Educating the Buyer 15. Communicate the working relationship based on state law, the REALTORS ® Code of Ethics, and the broker’s business policies 16. Explain Federal and State Fair Housing laws 17. Explain what to look for in applicable property disclosures 18. Reassure the buyer that their personal information will remain confidential 19. Inform the buyer that you will always disclose all known material defects 20. In accordance with state law, provide information on checking the sex-offender registry and crime statistics for the neighborhood 21. Discuss available resources that the buyer can check to learn more about prospective neighborhoods Preparing the Buyer 22. Explain the timeline for house hunting, mortgage approval, and closing 23. Explain the local market and how it impacts the buyer 24. Show statistics on what percentage of list price sellers in the area are currently receiving 25. Inform the buyer on what home features are popular 26. Identify current average days on market 27. Share the dangers of using the price per square foot to figure home values 28. Explain the concept of absorption rate and how it impacts the buying process 29. Indicate current listing months of market inventory 30. Share estimated potential out-of-pocket costs to complete the transaction 31. Assist the buyer in analyzing the loan estimates 32. Qualify the buyer for financial ability to purchase 33. Help the buyer account for the complete costs of homeownership 34. Prepare lender for listing agent calls 35. Assist in comparing different financing options 36. Help the buyer select for viewing only those homes that fit their needs 37. Proceed in showing homes that fit the buyer’s must-haves 38. Caution the buyer on posting information to social media 39. Review the sample sales contract so the buyer is prepared when it comes time to make an offer
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