For expert advice, coaching, or consulting:
Stephanie Kelsey Cottrell
512.522.9444
www.puravidacoaching.com
Or check out her youtube channel https://www.youtube.com/user/PuravidaCoaching
Buying a home? Real estate agents role is not to show you pretty houses. Their role is to be your real estate coach!
1. IDENTIFY YOUR TIMING AND MOTIVATION
MOTIVATION: Why are you moving? What important event is happening in your life that brings you to buying a home? Motivation Level: (low) 1 2 3 4 5 (high)
What is important to you about finding a home at this time? ____________________________
Do you currently q Own, or q Rent? Lease Expires: ________________ Rent Amount: $
If own, is house on the market?q Yes q No If own, do they have to sell first?q Yes q No Get them listed!
COMMITMENT: How long have you been looking for a home? __________________
What is your absolute drop dead date for moving in? _________We will set a goal in place of ______________
2. IDENTIFY YOUR HAVE TO HAVES
LOCATION:
Desired Area(s): TOP 3 ARE:
School Preference:
Neighborhood Preference: ______________________Areas you won’t buy in: __________________________
HOME CRITERIA: Style: _________Bed Rooms:______Baths:______Square Footage: ________Lot Size: _______ Fireplace: _________Family Room: ________Bonus Room: ________ Garage: ___________Pool/Spa: _____
Cul-de-sac: ___________Yard: _________ Home Office: _________Formal Dining: _________
Close to Schools: _____ Close to work: _____ Community resources______ Close to shopping _________
Other Misc. Features: _____________________________Special Needs/Must-haves: ________________
Age: ___________________ Updates must have:__________________ View: ____________________
Is there any other important criteria we may have missed? ____________________________
If you currently own: What did you love about your current home? ___________________________________
3. ADVISE THAT ALL PARTIES MUST BE INVOLVED FROM DAY 1
Is there any other purchaser/co-owner, or people, who would need to see the home before you make the decision to purchase? They have to be involved from day one. All decision makers MUST be involved from the beginning. Parents can’t come in at the last minute.
4. BE A REAL ESTATE EXPERT Tell you the truth about current market conditions on Day 1
Supply is low and demand is high. You will understand the market you are buying in, that is what I am here for. In some local areas, we may have to write over list price. We may increase our earnest money.. some even have to close and rent back to the sellers. Show them a CMA for the market and price point they are interested in. The numbers to share are:
List price to sales price ratio # of days on market for pendings and solds in last 60 days
# of active listings # of under contract and/or pending # of closings in last 60 days
5. THEY MUST HAVE A MORTGAGE PARTNERSHIP
Have you talked to my lender? Have we gotten you preapproved? ________________________________
You must be approved with our lender. Even if have your own preapproval. We NEED you be approved with a local lender that I have a relationship with. My lender will even call the listing agent after we have submitted an offer. Our goal is to reassure the agent and the seller that you are a quality buyer. Nobody else does this.
Have their mortgage partner reach out to you… even if you already have a lender.
They should never ask you to call the lender. They should arrange the contact on your behalf.
Even if you are approved.. you should get approved with the agent’s lender in parallel.
The great agents have ONE lender. They will not give you 3 business cards and you choose.
Their lender partner should call the listing agent when an offer has been made to assure the agent the power of the approval letter.
6. MUST HAVE A STRONG BUILDING INSPECTOR RELATIONSHIP
They should have a partnership with their inspector. You should not choose your inspector! They should not go to the entire inspection. The expert is the inspector. They should show up at the very end and review the summary.
Inspections are intended to identify hidden defects.. mostly life and safety issues. The inspection report may say the gutters need to be cleaned… but is that really a life and safety issue. Now …mold, radon, aluminum wiring, roof is 20+ years old.. those are important issues. Please don’t ask to have the gutters cleaned.
7. THEY MUST HAVE EXPERIENCE
Our role is not to show pretty houses. Our role is keep our clients out of harms way.
Does a brand new agent know how to keep you out of harms way? There is no real estate school!!!
Have they ever negotiated a contract where there are horizontal cracks in the foundation and termites under the front porch, mold in the attic and radon in the basement?
Have they ever negotiated a contract where there have been multiple offers and won?
Have they ever let the buyer choose the lender and they don’t fund on time?
How about aluminum wiring. Is that as scary as it sounds? What about that panel box that is all knob and tube?
How about the time the seller would not budge on life and safety issues.
Do they understand that in order to you to win.. we have to write over list price and cannot ask for closing costs? Did they tell you that from DAY 1.
8. THEY MUST ASK YOU TO SIGN A BUYER LOYALTY AGREEMENT
An agreement to represent you should be presented. Indicating their plan of action and expectations from you as well.
You should not be working with 3 or 4 different agents!!!
Stephanie Kelsey Cottrell: Audio 1
Stephanie Kelsey Cottrell: Audio 2
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