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Transaction Coordinator for Hire
- 1. Virtual Time Saver Your ProfessionalContract to Close And Transaction Coordinator Marle Sanders, REVA
- 2. Benefits of Hiringa Transaction Coordinator (TC) BIGGEST BENEFITS of using a Transaction Coordinator Time Savings! It’s estimated that the average transaction coordinator spends about 12.5 hours on a file. That’s 12.5 hours of work your TC will save you. That means the ability to use your time more efficiently on other transactions or simply spend more time with your family. Stress Reductions! The profession of a real estate agent is listed as one of the 10 most stressful jobs. When things get crazy and you’re putting out fire after fire, it is important to know that your TC is there to assist you.
- 3. Even More Benefits No Assistant Overhead No holiday pay No sick pay No health Insurance No paid Benefits of any kind And I work even when you don’t
- 4. My Personal Priorities Confidentiality All client information is kept confidential All Agent information is kept confidential Sign confidentiality form Customer Service Always make sure the customer is happy both client and agent Hand hold and walk client step by step through the buying or selling transactions once a contract is signed Ethics> You will find that I am Professional Honest Loyal Realistic Friendly Knowledgeable Fair Trustworthy Dependable Organized Compassionate Open to ideas and suggestions A good listener
- 5. What a Transaction Coordinatordoes for you Making the offer Submitting an Offer Agent submits a contract request form to the TC Agent submits a buyer information form to the TC Your TC will draft the contract, IBS, Third Party Financing and all other required addenda (HOA, non-realty items, etc.) request a pre-qual letter from the clients lender send all paperwork to buyer for approval and signature Send signed contract and all other paperwork to LA and monitor acceptance
- 6. What a Contractto Close Coordinator does for you When the offer is accepted Verify all signatures, initials and dates Execute the contract Coordinate pick up of earnest and option money from buyer to Title Company Send the executed contract to Title, Lender, LA and you Introduce myself to each party and let them know I work on behalf of you and to copy me on all correspondence Provide an Under Contract Contact list with all parties information and important dates Ensure receipted contract is obtained from Title Request all required documentation from LA, i.e. Sellers disclosure, survey, ECAD reports, LBP, etc.
- 7. Contract to Closecont. Schedule the inspection with preferred inspector Request CBS code, verify utilities are on, provide inspector with MLS and home info Send inspection date/time to buyer and LA follow up for written report and send to Agent and Buyer only Enter all events on Agent’s calendar End of Options End of Financing period Inspection date Walk Through / Final Walk Through Closing
- 8. Contract to Closecont. Assist with amendment writing and send to buyer and seller for signatures Execute and send amendments to Title Company and Lender, buyer and seller Follow up with LA on any repairs / receipts, if required Provide the buyer with Insurance referrals and ensure buyer obtains insurance Forward all Title work from Title Company to buyer Ensure all sellers disclosures, LBP and all other documents requiring signature are all signed by appropriate party and forwarded to buyer, LA, Title and Lender and you as required
- 9. Contract to Closecont. Order survey if needed and Home Warranty File all contract documentation in a shared folder for your access (Dropbox, Google-docs) Ensure all parties are ready to close and schedule buyer’s closing at buyer’s time preference Request HUD-1 and Final HUD Furnish Agent DA to Title for funding Confirm disbursement was paid Send Buyers a congratulations email Send Lender, Title and LA Thank you emails
- 10. Agent Responsibilities ReviewTitle work Review HUD 1 Answer all questions TC is not licensed to answer Negotiate Advise Provides TC access to MLS, Dropbox, Docusign, any software required to assist And most IMPORTANTLY KEEP YOUR TC INFORMED
- 11. Listings After the listingis acquired by Agent Your TC can: Upload your listing to the MLS, with pictures, virtual tour, sellers disclosure, survey etc. Order flyers, postcards, pictures, virtual tour etc. Place signs, lockbox and flyers on property Add listing to Agent website, craigslist, or other website Collect all signed listing documents from seller Inform sellers of showing appointments Sit in on open houses Mass mailing of “Just Listed” postcards Update sellers as necessary per your request Update MLS as required
- 12. Listings When an offeris received Forward new offer to Seller for review Initiate signatures and changes per your request Forward signed contract to buyer agent Wait for contract to be accepted and executed Request receipted contract from Title Introduce myself to each party and let them know I work on behalf of you and to copy me on all correspondence Provide an Under Contract Contact list with all parties information and important dates
- 13. Listings cont. When anoffer is received Enter all events on Agent’s calendar End of Options End of Financing period Inspection date Walk Through / Final Walk Through Closing Ensure receipted contract is obtained from Title Forward all required documents to buyer i.e.: Sellers disclosure, survey, LBP, ECAD etc. Update MLS status Request Inspection details, proved CBS code and notify sellers of dates Forward any amendments to sellers for review and signature
- 14. Listings cont. When anoffer is received Prepare any amendments as needed Notify Sellers of any scheduled repair work or contractor visits Forward any repair receipts or other required addenda to Title Forward any Title work to sellers Receive all documents signed by both parties File all contract documentation in a shared folder for your access Ensure all parties are ready to close and schedule seller’s closing at seller’s time preference Request HUD-1 and Final HUD Furnish Agent DA to Title for funding Confirm disbursement was paid
- 15. Listings cont. After theClosing Update and close MLS Remove Signs and lockboxes if required Send Sellers a congratulations email Send Title and Buyer agent Thank you emails
- 16. Agent Responsibilities ListingPresentations Provide Seller with Listing agreement Acquire the Listing Produce the CMA for Seller Produce the Net Sheet for Seller Advise Negotiate Provides TC access to MLS, Dropbox, Docusign, any software required to assist And most IMPORTANTLY KEEP YOUR TC INFORMED