Why manage the file yourself, when you can Hire a TC?

Transaction Coordination Services

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Table of Contents Our Mission Statement 3

Why hire a TC 4

“Us” vs. “The other Guys” 5

Selecting the Right TC 8

TC Myths & Truths 9

Details on our TC Process 11

Can one agent do all this? 12

Example Checklists 13

What’s Included 14

Communication Standards 16

Understanding Inspection Options 17

Getting Started with Us 20

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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o help our clients with their Real Estate needs and provide them with an unparalleled customer service experience on a consistent basis. ur mission is intentionally simple. We realize that you are going to see our passion for Real Estate and our clients reflected in our daily actions more than our written words. We are excited to have you as a potential client and we hope that you find this information on The Maximizing Team Transaction Coordination helpful. We look forward to serving you.

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onsider this, each transaction you get will take an average of 20 hours to process from start to finish. Those are 20 hours for each file that you are not out producing more leads.

The real estate market is always evolving & we’ve come together as a team to provide our clients with the best information & service available. We understand how overwhelming it can be to manage a file & produce more leads.

Our extreme organization level & passion for supporting agents like yourself, provides our clients with the freedom to focus on what is most important… your business! An Agent who is attempting to do everything on their own is not as fully capable of providing the best service on a great & consistent basis.

ere confident in the level of service we provide our clients and we guarantee satisfaction when you choose to use our Transaction Coordination Services. To back this up we build into every TC agreement a clause which states that if you, the client, are not satisfied with the level of service being provided, you can cancel the TC agreement at any time. Our goal is to never have someone use this clause but it is there for your peace of mind.

You won’t find this clause standard anywhere in the market but we believe any company that is going to talk the talk about being great at customer service should be willing to guarantee their clients satisfaction without hesitancy.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

Why hire a TC?

C The Maximizing Team Guarantee:

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ypically one agent tries to operate his/her own business without the use of a team and consequently they are often working on their business tasks rather than on their clients needs.

e have a team based approach and proven systems so you can spend your energy on your clients needs rather than on business tasks best done by someone else. Agents who try to do it all on their own will eventually provide poor service to their clients which will in the end cost clients money. With our transaction coordination services this is avoided and the agent is able to focus on the client.

Benefit to you: You’ll always be available for your clients & able to go out and produce more business for yourself.

 

 

 

 

 

 

 

 

 

 

 

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

“The Other Guys”

Our Service

vs.

“The Other Guys”  

The Maximizing Team

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hen it comes to the systems used to keep a file organized, many others have 1 technique that often times has many “holes” in it OR they simply have a hand written piece of paper with a few notes and deadlines written on them. This can create many issues & allow important information to slip through the cracks.

e have multiple proven systems in pace that allow both the agent and the TC to get immediate answers on any questions on the file as well as maintaining an accountability for the TC.

Benefit to you: We provide our clients with the peace of mind knowing they can access the file at any point and have their answers right away. Ultimately you are the agent who is responsible for your clients transaction & you need to know your file is in good hands.

ransaction Coordinators will typically do the minimum continuing education required to keep their clients happy IF any. MANY transaction coordinators will have LITTLE to NO knowledge of Real Estate law.

e love learning and we’re always seeking to find new courses to expand our minds and give us new ideas that can serve our clients.

Benefit to you: We’re always learning new ideas that help our clients and our TC’s, although not licensed real estate agents, do have a very good working knowledge of Real Estate Law.

 

 

 

 

 

 

 

 

 

 

 

 

   

 

 

 

 

 

   

 

 

 

 

 

 

 

 

 

Systems: The Maximizing Team “The Other Guys”

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Continuing Education: “The Other Guys” The Maximizing Team

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any transaction coordinators do not have the time, experience, or desire to stay current with technologies so they just continue doing what they have always done leaving the client missing out on the best way to manage a file from start to finish.

e utilize technology to process the file & provide the agent with full access if desired. In addition, we use technology such as EContracts to handle all the signatures and transfer all documents electronically.

Benefit to you: Signing contracts electronically keeps things simple and environmentally friendly throughout the process & easy for the TC to gain access to the documents. Along with other technology systems we use, our files are the most organized you will find.

 

 

 

 

 

 

 

 

 

 

 

 

   

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

The Maximizing Team “The Other Guys”

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Technology:

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hether you choose to use The Maximizing Team to process your file or not these are the following questions you should ask any TC which you interview. When you pick a TC you are selecting the person that will represent you & your file in the transaction from start to finish. So, be informed and choose wisely!

