When Form 8865 Transaction 2023-2024

Hello everybody, this is Tim Brooks with the Brooks group at Keller Williams Realty. Today, I'm very excited to present to you a real estate transaction overview, a bird's eye view of the real estate transaction. It starts from the very beginning when we're first meeting with a prospect, all the way through the end when we're collecting a check at the closing table. Now, I want you to start thinking about the deal flow of a real estate transaction in two phases. The first phase is the sales process, which includes meeting your client, prospecting, and negotiating and ratifying a contract. The second phase is the contract to close phase, which includes contract ratification to closing. In this overall view of the transaction deal flow, the seller's portion is on the left-hand side and the buyer's portion is on the right-hand side. Notice that the seller has fewer steps in the transaction process compared to the buyer. Let's start on the seller side. We begin with a listing appointment, where we go over the market analysis with them and the listing paperwork that makes them a client. We also have them sign all the disclosures which will be given to the buyer as an offer and then a ratified contract. We present the CMA and establish a listing price during this initial meeting. Once we have a signed listing, we go back to the office to put it in the MLS and start advertising through various means, including the MLS, lists hub, and boomtown. We also make cold calls, hold open houses, and order professional photographs for the property. The goal is to minimize property visits, so we try to do as much as possible in one go. Moving over to the buyer side, there are more steps involved....