Melissa Pica is a Realtor and the team manager for The Lioce Team in Mendon
I have the good fortune to be working on a real estate team that closed 93 transactions in 2014. One of my responsibilities as the Lioce Team Manager is to make certain the process goes smoothly, and stays on track, all the way to the closing table.
The heavy lifting in getting to the closing table begins with the moment offer is accepted, and runs through any home inspection issues getting resolved and the P&S getting signed – and it still doesn’t end there.
Staying organized and following the tips outlined below will be key to making this happen.
4. Communicate with Everyone – it is Key!
- Communicate with your client to be clear they know what is expected of them, and what you’re going to do to help them.
- Keep an open line of communication with the Realtor on the other side of the transaction, so you can share information.
- Communicate with lenders, attorneys and paralegals, keeping them informed all the way up to closing time – the more they know, the better they can assist in the process.
Email is great for documenting and reminders, but don’t underestimate the power of a phone call to communicate difficult or confusing situations.
It’s simple. We are all working to accomplish the same goal – close the deal.
3. Pay Attention to the Details – Never assume that things will get done. Follow up with everyone to be certain that the appraisal is ordered, commitment dates are met and things are moving along according to schedule. If extensions are needed, stay on top of that too; there is nothing worse than trying to track down the necessary parties for their signature on a Friday, after 4 p.m.
2. Expect the Unexpected – You should expect the unexpected, from a broken pipe on the day of closing, to a buyer showing up at the closing with a debit card instead of a bank check (it really happened). Strange things can crop up as you move forward to closing, and if you are prepared, they usually can be resolved quickly. It’s important to get right on it, remain calm and brainstorm to find the right solution to avert the crisis.
1. Be Prepared – An important tool to have in your bag-of-tricks is a list of reliable vendors that you can make available to your clients. Maintaining a great working relationship with these vendors is also very important, as it will allow you to place a last-minute phone call for their help and provide you with the confidence that your call will be answered.
Melissa Pica is a Realtor and the team manager for The Lioce Team in Mendon. A 20-year veteran of residential real estate, Melissa is a member of the National and Massachusetts Association of Realtors, the Massachusetts Greater Boston Real Estate Board, the Charles River Bank Advisory Board and past president of the Milford Junior Woman’s Club.