Does the TC work full time? Does the TC have the experience needed to represent me well? How will the TC keep me informed on the status of my file? Does the TC have a team to support him/her with all the details involved in the transaction? Does the TC have a defined system for me to review?

Do I feel comfortable with the TC and will they be someone I will work well with?

Does the TC have references I can call? Does the TC have a defined method of communicating with me regularly? Do I have a good “gut feeling” about the TC and do I trust them? Am I selecting the TC solely because I know them or will they “Save” me time & energy?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selecting the Right TC

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t’s not necessary to manage every detail of the file as long as I get the signatures. I can always do amend / extends.

n every transaction it is vital that all deadlines & details of the contract are managed. The other agent / side can use any mistakes against you & it could cost you the deal or risk a complaint.

Transaction Coordination

Myths & Truths

inding a reliable transaction coordinator is easy, there are several out there & I can get a referral from a colleague.

here are a lot of awesome transaction coordinators out there but the truth is there are more bad ones then good ones. You could rely on a referral but then you are relying on someone else’s experience rather then researching a TC for yourself. The best way to ensure a great TC is to research, and experience. Your file & your reputation should not be worth the risk of having someone manage your file who might not be the best fit for you.

 

 

 

 

 

 

 

 

 

 

 

     

 

 

 

 

 

 

   

 

 

 

 

 

 

 

 

 

Myth Truth

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Myth Truth

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hort sales are not one of the files that a TC can handle so I don’t use one, I cant risk that something will get missed..

hort sales can be a lot of work to manage all the documents & deadline and can be underestimated by the TC. If you have a short sale file and want to use a TC there are some out there that have Short Sale knowledge & are able / willing to process these files. Typically it will cost a little bit more but there are TC’s that can handle these files.

ith everything I can find on the internet and with my own experience & personal assistant I don’t need a Transaction Coordinator. It doesn’t take that much time or energy to manage a file.

nformation on managing your own file can be found on the internet and yes you can process your own file or have your personal assistant do it, however there are risks with that. 1. The Information on the internet may not be accurate for Colorado Real Estate laws and requirements, 2. Your personal assistant will probably not have the systems in place to manage the file without issues, and finally, 3. If you are spending the time to process the file yourself, you are not spending that time bringing in new deals to your pipeline or maintaining your client relationship. A TC will typically spend on average 20 hours per file making sure all deadlines are met, all required documents are in, scheduling the closing, and overall management of the file.

 

 

 

 

 

 

 

 

 

 

 

 

   

 

 

 

 

 

   

 

 

 

 

 

 

 

 

 

Truth Myth

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Myth Truth

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ON OUR TC PROCESS

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Can One Agent do all this? (and still have time to properly manage their files)

That’s why you need a Transaction Coordinator!

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ere are some examples of the spreadsheets and checklists we use to manage and process our files. Remember, each file gets personally managed and each file gets personally maintained by our Transaction Coordinators. All information is kept in the file & is available to the agent at any time.

he two checklists above are our most common used checklists. These will appear in every file. The one of the left is the document check in list, this ensures that all documents are received, in file, & have all signatures. The checklist on the right is used for closing. This list has all parties information, details of the transaction like UC price, loan amounts, etc. Both are vital in maintaining the file to our standards. Other spreadsheets & checklists will be in the file as well, for those details see next page.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Example Checklists H

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anaging the documents is a vital key to ensuring that all parties are following the CREC rules. Missing a document or a signature on a document can cause serious issues down the road. We include in every file a Document check in list which ensures no documents are forgotten.

Actual Form in File

Online Calendar System eeping up with the deadlines that are

associated with a contract is essential for all parties involved. Even with an amend/extend, if a deadline is missed the other party is not obligated to grant an extension. Deadlines are there to protect both parties. We inform our clients 24 hours prior to a deadline so all action can be taken to meet it.

Online showing tracking & print out in file

any companies have a showing agency that keeps track of all showings & feedback BUT if you are a small company or have showings scheduled in house we offer a system to track all showings, how many days on market, average showings per day, price changes, & record of all showings during that time.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

What’s Included 

Document Check In

Contract Deadlines

Showing Log (if applicable)

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Actual Conversation with all Parties nce the Buyer has selected a Home Inspector we will coordinate with the Sellers, Buyers, and Inspector for entry into the property. We will also make sure Seller has all utilities on for inspection.

