Today we’re going to talk about transaction management. In real estate, you can be taught many things. However, being taught the whole job of selling real estate, servicing your clients, and getting contracts to close requires a lot of information.
I’ve chosen to take a team approach to this method. One of the most important members of my team is my transaction manager, Shelly. When one of my buyer’s agents finds a home for a buyer and has them sign a contract, that is scanned into our transaction management software and Shelly takes it from there.
From there, Shelly reaches out and lets the buyer know that she will be handling things for them from now on. She also makes sure the buyer is qualified for their loan, makes sure they know what documents they need to send to the lender, makes sure the appraisal gets scheduled and completed, coordinates any repairs, and negotiates if the appraisal comes in low.
She also coordinates things with the home seller’s real estate agent and is in contact with them the whole way through. The insurance agent is another important contact that she is in constant communication with. She will also make sure to check that the title is clear during this time and set up the home inspection.
After Shelly sets up the inspection appointment, she will negotiate the repairs on our agent’s behalf. If they want to be included in the conversation, she will certainly do that. However, the idea is that we want our agents to be able to hand that file to Shelly and help another buyer. This ensures that their income stream is a lot more steady than if they had to do all the details with the transaction as well.
Shelly is highly trained, efficient, and effective at closing transactions. That allows our agents to focus on what they do best and be able to show up to closing looking like a hero. You’re just the guide along the process.
If you have any questions about my transaction manager or about how my team operates in general, don’t hesitate to give us a call or send us an email. I look forward to hearing from you soon.