This has got to be the most detailed and thorough elaboration on how a Real Estate Transaction works, for BOTH sides. Tim, thank you so much. I'm about 5 months fresh into Real Estate, and nobody has been able to tell me how it goes from start to finish without a plethora of gray areas in between. This was immaculate!
First question; If paying cash do I just skip all the loan oriented sections of the flow chart? Second question; Is homeowner's insurance mandatory for the process?
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This is the single most helpful thing that ive seen, out of all my classes, books and licensing. Ive been emailing brokers, my "realtor school" where I got prepped and got my license and others to get help knowing the process. I'm not sure how they don't go over this before licensing people.
same here, im surprised how difficult it is to find information on real estate fundamentals everything for me is like pulling teeth. good luck out there
I agree. The fact that I had to come to youtube for the information is mind boggling. You would think this would be one of the first things covered in Real Estate courses.
Hello Tim, I'm a Realtor in the NY area. This is a great video explanation, one I wish I had when I was new. I will recommend your channel. Would you be so kind as to send me pdf version of this flowchart perhaps? Thanks for your efforts.
I am a new agent with KW, 5 weeks now and this video has put things more in perspective. I have subscribed and liked this video. Thank you for putting this together.
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You can find a link to a pdf of the flowchart in the video description. I hope it helps and good luck. I hope real estate changes your life the way it did mine.
@timbrooks this is fantastic. Would you possibly willing to share the PPT or word version so it may edited for slight variances per state (mainly dates). I utilize in to show value to my clients in what all we do on their behalf!
Thank you, I know that this video was done years ago. However, it is the most detailed description of a real esate transcation that I've seen since becoming an agent 10 months ago. I have went to so many trainings and it has never been shown in this manner. Thank you again.
I appreciate this detailed walk through on a real estate transaction easily explained and and understood!! Any videos on extension of closings or sellers not wanting to close on agreed date
Crazy how they nobody REALLY explains the complete processes in any of the required RE classes. I come to RU-vid to answer all the practical questions I have.
“And all is well with the world” 😂😂😂 LOL after so many panic attacks, anxiety and childish behavior from the buyers sometimes! I once was a Realtor and some of my clients were not the most amazing humans lol
Nice explanation. I had to take a transaction coordinator class to learn what I needed to know. No one clued me in to using the forms advisor in Zipforms. I made a spreadsheet that looks close to your flowchart. I included the documents needed as well. Great job!
Hey Diane, I was an agent but transitioning into the Transaction Coordinator side of things. I am totally new at this and would love any insight you could assist me with. Thanks in advance :)
This is a good overview but you seem to provide more information that is very helpful but not listed on the pdf.. I watched the video and followed a print out of the chart.. also you were kinda all over the place after the first negotiations when inspection, insurance and appraisal were being explain... I will continue to watch it lol You're great thank you for this
Already learned the process by my school but just watching how much I actually learned over these past few weeks is crazy. Great video. Very good info for new coming agents very in detail👍🏼
This is exactly what I was looking for. I'm 2 weeks in and started researching for this on my own and the pdf is the exact same thing my director of operations sent to me today. Smart minds think alike! Love this, the flow chart and video! Thank you!
Thank you. I am an agent who list my own house. I found a buyer. Do you have a flowchart for a seller & buyer transaction? Are there some references of forms to use so I can compare?
Tim, brilliant video! I was working on making a flow chart of a real estate transaction... then decided to see if someone else did already. And Bam! this video is amazing thank you.
I already likes and subscribe I’m really like the content this is very helpful thank you very much please keep posting I’ll give you like and Subscribe for sure.
How will I know when the lender has the buyer sign the Loan closing disclosure? Will the lender or title inform me, or do I need to periodically call both to see if this was done. I am trying to stay on top of this so I know when my buyer can go to signing before or on closing day. ... My broker didn't explain in detail and gets annoyed when I ask him to explain in detail, but I want to know as much as I can so when my clients asks I have info ready for them. Can you make a video or just straight up tell me how to break-up with my shitty brokerage, and what to say to maintain professionalism? It's a painful experience to be with a broker who is really a busy agent acting as a broker to make extra money on the side, because he doesn't really enjoy teaching and explaining details of the transaction.
And 5 years later, this video is extremely helpful to a new agent in California! Thank you for explaining the transaction process in such a clear and simple way 🤩
All of this is great. I worked in the mortgage financing side. I was an appraiser coordinator and order all the appraisal. Getting appraiser to completed the appraisal in 5 business days was a challenge , the delay was often do to Covid. Anyways now I'm thinking of getting into a real estate Transaction coordinator position. This videos are very helpful.
This is the most helpful info I’ve found as a new real estate agent!! Is it safe for me to share this pdf with my curious clients if I give you credit? 😂
That the bills she or he is talking about saying if it was rental it was what do you call her that Woodford big to the lender I don't believe it with lender but you have to it 900 score to a 567 score and you know why it like that they went to collection
what happens when the buyer has no agent or representative and refuses to sign disclosure for any agency requirement...as you know due to the internet many customers are unrepresented.............then how do u handle this with your principal...disclose or undisclosed?
How does it work when you have renters in a property and you’re not sure if they’re paying rent do you have to get in escrow and make an offer before you can get that information I’m looking at a property now and it seems like the renters are not cooperating with the owners but we’re not getting any more information and can’t look at the property.
This is most awesome Tim! Thank you. I am teaching my teenage son regarding this flow. Thank you for taking the time to do this for agents. May God bless you for your kindness.
I am so grateful for this video! So many videos on here give all these tips but never go into actual detail and leave things very blurry and confusing for me as a new agent. Thank you for this video
Fantastic Video Tom. This is just the information I have been looking for as I will be finding an agent and listing my home for sale in NC to move back to Northeast PA right after the holidays. You explain the process in precise easy to understand terms for both the buyer and seller. Thank you.
thank you no one has explained this to me at my Keller Williams yet and this has been extremely helpful to build my basic knowledge. Have saved and written this down as well.
I retired after 39+ years in IT - formerly Data Processing before the rebranding - so I really appreciate the flowchart explanation. I am now studying for my real estate exam and the information you've presented here fills the gap. Tools of the trade are certainly important - required forms, laws and regulations to follow, marketing materials, etc. - however the process by which one brings all these to bear is crucial. Your capsuled explanation I find is concise and revealing in that it allows for look back over the entire transaction. Excellent presentation. I just found this so please excuse the late post.
@@bunnyman6321 Sorry, I had not been monitoring email for this account. Well, I completed my studies and passed the state/national exams in November 2022. I have been an active sales agent now for almost four months. Haven't closed a transaction yet but on track.
So do you need to be in contact with the title company before the offer is made? Or do you just say "hi our offer was accepted and we need a title company to work with" and give them the earnest money after? Hope that makes sense
First time home buyer and this was so good to see in detail what all the parts are. My agent is great but this I can actually see instead of being explained to.
Just got my realtor license three months ago I'm super excited but also very overwhelm. Thank you for the Transaction Process Flowchart. This definitely gives you an idea of how to guide your client in buying a home. But it looks like finding the sellers is the way to go.
THANK YOU SO MUCH. As a new student in real estate, this really put so much in perspective for me. I learn better with visuals and now I don’t feel lost anymore in my head. ❤ You got my subscription and support easily. Tim Brooks, you’re a rockstar.
Hi, First of all great video. I have a question, is the title cpmpany differentg from escrow? And who chooses teh title company? the buyer or seller? also for the final paper work to be signed do buyer and seller go to escrow or title company? Thanks