Actual Form in File

aking sure the file has been processed correctly and getting all parties to the closing is the last step in TC services. Once we have reviewed the file & all documents are present, we will coordinate the closing with all parties and have the file prepared for closing. We have a closing checklist that will stay in the file and once all closing documents have been received and verified with the checklist we will turn the physical file over to you for your managing broker to keep in office per CREC Rules & Regulations.

$100 / ANY Processed file past inspection that doesn’t make it to closing.

$250 / Successfully Closed File

$400 / Short Sale Successfully Closed File

 

 

 

 

 

 

 

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Inspection Coordination (buyers)

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Closing Coordination / Checklist

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e are always available for our clients and any questions they have. Because we have a high level of standards when handling someone else’s file, we are always available in one form or another for questions. We never want our Clients to feel neglected or in the dark so we have the following regularly scheduled communications in place:

WHAT ARE THE STANDARDS WITH COMMUNICATION:

1. Client updates every week on Mondays during the “Under Contract

Stage” to discuss progress with Client & to review upcoming Contract Deadlines. Communication will be sent via email unless otherwise requested by Client.

2. Minimum of 1 form of communication per week unless Client calls / emails with specific questions.

 

 

 

   

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Communication with Clients 

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INSPECTION OPTIONS

BEING INFORMED IS CRITICAL t The Maximizing Team we pride ourselves in helping our clients with their clients homes inspected prior to their earnest money becoming non-refundable. Below is a list of inspections Your Clients can choose from. It’s a long list but don’t worry, we’ll coordinate everything for you. Compare all these options below to what most brokers provide, which is just one general home inspector.

This is a home inspector who goes over the whole home, points out any issues and provides us with a comprehensive written report we can use to negotiate with the Seller. I very strongly recommend this be done. I estimate it will cost between $300-$500 for most homes but it may be more in higher price ranges.

General Inspection:

High levels of radon can cause cancer if someone is exposed to it over a long period of time. See more info in this packet about radon. If you are concerned about it the cost is $20 for a test and if there is a high level of radon we can request the seller install a mitigation system.

Radon Inspection:

Sewer Scope: A contractor will come to the home and send a camera down the sewer line all the way to the main connection. If they see any issues in the DVD we'd then be getting bids and asking the Seller to fix the issue. You can never tell if a sewer line is bad, even in newer homes, so I strongly recommend getting this done. The cost is roughly $120 and it could save you $5,000- $15,000 if there

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Inspection Options 

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When there are visible cracks or signs of poor grading and/or drainage we recommend a structural engineer be hired to investigate the issues and make a recommendation. Structural concerns are very important to address and if any visible issues exist I highly recommend it be done. The estimated cost is $150 for the engineer to come out and then another +/-$75 per hour for their time working on the job. This is not cheap but it is money well spent, especially if they find a big issue prior to you purchasing the home.

Structural Engineer:

Mold / Moisture Inspection: A contractor specifically trained in this area will come through and seek out mold or moisture issues that are often hard to detect. Because this can be a health issue I strongly suggest this be done. This contractor does this for free as a service since we bring them repeat business.

HVAC Inspection:

A Specialist in this area will analyze the heating and cooling systems and make suggestions. This contractor does this for free typically as a service since we bring them repeat business.

Electrical Inspection:

Plumbing Inspection:

Other MISC Inspections:

A specialist in this area will analyze the electrical components and point out any deficiencies. This contractor does this for a small fee of $50-$75 as they are licensed and held accountable by the state.

A specialist in this area will analyze the plumbing components and point out any deficiencies. They will also provide a report and or bid if there are any issues that they have noticed. Typical cost for this is $50.

Termite Inspection: Available if general inspector sees any cause for concern. Not typically done but available if you want it.

Roof Inspection: Available if general inspector sees any cause for concern. Not typically done but available if you want it. This contractor does this for free and provides a bid.

Lead Based Paint: Available if general inspector sees any cause for concern. Typically disclosed by seller. Cost $100.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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e realize this was a lot of information and we do commend you for taking the time to read it. You are managing your clients expectations as their agent and by having this information now you will be better prepared & ready to hire a TC to support you! To get started please call or email The Maximizing Team and we will arrange a personal meeting to answer any additional questions and / or to get started right away. Thanks for your time and we look forward to serving you!

The Maximizing Team ™ 720-545-9002 Office | 720-545-9007 Fax

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