Real Estate Checklists

Efficient and seamless real estate deals from listing to closing using real estate checklists

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Published November 22nd, 2020

What are Real Estate Checklists?

Real estate checklists are tools used by real estate agents, brokers, realtors, and other professionals involved in the buying and selling of real estate. Depending on the type of real estate checklist being used, they also serve as a guide for seamless and transparent transactions between real estate professionals and prospective buyers.

In this article, we will briefly cover the following:

Real Estate Professionals

The business of buying, selling, and maintaining the good condition of real estate entails a lot of coordinated effort among many professionals in the industry. Here are some of the real estate professionals that help make the buying and selling of properties possible for property owners and prospective buyers:

Agents – Real estate agents are licensed professionals who work very closely with buyers and sellers of property. Those who are selling their property typically partner with seller’s agents or listing agents while those who intend to buy real estate consult buyer’s agents or selling agents.

Listing agents help advertise the sale of real estate and they assist property owners in getting the best price possible.

Selling agents or buyer’s agents help prospective buyers find the ideal property based on the buyer’s preferences. Buyer’s agents coordinate with seller’s agents on the selection, inspection, and negotiation of properties up for sale.

Realtors – Realtors are real estate agents who are active members of the National Association of Realtors. They carry out the same responsibilities of buyer’s and seller’s agents and they are bound by a code of ethics that aim to prioritize their client’s best interests.

Inspectors – Handling one of the most crucial roles in making sure that properties are in compliance with regulations, inspectors check and help confirm that properties are in good livable conditions. They conduct home inspections, checking the property’s structure, HVAC, floors, and other features to help ensure that the real estate is indeed meeting the potential buyers’ expectations.

Inspectors are typically called to inspect the property right after an offer has been agreed upon by both buyers and sellers but before a real estate contract is signed by both parties.

Examples of Real Estate Checklists

Real estate checklists help promote a To make sure that a property meets the prospective buyer’s expectations and that the real estate professionals involved are compensated accordingly.

Real Estate Listing Checklist

Used by listing agents when a property is about to be advertised for sale, a real estate listing checklist guides seller’s agents with what tasks to accomplish to make sure that enough information is gathered about the real estate for pre-listing, listing, marketing, and closing.

Real Estate Transaction Checklist

A summary of important steps throughout the process of selling and buying real estate—from listing to receiving the initial deposit or earnest money and signing the contract—a real estate transaction checklist can help seller’s and buyer’s agents get an overview of the steps in completing a real estate transaction.

Real Estate Buyer Agent Checklist

Also called a buyer agent contract-to-close checklist, this type of real estate checklist is used by buyer’s agents or selling agents at the last stages of acquiring the property. Terms have been agreed upon by all concerned parties at this point and among the remaining tasks of the buyer’s agent are finalizing paperwork, submitting the option money to the seller’s agent, and attending the closing date.

Real Estate Seller Checklist

Used by seller’s agents or listing agents, the counterpart of buyer’s agents or selling agents, this type of checklist caters to the needs and responsibilities on the side of the seller. The seller’s agent will remit the option check to the seller, coordinate with the buyer’s agent to schedule the closing time with the title company, and attend the closing date.

Real Estate Due Diligence Checklist

A very detailed checklist on everything about the real estate and the seller (with respect to the property), a real estate due diligence checklist covers the property’s details, how the property is run, environmental aspects, legal information, utilities, and other information concerning the real estate.

Powerful Tool for Real Estate Professionals

Juggling the multiple responsibilities and working with several persons involved in the buying and selling of real estate requires a lot of time, effort, and coordination. Utilizing a powerful tool like iAuditor by SafetyCulture can help real estate professionals better manage and track responsibilities in order to have more time to allot for other things. With the iAuditor mobile app, real estate professionals can:

  • Be on top of what needs to be done—real estate agents and inspectors receive notifications when a task is due.
  • Easily generate and submit reports using the iAuditor mobile app in order to update concerned parties.
  • Include photos on inspections using mobile devices, particularly helpful for inspectors to give more context on findings during inspections.
  • Benefit from automatic recordkeeping where records are easily accessible for authorized persons anytime, anywhere.
  • Create or edit downloaded real estate checklists on iAuditor, no coding skills needed.

Author

Erick Brent Francisco

SafetyCulture staff writer

As a staff writer for SafetyCulture, Erick is interested in learning and sharing how technology can improve work processes and workplace safety. Prior to SafetyCulture, Erick worked in logistics, banking and financial services, and retail.