Your Guide to Using an Experienced, Independent Transaction Manager
As a busy REALTOR®, you wear so many different “hats,” and it can be a challenge to manage the details of all of your transactions while continuing to fill your pipeline and provide exceptional services for your clients. Between prospecting, initial meetings, showings, writing offers, attending inspections, and closings, your time for the details quickly diminishes.
This is where Real Advantage Transaction Management (RATM) will have a direct impact to streamline your process and free-up your time.
Do you want to know the best way to relieve your stress and enhance your business? Leverage RATM’s proven systems and Transaction Coordinators (TCs) to manage the details, deadlines, and communication involved in your transactions. We go beyond emailing paperwork from one person to another — we are a full service Transaction Management company with first-hand Real Estate experience to add value to your business and provide knowledgeable assistance to you and your clients.
Let’s be honest — no one understands the intricacies, processes, and emotions involved in Real Estate the way a REALTOR® who is out selling homes does. Our team is comprised of TCs who are knowledgeable and experienced in the Real Estate industry and who are committed full-time to managing YOUR transactions. We are here to make YOU look like the professional that you are to other agents, title companies, lenders, inspectors, and most importantly, your clients. Allow our industry and process knowledge to enhance your business and brand!
One of the biggest factors to success when working with a RATM TC is communication — the more we know, the better we can assist! Please be sure to copy us on all email communication, so we can track the conversations and progress as the transaction moves towards closing.
Our Transaction Coordinators work full-time and have business hours from 8:00am-5:00pm Monday through Friday. We make absolutely every effort possible to respond to all emails the same day we receive them and to get new contracts out to all parties as quickly as possible within 24 hours. If business-related correspondence is sent to a TC after business hours, it is handled promptly in the morning of the following business day.
Please note that we do not RATIFY contracts, write offers, or write listing agreements — this is the responsibility of the licensed REALTOR®. RATM TCs will always do a thorough review of your contract upon receipt and let you know of any missing information, signatures, initials, or documents.
Our Transaction Coordinators are not a party to the transaction and do not intend to “replace” the role of the agent or take on any liability. Agents will retain all responsibility for the contract and will take part fully in all negotiations — our role is to assist administratively to ensure contract tasks are performed and to monitor the deadlines to get you and your clients to the closing table.
Here is what your Transaction Coordinator will do to assist you and your clients:
Review the contract for completion/accuracy and alert the agent of anything that is missing
Send a copy of the ratified contract and all addenda to the Title Company, Lender, Cooperating Agent, your client, delivery addresses
Assist with scheduling Home, Radon, Well, Septic, Termite, and any other negotiated inspections at the request of the agent
Confirm delivery of the EMD and be sure all parties receive a copy of the check or wire receipt
Complete the Agent Information Sheet from the Title Company
Order the Home Warranty
Order and deliver HOA and Condo Documents
Schedule the Walk Through
Stay in contact with the Title Company to ensure they have all of the documentation needed to prepare the Settlement Statement
Obtain a copy of the ALTA/CD from the Title Company for the agent to review and approve
Stay in contact with the Lender to ensure the appraisal is ordered, in/through underwriting, and that the loan is staying on track per the contract deadlines
Track all contingency deadlines and remind parties, as necessary
We will prepare addenda as long as the agent provides the exact wording that is to be used
Obtain signatures and initials on necessary documents as approved by agent
Deliver addenda to necessary parties (title, lender, other agent, delivery addresses, etc)
Obtain Utility Information and send this information to buyers and/or remind sellers to transfer utilities out of their names when appropriate (after settlement or after a rent back)
Confirm that the CD is sent to and acknowledged by the buyers at least 3 days before settlement
Send all contract documents along with the executed Settlement Statement to your brokerage after settlement
Fully ratify the contract and complete all negotiations on behalf of your clients
Submit your ratified contract through www.RealAdvantageTM.com
Change the status in the MLS
Advise your client throughout the transaction
Prepare addenda or provide exact wording in writing for TC to write addenda for you
Lockbox and sign removal (unless RATM is assisting with your Listing Coordination — we will then order the sign installation and removal)
Helpful Tips to Ensure a Successful Transaction and Relationship with Your TC
Be sure to copy your TC on all emails throughout the transaction, so we can stay informed and not have to go back to you or others with questions. If you have a conversation with your client, the lender, the other agent, etc and your TC should know about the context, please call or email us, so we can stay “in the loop” and make notes in our files accordingly.
While we are available via text, we prefer communication by email and you can expect the quickest response to email communication, as well.
Your TC will send an introduction email to each client upon receipt of a ratified contract explaining who we are and how we are involved in the transaction. RATM will make it clear that we are a part of YOUR team and will send them a copy of the ratified contract along with a break down of the contingency dates/deadlines. It is a GREAT idea for you to reinforce to your client that your TC will be involved and assisting throughout the process and that we are all a part of the same team.
Once you have a ratified contract, please Submit a File. We do ask that you submit all contracts and listing agreements through our website, which has been designed to collect particular information that our TCs need to move forward with processing your transaction quickly and efficiently.
Are you ready to bring your business to the next level? Contact Real Advantage Transaction Management today to discuss getting started. We look forward to the opportunity to work with you and enhance your business!