COLLECTIVE AGENTS-You Have a Fully Executed Sale Agreement
Congratulations! You have a deal that came together.
Agents, here's what to do next—
NOTE: You will see several references to the email templates that we use. As a reminder, RG+ Co. Master Transaction Templates can be viewed here).
Save all transaction documents in Dropbox and share folder with TC Services at collectivetcservices@gmail.com. For instructions on how to add someone to a folder in Dropbox, click here.
Complete Collective TC Services Order form which can be viewed here.
OPTION: Send your client the email template "Next Steps After You Are Under Contract" to let them know the offer has been mutually accepted and introduce the TC
Stop Client Property Alerts (if applicable)
If you represent the buyer, send the "Scheduling a Home Inspection” email template to determine which home inspector will be used unless you have already discussed with client
After confirming which inspector will be used, order inspections
Once you have done the above, Collective TC Services will handle the following;
Separate, rename, and review docs for any missing signatures, etc.
Reconcile and notify broker of any required documents that are missing— Broker is responsible for completing all paperwork; once completed, TC Services can manage getting signatures
Change the status in the MLS to pending if you represent the seller
Turn Off Showing Time/Align Showings if this is your seller
Turn off ListTrac Seller Reports (if applicable)
Process the transaction—create a Sphere timeline, contact sheet and note any important contract details
Email or upload all fully executed transaction documents to Bolt/ReZen
Send opening emails using the below email templates:
To your client: “Congratulations on Your Pending Sale (For Buyer/For Seller)”
The cooperating agent: “Accepted Offer (Cooperating Buyer Agent/Cooperating Listing Agent)”
Escrow: “Opening Escrow”
Lender (if applicable): “Accepted Offer (Lender When You Represent the Buyer/Lender When You Represent the Seller)”
Request any incomplete or missing documents (as directed by broker) from the cooperating agent or client
Continue to follow up on anything outstanding (e.g. Seller’s Property Disclosures, , partially executed documents, etc.) until received
Send the escrow file number to clients using email template “Escrow File Number” once received from the escrow agent
Upload earnest money receipt to Universal Folder and add date to timeline so everyone is notified
If applicable in the contract, send the email template “Smart Home Feature(s) List (Request/Delivery)” to request and deliver a list of smart home features
When the Seller’s Property Disclosures are received and reviewed by broker for completion, add the property disclosure review contingency period to timeline
Once broker reviews and approves, deliver the seller’s property disclosure to either buyer or cooperating agent using email template “Seller's Property Disclosure Delivery (For Buyer/For Cooperating Agent)”
If applicable, when HOA docs are received, reviewed and approved by broker, send HOA documents to either buyer or cooperating agent using the email template “HOA Document Delivery (For Buyer/For Buyer - HOA Not Turned Over/For Coop Agent)”
Notify Seller (if your listing) of HOA Document Delivery to Coop using template "HOA Document Delivery Notification to Seller"
When the preliminary title report/title commitment is received from the escrow, save the report in the Preliminary Title Report subfolder
Add the title report revocation period date to your calendar and timeline
Send title report to client and cooperating broker using the email template “Preliminary Title Report + CC&Rs Delivery (For Buyer/For Seller/For Cooperating Agent)” - send any notes to the client that escrow sends after their review
Send repair receipts to applicable parties using the email template “Proof of Repair Completion” per broker instruction after their review.
Send any invoices to be paid out of close to the escrow agent per broker instruction
Send clients the “Preparing to Close (For Buyer/For Seller)” email template about 10 days before closing. This provides a utility list, information on signing, home warranties, personal property clarification, keys, etc.
If there is a post-close occupancy agreement in place, send seller or the cooperating agent representing the seller the “Proof of Insurance (Request)” email template to obtain confirmation that the renter’s insurance is in place
Provide the proof of renter’s insurance to the buyer or cooperating broker representing the buyer using the “Proof of Insurance (Delivery)” email template
Do a final reconciliation of documents to ensure there are no outstanding documents, signatures, or items needed. If anything is needed, request/send it to the appropriate parties
Send the cooperating agent the “Preparing to Close (For Cooperating Buyer Agent/For Cooperating Listing Agent” email template 5 days before closing— this ties up loose ends and ensures everyone is on the same page regarding personal property, keys, etc.
Once broker validates commission, REAL will generate commission demand after required transaction docs are approved and Admin will submit it to escrow
Once escrow sends a notification of transaction recording, check with broker to be sure they have communicated this to the client, then send email template “Client Closing Notification (For Buyer/For Seller)” to client
Update client contact record in Sphere— new address, housiversary, add needed notes, etc.
Send or upload any remaining or final documents to Bolt/ReZen to close out the file (e.g. settlement statement)
Change the status in MLS if representing the seller
Although our TC Team does a lot of the heavy lifting, Brokers will still have to manage the following, but don't worry if you continue to monitor the Transaction Checklist in Sphere, it will outline what tasks need to be completed. As a note, you may decide not to complete all checklist items, but please know that TC Services will only be handling the items above.
Broker to verify commission splits in Sphere and validate commission in Bolt/ReZen
Review Seller’s Property Disclosures for completion and notify TC Services that they can be delivered to appropriate parties
If applicable, reconcile HOA Documents to ensure everything has been provided and notify TC Services that they can be delivered to appropriate parties
OPTION: If you represent the buyer, send the "Scheduling a Home Inspection” email template to determine which home inspector will be used unless you have already discussed with client.
Order inspections.
OPTION: Discuss home inspection and needed next steps/repairs with the buyer, follow up with the email template “Buyer Home Inspection Recap” to provide a summary of items discussed
Verify Smoke and Carbon installation per contract
OPTION: Advise all parties on any scheduled repair estimates using the email template “Repair Estimate Scheduling”
Complete repair negotiations
Confirm all repairs have been completed and reconcile repair receipts/photos (TC Services can deliver to appropriate parties as directed by broker)
Schedule and confirm appraisal (and results) and delivery of closing disclosure
OPTION: Use the email template “Home Insurance Recommendations” to provide your buyer with insurance agent/company recommendations for the homeowner's policy they will need to obtain
Order sign removal (if applicable)
Coordinate staging removal (if applicable)
Ok....your transaction is closing. Agents, here are a few reminders:
Coordinate key exchange with the cooperating agent and client
Remove the lockbox from the property if representing the seller
Request client referral/review
Send Thank You card to client and coop agent
Update client info in all systems (other than Sphere)
