Often one of the greatest challenges even the best Realtors face is managing the transaction once the property enters the contract phase. Most buyers and sellers have no idea how much work is involved in the process of getting a home to closing. It is often difficult to juggle the demands of gathering the necessary documents, managing the other parties and maintaining communication with your client. Of course you must continue to market current listings, work with your buyers and network for new leads or your business will not grow.
Almost fourteen years ago when I started my career in the real estate industry the FAR/BAR (Florida) contract was 2 pages and rarely were there ever addendums. Now, the 4 page FAR/BAR contract is just the beginning, we have multiple addendums and disclosures added to that. This has led to an unbelievable amount of paperwork to ensure proper signatures on, deadlines that must be tracked and kept and of course all the documentation must be stored by the broker and the agent for many years. Additionally, the market has created an opportunity for the not so “professional” person to enter and make some money thus making it ever challenging for the Realtor to ensure a trouble free closing for their client.
So how can a great sales person also be great at managing the details? By developing a system that will enable you to constantly stay on top of the details and the other parties involved in the process. The system of managing your transactions can be created by simply forming paper lists of documents that need to be gathered during this phase and tasks to be completed and adding them to the file. Or as elaborate as a computer system that will provide you with deadline reminders, send scheduled emails and maintain documents. The most important part is that whatever system you choose is that you use it. Don’t try to carry the details in your mind, put them into a system and work the system to achieve maximum results.
Your clients are depending you to help them not only market their property or help them find the perfect home but to make the process as convenient for them as possible. They also depend on you as the professional to guide them through the process and make sure that nothing is overlooked. Systemizing any part of that process is critical to the continued success and growth of a Realtor.