Virtual Transaction Coordinator for Real Estate Agents

Name: Virtual Transaction Coordinator for Real Estate Agents
Rating: 4.6 (765 reviews)

Build a Team, Delegate Tasks, Monitor Results Remotely & Deliver Extraordinary Service to Clients by Using GoogleDocs

Created byBrad Gustafson

Last updated 9/2024

English

What you'll learn

You will be able to create a TEAM that really works TOGETHER!
You will be able to easily manage 5, 10 or more closings per month!
You will sleep at night without all that worrying!
You will deliver service that encourages REFERRALS!
You will keep agents, escrow and lenders ACCOUNTABLE!

Course content

6 sections • 42 lectures • 2h 58m total length

Welcome & Overview3:02
Thank you for taking this course. If you think it's good, please give us a 5-star review! If you think it needs improvement, start a discussion or send us a request. We'll be looking for suggestions and will be continually improving on the system so you can use it in your daily business!
Software Version Now Available11:18
The software version of the TRANS-TRAC System is now available at: https://www.transtracsystems.com for $12.95/month or $125/year, which will start AFTER a 100-day free-trial period. You may cancel any time prior to the 100 days, with no obligation.
And here are a few tips on what to do within the system:
1.) Make sure you create your TEAM Name during your initial setup.
2.) Go to your Team Settings page, and invite your Transaction Coordinator, Assistant, Buyer's Agent, or other person(s) to join your team.
3.) Anyone you invite will also get the 100-day free trial.
4.) Add contacts to your database that you regularly work with, such as Escrow Officers, Loan Officers, Inspectors, etc...
5.) Add your clients (buyers and sellers) and related properties, then "Create Transactions" from the property details pages.
I'm still implementing updates to the system, so you may notice changes from one day to the next. When you think, "It would be nice if there was a button here that would _____," please let me know -- your valuable feedback will help shape the development going forward!

How to Download, Save & Share TRANS-TRAC TEMPLATE2:55
Directions:
**SEE LECTURE 41 TO SEE NEW FEATURES WITH v.2.0 UPGRADE BEFORE DECIDING WHICH VERSION YOU WANT TO USE**

Follow this link to the Google Document, "TRANS-TRAC MASTER TEMPLATE" (Click on the square with an arrow pointing to top right.)

Select “File” → “Make a Copy” (note: you will need a Google account)

Name the file "[Your Name]'s TEMPLATE" (do not make changes to your template)

Make a 2nd copy & name "[Your Name]'s 2017 TRANSACTIONS"

Share the 2nd copy with your team, following attached .pdf instructions from Google

Follow the instructions in this course to customize your system
Component 1: The Transaction Sheet11:01
The TRANS-TRAC System is a spreadsheet document you keep in your Google or gmail "Drive." This document consists of numerous separate "Sheets," each of which has a tab at the bottom of the document. The first tab is named "TRANSACTIONS," and this lecture gives you an overview of how this sheet fits into the larger spreadsheet. The remaining sheets are either numbered or lettered, and the following lectures will cover how they fit in.
Component 2: The Property Details/Contact Sheets6:00
The TRANS-TRAC System is a spreadsheet document you keep in your Google or gmail "Drive." This document consists of numerous separate "Sheets," each of which has a tab at the bottom of the document. The Property Details sheets are NUMBERED, corresponding to the numbered ROWS on the main TRANSACTIONS sheet, and this lecture gives you an overview of how these sheets fit into the larger spreadsheet.
Component 3: The Procedures Manual Sheets5:42
The TRANS-TRAC System is a spreadsheet document you keep in your Google or gmail "Drive." This document consists of numerous separate "Sheets," each of which has a tab at the bottom of the document. The Procedures Manual sheets are LETTERED, corresponding to the numbered COLUMNS on the main TRANSACTIONS sheet, and this lecture gives you an overview of how these sheets fit into the larger spreadsheet.

Working The System As A Team15:08
In this lecture we cover how to use the system as a Team, which can include variations such as: 1. One agent with an assistant; 2. One agent with 2 or more assistants; 3. One agent with assistant(s) and "buyer's agents"; 4. Multiple agents and multiple assitants.
Working The System As A New Agent5:47
In this lecture we see how a new agents can use the system to gain enough confidence to go get listings and sales.

