Module 7: Managing the Transaction 59

Example of Post Contract Ratification Email - continued

DO NOT turn off utilities at this time if you’re moving out before closing. Please leave them on until at least the day after the closing. The contract requires you to have utilities on and it’s safer for your home to do so.

Our next responsibility is to order Wood Destroying Insect (Termite), Well and/or Septic inspections if your contract requires you to do so. Often, we’ll need to schedule a septic tank clean out. If you have preferred vendors for these tasks, please let me know. If you need a service provider, you can always find a list on my website here: [link to agent’s website with list of available vendors] If the provider you need isn’t on the list, then I’ll help you find someone.

If you live in a Home Owner’s Association, you and I will coordinate ordering the HOA documents. That should be done soon, but we typically don’t deliver them to the buyer until after the home inspection has been finalized. Remember that the buyer has the right to void the contract any time before delivery of these documents and up to three days after delivery.

You will generally only receive information about the closing from me, but sometimes the legal company will send you information directly. If they do, please let me know so that I can ensure that we’re all on the same page.

An appraiser will be contacting either you or I to schedule the appraisal of the home. If they call you, please email me and let me know who the appraiser is and when they are scheduled to come out.

Other things will come up, but this is a general overview of what to expect over the next few days. I’ll be here the entire way to keep you up to date, ensure the process is moving along well and ensure that your questions are answered.

As always, if you need me, please let me know!

[End of Email Example]

After the Transaction Has Ended

The settlement of a property is only the end of that transaction for the client. The relationship with the client must continue after the transaction to ensure that the agent remains at the top of mind for a client’s future business and referrals.

Post Transaction Action Items

Once the settlement has ended and the settlement service provider has recorded the dead, there are still a number of action items for the Professional Assistant to perform. Closing out the transaction properly for the agent and client can help with liability issues and also with client re-engagement at a later date. If the buyer your team just assisted in purchasing a home wishes to sell it a few years later, being able to pull up all of the files for this current sale could be very beneficial. Additionally, should there be any regulator complaints or legal actions in the future, a well-organized and properly closedout file will go a long way to helping any attorney working on the agent’s behalf.

Here is a list of some of the post-transaction processes:

▪ Turn in all documents to the broker ▪ Submit the commission request form ▪ Save all emails, texts and correspondence to the final file ▪ Add client to a long term follow-up plan ▪ Send request to the client for an online review of the agent

Post-Closing Letters

Hand written letters are always considered to be a thoughtful effort by the recipient. Draft a letter on behalf of your agent or team and sign it on behalf of the team. The letter should thank the client for choosing your team and for the referrals that they’re sure to give you in the future.

Create a standardized letter for all past clients reminding them that some of the costs associated with buying or selling a home could be tax deductible. At the end of each transaction, place that letter with a copy of the settlement statements and place them in a box. In February of each year, just before tax season, mail all of the letters out to the clients that have worked with your team during the year.

Closing Gifts

It is customary for agents to give closing gifts to their clients as a thank-you for choosing the agent and working with them. Some agents elect to give these gifts after closing as a reason to re-engage the client and let them know that the agent didn’t forget about them after the closing. Other agents like giving the gift during the closing. Regardless of which option is chosen making the closing a