HousingWireHousingWire
Buyer’s agents are not just bright smiles that open doors – we’re the guide our clients rely on to navigate the homebuying process. This is when your buyers need you the most. That’s why having a definitive homebuying checklist is an essential part of your agent toolkit. I’ll share everything you need to keep the homebuying process running smoothly from your first meeting to closing – and beyond.
1. Consultation: Prepare clients for the homebuying journey
Every client needs to be prepared for the homebuying process, whether it’s their first home purchase or their tenth. Each purchase comes with a unique set of circumstances. So before your clients fall in love with the perfect home, they must be financially ready and understand which homes they can realistically afford.
Evaluate the seriousness of your lead
Not all responsive leads will be serious buyers. Your time is valuable, so you’ll want to qualify your buyer before investing countless hours into showings and consultations to ensure they are truly ready and qualified to purchase a home. Here are a few questions you can ask to start feeling them out:
- What’s your timeline for buying your next home?
- Have you spoken to a lender?
- What is your reason for purchasing a new home?
- What’s motivating you to move?
- Who are the decision makers?
- Who will be involved in the homebuying process?
Buyers who are not quite ready to purchase will be hesitant to answer some of these questions. Setting expectations on how you will work with them and what you expect will help you focus your time and energy on buyers who are ready and willing to make a move.
Secure a mortgage pre-approval
As a rule of thumb, it’s best to have your clients obtain a mortgage pre-approval prior to setting up any searches and conducting property tours. Connect your clients with your preferred lenders to ensure they are only looking at homes they can afford to make an offer on. This will save your buyers from falling in love with a house they can’t afford and will save you from wasting any of your valuable time.
Required documentation
Save your clients some time by providing them with a list of the documents they’ll need to get pre-approved. This typically includes:
- Recent pay stubs
- Last two years tax returns
- Recent bank statements
- Proof of any additional income or assets
Discuss the budget
Once you have the mortgage pre-approval, have an open conversation about your client’s financial situation. They need to understand how income, debt, and credit score will affect their purchasing power. When working with clients who have never purchased a home, you’ll want to provide them with a first-time homebuyer checklist to be sure they understand the costs associated with owning a home, including, but not limited to:
- Down payment
- Closing costs
- Earnest money deposits
- Home Inspection costs
- Appraisal fees
- Property taxes and homeowners insurance
By providing them with a list of potential costs upfront, they will be ready to make an offer and decide if they can purchase the home without stretching beyond their means. Make sure your clients know how these costs impact payment amounts, cash out-of-pocket, and their bottom line. A well-informed buyer will be less likely to face financial surprises down the road, which could negatively impact your transaction.
2. Build a roadmap: Conduct an in-depth buyer consultation
Now that you’ve qualified your buyer, it’s time to discuss their housing goals. This is the time you determine what features they want to find in their next home. Think of this as building a roadmap for their homebuying journey. From choosing a property to navigating the closing process, you’ll need to do a deep dive into their wants, needs, and deal breakers. This conversation will help you set realistic expectations for the buyers and ensure that you show them properties that align with their priorities.
Discuss wants, needs and deal breakers
Understanding what your clients want and need in a home is crucial, but it’s just as important to understand what they don’t want. Shopping for a house isn’t much different than shopping for a car. Unless it’s a custom build – it’s rare to find something that will check every box on your client’s wishlist. This is where the 80/20 rule comes in handy. If a home has 80% of what your client needs and 20% of what they want, it’s likely a solid purchase worth serious consideration.
Remember, this is the opportunity to help clients discover their “must-haves” versus the “nice-to-haves”. Make sure they take into consideration more than just the basics, like bathrooms and bedrooms. They should also consider:
- Preferred neighborhoods and school districts
- Commute times to work
- Lifestyles needs (i.e., home office, yard size, proximity to shopping and amenities, etc.)
- Architectural style
- Floor plan and home layout (i.e,. first-floor primary bedroom, kitchen island, open concept, etc.)
The final – and arguably the most essential – question to ask is: “What are your deal breakers?” These are non-negotiable features that would immediately disqualify a property from their search. For some homebuyers, it may be something specific like not wanting a swimming pool, while others may insist on the home having a two-car garage. Identifying these deal breakers up-front eliminates homes from your property search upfront.
Ensure they know what’s next
Many homebuyers, especially first-timers, are not aware of how many steps there are in the homebuying process. Take the time to walk them through what they can expect from showings to closing day.
- Showings: Explain how you, as the agent, will find and send properties through MLS searches and set expectations for how you will conduct property tours.
- Offers: Outline how making a competitive offer will work, including how price, contingencies, due diligence funds, and earnest money will impact how the seller views an offer.
