Time is Money

As a real estate agent you are responsible for marketing, prospecting, customer service and paperwork. The most successful agents have a strong network that provides them a steady source of leads. They continually grow their network.

Market research indicates that the average real estate agent spends nearly 20 hours on transaction coordination work.  The most successful agents have someone managing this for them so they can spend more time prospecting.

Transaction Coordination Services

We manage the transaction by focusing on four key activities:

Escrow

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      • Open escrow.
      • Coordinate with the seller, buyer, agents, escrow, and various third parties.
      • Review the purchase agreement for completeness.
      • Ensure the buyer's earnest money deposit is in escrow on time.
      • Make sure the buyer's earnest money deposit is subject to forfeiture if the buyer fails to perform.
      • Review the escrow instructions for errors.
      • Draft the Seller's Disclosure Packet
      • Draft addendums.
      • Monitor deadlines during the contingency period and provide a demand notice to the buyer if timing isn't met.
      • Ensure the loan contingency removal is tracking on time.
      • Ensure the loan underwriter has the various certificates and clearances needed.
      • Obtain the contingency removal form by the contingency removal date, or serve the buyer a notice to perform.
      • Deal with the request for repair process or waivers.
      • Obtain other waivers where applicable.
      • Coordinate the final walk-through.
      • Document communications among the parties.
      • Audit the file prior to close of escrow to ensure all paperwork is complete.
      • Ensure tax withholding exemptions, such as Foreign Investment in Real Property Tax Act (FIRPTA), are complete.
      • Create a complete file for the client, typically in electronic format, which will help with IRS filings the following April.

 

Documentation

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    • Verification of necessary signatures, initials and addenda on contracts.
    • Complete commission disbursement forms.
    • Draft the Seller’s Disclosure Packet.
    • Draft addendums.
    • Monitor deadlines during the contingency period and provide a demand notice to the buyer if timing isn’t met.
    • Ensure the loan contingency removal is tracking on time.
    • Ensure the loan underwriter has the various certificates and clearances needed.
    • Obtain the contingency removal form by the contingency removal date, or serve the buyer a notice to perform
    • Deal with the request for repair process or waivers.
    • Obtain other waivers where applicable.

Transaction Communications

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    • Regularly update & maintain communication with clients, agents, title officer, lender etc.
    • Coordinate the final walk-through.
    • Document communications among the parties.
    • Audit the file prior to close of escrow to ensure all paperwork is complete.
    • Ensure tax withholding exemptions are completed.
    • Create a complete file for the client, typically in electronic format, to help with IRS filings.
    • Provide weekly summaries with the status of each transaction and deadlines.

Scheduling

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    • Coordinate title/escrow, mortgage loan, and appraisal processes.
    • Coordinate inspections, assist in repair negotiations and coordinate the completion of repairs.
    • Submit all necessary documentation to office broker for file compliance.
    • Coordinate moving/possession schedules.
    • Schedule, coordinate & attend closing process.
    • Input all client information into the client database system

Services

Contact Us

801-472-6448

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