How to manage transactions – It’s not uncommon to find yourself buried in transactions, trying to sift through each one, which can be very time-consuming. All the time spent on this means less time to focus on your business and it’s growth. If only you had some type of real estate transaction coordinator checklist. You likely aren’t aware which documents your agents are collecting and this could be detrimental for you business; a potential litigation risk. In addition, this lack of easy visibility could easily be costing you and your agents. It’s time to find a solution that allows you to make proactive decisions instead of handling reactive problems.
The Solution for Managing Transactions
You can easily utilize an important tool, a transaction tracking system to be exact, that will help you gain visibility over all of your real estate transactions online and help you better manage all aspects of your business. It’s time focus on the important parts and minimize time spent on tedious tasks.
1 – Track Your Cashflow
This is likely the most important step of action you need to take first. It’s very crucial that you know exactly how much you make on each transaction and exactly how many transactions you have. In addition, you can track your agent’s commission and view your upcoming monthly revenues. This will include any real estate transaction fees as well.
2 – On-Time, Delayed & Cancelled Transactions
If you have a hard time keeping up with the status of your many transactions you will find it beneficial to use interactive brokers software that lets you easily see the status of every transaction. By having this ability you can reduce the time spent on follow-up emails and routine phone calls to check the status of a transaction; it will be right there in front of you, in one place. This could also help you encourage your agents and even office staff to stay on top of their assigned transactions.
3 – Access to Custom Reports
Maybe you want to find out which agent is performing the best this month or how many short sales transactions have been closed, etc.; you can easily produce a custom report to tell you. This is ideal for those who pay close attention to the effectiveness of their real estate closing solutions. Having a tool that will easily go through and pull the necessary information from the system to display particular information will save lots of time and frustration, for both you and your agents.
4 – A Copy of All Transactions
You should already be aware that it is necessary to have a copy of your transaction files and backup your files regularly.