TC & Dispositions Pipelines & Drips & KPIs 📊 🔄

Standard Operating Procedure for Contract Management and Disposition Process

Objective

This SOP outlines the steps for managing contracts and the disposition process after a contract is signed, ensuring a smooth transition from contract signing to closing.

Key Steps

1. Contract Received 0:27

• Determine the type of deal:
  • Fix and flip
  • Innovation
  • Other exit strategies as applicable.

2. Gather Marketing Assets 0:42

• Collect necessary marketing materials and assets for the property.

3. Marketing Property Stage 1:01

• Transition to the marketing property stage:
  • List the property or seek potential buyers.

4. Identify Potential Buyers 2:04

• The disposition team should:
  • Submit forms for potential buyers.
  • Utilize smart lists of buyers.

5. Manage Buyer Responses 3:13

• Monitor responses from potential buyers:
  • Move interested buyers to 'Showing Requested' status.

6. Schedule Showings 3:33

• Coordinate showings:
  • Check seller availability.
  • Update showing address and seller's phone number in the system.

7. Update Showing Details 5:10

• Set up the showing in the calendar:
  • Use the current showing address.
  • Update appointment title to reflect the showing.

8. Track Showings 6:07

• Monitor showing statuses:
  • Update to 'Showing Held', 'Showing Canceled', etc.

9. Handle Offers 6:28

• Review offers from potential buyers:
  • Approve or deny offers.

10. Move to Closing Stages 6:47

• Once an offer is accepted:
  • Transition to 'Pending Title' and 'Closing Schedule' stages.

11. Finalize Closing 8:08

• Ensure all steps are completed:
  • Move to 'Close and Funded' status.

Cautionary Notes

• Ensure all fields are accurately filled out to avoid delays in processing.
• Double-check buyer qualifications before moving them to the next stage.

Tips for Efficiency

• Use templates for marketing assets to save time.
• Regularly update the smart lists of buyers to ensure they are current.
• Communicate frequently with the transaction coordinator to ensure alignment.

Link to Loom

https://loom.com/share/b0d82819e47a46228c17417c2584429f

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