Acting for Buyers Checklist

Practice Resources
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  • This is not an exhaustive list. These are examples of considerations you should think about when entering into agency relationships with buyers. Please check with your managing broker if you have questions about additional considerations when meeting with potential new clients.

Preparing for a buyer presentation:

Print off or download all required documents you review with your potential seller client including:
Disclosure of Representation in Trading Services Form
A written service agreement (if you are using one)
A FINTRAC Information form
Prepare a flowchart that informs the buyer of the buying process and associated costs

During a buyer presentation:

Review and complete the Disclosure of Representation in Trading Services form prior to providing any real estate services
Ensure you explain agency in detail
Review and complete the FINTRAC Information form with the consumer
Perform a LOTR search prior to drafting an offer or entering into a service agreement
If using a written service agreement, explain all terms of the contract so that the consumer is providing informed consent
Discuss with the buyer any potential conflicts that may arise and establish a process on how the buyer wishes to handle any conflicts should they arise
Determine the buyer’s needs and wants in a property
Discuss with the buyer the differences between a material latent and patent defect and what must be disclosed by the seller and their real estate professional
Discuss “deal breakers’’ for purchasing a property
Discuss financing and the buyer’s ability to buy
Discuss the pre-approval process and any other pertinent financial information
Discuss costs associated with purchasing a property
Explain the documentation used in the purchase of a property
Devise a communication plan with the buyer to keep them informed