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As we are approaching the middle of the summer, let’s take a look at a real estate update for July 2024, starting with a checklist for success when working with buyers.

Working With Buyers: A Checklist for Success

Buyers' checklist

As real estate professionals, our success hinges on the satisfaction and success of our clients. 

To ensure that your buyers are well-prepared and confident throughout their home search, we’ve developed a checklist that you can utilize to guide them through this exciting yet complex process.

The following items should be discussed before stepping through the door on the first showing:

Foundational Items

  • Pre-approval letter: Ensure that your buyers can pull the financial trigger when they find the house they want. A digital copy of the pre-approval letter will be a necessary part of any offer.
  • Buyer’s agency agreement: The changes brought about by the NAR lawsuit settlement will make it more important than ever to have a service provision contract signed with our buyers.

The Financials

  • Downpayment: The lender will have informed your buyers regarding the amount needed for a downpayment.
  • Inspection: Money should be set aside for the home inspection process.
  • EMD: Educate your buyers on the purpose of the earnest money deposit and determine the amount needed.
  • Appraisal gap coverage: Can the buyers set aside additional money to cover a low appraisal? Having this money available can be a deciding factor in getting an offer accepted.
  • Homeowners Insurance: Many, if not most, lenders will insist on the buyers paying at closing at least the first month of the homeowner’s policy.

Defining “Dream Home”

  • Detailed lists: Guide your buyers in creating comprehensive lists of “must-haves” and “nice-to-haves.” This will help them focus their search on properties that align with their needs.
  • Lifestyle analysis: Engage in conversations about your buyers’ current lifestyles and future goals. Do they have a growing family? Do they work remotely and need a home office? Understanding their unique needs allows you to tailor your property recommendations accordingly.
  • Location exploration: Share your local expertise by highlighting neighborhoods based on their preferences for commute times, school districts, safety, and amenities. Offer insights into market trends and potential for appreciation.

House Hunting

  • Online resources: Leverage technology to streamline the search process. Utilize online platforms and apps to filter listings based on your buyers’ criteria and share relevant properties with them regularly.
  • Virtual tours: Encourage your buyers to use virtual and video tours to help narrow down properties they will see in person.
  • Showings: Schedule property tours geographically to cut down on travel times. Encourage your clients to ask questions, take notes, and be prepared to offer your insights and expertise on each property.

Remember, your success is intertwined with your buyers’ success. Preparing them before they go out looking at houses will set you both up for a winning home-buying experience. 

What a Transaction Coordinator Can Do for You

AgentUp Transaction Coordination

How would you like to increase business efficiency while making your work day and life a little easier?

AgentUp offers affordable and precise transaction coordination services and the opportunity to hire a full- or part-time dedicated transaction coordinator.

Our transaction coordinators will save you valuable time by ensuring that your sales close quickly and in compliance with the necessary rules and laws:

Recent studies show that working with a transaction coordinator saves a broker or sales agent 12 to 15 hours per sale.

Now, ask yourself: What would you do with an extra 12 to 15 hours? Prospect for new clients Professionally network? Maybe play a round of golf?

Whether you have 100s of transactions per month or just one, AgentUp has the experience and capacity to manage your transactions precisely and carefully.

Have questions about our transaction coordination services? We’ve got answers.

Schedule a free consultation call today to learn more!

Median Regional Home Prices

As of June 28, 2024 (Zillow)

CityMedian Home PriceIncrease / Decrease
New York $742,930Up 0.3% from the previous year
Chicago $298,397Up 4.5% from the previous year
San Diego$1,035,332Up 12.1% from the previous year
Seattle $884,828Up 4.3% from the previous year
Austin $548,654Down 4.1% from the previous year
Denver $576,355Up 0.6% from the previous year
Atlanta $399,879Up 2.0% from the previous year

National Average Mortgage Interest Rates

As of June 28, 2024 (BankRate)

Mortgage Current RateLast Month
30-year Fixed7.00%7.11%
20-year Fixed6.81%6.92%
15-year Fixed6.47%6.61%
30-year Jumbo7.10%7.26%

AgentUp AI Photo Editing App

AgentUp AI Photo Editing App

AgentUp is an industry leader when it comes to leveraging technology, and this includes the latest AI tools.

AgentUp’s AI Photo Editing app is one of the best available today.

Our superior, easy-to-use AI photo editing app offers many benefits, including the following:

  • Speed – your photos will be finely edited in less than 5 minutes
  • Precision – AI technology delivers outstanding results
  • Ease – the app edits the images, so you don’t have to
  • Inexpensive – most listing photos can be edited for as little as $1.50 per image

Try it for yourself. Edit some photos using the AI photo editing app right now.

Simply scan the QR code below on your smartphone to get started. It’s fast and easy.

AgentUp AI Editing App

While the app is the perfect solution for editing just a few photos, AgentUp offers real estate photo editing services for larger and more complex jobs.

Sign up for a free AgentUp account and use the best real estate marketing and support services available. Before you go, you may also want to check out the following related resources:

Gregory Gronbacher

Real Estate Sales Agent / Professional Blogger

Gregory is a real estate sales agent and a state-certified instructor of real estate licensing and law. Originally from New York City, he's called Grand Rapids, Michigan home since 1995.

Connect with Gregory