- Negotiations: Prepare your clients for the possibility of counteroffers. They will want to be prepared to be flexible and know that you’ll advocate for their best interests.
- Under contract: Let your clients know what to expect after they go under contract on a home. Clarify key steps like inspections, appraisals, and the importance of meeting deadlines and any impacts of missing them.
- Closing: Briefly review what to expect on closing day, including a final walkthrough, signing documents, and collecting the keys to their new home.
Remember, this is a lot of information to cover at once – especially as part of a first-time homebuyer checklist. While you want your clients to be prepared, focus primarily on the immediate next steps and reiterate the key details as you progress through each stage of the transaction.
3. Set the stage: Educate your clients on the market
This is your time to shine! Show off your real estate knowledge by educating your buyers on what the market is like in your area. It’s important for clients to be able to make informed decisions, and it’s your job to help them navigate the current market while setting realistic expectations. When buyers know what to expect, they are less likely to feel overwhelmed by the process.
- Explain current market conditions: Is it a buyers market, sellers market, or a more balanced market? Let your clients know how the market will impact competition, home values, and the overall buying strategy.
- Review comparable sales: Show your clients how a comparative market analysis (CMA) will be used to help them make an offer and determine the fair market value (FMV).
- Discuss pricing and inventory trends: After you go over how you determine FMV, go over the latest local trends in home prices, days on market, available inventory. How will these factors affect a potential offer?
- Set realistic expectations: Prepare your buyers for any potential issues they may encounter during the homebuying process, such as bidding wars or appraisal gaps. Buyers are more confident when they know possible upfront challenges.
Related article
How to prepare a comparative market analysis (CMA) report
4. Open the doors: Schedule and conduct property showings
Now for the fun part – showing homes. Once you’ve found homes that meet your client’s needs, it’s time to get them in the door for a look around. Schedule your showings efficiently, leaving plenty of time to properly view a home and scheduling enough time to get to your next showing. Make sure you take into consideration your client’s schedule and the location of each property.
During the tours, highlight features that meet their needs and wants. While you want to point out what they will find most appealing, don’t forget to point out any red flags or potential issues in a home. Remember, it’s not just about making a sale – it’s about advocating for your client’s best interests.
Encourage your buyers to keep an open mind. Sometimes a home feels different when you finally see it in person. Your goal during the tour is to help them envision the property’s potential and how it can meet their needs.
Related article
Our 19-point house-hunting checklist for real estate agents & their clients
5. Draft the offer: Guide your clients on making an offer
When your clients find the home they just can’t live without, it’s time to write up a competitive offer. You’ll want to start by reviewing a CMA to determine a fair value based on the current market conditions. Walk your client through all the pieces of their offer, including price, inspection timelines, closing dates, contingencies and any due diligence or earnest money deposits. Explain how each of these elements can strengthen – or weaken – their offer through the eyes of a seller.
Once your client has all the necessary information, write up the offer, ensure signatures are properly applied, and send it off to the listing agent for review.
Pro Tip
Review every detail of the offer for accuracy. Your role as their agent is to ensure every offer is presented professionally to give your clients the best chance at landing their dream home.
6. Seal the deal: Negotiate with confidence
Once an offer is submitted, negotiations are sure to follow. It’s always good to prepare your clients for the potential of a counteroffer. Work with your buyers to identify areas where they could be flexible. Negotiation can seem like a scary term for buyers, but really it’s just a fancy word for compromise – give a little, get a little. Remember, the goal of negotiations is to advocate for your client’s best interest while trying to find solutions to satisfy the seller.
This is where your strong communication skills will come into play. Respond to the listing agent promptly, keep your communication clear and professional and inform your clients every step of the way.
Related article
Real estate negotiation: 8 effective strategies from a KW mega broker
7. Stay on track: Manage the transaction from contract-to-close
Once you’re under contract on a property for your clients, your role shifts a bit. This is where you may benefit the most from a homebuying checklist. At this point, you’ll transition from a negotiator to a project manager. This next phase will be filled with inspections, deadlines, documents, and other moving parts that are key to a successful closing. Stay organized to avoid any last-minute surprises.
- Track important deadlines: Create a timeline to keep track of important dates and deadlines. These include contingency deadlines, financing requirements, inspection periods, and closing dates.
- Coordinate with all parties: Maintain an open line of communication with all parties, including agents, lenders, attorneys and title companies.
- Handle documentation and compliance: Review contracts, amendments and disclosures for accuracy. While it’s important for all paperwork to be accurate and complete, it’s just as necessary for your clients to know what they are signing.
