Virtual Transaction Coordinator for Real Estate Agents from Udemy

What's inside

Learning objectives

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!

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!

Syllabus

Introduction to The TRANS-TRAC System for Real Estate Agents

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!

The System Components

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

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.

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.

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

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.

In this lecture we see how a new agents can use the system to gain enough confidence to go get listings and sales.

The Procedures Manual Detailed Instructions

The property address will be located on either the listing agreement or purchase contract.

The client name will be located on either the listing agreement or purchase contract.

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.

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.

The expiration date will be on the listing agreement. This date may be changed if the proper paperwork is completed authorizing an extension.

In this lecture we point out that you'll need to customize the spreadsheet instructions for your particular MLS rules and procedures.

In this lecture we point out that you'll need to customize the spreadsheet instructions for your particular office/company rules and procedures.

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.

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.

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."

This lecture includes tips on how to keep flyers in yard sign by recruiting the help of the sellers/clients.

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.

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.

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!!

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.

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.

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.

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.

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.

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.

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.

DO THIS ASAP! Following these instructions will help you avoid numerous headaches.

Make sure the buyer shows up, or signs something authorizing a 3rd party (NOT YOU) to perform the walk-through for them.

This is how to process the check once it comes in from the escrow company. Customize the instructions per your office procedures & policy.

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!

Another big cost to agents if forgetting to pick up lockboxes! Make sure you complete this step every time!

One of the best ways to generate referral business.

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.

Conclusion and Thank You

If you liked this course, please give us a 5-star review! Also, let us know how it works for you in your day-to-day world! And last, if you have any questions, concerns or suggested improvements, share them with us.

Using feedback from students I'm continually updating, revising and improving the TRANS-TRAC System. This is where I'll provide notification of updates and addition instructions.

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 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!

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Teaches a well-accepted method to manage real estate teams, and the spreadsheets are easy-to-use and customizable

Provides a comprehensive system for managing real estate transactions, from lead generation to closing

Helps real estate agents improve their time management and organization skills

Can be used by real estate agents of all experience levels

Offers a step-by-step approach to managing real estate transactions, making it easy for beginners to follow

Covers a wide range of topics, including lead generation, marketing, and closing

Reviews summary

Helpful virtual transaction management course

According to students, this course in virtual transaction coordination is a time saver and a way to stay on top of deadlines. Students say that they enjoyed the course and recommend that you take this course.

Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Virtual Transaction Coordinator for Real Estate Agents with these activities:

Review: The Millionaire Real Estate Agent

Show steps

Lay a foundation for the knowledge and skills you will cover during the course by reviewing this classic real estate book.

View The Millionaire Real Estate Investing Series... on Amazon

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Read the book.
Take notes on key concepts.
Make connections between the book's content and your own experiences and goals.

Review: Rich Dad Poor Dad

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Expand your understanding of financial principles by reviewing this popular book on investing and money management.

View The Ravens on Amazon

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Read the book.
Take notes on key concepts.
Make connections between the book's content and your own experiences and goals.

Watch video tutorials on real estate topics

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Enhance your understanding of real estate concepts by watching video tutorials led by experts.

Browse courses on Real Estate Investing

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Find video tutorials on YouTube or other platforms.
Watch the tutorials and take notes.
Apply what you learn to your own real estate practice.

Five other activities

Expand to see all activities and additional details

Show all eight activities

Solve real estate practice problems

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Sharpen your real estate skills by solving problems and practicing calculations.

Browse courses on Real Estate Finance

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Find practice problems online or in textbooks.
Solve the problems and check your answers.
Review your mistakes and learn from them.

Create a Real Estate Investment Plan

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Put your knowledge into practice by creating a plan for your own real estate investments.

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Define your investment goals.
Research different real estate markets.
Identify potential investment properties.
Develop a financial plan for your investments.

Write a blog post about a real estate topic

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Reinforce your understanding of real estate principles and deepen your knowledge by writing and publishing a blog post.

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Choose a topic related to real estate.
Research the topic thoroughly.
Write and edit your blog post.
Publish your blog post.

Join a real estate mastermind group

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Connect with other real estate professionals and learn from their experiences and insights.

Show steps

Find a mastermind group that is a good fit for you.
Attend mastermind group meetings regularly.
Participate in discussions and share your own knowledge and experiences.

Attend real estate industry events

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Expand your network and learn about the latest trends in the real estate industry by attending industry events.

Show steps

Identify industry events that are relevant to your interests.
Register for and attend the events.
Network with other attendees and learn about their experiences and insights.

Career center

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