Buyers Preparing for Showings
- Adam Garrett
- Jun 27, 2023
- 14 min read
Updated: Sep 1
In this article, I wanted to briefly go over the most important elements before showings for buyers. I'll start with recommendations prior to going over requirements.
Required:
Alert Your Agent (Text, Call, or Email a Text) That You'd like to See Property(ies), Your Available Times, the Format, & More
Letting your agent know that you want to see a property as soon as you are able via call, text, or emailing me a text following your receiving a property alert will get you the best chances of a showing before a property is under contract. If I'm your agent, it's best to text me as soon as you find a property you'd like to see. I turn my phone to silent when sleeping, so if it's 2 AM, that's no problem. If I'm up that day at 6 AM, or if I'm working at 2 AM still, it's ideal for me to make the showing request ASAP or schedule out a text to the agent for 8 AM to avoid delays while not waking up the low % of agents who don't turn their phone to silent when sleeping. In some cases, I might respond prior to reaching out to the agent about potential concerns about the property if you're my client.
Adam has other questions he likes to ask buyers prior to showings as well, such as the duration per showing to budget, which is especially important when seeing multiple properties at once or when looking to see a property for over an hour.
Be sure to let your agent know what times you'd be available & if you'll be coming in person or wanting to see property virtually (typically on Zoom).
When Alerting Your Agent, Include the Addresses & Where You Found the Properties
Even if you have an MLS feed going and have loved some properties, it's important to note that sometimes buyers' requests for showings don't match up with their "loved" properties.
The longer the list, the more that an email makes sense, but if emailing, be sure to couple that with a text or call so I'll know sooner.
One way to create a list is directly on a buyer property notes spreadsheet, as long as you include the addresses & sources of properties, even if all other sections remain blank.
Why Share Where You Found Properties?
Properties are only on a limited # of MLS
Some properties aren't even on MLS,
Some properties (especially FSBO's) could be on just 1 or a few of 1000's of possible websites where you can find listings
Some properties may not even be present online while still being available
Some properties appear to be available, but aren't really, like phantom properties in active contingent status on Zillow in Hampton Roads with no way of knowing if looking at Zillow even with a trained eye
Some properties appear to be available, but aren't actually listed & may be an uphill battle for you to try to locate the seller & convince them to sell, like pre-foreclosures
Search for & Establish Buyer Brokerage If Looking to See with a Buyer's Agent Who Will Point Out Positives & Negatives
Survey results demonstrated that "Eighty-two percent of home buyers express regrets about their recent property purchase." I typically recommend hiring your own buyer's agent/broker, & only considering those who are great buyer's agents (which is commonly misunderstood; i.e. it's not all about volume of former transactions & volume of reviews), to reduce buyer's remorse.
Different Types of Agency:
If seeing a property with a listing agent and you will be an unrepresented party, you don't need to sign a buyer brokerage agreement, but you should be signing a form that states that you are unrepresented with an offer.
Designated agency is where 2 agents or brokers from the same firm are on opposing sides of a transaction, i.e. via referral from the listing agent.
Dual agency (which is similar to transaction agency) is where a single agent or broker helps facilitate a transaction
Having your own buyer's agent: There are some important matters to note regarding why most hire an excellent buyer's agent/broker:
Without a buyer's agent, you run high risks of not selecting a home on the terms that would be ideal for you since you won't be represented professionally, or your "representation" will have mixed loyalties if they're a dual agent (where 1 agent seeks to represent both sides), will have limited capabilities if they're a transaction agent (where 1 agent acts as a middleman between 2 parties without full representation of either side), & in some cases, if they're a designated agent (particularly if the listing agent finds you the buyer's agent).
Without a great buyer's agent
You also run a much higher risk of buyer's remorse vs working with an experienced excellent agent who whose values include high standards of their fiduciary duties (to protect your interests above their own). Also at least if you make an offer,
If having your own buyer's agent & you haven't taken the step for buyer brokerage yet, and you won't be seeing a property that I have listed, it will be important to do the paperwork for buyer brokerage (exclusive or non-exclusive) prior to showings as long as your intent is to buy & you want me to do things like pointing out negatives of homes that are a critical component of my showing style. If a listing agent that was showing an unrepresented buyer, who wasn't acting as a dual agency middleman (which is so problematic that dual agency is prohibited at my firm and illegal in some states), started pointing out unrequired negatives, they would be in breach of their duties to the seller, including that of loyalty. While a small subset of negatives are legally required for listing agents/sellers to point out for customer buyers (when the agent is representing the seller), a much larger element of negatives should be pointed out when the buyer is being represented by an agent.
There are some disclosure forms that are commonly signed as well that vary by state, area, and firm, but these are not required to be signed before showings. In my case, 1 is required before any referrals to service providers, the affiliated business disclosure. Also, certain forms should be received prior to offer based on law or the contract, i.e. the Consumer Disclosure Information Form in Virginia.
I have a form I can send you with questions going through your buyer brokerage preferences or we can go over them during a Zoom session.
Examples of Required Elements of the Form
Are you alright with my hours?
Would you prefer an exclusive or non-exclusive agreement?
