Real Estate Contract-to-Close Assistant
Transaction Coordination Virtual Assistant for Real Estate Agents
The goal of your Contract-To-Close Assistant is to help you manage the transactional process from when you put a listing under contract to when that contract actually closes, resulting in your commission & the closing of the property by using a Transaction Coordinator or Contract-To-Close Virtual Assistant.
For this part of the process, you can focus on:
- getting more deals,
- building relationships,
- growing your sales pipeline, and
- concentrate on the tasks that actually make you money.
How It Works:
A Contract-To-Close Assistant is someone that is specially trained specifically to help you out from the contract to close process.
They’re most likely going to already be familiar with some of the workflows required. They’ve probably worked in another or the same transaction software as what you’re using and they’re going to follow a detailed step-by-step Standard Operating Procedure created by REVAS for your business based on your existing transactional process to make sure that they’re focused in on all the details in your transactional checklist & helping you get that property closed with as little effort on your end as possible.
They’ll be specifically focused & trained to be with you every step of the way: from the moment your contract is signed until the final closing of the property.
You can even use a combination of both U.S.-based and Overseas REVAS Virtual Assistants for your contract-to-close process.
For a higher touch, higher communication level skill, a U.S.-based person is ideal when it comes to client facing communications & interactions.
For the rest of the administrative side & talking to vendors, an Overseas Virtual Assistant is fully capable at the contract-to-close process for your business.
The best part about an outsourced Contract-To-Close Assistant is that now you can focus on making money.
You can focus on:
- getting more deals,
- nurturing leads,
- closing listing appointments, & getting your existing listing sold,
- finding more buyers,
- building your business,
- automating systems & processes, and
- growing your team.
Transaction coordination contract-to-close tasks can be outsourced with the same quality of work that you would get having it done in-house. It’s a natural part of the real estate business to delegate and even as a real estate agent.
If you’re only hiring a transaction coordination assistant for your own transactions, it’s a great investment, only costing a few hundred dollars per transaction that will free your time & energy from these menial administrative duties to focus on the more important tasks of your business.
The downside of hiring a Contract-To-Close Assistant is the setup process.
You’re going to need to work with us at REVAS at creating at least one, but perhaps multiple Standard Operating Procedures that are going to guide your Transaction Assistant every step of the way.
We need to have a super-detailed training manual or Standard Operating Procedure – SOP – that goes through every step in the process with:
- every important login detail that the Virtual Assistant is going to need to find documents & where to put them,
- how to examine the documents to be sure that they’re submitted correctly, & if you’re outsourcing this part of the process,
- who to call when it comes to vendors, or even
- communicating with the clients to actually get resolved issues.
This setup process is a lot of work, but once it’s done, you don’t really have to do it again, so it’s a great investment if not a difficult one at the initial learning curve.
Depending on how much of your contract-to-close process you’re outsourcing, the work estimate can range anywhere from about 5 – 10 hours per transaction, upwards to about 20 hours per transaction.
Some clients split that higher touch level between Overseas and U.S.-based, so you might be working with something like 15 Overseas work hours and 5 U.S.-based work hours per transaction just to get the whole process completely delegated off your plate and outsourced with a team of both the U.S.-based & Overseas Virtual Assistant, fully trained to your existing transaction management system.
This way you can completely get the process off your plate for a relatively fixed fee & not have to worry about it again.