Real Estate Cheat Sheet

VIRTUAL ASSISTANTS CORE VALUES
 COMMITMENT: A VA should be dedicated to the client's business as if it's their

own.
 FOCUS: A VA should concentrate on their tasks, prioritize effectively, and
manage their time efficiently.
 DISCRETION AND CONFIDENTIALITY: A VA should handle the client's
business information with care and keep it confidential.
 ATTENTION TO DETAIL: A VA should be good at noticing even small details.
 CAN-DO ATTITUDE: A VA should have a positive and proactive attitude.
US REAL ESTATE INDUSTRY LATEST MARKET UPDATE
In the US, fewer people bought homes in September, and overall home sales this year
are lower than last year. This is because there aren't enough homes for sale, and
they're becoming more expensive. The average home price is $394,300, so more
houses need to be built to make buying homes affordable.
In the commercial real estate market, apartments are in demand because of high
mortgage rates, but too many apartments can lead to empty ones, affecting rent growth.
Office spaces are challenged due to COVID-19, with more people working from home.
Industrial rent prices are rising, but not as fast as before. Retail stores are doing well
with low vacancy rates. The hotel business is slowly improving, but not fully recovered
from COVID-19.
US REAL ESTATE SELLING AND BUYING PROCESS
For Buyers:
1. Determine Your Budget: Before you start looking for a property, it's essential to
determine your budget. This includes assessing your financial situation, getting
pre-approved for a mortgage, and understanding your down payment and
monthly payment limits.
2. Hire a Real Estate Agent: Many buyers choose to work with a real estate agent.
They can help you find suitable properties, negotiate offers, and navigate the
entire buying process.
3. Search for Properties: Begin searching for homes that meet your criteria, such
as location, size, price, and features. You can use real estate websites, attend
open houses, and work with your agent to find suitable listings.
4. View Properties: Schedule viewings of the properties you're interested in to

assess their condition, layout, and whether they meet your needs and
expectations.
5. Make an Offer: Once you find a property you like, you'll make an offer to the
seller. Your agent can help you draft the offer, which includes the purchase price,
contingencies, and other terms.
6. Negotiate: The seller may accept your offer, reject it, or make a counteroffer.
Negotiations can go back and forth until both parties reach an agreement.
7. Get a Home Inspection: After an offer is accepted, you'll typically have a period
to conduct a home inspection. This helps you identify any issues with the
property and can be used to negotiate repairs or a reduction in the purchase
price.
8. Secure Financing: Once your offer is accepted, you'll need to finalize your
mortgage loan. This includes submitting all required documents to the lender and
having the property appraised.
9. Finalize the Purchase: Before closing, you'll need to secure homeowners’

insurance, complete a final walkthrough of the property, and make sure all
contingencies are met.
10. Closing: At the closing, you'll sign all necessary documents, pay closing costs,
and take ownership of the property. Your lender will also disburse the funds for
the purchase.
For Sellers:
1. Determine Your Selling Price: Work with a real estate agent to determine an
appropriate listing price for your property based on market conditions and
comparable sales.
2. Prepare Your Home: Get your property ready for sale by cleaning, decluttering,
and making any necessary repairs or improvements.
3. List Your Property: Your agent will create a listing for your property, which will
be published on multiple listing services (MLS) and other real estate websites.
4. Market Your Property: Your agent will market your property through various
channels, including open houses, online listings, and other advertising methods.
5. Receive and Evaluate Offers: When buyers submit offers, you and your agent
will review them. You can accept, reject, or make a counteroffer.
6. Negotiate: Negotiate with buyers until both parties agree on terms, including the
purchase price, contingencies, and the closing date.
7. Home Inspection and Repairs: After an offer is accepted, the buyer will typically
have a home inspection. You may need to address any issues that arise during
the inspection or negotiate repairs or price reductions.
8. Cooperate with Buyer's Financing: Work with the buyer's lender to provide any
requested documentation and facilitate the loan approval process.
9. Finalize the Sale: Complete any remaining tasks, such as providing the
necessary disclosures, and prepare for the closing.
10. Closing: At the closing, you'll sign the necessary documents, transfer the
property's title, and receive the sale proceeds.
REAL ESTATE AGENT, BROKER, AND REALTOR
A real estate agent is an individual who has obtained a state license to assist buyers
and sellers in the process of buying or selling real estate.
A real estate broker is a step up from a real estate agent in terms of education,
experience, and licensing. Brokers are licensed to operate their own real estate
businesses or work as the supervisors of real estate agents.
A Realtor is a real estate agent or broker who is a member of the National Association
of Realtors (NAR), a professional organization for real estate practitioners.
CANVA - HOW TO MAKE REAL ESTATE SOCIAL MEDIA POSTS
https://thepaperlessagent.com/blog/canva-for-real-estate-agents/
Zoom allows users to create and join virtual meeting rooms where they can
communicate with each other using video, and audio. Additional features can give
participants the ability to share their screen, share files, and use text chat within the
meeting group or privately with others in the meeting.

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What are the core values of a virtual assistant?

What are the typical steps for buyers in the US real estate buying process?

VIRTUAL ASSISTANTS CORE VALUES

 COMMITMENT: A VA should be dedicated to the client's business as if it's their

US REAL ESTATE INDUSTRY LATEST MARKET UPDATE

US REAL ESTATE SELLING AND BUYING PROCESS

4. View Properties: Schedule viewings of the properties you're interested in to

9. Finalize the Purchase: Before closing, you'll need to secure homeowners’

REAL ESTATE AGENT, BROKER, AND REALTOR

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