Posts Tagged ‘real estate transactions’

You Have A Client Who Is Ready To Make A Real Estate Offer – What To Do Next…

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What to do when you have a client looking to buy a house.

Congratulations, you have a customer who is ready to write an offer!

We put together this handy guide on the steps for helping your clients:

Before you sit with the buyer to write the offer:

1. Pull a property profile

2. Print the full MLS listing (not the version for the customer)

3. Call the listing agent to let them know you and interested buyer and anticipate sending as offer…….ask if there are other offers, ask for the general terms and price of other offers, ask if there is anything specific seller needs (long closing, rent back at COE, etc).

4. Take a blank copy of the RPA with you when you meet the customer (WPA just in case buyer wants to use form with offer)

5. If you are not familiar with the RPA, highlight your blank copy to make sure you cover all the necessary items when you sit with buyers

6. Ask buyer if they have a lender and have they have been pre‐approved!! (you should actually do this before showing properties to a customer but if you didn’t, it is vital you get this info now)

7. Ask for an appointment to meet with all buyers at once

8. Pull a CMA for buyer so they have some idea where market value is as YOU cannot determine the offer price

At the appointment:

1. Review items of the property that were of importance for the buyer (must have washer and dryer, must have high yard fence, etc)

2. Show buyer the CMA so they can see up front what the market value of the property may be.

3. Confirm who the buyers will be (this should match names on pre‐qual)

4. Confirm what type of loan buyer is getting (conventional, FHA, VA)

5. Tell buyer that you will review the entire offer form with them so they can present the best offer to seller from the start (not all agents do this). Once you have reviewed all items with them, you will go straight back to your office and create a full electronic version with the required attachments and you will Docusign/Digitial Ink or personally bring back to them to sign.

6. Use your sample RPA, start with page one and ask/discuss/clarify items required to submit the offer (use your highlighted items and cover each item)

7. Once you have all of the information you need to create the offer, give the buyer homework!

8. Have buyer write a personal letter to the seller (tell the buyer what the seller’s name is) to tell them a little something about themselves and why they love this property (be sure to have them stay away from ethnic/racial references, direct religious references, or sexual orientation references)

9. If the buyer’s pre‐qual/pre‐approval letter is not the same as the offer amount you are going to write, have buyer contact their lender and get a new letter.

After the Appointment:

1. Write the OFFER!!!! Minimum forms, AD2, RPA, BIA (additional forms that may be
needed, WPA, Affiliated Business Disclosure, Addendum, APA, PAA)

2. Review the offer to make sure you have everything on there that you and buyer
discussed. If you missed discussing something, contact buyer ASAP and get that
information.

3. Get offer signed by buyer(s) and YOU sign page 8

4. Get the buyer letter and the prequel from buyer

5. If possible, create ONE PDF with all documents (personal letter is page 1, Pre‐qual is page 2, copy of the initial deposit check is page 3, RPA, BIA, WPA, etc, etc)

6. Send offer to listing agent as indicated on MLS report.

7. Call listing agent and let them know you just submitted an offer!

Let us know if you have any questions?

Sincerely,

gayle-philippi

Gayle Philippi, Broker Associate/Senior Transaction Officer

CalBRE Broker License #01331334

Big Block Realty – 100% Commission California Brokerage

Want To Take Your Career To The Next Level? Big Block Realty Has The Tools…

Big Block Realty Voted Best Real Estate BrokerageIf you’ve been considering a career change or perhaps joining a new real estate brokerage, we’d like to share a little bit with you about Big Block Realty

There are many reasons we’d like for you to join our ranks.(see below)

But the main reason is because we think you are awesome and you could bring some of that awesomeness to our team!

Here are a few other reasons to join Big Block Realty:

World Class Support

Giving our Agents top-notch support is very important to us. At Big Block Realty, you get much more than 100% Commission on your Real Estate Transactions. Our Agents also get the premium support through their entire business!

When someone joins Big Block Realty, he or she will enjoy:

Agent Concierge

We are always here to help! From quick questions to help making lunch reservations for that big client meeting, our Agent Concierge is dedicated to making your life easier.

Transaction Support

Our Agents are never alone during a transaction. Our team of top notch real estate experts is always here to help! From filling out contracts to collecting your 100% commission check, we are just a phone call away!

Social Media & Technology Support

We have some of the world’s leading online and social media experts here to help you grow your business! With our 100% commission and top-notch social media support, your business will never be the same.

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With our team of mega marketing experts, generating leads for your real estate business will never be a problem again. Our proven strategies are virtually guaranteed to help you get more 100% commission checks.

Attorney Support

When you join Big Block Realty you can rest assured that you always have Attorney support when you need it. Our Broker of record is also a licensed Real Estate Attorney!

If you’d like to learn more about a career with Big Block Realty, we’d love to hear from you! So, let us know if you have any questions, we are always here to help. To learn more about our industry leading support, training and 100% commission real estate model, call us today! (800) 550-3209

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Oliver, Sam, Spencer and
The Big Block Realty Family

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