105 Reasons REALTORS® are Worth Every Penny

Counseling Session Activities

1. Prepare the buyer for executing a buyer representation agreement
   
   

2. Explain agency relationships to the buyer and get state required legal consent to represent, if needed
   
   

3. Inform the buyer of working relationship based on state law, the REALTORS® Code of Ethics, and the broker’s business policies
   
   

Building a Relationship

4. Learn the buyer’s wants and non-negotiable needs
   
   

5. Understand the buyer’s budget and what will be needed financially
   
   

6. Help the buyer understand what property their chosen budget will buy
   
   

7. Consider having the buyer fill out a homebuyer’s checklist
   
   

8. Assist the buyer in examining how much they can afford to spend
   
   

9. Provide quality lender resources
   
   

10. Partner with the buyer to locate suitable properties for consideration
    
    

11. Match the buyer’s needs with available property
    
    

12. Constantly re-evaluate buyer’s needs and refocus property showings to fit those needs
    
    

13. After ensuring the buyer understands what is done for them, how it is done, and the benefit to them, obtain signatures on the buyer representation agreement
    
    

14. Explain how compensation is paid, who pays it, and what the buyer’s options are for paying it
    
    

Educating the Buyer

15. Communicate the working relationship based on state law, the REALTORS® Code of Ethics, and the broker’s business policies
    
    

16. Explain Federal and State Fair Housing laws
    
    

17. Explain what to look for in applicable property disclosures
    
    

18. Reassure the buyer that their personal information will remain confidential
    
    

19. Inform the buyer that you will always disclose all known material defects
    
    

20. In accordance with state law, provide information on checking the sex-offender registry and crime statistics for the neighborhood
    
    

21. Discuss available resources that the buyer can check to learn more about prospective neighborhood
    
    

Preparing the Buyer

22. Explain the timeline for house hunting, mortgage approval, and closing
    
    

23. Explain the local market and how it impacts the buyer
    
    

24. Show statistics on what percentage of list price sellers in the area are currently receiving
    
    

25. Inform the buyer on what home features are popular
    
    

26. Identify current average days on market
    
    

27. Share the dangers of using the price per square foot to figure home values
    
    

28. Explain the concept of absorption rate and how it impacts the buying process
    
    

29. Indicate current listing months of market inventory
    
    

30. Share estimated potential out-of-pocket costs to complete the transaction
    
    

31. Assist the buyer in analyzing the loan estimates
    
    

32. Qualify the buyer for financial ability to purchase
    
    

33. Help the buyer account for the complete costs of homeownership
    
    

34. Prepare lender for listing agent calls
    
    

35. Assist in comparing different financing options
    
    

36. Help the buyer select for viewing only those homes that fit their needs
    
    

37. Proceed in showing homes that fit the buyer’s must-haves
    
    

38. Caution the buyer on posting information to social media
    
    

39. Review the sample sales contract so the buyer is prepared when it comes time to make an offer
    
    

Showing Properties

40. Schedule showings and provide access to all listed properties as soon as they become available in their local MLS broker marketplaces
    
    

41. Educate the buyer on the immediacy of new listings appearing in their local MLS broker marketplaces and the lag time for them to appear on some websites
    
    

42. Collaborate with the buyer on properties they may have learned about through their sphere contacts
    
    

43. Research and assist on all unlisted properties the buyer wishes to see
    
    

44. Preview properties prior to showing if needed
    
    

45. Network with other agents to source properties not yet in their local MLS broker marketplaces
    
    

46. Contact homeowners in focus areas to see if they are considering selling
    
    

47. Set up an automated email alert system through their local MLS broker marketplaces that immediately notifies the buyer of properties that fit discussed requirements
    
    

48. Arrange a tour of areas, schools, and key points of interest
    
    

49. Provide resources containing neighborhood information on municipal services, schools, etc.
    
    

50. Inform the buyer of negative aspects like nearby venues or operations that may result in issues that could impact value
    
    

51. Collect and share any other vital information on available homes, remembering to follow all fair housing laws at all times
    
    

52. Check applicable zoning and building restrictions
    
    

53. Help the buyer decipher public property and tax information
    
    

54. Collect and share pertinent data on values, taxes, utility costs, etc.
    
    

55. Compare each property shown to the buyer’s wants and needs list and remind them of what they were looking for
    
    

56. Help the buyer narrow the search until the buyer identifies top choices

Negotiating Offers

57. Assist the buyer in getting the best property at the best price

58. Suggest that the buyer learn more about the neighborhood prior to making an offer
    
    

59. Prepare a comparative market analysis (CMA) in advance of making an offer
    
    

60. Prepare the buyer to have the most attractive offer in the current marketplace
    
    

61. Explain common contract contingencies and include approved protective clauses in the purchase offer
    
    

62. Ensure that the buyer receives and understands all state and federally-required disclosure forms
    
    

63. Prioritize contract negotiation goals with the buyer
    
    

64. Help create a negotiating strategy
    
    

65. Use strategies such as an escalation clause to maintain a competitive offer
    
    

66. Prepare the buyer for a multiple offer situation and develop negotiation strategies
    
    

67. Write an offer that has a reasonable chance of being accepted
    
    

68. Recommend optional contingencies and explain the pros and cons of using them
    
    

69. Provide information on purchasing incentives that may be available
    
    

70. Discuss financing alternatives
    
    

71. Negotiate the buyer’s offers to arrive at the best price and terms
    
    

72. Utilize hyperlocal expertise and strong communication skills to assist the buyer in being the successful offer
    
    

Advocating for the Buyer and Facilitating the Close

73. Advocate for the buyer throughout the entire process
    
    

74. Encourage the buyer to fully investigate their options in terms of a home inspector, title company, appraiser, mortgage lender, and other services
    
    

75. Present a list of the types of required and optional inspections such as environmental, roofing, and mold
    
    

76. Review and discuss home inspection concerns
    
    

77. Negotiate repair requests from home inspection
    
    

78. Guide the buyer on meeting all contract deadlines
    
    

79. Assist in coordinating communications
    
    

80. Advise the buyer to review the settlement statement
    
    

81. Inform clients that they need to transfer utilities to the new residence
    
    

82. Schedule final walkthrough
    
    

83. Accompany the buyer on the walkthrough
    
    

84. Assist the buyer in questioning the appraisal report if it affects the financing
    
    

85. Confirm clear-to-close with the lender
    
    

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

87. Remind the buyer of the location where the closing will be held
    
    

88. Confirm the closing date and time, and notify parties if there are changes
    
    

89. Gather all required forms and documents for closing
    
    

90. Explain flood insurance to the buyer
    
    

91. Explain title insurance to the buyer and refer to qualified insurance broker
    
    

92. Order any surveys needed
    
    

93. Order the appraisal
    
    

94. Order the title search
    
    

95. Confirm the status of the loan funding
    
    

96. Check addendums and alterations for agreed terms
    
    

97. Review the buyer’s closing statement to ensure accuracy
    
    

98. Explain wire fraud risks and remind clients to verify all wiring instructions before transferring funds
    
    

99. Double-check all tax, homeowners’ association dues, utility, and applicable prorations, if relevant
    
    

100. Request final closing figures from the closing agent (often an attorney or title company)
     
     

101. Receive and carefully review closing figures to ensure accuracy
     
     

102. Receive and carefully review title insurance commitment with the buyer
     
     

103. Advise the buyer to re-key their locks and to consider a one-time cleaning service or landscaping before moving day
     
     

104. Review documents with the closing agent (attorney)
     
     

105. Support the buyer in any final closing activities