Whenever we’re onboarding new clients or answering questions for prospects interested in using our services in the near future, two questions in particular get asked the most often:
How do we get compensated?
Can we draft addenda for the real estate agents that we serve?
To answer the first question, we get compensated when you get compensated. If the transaction closes and we’ve put in the work to help you close that transaction, we’ll get compensated for that work. If the transaction doesn’t close, however, we don’t charge you a fee and we don’t get compensated.
We believe in building a partnership with you and we know the challenges of the market. There are times when deals fall apart where we may have done a lot of work up front, but we won’t charge for that because we know that you did a lot of work up front and you’re not getting paid for it either. Most of the time when a deal falls apart, the real estate brokers we work with are very good at getting whichever client they were working with under contract somewhere else and moving the deal forward.
To answer the second question, yes we do draft addenda for the brokers we serve. Our transaction coordinators are licensed, which gives us the ability to draft addenda and manage that process.
The one thing we don’t do while drafting addenda is write down verbiage. This is because of liability reasons. If a broker needs addenda drafted, they give us the language they want to use for it and we make sure that language gets placed onto that addenda verbatim. We then manage that process to get signatures from the respective parties, whether that’s the buyer, seller, another real estate agent, or whomever. We then send that document out to the right parties that it needs to go to within the transaction. This creates more efficiency for the broker so they can keep moving forward and growing their business.
Stay tuned for future videos where we’ll address more frequently asked questions. In the meantime, if you have any questions, feel free to give us a call or send us an email. We’d be happy to help.