Locating The Property Address3:12
The property address will be located on either the listing agreement or purchase contract.
Determining The Client Name1:57
The client name will be located on either the listing agreement or purchase contract.
List and Sold Prices2:23
The listing price will be found either on the listing agreement or the MLS printout. The sold price will be more difficult to find because it will be somewhere within the complete purchase contract, which can include multiple counter offers, any one of which will contain the final negotiated price.
When Does The Listing Contract Go Into Effect?3:06
The list date will be on the listing agreement. Use the effective date of the listing, which is distinct from the date the agreement was signed.
When Does The Listing Contract Expire?1:12
The expiration date will be on the listing agreement. This date may be changed if the proper paperwork is completed authorizing an extension.
How To Submit The Listing To Your MLS2:50
In this lecture we point out that you'll need to customize the spreadsheet instructions for your particular MLS rules and procedures.
How To Get Required Listing Copies To Seller & Broker4:57
In this lecture we point out that you'll need to customize the spreadsheet instructions for your particular office/company rules and procedures.
How To Get Yard Sign Installed2:11
In this lecture we point out that you'll need to customize the spreadsheet instructions for your particular individual and/or office rules and procedures.
How To Get Lockbox Installed5:09
In this lecture we point out that you'll need to customize the spreadsheet instructions for your particular MLS and/or office rules and procedures.
Updating CRM For A Listing9:23
In this lecture we point out that you'll need to customize the spreadsheet instructions for your particular individual rules and procedures. We also show how to completely remove a step and replace it with something different. For example, you may want to change Step 10 from "UPDATE CRM" to "HOLD OPEN HOUSE."
How To Produce & Distribute Marketing Flyers3:06
This lecture includes tips on how to keep flyers in yard sign by recruiting the help of the sellers/clients.
How To Determine The Effective Date Of A Purchase Agreement2:27
Because a purchase contract can have multiple counter-offers, and each counter could be signed on different days by the buyer(s) and seller(s), it's important to determine the correct effective date of the contract. The due diligence periods can only be calculated once you've got the correct sale date.
How To Determine The Contracted "Close Of Escrow" (COE) Date2:16
Because a purchase contract can have multiple counter-offers, and each counter could have a different COE date, it's important to be careful when reviewing the paperwork.
Calculating The Due Diligence Date3:08
Once the correct sale date is determined, you'll have to calculate the end of the Due Diligence date, making sure you follow whether the contract says calendar days or business days.

UPGRADE, v.2.0 - see Sec. 6, Lecture 41 video - AUTOMATIC CALCULATIONS FOR DAYS REMAINING FOR DUE DILIGENCE!!
How To Open Escrow5:55
To open escrow it's important to use a copy of the Property Details Sheet. There are numerous legal requirements for this step, so it's important for you to customize the procedures to fit your particular jurisdiction.
How To Get Required Sales Copies To Client & Broker1:12
There are legal requirements for you to deliver contract copies to both your broker and your clients. Make sure you customize the instructions to fit your particular jurisdiction.
Updating CRM For A Sale9:23
In this lecture we point out that you'll need to customize the spreadsheet instructions for your particular individual rules and procedures. We also show how to completely remove a step and replace it with something different. For example, you may want to change Step 10 from "UPDATE CRM" to "HOLD OPEN HOUSE."
How To Obtain, Review & Approve The CIC/HOA Documents3:25
Depending on your location, the Common-Interest-Community or Home-Owner's-Association will have to provide certain documentation to the buyer before they close. Make sure you customize the instructions for your particular jurisdiction.
How To Schedule & Complete The Appraisal1:31
This step can be skipped if you have a cash sale, as no appraisal will be required. If there is financing involved, make sure you complete this step as early as possible to avoid any delays.
How To Schedule & Complete The Inspection(s)1:42
Not every buyer requires an inspection, but you need to recommend they get one. If they decline, make sure you get them to sign a waiver.
How To Obtain, Review & Approve The CC&R's, Escrow & Commission Instructions2:00
After opening escrow, you should get a package from the escrow company including CC&R's, Escrow Instructions, Commission Instructions, etc... Make sure you review these documents as soon as possible, and take any additional action needed, such as getting your broker to sign the commission instructions.
How To Order The Home Warranty2:24
Not every buyer requires a Home Warranty, but you need to recommend they get one. If they decline, make sure you get them to sign a waiver.
How To Schedule & Complete Seller's Escrow Appointment3:06
DO THIS ASAP! Following these instructions will help you avoid numerous headaches.
How To Schedule & Complete Buyer's Escrow Appointment3:49
DO THIS ASAP! Following these instructions will help you avoid numerous headaches.
How To Schedule & Complete The Walk-Through Appointment2:19
Make sure the buyer shows up, or signs something authorizing a 3rd party (NOT YOU) to perform the walk-through for them.
How To Obtain, Review & Process The Closing Package1:51
This is how to process the check once it comes in from the escrow company. Customize the instructions per your office procedures & policy.
How To Remove The Yard Sign1:12
You might want to get extra advertising by leaving a sign up after COE, but it could cost you referrals.... not to mention the cost of the sign itself!
How To Remove The Lockbox1:04
Another big cost to agents if forgetting to pick up lockboxes! Make sure you complete this step every time!
Updating CRM For Closing & Follow-Up9:23
In this lecture we point out that you'll need to customize the spreadsheet instructions for your particular individual rules and procedures. We also show how to completely remove a step and replace it with something different. For example, you may want to change Step 10 from "UPDATE CRM" to "HOLD OPEN HOUSE."
Closing Gift Suggestions2:02
One of the best ways to generate referral business.
How To Archive The File6:36
Another way to generate referrals is to save a copy of every HUD-1 during the year and mail them all out to your clients the following January in preparation for taxes. Your clients will appreciate you for it.