How long would you prefer the agreement to be for?
What is your legal name(s)?
What is your email address(es- preferably one per signer)?
What are your initials?
Highest Recommended:
Look For Potential Negatives Online, Especially for Area Elements Protected by Law
When looking at properties, it's best to use a large screen that you are close to, not a phone. A large screen will help you see more details such as negatives you might not see on a phone. If a virtual tour is available, be sure to see it.
Look for things like flood zones before reaching out about a property.
Get a visual of the area before reaching out about a property, using Google Maps aerial view, street view, and 3d view (which isn't typically available in rural areas):
To shift to the aerial view, click on "Layers" at the bottom left:
To shift to the aerial view, click on "Layers" at the bottom left:
Get an idea of the neighborhood values by going to Zillow.
Image courtesy Zillow
If the home you're looking to see is double the price of all neighboring properties, keep in mind that you can change a house, but it's much harder to change a neighborhood, and the real estate principle of regression is at play in these circumstances, where the surrounding homes can bring the value down of a very nice property. I've seen it happen where a seller I was representing had the nicest home in the neighborhood under contract for $500k, only for the appraiser to knock the price down by around $50k, with the buyer ready to walk if the seller hadn't come down. That said, I've also worked with buyers who really wanted a home, and who were willing to sacrifice some neighborhood qualities in order to have the new construction home they wanted. The decision is ultimately up to you, but it's best to be informed.
Keep in mind that even under brokerage my advice is limited by law, so it's important to do your due diligence when searching for things that have protected class implications, such as the importance of checking for the crime of an area or the school districts of an area (SE VA Districts) yourself using available resources for that I share about & making sure that you are comfortable with those yourself.
If I were to point out that a property had high crime or a bad school district, I could be accused of steering.
For more details see:
Be On Top of Property Alerts, Especially with Text Alerts, & Understand the Importance of Expeditious Showings
Many would-be buyers miss out on the best properties because they aren't quick enough on the draw with properties as they hit the market. If you don’t see properties ASAP, you’ll miss out on some properties since some properties go under contract <12 hrs from the time they’re input into MLS, especially if in a multiple offer situation and a buyer with a strong offer sets a tight deadline. Sometimes, I'm the buyer's agent with the buyer making a deadline <24 hrs from the time a property hits the market, so it goes both ways.
I recommend getting text alerts even if the MLS portal used doesn't provide for the option for texts directly. Here's how to do that.
In Matrix, the portal used by REIN MLS, email updates can be asap, daily, 2x/day, certain days each week (1x or 2x), or monthly. I recommend asap if you're actively searching.
For more details, see:
(In Some Cases, Required): Acquire Pre-approval or Proof of Funds
Secure a preapproval or proof of funds updated from the past 30 days if you don't already have it. I also recommend taking your preapproval as far along as you can with your lender including manual underwriting if possible prior to showings to have a stronger offer & reduce the likelihood of an erroneous prequalification. Let me know if you need lender recommendations.
In some cases (<10% of the time, but more likely for higher end listings (>$500k in SE VA as of 3/24) than for properties under that amount), a listing may explicitly state that a preapproval or proof of funds is required prior to showing.
If you don't get your preapproval/POF before showing, if the showing ends up being a tight deadline, you may be unable to secure those prior to submitting your offer. If that's the case, it will substantially weaken your offer and the seller may not consider it.
For more details, see:
Be Familiar With What's Needed to Buy
It's not uncommon for lenders to not fully educate buyers on all of the costs involved with a purchase. Often articles on the subject are too simplistic, not accounting for the many exceptions. Also, sometimes cash purchasers aren't aware that they should have some buffer between their savings account and the home purchase price to account for other costs involved and an emergency fund. With that in mind, I've created an article on the subject:
If Available Prior to Contract, Apply for Programs to Reduce Home Cost
While some of the best programs to reduce home cost are available to those with low income (& in some cases, low assets), they are sometimes available to current owners and those above area median income. Some of the most lucrative programs, i.e. Good Neighbor Next Door, don't even have income caps.
It's best to pursue these options before you ever see a home. In some cases, these programs take months or even a year to acquire. Also, sometimes buyers may be disappointed that the income that they have been building up and the assets that they have been building up for years in anticipation of a home purchase now disqualify them from receiving some of the best programs available.
That said, some programs can't even be acquired until after an offer is made and accepted by the seller. It really depends on the program.
Related:
Sickness, Postponement, & Cancelation
If you or others in your home have contracted a readily contagious illness from contact/air & you'll be meeting Adam in person, please alert Adam in advance even if you want to proceed with in-person showings.
The fastest way to reach Adam in the event of sickness, postponement, or cancellation is typically via text, and it's never too late at night or too early in the morning to text Adam as he turns his phone to silent when sleeping.
While his area expertise as well as available MLS coverage options far surpass most agents, Adam has a large coverage area & sometimes travels 2 hours or more for buyers and sellers. With that in mind, shifting things or sharing about sickness with at least 2 hrs notice is greatly appreciated, though not required.