- Problem solve issues: Every transaction is sure to have its challenges. Whether you’re dealing with an appraisal gap, negotiating repairs or running into any other bumps in the road, be sure to stay calm and offer productive solutions to keep the transaction moving forward.
- Communicate effectively: Help reassure your clients that the transaction is on track to close by providing regular updates, even if there’s nothing to report. Don’t forget to check in with other parties as well to be sure you are giving your buyers the most recent updates.
By proactively managing the transaction from contract to close, you reduce stress for your clients. Your attention to detail will set you apart while paving the way to a smooth transaction and successful closing.
8. Do your due diligence: Protect client interests
The due diligence period is the time when the buyer conducts inspections to verify the condition of the property. As the buyer’s agent, you’ll oversee home inspections and ensure that the appraisal is completed timely. If you find any concerns that need to be addressed, this is the time to negotiate the contract further by requesting repairs, price reductions, or seller concessions.
Home inspections
Home inspections are a vital piece of the homebuying process checklist. This is the time for buyers to discover any deficiencies in the property and work with the seller to resolve any issues. As an agent, you should:
- Recommend reputable inspectors
- Attend the inspection
- Review the inspection report with your clients
- Identify major concerns
- Write a repair request or negotiate a credit at closing
Appraisals
If your client is financing the property, the lender will likely order an appraisal, another important component of the homebuying process checklist. While agents and clients don’t have much control over the appraisal process, they can stay in touch with the lender to ensure the appraisal is ordered in an appropriate timeframe to meet deadlines.
- Ensure the lender orders the appraisal promptly
- Review the appraisal report with your clients
- Discuss any appraisal gaps with your clients
- Negotiate with the seller to adjust the price or work with the buyer to cover the gap
As an agent, it’s your job to guide your buyers through this process by identifying any red flags that could potentially cause an issue now – or down the road. A thorough home inspection could uncover potential structural, electrical, or plumbing issues, while an appraisal solidifies the property’s fair market value. You’re helping your clients put the pieces of the homebuying puzzle together to ensure they are making an informed decision and a sound investment.
9. Final touches: Prep for a smooth closing
Now that you’re outside the due diligence period, it’s time to prepare your buyers for closing day. Use this time to tie up any loose ends, double-check documents, and confirm deadlines so everything goes as planned.
- Review the closing disclosure: Three days prior to closing, be sure the lender has sent over the closing disclosure. Review the document for accuracy and ensure your clients have a clear understanding of the final numbers.
- Schedule the final walkthrough: The final walkthrough should be scheduled on the day of closing or just before. This is the time to verify the property’s condition and confirm no issues have come up since the last time you visited the property.
- Confirm closing details: Touch base with all parties to ensure the transaction is on track and ready to close. Confirm the time, date, and location of the closing.
- Update the buyers: Remind your clients of the closing date, time, and location. Provide a homebuyer closing checklist of what they’ll need to bring to closing, including valid IDs and final payment details (i.e., a certified check, wire transfer confirmation or other required documents).
Pro Tip
Be sure that any agreed-upon repairs have been completed if you have not already done so prior to the final walkthrough.
10. The signing and beyond: Build lifelong relationships
Closing day isn’t the end of the journey – it’s the beginning of what will hopefully be a long-lasting relationship. Once the paperwork is signed and the keys are turned over to your buyer, take a moment to celebrate with them. This is a huge milestone in most people’s lives, and you should be honored to be a part of it.
Send a personalized thank-you note or a small housewarming gift right after closing to show your appreciation and nurture an ongoing relationship, but the relationship shouldn’t end at the closing table. Check in with your clients periodically to see how they’re settling in, offer any homeowner tips and be a resource for any real estate questions you may have down the road. One day they may want to sell, and you will want to be the first person they think of hiring.
If you’re looking to take relationship management to the next level, check out Market Leader. Their automated email and text messaging features free up your time to focus on what you do best – closing deals. Plus, Market Leader CRM integrates with your marketing and lead generation platforms allowing you to organize all your contacts. If you want a CRM that works as hard as you do, Market Leader CRM is the way to go.
Visit Market Leader
Related articles
How to make the most of real estate testimonials to attract new clients
The best real estate closing gifts for 2025
The full picture
Guiding your clients through the homebuying process can be challenging, but our definitive homebuying checklist is the perfect solution to tackling any challenges that may come your way. By being proactive in your approach, you’ll create a seamless experience for your buyers that leads to happy clients and successful transactions.
This checklist isn’t just about staying organized, it’s an essential part of your toolkit that will help you build trust with future buyers and deliver exceptional service at every stage of the homebuying journey.
