When you're a realtor, there's a lot of paperwork that goes along with the job. It can be daunting for clients to have to sign all those documents, but if you walk them through it step by step, they'll feel much more comfortable. Here are some tips on how to do just that.
Check-in with the client
Before you start the paperwork process, it's important to check in with your client. Ask them if they have any questions about their home purchase or what they're looking for in a new home.
Setting expectations can be tricky when you put your client into a room full of paper and binders. You must know what they're looking for so you can spend more time on the things that will help them find the right home.
When you are both on the same page, the paperwork will go much smoother and faster.
Explain the paperwork process in detail
You have to have all the paperwork ready to go to sell a home. You need to walk your clients through the process and document each step of the way.
With a lot of paperwork involved, it can be difficult for real estate agents to keep up with everything. This is where effective real estate business management software comes in handy.
The good news is that some brilliant solutions are out there that will help your business stay organized and on track throughout the process. You'll never get stuck looking for something again! As long as you have the right software in place, you'll be able to manage your business more effectively and efficiently.
Present and walkthrough offer documents
When you present a property to a client, they will be asked to sign an offer document. It's your job to help them understand what they are signing and walk them through the process of what happens after they sign.
You want to give your clients the best experience possible regarding the paperwork process. So be sure that the information you're providing is easy for your client to read and understand. You'll also want to make sure everything is up-to-date.
You need to ensure that all signatures are in order before going into escrow and waiting for a response from the buyer's lender or other person overseeing the transaction.
Walkthrough appraisal report
The appraisal report is a crucial document that your client will need to find the perfect home. An agent should introduce their client to obtaining an appraisal report and walk them through the whole process.
First, tell your client what they'll need from their bank when they apply for an appraisal report. Next, explain the fees associated with applying for an appraisal report and what those fees will cover. Finally, tell them that they'll need a copy of their tax records—which can be obtained by calling their last employer—and any other relevant financial documents.
Review closing paperwork
Closing documents are the final step in the home buying process. Here, you'll review all the paperwork that needs to be signed before your potential client can move into their new home.
Here's what you'll need to review and sign:
- The offer letter
- The purchase contract
- Title abstracts
- Appraisals
- Financing documents
- House inspection report
Final Thoughts
As an agent, you're responsible for meeting your client's needs while still adhering to the legal standard and getting the job done. Walking clients through paperwork can save everyone a headache!
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