The San Francisco Real Estate dream team
Today we are going to talk support.
The support I have not only to keep my business running and a high level but the team I have built throughout the years to keep my buyer and seller transactions running smoothly, at least as smooth as possible. We will get into who's involved at which stage and what they do.
First, let's get into the team I have for my business
I have been in business for a decade now. It started off as just me. Just me learning all the aspects of real estate, being a fiduciary figure, being a realtor, customer service, finances. And then I realized that being a Realtor is being an entrepreneur, you are literally running a start up.
Nobody is there to give you work, tell you how to handle it, or anything. You are simply thrown into the harsh world and have to somehow swim to the top. That is if you want to swim to the top. Obvi.
Very early on it became clear to me that I wanted to do the big deals, play with the big kids, be responsible for lots of money and I needed to brand myself and market myself. I want to be the best. The best has support.
This is my support team to be at the top of my game, present myself the way I want to, stay on top of the knowledge, think creatively and always be able to find answers.
Marketing director.
Email marketing director and executor.
Compass marketing team.
Sales manager
Compass real estate attorney
Agents I cooperate with when I am unable to handle client loads or out of town. Have 3 amazing woman realtors here in SF who back me up whenever I need. We have co-listed and referred clients to each other.
Network of Agents in other markets such as east, north, south bay.
My team for a buyer transaction
Lender. This member changes depending on what institution the buyer decides to work with. Most often I give the referral and know the person I am working with. Other times I do not so it's essential that I set up this relationship by setting expectations with clear communication.
This is how the lender is involved in the transaction.
-remember, your lender is funding your loan so that makes them a partner in this transaction with you, they need to verify the house and price and be included every step of the way
They need to be informed immediately once your offer is accepted and we are in contract because time is very important here.
-they must order an appraisal immediately.
-They are the final say as to when we can close escrow.
-I am constantly communicating with them if they need anything regarding appraisal, if we are still on track with time frame, or anything else they need from me to speed up the process.
-once the appraisal comes in and that hurdle is crossed then they need documents from me that are specific to the property.
-They need to be in touch with the escrow officer because they will fund the money into an escrow account.
-They send their financial demand to the escrow officer and they review with the buyers.
-Lenders must sign final closing documents like the buyers.
Lots of moving parts for the lender.
2. Escrow and title officers.
What is escrow? I have a whole blog article on it.
When we get into contract escrow is opened the very next day. Escrow is a company that handles the time period of acceptance to close and its a secure account where the lender/seller funds and the funds are then dispersed after the sale.
What is title?
Title companies make sure there are no legal issues or disputes in your ownership. The way you decide to take title, or ownership of the property is what a title company protects if you get title insurance which is mandatory if you are working with a lender. You don't want someone someday disputing that they actually own the property you bought.
In San Francisco title and escrow officers are the same company. One company for 2 services.
At the end of the transaction the buyer signs final closing documents at the title company. They are the ones that record the deed with the county and make sure title/ownership is passed to you.
The title/escrow company needs the executed contract from me and any relevant documents about the property. They also need to be in touch with the lender to coordinate funds, timing, and docs.
3. Transaction coordinator. This person is on my team and is constant.
There are many documents that need to be signed in the transaction, the TC makes sure we have them all, sends missing documents for signatures to the correct people, and files them correctly with our brokerage, and the dre.
My TC is cc’d on almost every email, she is in communication with the lender and escrow, the buyers, and the sellers agent if need be.
4. Lets not forget the seller's agent who we are in contract with. I am in communication with them but it's not constant if each one of us knows what we are doing. The initial contract lays out dates for everything so communication is limited in best case scenarios or a lot in worst case.
Now let's look at my team for a seller transaction
The first team member is obviously the sellers. This team has to be strong, committed, and trust each other with strong communication.
-We must organize our schedules for the house, the marketing, offers…
-We need to be prepared for the road ahead and I prepare them, with the strategies, data, and market research
-We need to prepare the disclosure package
-We need to prepare for inspections. (I use specific inspection companies for this)
2. My team to get the house ready for staging.
-my cleaning crew
-my painters
-my handymen
Sometimes I have to find new team members like
-window washers
-gardeners
-more skilled craftsmen
3. My stagers. Depending on the property different stagers have different strengths and prices. I am in communication with them on when to remove staging. A specific time which is after acceptance of a contract and before the buyers final walk through.
4. Title and escrow officers. Throughout the years I have worked with many officers and have found the few I love that are detail oriented.
Working on the sellers side we need to pull a title report to show potential buyers.
We need to open an escrow for when we get into contract. Remember, the escrow company holds the funds from the buyer and disperses them when necessary. They also record all deeds.
-I notify them every step of the way from acceptance of offer to closing
-they are in communication with buyers agents, seller clients, lenders, and my team to close on time.
5. My marketing team. For each property we develop a detailed marketing plan whether that is a property website, article features, videos, spotlights, and much more.
6. The buyer's agent. We work together to negotiate the transaction and make sure its smooth
Lots of people right?
