Transaction Coordinator Training (FL)

Introducing TC to New Accepted offer

Expectations when using a TC:

The TC is to help navigate the transaction from the fully executed contract to closing. She is not the agent for the file you are! So, you are ultimately responsible for the deal! The TC is the advocate for you and your client to move the transaction forward and keep it on track she is not the agent, so you still need to know what’s going on with your deal and ensure she knows exactly what’s going on as well so COMMUNICATION with TC is MANDATORY (THERE ARE NO EXCEPTIONS!). TC will be periodically sending emails to you, the client, title, attorneys, agents representing the other side so make sure you are reading them, so you do not miss any steps that are necessary to keep moving the process forward. Last thing you want is to be the one holding up your own deal. TC needs to know when inspections are schedule and completed, when appraisal is scheduled and completed and must be cc’d on all emails you receive. If she is not emailed on them then you must forward those emails to her as well, so she stays in the loop as much as you are. You as the agent are responsible for making sure all items are in the dot loop files and are held responsible for those files or missing documents prior and after closing. TC will make sure all documents are in the dot loop files at closing for compliance anything missing in the file will hold up your checks for payment. Should you have any issues during the transaction with buyer/seller or agent that could possibly be a lawsuit later please ensure all texts, emails and documentation for that certain matter is put in the dot loop file so we can access if need be.

Now that you understand your expectations let’s get started!

Step 1: You must have a fully executed signed contract before you can introduce the TC – Fully executed means signed by both buyers and sellers. Add the fully executed contract to dot loop and archive the unsigned version.

NOTE: When negotiating the deal initially please try to have the commitment date at least 3 days prior to closing date. Mandatory!

(If your lenders states they can close in 30 days please either change your commitment date to 25 days or make sure your closing date is 35 days from effective dates.

Step 2: Make sure your dot loop file has the following documents before submitting your file for TC to start transaction

Fully Executed Standard or AS -IS Contract
All Fully Executed addendums to the contract
Proof of funds
Seller’s disclosure Fully executed
PACE addendum Fully executed if applicable on buy side is required on list side
All fully executed Required Company Documents
MLS Listing form Stellar MLS

In the people sections of follow up boss you must have contacts added for the following in People See screen shot below:

Lender contact information
Inspector Contact information if you have it scheduled already
Escrow/Title contact information

Also make sure you have your View details section completed as well especially the MLS number

Do not in view details have the closing date as on or before, only show commission to the agents as 3% do not add the $295 to that section. The $295 Transaction fee should be noted in the commission notes section only with who is paying for it.

Step 3: Open Follow up Boss –

Open your client’s information in FUB (who you represent)

Change the stage to Under agreement

Add Rosanne Linders/or current TC as Collaborator (located on left side of FUB file)

Click on Deals (located above Collaborator on the left side) click the + sign. Here you add the property address (check green check mark so it saves). Add if client is buyer or seller and change to under contract. Input the purchase price the property got accepted for (check green check mark so it saves). Input close date (check green check mark so it saves). Add total commission amount (check green check mark so it saves). Add agent and Co split (check green check mark so it saves). If you have any pertinent notes you need to remember for this deal, please list under description such as $295 transaction broker fee paid by etc. (check green check mark so it saves)

Step 4: Download the MLS listing in MLS and add to your dot loop file

Step 5: Go back into Follow Up Boss go into the templates for emails to send and email from your client’s file.

Click templates: click on either List side Introduction emails or Buy side Introductions emails depending on who you are representing. See screen shot below

There will be 2 email templates labeled

Rosanne to Client
Rosanne to List agent

You will be using both emails to start the introduction process to both your client and to the agent who either has the buy side or list side.

When Using Rosanne to Client:

This is a canned email to change the verbiage according to the transaction – READ IT (Understand why you’re sending this) Make sure to cc: Rosanne to the email. Make sure in subject of email you remove insert address and add correct address of the property. In greeting add your client’s name.

Add under the introduction canned section before signature as show in screen shot below:

Important Dates to know

Effective date: add date (not # of days)

Earnest Money deposit due: add date (not # of days)

Amount of Earnest Money: $

Inspection date due by: add date (not # of days) (if you already have a date and time set up for inspection with the inspector please put here as well with name of inspector)

Loan commitment date: add date (not # of days)

Closing Date:

Commission splits: Buy side and/or List side and state if there is a transaction fee and who is paying it

Name of the Title Co

Add the following attachments to the email before sending:

Fully Executed contracts with all addendums
MLS Listing from Stellar MLS showing commissions

When Using Rosanne to List Agent: