Jeff’s Carlsbad Blog for First Time Home Buyers

What Does a Realtor Do? (Part 2)

Posted in Realtor's Job by Jeff Dowler on December 19, 2006

Here is some more information on what a REALTOR does for you, the buyer. If you missed the first post on this topic, you can read Part 1 here.

The Offer and Contract

  • Review Offer to Purchase including all disclosures (if applicable) in detail, and answer all questions regarding 17-day (or other) contingency period, agency disclosure, deposit, liquidated damages options, buyer’s rights and obligations, escrow process, etc.
  • Obtain pre-approval letter on buyer from lender
  • If Buyer Agent: prepare spreadsheet of comparable sold properties
  • If Buyer Agent: review comparables spreadsheet with buyer and discuss offer strategy
  • Discuss pros and cons of offer strategy, timing and related issues
  • Determine from listing agent if there are other offers pending or expected
  • Complete offer to purchase form and other required documents with buyer’s input
  • Ensure buyer reviews all forms for accuracy, and signs and/or initials where required
  • Discuss the offer presentation process and timing, and what buyer can expect
  • Contact listing agent to arrange to present offer
  • Present offer face-to-face if possible; otherwise fax or deliver hard copies
  • Communicate to buyer that offer has been presented and any feedback
  • Once listing agent provides response to offer, communicate promptly
  • If necessary, discuss, prepare and convey any counteroffers, acceptance or amendments to listing agent
  • Provide copies of signed offer and all addendums to buyer, listing agent, buyer’s attorney (if buyer decides to hire one – in some states attorneys are standard protocol but not in California)

2 Responses to 'What Does a Realtor Do? (Part 2)'

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  1. […] Part 1, Part 2, and Part […]

  2. […] vary from state to state, and from agent to agent. (if you missed my earlier posts, read Part 1 and Part 2 […]

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