As Transaction Coordinators, one of our consistent goals is to organize and streamline the Real Estate transaction. We have found that there are a few simple strategies anyone can use to ensure a smoother transaction. These systems are easy to implement, and will change the way you are managing your transactions from contract-to-close.
Prep the Paperwork
Everyone knows that whether you are buying or selling a home, there is a ton of paperwork involved in the process. As realtors, your clients are depending on you to ensure all of the paperwork is accurate. Here are some important things to remember when handling real estate documents:
Get all of the required paperwork signed and filed right away.
Make sure everyone's name is consistent throughout the documentation.
No alias, nicknames, or stage names are allowed when it comes to real estate transactions. The name listed on the buyer(s)/seller(s) government IDs must match the name on the paperwork.
If working with an LLC, ensure the Managing Member's name(s) are listed on the paperwork.
If any addendums or provisions are made throughout the transaction, keep all parties informed.
Use your Calendar!!!
The main reason most real estate deals do not close on time, is because the milestone dates are not accomplished in a timely manner. One of the most simple, yet powerful tips to ensure a smooth transaction is to use your calendar! Starting day 1, you should be adding all of the transaction milestones to your calendar. (Example: Deposit Due Date, Inspection Contingency Due Date, Mortgage Commitment Due Date, etc.) Once these dates are on your calendar, you know exactly what needs to be done and when!
*Expert Pro Tip- Add intentional follow ups/reminders to your calendar too!
Transaction Templates
While this last step takes some time, it is a game changer in the contract-to-close process. Although every transaction is different, there are some things that need to happen in (almost) every deal. For example, a buyer almost always need to submit a deposit. So having a go-to 'Deposit Reminder' email will allow you to effortlessly manage the transaction. You can build out templates for every predictable part of the transaction. By doing this, you are simplifying and streamlining the administrative side of the business.
If you would like to learn more about how our team utilizes these systems, feel free to contact us today!
コメント