See Tips for Requesting Showings
See my article with tips and expectations on showing requests titled Buyer Tips for Requesting Real Estate Showings
Strongly Recommended:
Get to Know The Agent You're Requesting a Showing From If You Haven't Already
If you're just connecting with a buyer's agent like me it's important to get to know that agent prior to getting them to show you a property. Which agent you choose has a massive impact on the purchase process. What you discover prior to the showing, whether you see the property or not, whether you make an offer or not, whether you get the property you want to see or not, whether you get the right inspection or not, what you discover during the showing, and whether you'll have buyer's remorse or not are heavily intertwined with the agent that you get to show you properties.
If Adam's your agent, be sure to review the following:
Here is more about me.
If Adam's not your agent, or if comparing Adam to other agents your considering, see:
What to Look for in a Buyer's Agent for Your Home or Other Real Estate
If Seeing Property Virtually Only
If you'll be seeing the property only virtually, it's critical that you know what your agent will be offering in terms of visuals. It's also best to get educated on best practices on your end to make for the best video experience.
If the Home You Own Is Listed for Sale, Get Information from Your Listing Agent to Your Buyer's Agent on Your Purchase
You'll want to get the following information from your listing agent, as well as updated information before you make an offer:
The "Agent Full" (& not simply the "Client Full") with jargon specific to agents that's typically not viewable by the public
The tax records for your home from your city or county that connect your name (or your entity name) to the home you have listed
The showing volume at your home if your home isn't already under contract, including any occasions where buyers have come back after seeing it once
The contract on your home if your home is under contract with a buyer
The documentation that confirms the elimination of any pertinent contingencies (i.e. termite/moisture inspection, home inspection contingency removal addendum, HOA disclosure acknowledgement, etc.)
The active offer on your home if your home has a recent active offer
For more details, see:
If Purchasing w/ Someone Other Than Your Spouse on the Loan, Have a Written Agreement in Place in Advance
Weigh the pros and cons of purchasing with someone that you're not married to.
Be familiar with how someone purchasing with someone else who is vs who isn't married to them impacts property rights even if they aren't on the loan. In VA, being unmarred provides very limited rights if you're not on the loan nor the deed and you're unmarried purchasing a house, while if you're married, it would mean a very different story even if not on the deed nor the loan as long as you are married at the time of purchase.
Have a written agreement in place if purchasing with someone you're not married to.
Related:
Should I Purchase a House with my Girlfriend, Boyfriend, or Others I'm not Married to?
Get to Know the Area You're Considering Purchasing in Better if You Aren't Already Very Familiar
Especially if the area that you move to is flexible based on your job and you're considering where in the country to move, seek to gain a higher degree of familiarity with the area(s).
Related:
Recommended:
If Using a Trust, Business, Power of Attorney, or Other Entity in a Purchase, Get Documentation to Your Agent
I've seen situations where a buyer had no access to the documentation that proved their relationship to something like a trust because they were visiting from out of state and left that information at home, with no digital copy. Especially if you don't have checks accessible from that business, trust, or other entity, be sure to get information such as the articles of incorporation for businesses to your agent in advance of showings. Then you won't be scrambling to find it once you're ready for an offer if it's not immediately accessible.
Consider Your Current Home & Market Forecasts
It's also a good idea to have at hand the appreciation forecast for the area in terms of seasonal trends and 1 yr national forecasts from Corelogic. If your payment will be going up on housing, see my article on avoiding payment shock.
If you're in a lease agreement:
Be sure to have the information on lease-breaking penalties.
If you are a homeowner looking to sell:
If you are in another area and haven't engaged a Realtor yet, let me know. I can often provide a referral around the world. If you need help selling in SE VA, I also engage in sales. Here is information on buying and selling around the same time.
If you're a homeowner looking to rent:
Be sure that you're able to rent & buy something else.
Related: Advice for Renting Out Your Home
Be Prepared for an Expeditious Offer & Consider Seeing Multiple Properties on Day 1
Once you perform an expeditious showing, then part of a winning strategy is about an expeditious offer if you decide that a property is for you. That's one of the reasons why it's best to see multiple properties the 1st day that you see a property. It's hard to be expeditious when you've only laid your eyes on a single property you're considering & when you've never looked at an offer before nor shared some of your default preferences for offers that won't change no matter the property.
Additional Preparations
See the following resources:
If you'd like additional suggested preparations, let me know. If you request it, I can send additional preparations prior to showings or buyer brokerage. In addition, after buyer brokerage, I can send you a form for your offer preferences.
Optional:
Consider a Pre-Offer Inspection
While pre-offer inspections are somewhat rare in some markets (i.e. Hampton Roads), other markets (i.e. Greater Richmond & areas outside of Hampton Roads in SE VA using VAR contracts) have contracts that make it much easier to be protected even without a full-blown house inspection. In those locations, pre-offer inspections are more common. CVR (Greater Richmond) & VAR contracts allow limited scope inspections of certain critical infrastructure of a house by default, even in cases where the offer isn't contingent on inspection.
In markets where the contract has such protections, consider a pre-offer house inspection to be competitive if you are expecting a multiple offer situation.
In markets without those contractual protections, if you are ever considering an offer without an inspection, while less common, a pre-offer inspection can be even more important.
Related:
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