What is Transaction Coordination?

A transaction coordinator works hand in hand with real estate agents to keep transactions organized, streamlined, communicate with all parties, schedule inspections, ensure compliance, build properties in the MLS, create property marketing materials and track contract/ contingency dates. Transaction coordinators allow agents more time to focus on building their business and providing client(s) with top tier service as they navigate through the process of buying and selling real estate.

What are the payment terms?

Transaction Coordination Services:

• If transaction closes successfully an invoice will be sent to the agent and must be paid within 7 days of closing.

• If the transaction does not close, the fee will depend on the amount of work completed by Glass Transactions LLC.

  • No fee will be charged if the transaction is canceled during the inspection period.

  • If the transaction is canceled within 5 calendar days of the settlement date:

    • A $400 fee is due if the service was not bundled with a Listing Marketing Package.

    • A $350/ $375 fee is due if the service was bundled with a Listing Marketing Package.

  • If the transaction is canceled after 15 calendar days from contract ratification, and not within 5 days of settlement, a $200 fee.

Listing Marketing Services:

• Listing Marketing service fees are invoiced to the agent and are due when the property is marked as "Coming Soon" or "Active" in the MLS.

• If the property skips the "Coming Soon" stage, payment is due when it is made Active.

All Other Services:

• Fees for all other services are due at the time the invoice is issued.

What are the duties and responsibilities of a transaction coordinator?

Listing Marketing

• Create a listing draft in MLS.

• Check tax documents to confirm property owners.

• Upload photographs, property tours, and Disclosures and Disclaimers.

• Input showing instructions as provided by real estate agents.

• Input Open House date(s) and time(s).

• Submit listing documents to Brokerage Office.

• Order home warranty with preferred home warranty company (if applicable).

• Order property signs.

• Creation of social media content: Coming Soon, Active, Open House, Under Contact, and Sold.

• Creation of flyers and brochures sent digitally to real estate agent for printing with their preferred printer.

• Write and review property remarks with agent written final approval (available with Elite Listing Marketing Package).

• Communicate with seller(s) about timeline, share property draft and explain showing apps (available with Elite Listing Marketing Package).

  Transaction Coordination

• Send an introduction email to client(s) once a ratified contract is received.

• Provide client(s) and agent portal to view transaction details such as contingency dates, parties involved and action items.

• Send client(s) and agent emails and text messages with reminders of important dates. 

• Follow up for confirmation of repairs and obtain invoices, photographs and reinspections, if applicable.

• Order HOA/ Condo resale packages, if applicable. 

• Submit invoices and reimbursements to the title company, if applicable.

• Monitor the contingency periods to ensure contractual compliance.

• Ensure all required documents are complete and submitted by the necessary dates.

• Submit paperwork to the agent’s Brokerage Office and ensure compliance. Follow up if needed to complete any action required to acquire compliance. 

• Review of closing documents for accuracy of sale price, credits, and deposits. Final confirmation of accuracy given to the title company by the agent. 

• Coordinate settlement appointments with title company and client(s).

• Send client(s) completed and final signed settlement documents.

• Schedule all after-close follow-ups; post occupancy inspections, release of post occupancy deposits, etc.

• Obtain client testimonials and online reviews (if requested by agent, agent to provide preferred verbiage for requesting reviews from client(s).
  

What are the responsibilities of the real estate agent?

• Negotiations. 

• Advise client(s) on contract contingencies, price, and strategies. 

• Advise seller(s) on how to prepare the home for listing.

• Provide contact information for preferred vendors; photographers, sign companies, inspection companies, etc. 

• Communicate with the transaction coordinator or any changes with timelines, contingencies or credits. 

• Confirm accuracy in writing to the transaction coordinator of Disclosures and Disclaimers, MLS, remarks, marketing and all information in reference to property. 

• Post social media graphics onto your social profiles.

• Final review of ALTA and closing documents for accuracy of taxes and commission. 

• Provide the title company with commission payment information.

• Agent is fully responsible if any violations or compliments arise for marketing materials, ethics, errors that violate guidelines of national associates, local associations and/or real estate boards.

How do I schedule a meeting to receive more information and ask questions about services provided before I submit an order?

To schedule a meeting use the “Request More Information Form”. Meetings can take place over the phone, virtually, or in person if within 1 hour of the Catonsville, MD.

What are the steps to take when submitting an order?

Agent will complete the order form for the service they would like. Glass Transaction will confirm the order has been received and contact the agent during business hours of Monday to Friday between 9AM to 5PM to review the order and request any needed information.

Upon receiving an order from an agent using Glass Transactions for the first time, we will contact the agent to schedule a phone or virtual meeting during business hours. This meeting will go over the process, gather information and answer any questions. Agents will be contacted the same day their order is placed when ordered during business hours, if ordered after business hours they will be contacted the following business day. 

What marketing materials are offered with Premium and Elite Listing Marketing Package?

• 5 social media graphics

• Coming Soon

•  Active

• Open House

• Under Contact

• Sold  

• Print Materials 

• Open House Flyers

• Property Information Flyers

• Brochure 

• Print materials are sent digitally to be printed by agents with their preferred method. The Transaction Coordinator, upon written approval, can send print materials to the agent's preferred professional printer.

• Agent is fully responsible if any violations or compliments arise for materials that violate guidelines of national associates, local associates and/ or real estate boards.

Will Glass Transactions post the social media graphics on behalf of the agent?

No, Glass Transactions will not post social media graphics on behalf of agents.

Agent is fully responsible if any violations or compliments arise for social media posts that violate guidelines of national associates, local associates and/ or real estate boards.

Do marketing materials include logos and disclaimers?

Yes, marketing materials will include logos and disclaimers. Agents must provide logo and disclaimers to be included on digital and print materials. 

It is the agent's responsibility to confirm that all marketing materials meet their brokerage requirements.

What do print materials look like?

Glass Transactions provides several templates available for social media and print marketing. During agent intake meetings with Glass Transactions agents will be shown templates and be able to choose their preferred templates. 

If agents have templates currently used for marketing materials, will Glass Transactions be able to use these templates?

Yes, if an agent would like to use their own marketing templates for creation of marketing materials the transaction coordinator will use these templates to create marketing materials. *It is the responsibility of the real estate agent to confirm that agent provided templates are not owned or copyrighted by other parties.*