How:  72 tasks performed by a buyer’s agent

Initial Contact

1. Generate buyer leads

2. Meet with buyer/s to determine home buying criteria

3. Get to know the buyer on a personal level

4. Ensure they reach out to a reputable loan officer

5. Provide list of recommended loan officers

6. Confirm that buyers are pre-qualified for a mortgage loan

7. Determine buyer’s timeline for purchasing

8. Determine communication style & availability of buyer’s

   Showings & pre-purchase

9. Look for properties that fit the buyer’s specifications

10. Send options to buyer’s

11. Schedule showings

12. Answer initial questions from buyer’s about each home

13. Encourage buyers to be an active part of this process

14. Give pep-talks as needed; Keep buyers engaged and feeling good about the process

    The Offer and the Contract

15. Evaluate comparables of property buyer’s have chosen

16. Counsel buyers on the best strategy for writing a compelling offer

17. Determine contract dates

18. Gather documentation to include with offer; lender letter, proof of funds, etc.

19. Write Offer-to-Purchase contracts, ensure all buyers have signed

20. Submitted purchase contract to listing agent & summarizing clients offer

21. Contact sellers to review buyer’s qualifications and discuss offer

22. Review accepted contract from sellers agent

23. Inform buyers about the status of their offer and the step-by-step process moving forward

24. Receive seller disclosures from sellers agent

25. Receive & review sellers title report & plat map and deliver to buyer for review

26. Send copies of contract and all addendums to title company

27. Open escrow at buyer’s title company

28. Prepare and convey any counteroffers or addendums to original buyer’s offer

29. Deliver copies of fully signed contract to buyers

30. Deliver copies of contract to lender

31. Provide copies of contract for office file

32. Coordinate with lender on discount points being locked in with dates

33. Record and promptly receive earnest money deposit from buyers & deposited into escrow account

34. Inform sellers agent of the receipt of earnest money

    Tracking the Loan Process

35. Confirm with lender the return of verifications and other necessary documents

36. Follow loan processing through to the underwriter

37. Adhere to fixing any conditions of the loan process

38. Contact lender weekly to ensure processing is on track

39. Relay final approval of buyer’s loan application to seller 

    Home Inspection

40. Suggest reputable home inspection companies & coordinate scheduling

41. Coordinate buyer’s professional home inspection with buyer & seller

42. Review home inspector’s report

43. Ensure seller’s compliance with home inspection clause requirements

44. Assist buyer with identifying and negotiating with trustworthy contracts for pre-closing repairs

45. Follow up with seller about negotiate repair requests

46. Or negotiate seller concessions on contract in lieu of repairs

    The Appraisal

47. Schedule appraisal

48. Provide comparable sales used in market pricing to appraiser if necessary

49. Follow up on appraisal & valuation

50. Assist buyer in understanding the appraisal and the negotiation should the appraisal come in low

    Closing Preparations and Duties

51. Schedule final walk through of the property for buyers prior to closing

52. Make sure contract is signed by all parties

53. Coordinate closing process with listing agent and lender

54. Update closing forms and files

55. Ensure all parties have all forms and information needed to close the sale

56. Select location for closing

57. Confirm closing date and time and notify all parties

58. Solve any title problems (boundary disputes, easements, etc) or in obtaining death certificates

59. Research all tax, HOA, utility and other applicable proration’s

60. Request final closing figures from closing agent

61. Receive and carefully review closing figures to ensure accuracy

62. Confirm the buyer and buyer’s agent received title insurance commitment

63. Provide home warranty company options at closing

64. Review all closing documents carefully for errors

65. Review documents with title

66. Provide earnest money deposit from escrow account to title

67. Have a “no surprises” closing so that seller receives a net proceeds check at closing

68. Notify buyers that the transaction has closed and they are officially the owners of a new home 

    Follow-up After Closing

69. Coordinate possession with buyers and sellers

70. Pickup and deliver keys to buyers as required

71. Answer questions about filing claims with Home Owner Warranty Company, if requested

72. Respond to any follow-up calls and provide any additional information required from office files

Now you know what a buyer’s agent does…consider asking your potential buyer’s agent some of these questions to evaluate their experience and expertise and to make sure you are good fit to go through this process together:

• How long have you been a real estate agent?

• What’s your schedule and availability?

• How many clients are you currently working with?

• Do you have any areas you specialize in?

• How well do you know the neighborhood I’m looking to buy in?

• What are some of your negotiation tactics?