Do you need a buyer’s agent checklist? There are so many things that need to happen between the time you meet a new buyer and the time you close the deal. And smart agents know there are also tasks to be completed after the close.
To help you keep track of all these tasks, we have the Ultimate Buyer’s Agent Checklist for you!
We’re dividing our buyer’s agent checklist into 5 parts:
- The early phase
- House-hunting
- Making the offer
- Contract-to-Close
- Post-Close
By the way, if you’d like a one-page version of this buyer’s agent checklist that you can use for your transactions, simply enter your contact info in the box below, and we’ll email you a link to our handy one-pager.
Early-Phase Buyer’s Agent Checklist
Here are four items to complete even before you start showing homes.
🗹 Ask if your prospective buyers have a home they’ll need to sell.
Too many agents miss out on listings by failing to ask this question!
🗹 Provide a digital Buyer’s Guide to your prospective buyers.
Your buyer’s guide should outline the buying process and give information on things like:
- how to get pre-approved for a mortgage loan,
- what to pay special attention to during the house hunt,
- and what to expect during escrow.
You may even want to promote this guide on your website as a lead magnet. You can either create the guide yourself or purchase an inexpensive template from Etsy.
🗹 Get your clients pre-approved.
Most buyers (especially first-time buyers) are surprised to learn that the pre-approval should come before the house-hunt begins. You should explain the process at your very first meeting. A good way to approach the subject is first to ask if your buyers have been pre-approved. If they have not, ask “Has anyone taken the time to explain why you should get pre-approved even before looking at homes?” Then you can explain and get them started on the pre-approval.
🗹 Get your clients to commit via the Buyer Representation Agreement
Every agent approaches the Buyer Representation Agreement in his or her own way. Some agents aren’t comfortable asking for the exclusivity commitment at the first meeting. But the earlier you can get your buyers to commit to you, the better protected you’ll be.
House Hunt Checklist
Here are just a few tasks to help the house-hunt process go a bit more smoothly.
🗹 Get the prospective buyer’s details, including their search criteria.
You can ask for this information in a conversation or you can give your clients a simple questionnaire to complete (create the questionnaire yourself or purchase one online).
🗹 Help your clients keep track as they see multiple homes.
There are a few different methods for helping your buyers focus as they look at homes. You can:
- give them a form to compare homes and take notes as they tour,
- encourage cell phone photos of each place as visual reminders, or
- get a clear front-runner after each showing so there’s only one home that stands out at the end of the day.
Buyer’s Agent Checklist for Making an Offer
Here are five tasks to complete when your buyers are ready to make an offer.
🗹 Let the listing agent know an offer is coming.
Reaching out to give a heads-up to the listing agent is just good etiquette.
🗹 Review MLS report for instructions on submitting offers.
To increase your chances of getting your client’s offer accepted, follow the instructions on the MLS for submitting the offer.
🗹 Complete a quick CMA.
Make sure your buyers are offering a competitive but fair amount by pulling comps and running a quick Comparative Market Analysis of the property.
🗹 Draft the offer documents:
- The purchase agreement,
- An agency relationship disclosure, and
- All locally-required disclosures and additional forms.
- Don’t forget to include the pre-approval letter from the lender.
🗹 Provide instructions for buyer to wire earnest money deposit
Make sure your buyer gets their earnest money wired timely.
Buyer’s Agent Checklist: Contract-to-Close
Once you’re under contract, the tasks come hard and fast! Here’s your contract-to-close buyer’s agent checklist.
🗹 Open escrow.
Submit the signed contract to the escrow company and get the process started.
🗹 Schedule the home inspection(s).
In addition to the standard home inspection, your buyers may want to order special inspections for things like termites and fireplaces.
🗹 Order any surveys if needed.
You may or may not need the land surveyed, but now is the time to order the survey if you do.
🗹 Order the appraisal.
Sometimes agents will order the appraisal, but sometimes the lenders will do it themselves. Either way, make sure the appraisal is ordered.
🗹 Order the title search.
Title searches can take a little time, particularly if issues arise. So order the title search early.
🗹 Confirm the status of the loan funding.
Stay in close contact with the lender through escrow to make sure there are no issues with the loan funding.
🗹 Review the inspection with buyers.
Prepare your buyers for the many issues uncovered by inspections and assure them that they have options. Many buyers panic when they see their first inspection and see how much is “wrong” with the home. Remind them that most of the issues won’t even need to be addressed. Then work with them through any renegotiation that needs to take place following the inspection.
🗹 Have the buyers arrange homeowner’s insurance.
The lenders will need the homeowner’s insurance policy information to fund the loan.
🗹 Have the buyers review the settlement statement.
You want to give your buyers a few days to review the settlement statement and ask any questions before they have to sign the closing docs.
🗹 Schedule the final walkthrough.
Let your buyers get a last look at the property before closing to make sure the condition hasn’t changed through the escrow period.
🗹 Remind the buyers to transfer utilities to the new home.
It’s a good idea to give your buyers a list of utility providers and their contact information.
🗹 Confirm clear-to-close with the lender.
Getting close now!
🗹 Attend the closing if necessary.
Depending on your state, you may or may not need to attend a formal closing.
🗹 Give your buyers their keys.
Try to make the key transfer special, especially if you don’t physically attend a closing. Maybe put the keys on a personalized keychain (with their names, not yours – they’ll remember who it’s from and will think of you more fondly if it’s not a blatant marketing tool). Or maybe bring a bottle of champagne with you for the buyers.
🗹 Collect your commission.
And celebrate another successful close!
Post-Close Checklist
Of course your work as a buyer’s agent isn’t done just because the deal is closed. Here are five final tasks on your buyer’s agent checklist to make sure your clients are well cared for after the sale. This is where you build your repeat and referral business!
🗹 Give a thoughtful closing gift.
While some agents are trying to get away from closing gifts, they’re actually missing a golden opportunity to leave a lasting impression on their clients. Check out our list of affordable, but impressive, closing gifts.
🗹 Ask for an online review.
Online reviews are everything! Ask your clients to take a few minutes to leave a review on Google, Zillow®, Facebook, or wherever your prospects are most likely to find you online. Ask if you can use their review in your marketing materials. This will allow you to publish the testimonials on your website, social media accounts, and brochures.
You could even ask to get a photo or two of the clients signing their closing docs, getting their keys, or standing in front of their new home for your marketing materials.
🗹 Follow up after 3 days to see if your buyers have questions.
Show your commitment to your buyers after the sale by checking in on them a few days after the close.
🗹 Ask for referrals.
Now is also the time to ask for referrals, while the deal is still fresh in your buyer’s mind. Call or text your request to increase response rates.
🗹 Add to your ongoing client base marketing campaigns.
When your new buyers are ready to sell in five, 10, or 15 years, you want to be their go-to. So staying in touch is critical. Add your buyers to your marketing campaigns for your ongoing clients. This might include a monthly newsletter, social media ad campaigns, and annual housiversary cards.
