110 REASONS TO WORK
WITH THE THOMSEN TEAM
110 REASONS TO WORK WITH THE THOMSEN TEAM
Here's a look at all the things big and small that an agent on the Thomsen Team does to help clients when Buying a home.
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 home buyer'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 neighborhoods
22. Provide the buyer with information about lead based paint
PREPARING THE BUYER
23. Explain the timeline for house hunting, mortgage approval, and closing
24. Explain the local market and how it impacts the buyer
25. Show statistics on what percentage of list price sellers in the area are currently
receiving
26. Inform the buyer on what home features are popular
27. Identify current average days on market
28. Share the dangers of using the price per square foot to figure home values
29. Explain the concept of absorption rate and how it impacts the buying process
PREPARING THE BUYER (Continued)
30. Indicate current listing months of market inventory
31. Share estimated potential out-of-pocket costs to complete the transaction
32. Assist the buyer in analyzing the loan estimates
33. Qualify the buyer for financial ability to purchase
34. Help the buyer account for the complete costs of homeownership
35. Prepare lender for listing agent calls
36. Assist in comparing different financing options
37. Help the buyer select for viewing only those homes that fit their needs
38. Proceed in showing homes that fit the buyer's must-haves
39. Caution the buyer on posting information to social media
40. Review a sample sales contract so the buyer is prepared when it comes time to make an offer
SHOWING PROPERTIES
41. Schedule showings and provide access to all listed properties as soon as they become available in their local MLS
42. Educate the buyer on the immediacy of new listings appearing in their local
MLS and the lag time for them to appear on some websites
43. Collaborate with the buyer on properties they may have learned about through their sphere contacts
44. Research and assist on all unlisted properties the buyer wishes to see
45. Preview properties prior to showing if needed
SHOWING PROPERTIES (Continued)
46. Network with other agents to source properties not yet in the local MLS
47. Contact homeowners in focus areas to see if they are considering selling
48. Set up an automated email alert & portal through the local MLS that immediately notifies the buyer of properties that fit discussed requirements
49. Suggest the buyer drives through neighborhoods of interest
50. Arrange a tour of areas, schools, and key points of interest
51. Provide resources containing neighborhood information on municipal services, schools, etc.
52. Inform the buyer of negative aspects like nearby venues or operations that may result in issues that could impact value
53. Collect and share any other vital information on available homes, remembering to follow all fair housing laws at all times
54. Check applicable zoning and building restrictions
55. Help the buyer decipher public property and tax information
56. Collect and share pertinent data on values, taxes, utility costs, etc.
57. Compare each property shown to the buyer's wants and needs list and remind them of what they were looking for
58. Help the buver narrow the search until the buyer identifies top choices
NEGOTIATING OFFERS
59. Assist the buyer in getting the best property at the best price
60. Suggest that the buyer learn more about the neighborhood prior to making an offer
61. Prepare a comparative market analysis (CMA) in advance of making an offer
62. Prepare the buyer to have the most attractive offer in the current marketplace
63. Explain common contract contingencies and include approved protective clauses in the offer to purchase
64. Ensure that the buyer receives and understands all state and federally required disclosure forms
65. Prioritize contract negotiation goals with the buyer
66. Help create a negotiating strategy
67. Use strategies such as an escalation clause to maintain a competitive offer
68. Prepare the buyer for a multiple-offer situation and develop negotiation strategies
69. Write an offer that has a reasonable chance of being accepted
70. Recommend optional contingencies and explain the pros and cons of using them
71. Provide information on purchasing incentives that may be available
72. Discuss financing alternatives
73. Negotiate the buyer's offers to arrive at the best price and terms
74. Utilize hyperlocal expertise and strong communication skills to assist
the buyer in being the successful offer
ADVOCATING FOR THE BUYER AND FACILITATING THE CLOSING:
75. Deliver copies of Offer to Purchase contract to lender
76. Contact the lender to ensure processing is on track
77. Record contract deadlines and reminders in tracking spreadsheet
78. Guide the buyer on meeting all contract deadlines
79. Provide weekly updates on progress and deadlines
80. Advocate for the buyer throughout the entire process
81. Encourage the buyer to fully investigate their options in terms of a home inspector, title company, appraiser, mortgage lender, and other services
82. Present a list of the types of optional inspections such as environmental, roofing, and mold
83. Review and discuss home inspection concerns
84. Negotiate repair requests from home inspection
85. Assist in coordinating communications
86. Advise the buyer to review the settlement statement
87. Inform clients that they need to transfer utilities to the new residence
88. Schedule final walkthrough
89. Accompany the buyer on the walkthrough
90. Assist the buyer in questioning the appraisal report if it affects the financing
91. Confirm clear-to-close with the lender
92. Ensure all parties have all forms and information needed to close the sale
ADVOCATING FOR THE BUYER AND FACILITATING THE CLOSING:
98. Remind the buyer of the location where the closingwill be hela(Continued)
94. Confirm the closing date and time, and notify parties if there are changes
95. Gather all required forms and documents for closing
96. Explain flood insurance to the buyer
97. Explain title insurance to the buyer
98. Order any surveys needed
99. Coordinate the appraisal
100. Review the title search
101. Confirm the status of the loan funding
102. Check addendums and alterations for agreed terms
103. Review the buyer's closing statement to ensure accuracy
104. Explain wire fraud risks and remind clients to verify all wiring instructions before transferring funds
105. Double-check all tax, homeowners' association dues, utility, and applicable
prorations, if relevant
106. Request final closing figures from the closing agent (often an attorney or title
company)
107. Receive and carefully review closing figures to ensure accuracy
108. Advise the buyer to re-key their locks
109. Review documents with the closing agent (attorney)
110. Support the buyer in any final closing activities
Benefits on why Buy a House Now
Investment Benefits:
You build equity over time, which you take in cash when you sell your home.
The profits from home investments are often greater than many other investments. Because you can borrow against your home, equity can be a source of emergency funding.
Land appreciation adds to the value of your home.
Tax Advantages:
Mortgage interest is tax deductible. Real estate taxes are tax deductible. You can enjoy tax-free profits up to $500,000 from the sale of a primary residence that you have occupied for two of the last five years, if you are married and filing jointly. If you are single or married filing separately, you can enjoy tax-free profits up to $250,000.
Personal Satisfaction:Enjoy more privacy in your own home by Buying a House.
You enjoy the satisfaction and pride of home ownership.
Home ownership is, for many people, a sign of independence and achievement. It is an investment in your future.