EP057: Transitioning the Deal to the Transaction Coordinator — Thursday’s Q&A

EP057: Transitioning the Deal to the Transaction Coordinator — Thursday’s Q&A

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Alex walks you through the steps he and his team take when they’ve gotten a buyer under contract, and how his transaction coordinator handles and closes the deal. If you haven’t been following along, this episode is the final show in its four-part series, where Alex walks the audience through how his staff processes and closes a qualified lead.

 

Key Takeaways:

  • Alex’s transaction coordinator has a checklist in the CRM system.
  • Alex will get a title and lien search ordered, only after he’s gotten a contract signed by the buyer.
  • Normally people get a title and lien search after the seller has signed the contract, but Alex explains why he waits for the buyer first.
  • Make sure you’re in constant communication with the seller.
  • If Alex knows a property has an issue, he will communicate that with the buyer and add that into the contract.
  • When you’re first starting out, and wearing all the company’s hats, heads up — being a transaction coordinator is a full-time job.
  • As the owner of your company, you should be able to take a look at what’s in the CRM, and know exactly what’s going on, and who is handling it.
  • Alex discusses a time he worked with a seller who was a big ball of nerves. If he didn’t have his transaction coordinator there to help walk the seller through the process, the deal would have never gone through.
  • When you close the deal, try to get a video testimonial of the seller.

 

Mentioned in This Episode:

FlipEmpire.com

 

Tweetables:

The transaction coordinator will keep in contact with all the parties and keep them in the loop.

If you just assume that everything is okay, you’re risking the deal and you’re risking the seller getting worried.

Transaction coordinators are a critical team member to have.

 

Ask Alex A Question:

Have a question you want featured on an upcoming Flip Empire Show?

Head over to the Ask Alex page, and record your question. We’ve made it super easy for you, so let us know what challenges you are having, and Alex will answer it personally!

 

Did you get your FREE Online Course?

Text the word EMPIRE to 67076, and we’ll send you a link to get instant access to the “5 Ways To Scale Your Real Estate Wholesaling Business To Six Figures (In 6 Months Or Less)” video module training course.

 

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