First-Time Homebuyers, non-conventional financing, non-Qualifying Mortgage for 1099 buyers, and/or business owners—all very different or buyers with assets and show no income.
   
   
5. Determine price range buyers are qualified for.
   
   
6. Request lender letter for loan pre-approval.
   
   
7. Access listing information in MLS for properties that meet buyer’s criteria through our MLS portal.
   
   
8. If buyer is purchasing a condo, confirm on the HUD website what type of financing is allowed (some condo complexes are not approved for FHA financing). This is called non-warrantable and only certain lenders lend on these types of properties.
   
   
9. Set up time to show properties with listing agents through showing service.
   
   
10. Provide showing feedback to listing agents for their sellers.
    
    
11. Keep buyers informed of new properties that come on the market via MLS portal.
    
    
12. Work with the buyer until they find the right home. I’ve worked with buyers for up to two or three years and shown multiple properties until they found the right property. I showed one buyer over a hundred properties before they purchased. I’ve done facetime showings and buyer bought the property. I’ve had buyers I looked at properties while they were out of town & called then and wrote sight unseen and they purchased the property.
    
    
13. Help in determining the correct offer price with MLS property value search and a comparable market analysis (CMA) showing the list and sale prices for similar homes in the area.
    
    
14. Provide information on how long the property has been on the market, if the price has been reduced, and any other relevant information.
    
    
15. Check zoning information.
    
    
16. Determine what items are included in the sale (furniture, hot tub, etc.)
    
    
17. Negotiate personal property outside the real estate contract.
    
    
18. Determine how to draft the seller’s info— joint tenancy, tenancy in common, estate, personal representative, Trusts, etc.
    
    
19. Information on solar lease or ownership, if applicable, or any other items that have long-term financing that stay with the home.
    
    
20. Write the contract, forward to buyer for signatures, and present to listing agent.
    
    
21. Assist in negotiating the offer, any counteroffers, and amendments/extensions to the contract .
    
    
22. Keep the buyer informed of acceptance, rejection, counteroffer, multiple offers, etc. Advise language for Escalation clauses with or with out paying above appraised value.
    
    
23. Upon acceptance, forward the contract to the lender and title company. Forward any amendments during the contract period to lender and title company.
    
    
24. Discuss whether to lock the loan rate.
    
    
25. Facilitate the buyer’s earnest money is delivered to title company by deadline date.
    
    
26. Track that buyers receive all disclosures required by law by deadline date for signature, i.e. Sellers Property Disclosure, Square Footage Disclosure, Closing Instructions, Septic, Well, Radon, Lead-Based Paint, etc.
    
    
27. If property built prior to 1978, verify required Lead-Based Paint Disclosure is provided and signed by all parties by deadline date, and provide Lead-Based Paint informational booklet. Federal law requires this and there is a $10,000 fine if not compliant.
    
    
28. Make sure the title company has the information they require (title companies ensure clear title ownership of the property). Also confirm buyer does not have any recorded judgments.
    
    
29. Review title work upon receiving to ensure there are no claims against the title of the property. Seen many over the years, including mistakes by prior title companies, incorrect name and addresses, legal descriptions, clouds on title and quiet title suits, etc. Some can be bonded around.
    
    
30. Coordinate meeting all Title Insurance requirements. Special requirements for 1031 Exchange documents. Also, special requirements for estates (death) sales.
    
    
31. If investment property, ensure buyer receives copy of the lease and other pertinent documents, estoppel agreements.
    
    
32. Ensure that HOA information, if required, is provided by the deadline date, which includes: Declarations, Bylaws, Rules and Regulations; Party-wall agreements; Minutes of most recent annual owners’ meeting; Minutes of any directors meeting during the six-month period prior to the title deadline; Most recent financial documents including the annual balance sheet, annual income and expenditures statement, and Annual Budget.
    
    
33. Deliver Unrecorded Property Information to Buyer, if required.
    
    
34. Are there any unrecorded easements buyer should be aware of.
    
    
35. Forward HOA objection by deadline date if required.
    
    
36. Provide information on inspection companies and have contractor lists I’ve used for 30 years you can count on.
    
    
37. Facilitate the home inspection appointment with buyer, inspector, and listing agent.
    
    
38. Provide contractor information, such as roofing, sewer, HVAC, septic, well, and repair companies. Years of deals (1,000s of homes sold) so have a good idea ahead of time how it can affect timing and we get bids quickly so we know our numbers.
    
    
39. If property is on a well, check Colorado Division of Water Resources for well no. and information or proper authority. Make sure copy of well flow test and bacteria test is received and reviewed, and if required, copy of report is delivered to lender.
    
    
40. If property is on a septic system, make sure septic report is received and reviewed, and septic is pumped prior to closing. Ensure permit application and transfer documents are completed timely. (This can be a major expense and a timely matter) I’ve had tanks and fields replaced up to $50K.
    
    
41. Prepare buyer’s inspection objection by deadline date.
    
    
42. Work with listing agent, seller, and buyer on resolution process by the deadline date.
    
    
43. Determine whether buyer will want a Home Warranty, and who will pay for it. Can be requested in inspection objection/resolution.
    
    
44. Discuss with buyer whether they or lender will need/require an Improvement Location Certificate (ILC) or Survey to determine lot boundaries. 4 different types
    
    
45. Provide surveyor’s contact information, if required.
    
    
46. Ensure that the lender has engaged the appraiser and they have set an appointment to inspect the property.
    
    
47. Confirm appraisal value is at or above purchase price. If not, provide additional information to appraiser for revision, or draft appraisal objection by deadline date if buyer wants property above contract price.
    
    
48. Confirm insurance has been ordered by buyer. Need rider for closing.
    
    
49. Deal with any CLUE insurance issues.
    
    
50. Create amendments/extensions to contract as needed for signatures by all parties. Forward to lender and title company.
    
    
51. Contact lender weekly to track processing. I had a mortgage license in the past so hard to BS me.
    
    
52. If lender issues arise, transfer the loan to another lender. Knowledge of transfer process essential. I have done this many times in 31+ years with the experience in selling 1000’s of properties.
    
    
53. Coordinate time and place of closing with parties. Cash buyers often can docusign.
    
    
54. Schedule a final walk through with the buyer. Make sure all items/repairs that were agreed to in inspection resolution have been completed.
    
    
55. Ensure that seller has removed all of their personal items, and left the items that were listed in the contract as part of the sale.
    
    
56. If property is on well, prepare well transfer form for closing and transmittal to Colorado Division of Water Resources.
    
    
57. Request and review closing figures from title company and inform buyer of amount to bring to closing, and whether funds will be in the form of cashier’s check or wire.
    
    
58. Make sure buyer has insurance binder for closing.
    
    
59. Preliminary closing documents received and reviewed, and any necessary corrections requested.
    
    
60. For out-of-state or out-of-country sellers or buyers, coordinate getting paperwork completed and signed for closing. We have had Out-of-Country buyers and sellers go to U.S. embassies to get paperwork notarized and signed, or paperwork signed on military bases in foreign countries war zones.
    
    
61. Oversee the closing process.
    
    
62. Ensure that lender has wired loan proceeds to title company for closing.
    
    
63. Explain as needed what the closing documents are.
    
    
64. Make sure buyer has keys for their new home. Determine where post office boxes are and that buyer has keys.