Adding Links within system & Adding additional contacts, such as Attorneys6:07
I've had students ask about where and how to add additional contacts for transactions, such as attorneys, inspectors or home warranty companies. You now have 2 resources to help with that issue:

See tutorial #40. This video shows you how you can add space for additional contacts on the "Property Details" sheets (#'d 2-23) on the system you've already downloaded. Also, it shows how you can add LINKS to websites you regularly need to access, such as sign company, inspectors, escrow, etc...

Download revised Master Template. I have added additional contact fields to the Master Template, so if you don't want to make the changes to the spreadsheet you've already downloaded, just download the new template, per instructions in Lecture 2.

Thanks for enrolling in this class and using the TRANS-TRAC System to manage your business! If you haven't already, please leave a Star-Rating and review.

Sincerely,

Brad B. Gustafson

c.702-278-1435
v.2.0 - UPGRADE: Automatic Calculation of DAYS LEFT for Due Diligence5:02
v.2.0 NOW AVAILABLE - see lecture 2 - A new column automatically calculates how many days remain for Due Diligence. If 5 days or less, it'll be highlighted in RED & if between 6-12 days it'll be highlighted in YELLOW. Watch this video for details!

Requirements

Computer
gmail account to access Google Sheets
Smart phone or notepad to access Google Sheets
Desire to grow your real estate business

Description

In this course you will down-load a Google-Docs spreadsheet that you will use for the rest of your real estate career. This spreadsheet is included in the tuition for this course and does not cost the $30 - $90 per MONTH that many real estate CRMs charge.

This course will cover the 3 basic components of the TRANS-TRAC System:

1.) TRANSACTION BOARD - originally created on a 4'x8' white-board the author hung on his office wall to manage 10 closings per month, this board is now digitized and can be shared between agents in the field and transaction coordinators in the office.

2.) PROCEDURES MANUAL - linked to each of the steps on the board are detailed (and customizable) instructions for completing every step need from the time you get a listing or purchase contract signed right through cashing your commission check.

3.) CONTACT SHEET - also linked to the transaction board are detailed contact sheets for each transaction, giving you and/or your assistant(s) fingertip-access to important phone numbers, emails, escrow #'s and more...

This course will walk you through every step of building and managing a thriving real estate business.

Who this course is for:

This system is for real estate agents, not the general public.
If you are ready to hire an assistant, this system will help you minimize training time, freeing you up to work directly with clients!
If you have a team, this system will help you work efficiently with them!
If you are busy and small details are getting missed (ever lose a lockbox?), this system will keep you on track!
If you want to make sure there are no delays to your closings, this system will help you get paid on time!
If you are closing 5 to 10 (or more) transactions per month, you definitely need this system.
If you are an experienced agent, and you close only 1 to 3 transactions per month, you do not need this.
If you are a new agent, this system will guide you step-by-step from the time you get a contract signed up to cashing your commission check!

Virtual Transaction Coordinator for Real Estate Agents

What you'll learn

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Course content

Introduction to The TRANS-TRAC System for Real Estate Agents2 lectures • 14min

The System Components4 lectures • 26min

Working The System2 lectures • 21min

The Procedures Manual Detailed Instructions31 lectures • 1hr 46min

Conclusion and Thank You1 lecture • 1min

Updates & Revisions2 lectures • 11min

Requirements

Description

Who this course is for: