Using Retirement Funds to Buy a HomeThere are two reasons why all agents should use a “TC” on all their transactions!

The Price to Agents of NAR -CAR:
Eliminating “Procuring Cause”
Here’s the verbiage from the recent DRE advisory:
Changes to RE Agent Representation and Compensation

1) The BRBC adds more moving pieces, timelines, and contractual “outs’ for the buyer makes it “unenforceable’ according to the DRE publication.

Redfin: SoCal Homebuyer Cancellations Surge to New High

TCs speed up the timelines. With every delay, missed signature(s), or other aggravations, comes a higher risk of your buyer backing out and your comm check blowing up.

2) Time vs. Costs: Given the current economic uncertainty of flat home sales, sellers will scrutinize all agent and lender fees more closely than ever.

Buyers or sellers trying to transact cheaply or cut corners negatively affect the agent’s finances and scheduling. 

I have a “value-added proposition”: Buyer’s Choice of any TC!
If you are an agent whose buyers are eager to use a “No-Cost” TC, please reach out

I plan to incorporate a TC into all of my team’s transactions. I’ll credit a portion of my comm check DIRECTLY to the BUYER (in compliance with RESPA) at COE.

All three times went sooo easily,…
 For the third time in five months, my team and I directly interacted with a buyer’s agent, “TC,” as a primary source of contact when an agent’s medical issue arose, making them (virtually) unavailable. 

Having a single point of contact ensured the deals flowed smoothly, setting the stage for numerous referrals and repeat business that benefited benders and agents alike.  

This is from Number One TC – Transaction Coordinator Services.

List of TC tasks –

·  Send introduction emails to all parties with Timeline, closing date, and all CR due dates – send reminders as needed before the due date of each contingency

·  Ensure escrow and lender receive all executed contracts, addendums, and follow up as needed

·  Follow up with EMD arrival 

·  Send/request disclosure packages and gather electronic signatures

·  Generate documents and disclosures and send them for the seller’s signature when representing the seller’s side

·  Provide agents with updates on the status of the transaction

·  Follow up with each contingency removal to make sure we meet all deadlines

·  Ensure proper completion of all disclosures and broker forms 

·  Set up a compliance file with the agent’s broker

·  Draft addendums as needed and send to all parties

·  Keep all parties informed of any change

·  Remind escrow to order the HOA package, title, and Solar, if applicable, and follow up as needed

·  Order Home Warranty and NHD, if needed

·  Request Loan updates from the lender

·  Request appraisal updates from the lender

·  Remind my agents to complete their Agent Visual Inspection (AVID) on time

·  Remind my agents to book a final walk-through appointment 3 to 5 days before the close of escrow

·  Follow up if the loan docs were sent to escrow, and when clients are signing

·  Follow up on the closing status and date, as needed

·  Confirm recording and congratulate all parties

·  Upload closing documents to the broker’s compliance file

. Ensure that my agents receive timely payments by obtaining the broker’s file approval promptly.

Agent’s Responsibility:

·  Book inspections and appointments with clients

·  Review Preliminary Title

·  Negotiate repairs and/or any changes in the Contract

·  Draft RR and RRRR

·  Complete Physical Inspection, Final Walk-through, and Agent Visual inspection

·  Review Escrow Instructions and settlement statements with the clients

Transaction Coordinator Fee:
Seller Side fee: $500 Buyer Side fee: $500

Payment occurs through escrow at closing. Escrow will cut the TC fee check and mail it to the transaction coordinator.

Cancellation Fee:

NO charge if the file is canceled

Confidentility

I value your confidentiality and privacy. I will not share personal or transactional information with outside entities. 

Communication:

I enjoy interacting with my agents and their clients, and I respond promptly to all their questions and concerns.

 Number One TC – Transaction Coordinator Services.
Email:HajerBenTC@gmail.com
Phone: 626-840-2951