Detailed checklists can be an invaluable tool for real estate agents at any point during a transaction
By Jason Henninger
Whether you’re a seasoned real estate pro or just starting out, having the right tools is crucial for success.
A checklist is a great tool for buyers, sellers and agents alike. It should document strategies designed to help you or your client manage time, resources and client expectations effectively, adding much-needed structure to transactions, which, as we all know, are rife with variables and unpredictable events.
For new agents, checklists ensure nothing is forgotten as you navigate the many challenges of making a sale. There’s value for more experienced agents as well. It’s easy to think, “I’ve been doing this for 20 years, and know everything that needs to be done.” But that overconfidence is a surefire way to slip up. Checklists can safeguard against blind spots.
Lists and sub-lists
You can develop a single master checklist for the entire process or multiple checklists for different stages of the sale. Here are a few types of checklists that may be helpful.
- Pre-listing checklist: Before a property hits the market, create a list of crucial tasks that must be completed, such as gathering all necessary documentation, setting a price and determining what repairs are needed.
- Marketing checklist: Marketing a property involves myriad tasks, including photography, creating the listing online and tracking relevant market platforms to post on.
- Open house checklist: An open house is often the first time that potential buyers will physically experience a property. Make it count with a comprehensive plan including promotions, preparing, cleaning and collecting contact information from prospective clients.
- Client communication checklist: Clear and timely communication with clients is a must. This checklist ensures you keep clients informed at every step of the process, from the initial meeting to scheduled updates, while keeping track of client feedback.
- Sellers and buyers checklist: Ryan Rohlf, CRS, broker associate and sales agent with the dsmSOLD Team at Keller WIlliams Legacy Group in Des Moines, Iowa, likes having multiple checklists for different stages, as well as having distinct lists for sellers and buyers. “We have a pre-templated email for both sides that goes out after the buyer or seller is under contract” he says. “For our sellers we have a pre-listing packet that details getting the home ready for sale and decluttering and staging prep. Additionally, when we meet with our seller clients, we review a game plan for timing out getting the home on the market. Once we are on the market, we keep them updated weekly on traffic on their listing, market trends and what we are doing to promote their listing. After they go under contract—both the buyer and seller—that’s when our templated email goes out what will happen next: earnest money, inspection, appraisal, title, etc.”
Be creative
The word “checklist” may evoke images of clipboards and pens. If that’s what works best for you, then stay analog. But plenty of other methods, including apps, may streamline the process for you. You’re not beholden to any specific method.
Paul Rich, CRS, associate broker at The Brokerage, A RE Firm in Henderson, Nevada, prefers making videos. “I have premade videos that outline each step of a transaction, from getting the offer accepted for a buyer to the closing date. A buyer and seller video could include what the next steps are to waiting for the inspection report to come back and what to look for,” he says. “I also discuss what a client should be concerned about while they’re waiting for the appraisal to come back. I talk about the importance of staying on top of the request from the lender and what it means to have a ‘clear to close.’ I will also outline the steps for the upcoming signing appointment. In other words, I help them anticipate the next steps. I have found that this has made transactions go much smoother and helps to avoid unnecessary stress and buyer’s remorse.”
Getting things in order
Time management is one of the strongest advantages of making a checklist, even one that is frequently updated. Lists assist with time blocking, a technique that ensures you’re allocating the necessary time to each item on your checklist without interruptions or distractions.
Cameron Engstrom, CRS, broker associate at Klein Real Estate in Vincennes, Indiana, uses checklists as a way to keep track of scheduled and significant dates. “Among the checklist’s many advantages, one that stood out for me was the inclusion of important dates,” he says. “By noting crucial dates, such as the inspection response due date and the projected closing date, I consolidated all essential information onto one page. No more scanning through the entire purchase agreement to locate dates—I could now easily reference one page and stay on top of the transaction.”
Revise and refine
The real estate market is fluid, and your checklist should be, too. Review your checklist after completing a series of transactions and update it as needed to include any new best practices or strategies you’ve discovered. While checklists are designed to bring structure to your work, they shouldn’t be so rigid that they limit your ability to adapt to unforeseen circumstances. Be prepared to modify your checklist when necessary.
One of the benefits of making a checklist is that it can reveal ways in which your plans can be improved. Whether you have one checklist or multiple, the list may best be viewed as a living document that you frequently revise and adjust. You may find that after blocking out a certain number of days for a task—drafting an online posting, for example—that the amount of time needed doesn’t match what was predicted. And it’s OK if it doesn’t work perfectly according to plan. In fact, that is great information. You can allot better time frames next time and reduce the chance of delays cascading.
You can use your checklist to track the success of specific steps. Did a particular marketing technique attract more interest in a property? Make a note to include it in your future checklists. Metrics can help you refine your checklist to better serve your clients.
You can also ask peers for input on your checklist. They may provide valuable insights and suggest tasks or approaches that hadn’t occurred to you. Don’t be afraid to tweak future checklists based on their valuable feedback.
Support your clients every step of the way by utilizing RRC’s Saving Center at rrc.savingcenter.net.
Photo: Getty Images/Thapana Onphalai
