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Power Session 17: Contract-to-Close
and Postclose Systems
Bulletproof the Transaction
Roger Higle and Brenda Marshall
Table of Contents
Power Session 17: Contract-to-Close
and Postclose Systems.................................................. 17-1
Checkpoint.................................................................. 17-2
Report on Your Results.. ................................................................... 17-2
The Daily 10/4............................................................. 17-3
Get Your Head in the Game.......................................... 17-4
Today’s Plan of Action. . .................................................................... 17-5
Affirmation of the Day..................................................................... 17-5
Make It Happen........................................................... 17-6
The Contract-to-Close Process......................................................... 17-7
Perform Your Agent Responsibilities............................................... 17-9
Be a Problem Solver....................................................................... 17-11
Create Buyer and Seller Closing Packets
................................... 17-13
Leverage Your Resources. . .............................................................. 17-20
Implement Postclose Systems. . ....................................................... 17-22
Aim High................................................................... 17-24
Customer Service Focus................................................................. 17-24
Recap What You’ve Done............................................................... 17-26
Get to Work............................................................... 17-27
Your Action Plan............................................................................ 17-27
Your Job Aids. . ................................................................................ 17-28
Your Daily 10/4 Assignment. . ......................................................... 17-28
Aha’s.. ............................................................................................. 17-29
2. Your Database
7. The Buyer
Consultation
Market Center
Topics
15. Price Right
and Present
Your CMA
6. Prepare to
Work with
Buyers
Market Center
Topics
14. Your Prelisting
Packet
and Listing
Consultation
Tuesday
1.Rev Up
Monday
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
18. Accountability
– Check in on
Your Numbers
and What’s
Next
17. Contract-toClose and
Postclose
Systems
16. Market and
Ser vice Your
Listings
13. Accountability
– Check in on
the 4-1-1
12. Find Seller
Leads
11. Negotiate
Win-Win
Agreements
10. Accountability
– Check in on
Time Blocking
5. Accountability
– Check in on
Your Goals
and Big Why
Friday
9. Make and
Receive
Offers
4. Prospecting
Thursday
8. Find and Show
Homes
3. Open Houses
Wednesday
Ignite Power Session Training Calendar
Power Session 17: Contract-to-Close
and Postclose Systems
You are here!
17-1
Checkpoint
Report on Your Results
STOP
and DO
Your Daily 10/4
Four Habits
Build and Manage Your
Database
Add 10 people to your
database.
Prospect
Connect
with 10 people.
Follow Up
Write 10 notes.
Know Your Market
Rating:
Results/
Ratings
Daily Goal
Wins and
Opportunities
Preview 10 homes/week.
() Met the goals of 10
() Exceeded the goals of 10
(–) Didn’t quite meet the goals of 10
Time: 1 minute
STOP
and DO
Your Milestones
Milestones
Results
Appointments
Agreements Signed
Contracts Written
Contracts Closed
Time: 1 minute
17-2
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
The Daily 10/4
1. “Power Up” and get a head start on today’s 10/4 goal.
• Watch the KW MAPS Coaching daily Power Up video
with Dianna Kokoszka.
• Shout this affirmation:
My business is growing abundantly!
2. Use the scripts you’ve been practicing from earlier sessions.
• Ask your Mets for referrals—leads as well as business
resources.
• Invite people to your open house.
• Interview potential Allied Resources.
3. Smile and dial!
• Make as many calls and write as many corresponding
note cards as you can in 15 minutes.
4. Your results count toward your Daily 10/4! Be sure to
include them in myTracker.
Real-Play Results
I made _________ calls.
I made _________ connections.
I got _________ referrals.
I got _________ appointments.
What went right?
TIP
Find KWConnect on
mykw.kw.com. Search
for “power hour.”
What were the challenges?
How can you power through the challenges next time?
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
17-3
Get Your Head in the Game
Win for ...
You:
Your transactions
close at an
extremely high rate.
It is ver y rare for
you to lose a deal in
the contract-to-close
process. Successful
closings mean more
income for you,
great relationships
going forward—
more business and
referrals.
Your Customers:
The purchase or sale
they expect happens,
in the shor test
amount of time with
the least hassle. You
become their real
estate resource of
choice.
Closing is not an event, but a complex process that involves a
series of steps, multiple parties, and a myriad of details. As a
customer service professional, it is your job to oversee that all steps
are completed on time and all parties are aware of their roles and
what’s expected of them. Essentially, your role becomes that of
project manager.
A successful contract-to-close process has three outcomes:
1. The transaction closes on time, as expected.
2. The process is smooth and painless for all parties involved.
3. You win future business due to your 10+ customer service.
In order to achieve these outcomes, you need to be at the top
of your game. This is not a time to “wing it!” Stay organized by
following checklists and schedules, and communicate clearly and
frequently with all stakeholders in the transaction.
Taking the checklist approach to closings helps ensure a greater
likelihood that more transactions will close in a satisfactory way.
And because successful closings lead to great relationships with
satisfied customers, you increase your opportunities for referrals
for future business.
Countdown to Payday
Leads
Appointments
Contract-to-Close and
Postclose Systems
Agreements
Contracts
Closings
$
17-4
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
G
ary Keller, cofounder and chairman of
the board of Keller Williams Realty,
believes that during closing, agents
have two agendas: (1) to move the current
transaction toward a successful closing and (2)
to ensure referrals. He comments, “Most agents
don’t get that.”
Gary personally endorses using the checklists in this Power Session
to get the transaction closed properly and gain referrals. Whether
you represent the buyer or seller, sit down with your client and walk
them through the appropriate checklist to make sure they know
what to expect and that nothing is missed. Then, do the same with
the other agent, the title company, the mortgage company, the
appraiser, the inspector, etc.
If you keep clear about your short-term goals—properly closing your
transactions—while keeping up with your Daily 10/4 activities,
Gary promises that “you cannot fail.”
Today’s Plan of Action
This Power Session gets you on track with the following seven
steps:
1. Study the basic steps in the contract-to-close process.
2. Identify your contract-to-close responsibilities when
representing buyers and sellers.
3. Explore common issues that can occur in the contract-toclose process and workable solutions.
4. Review the contents of typical buyer and seller closing
packets.
5. Learn how to leverage your resources.
6. Discuss ways to implement postclose systems.
7. Find out how to ensure referrals for the long term—and
win clients for life.
Affirmation of the Day
When I end my day,
I feel great about what I’ve accomplished!
KW MAPS Coaches
Corner with Dianna
Kokoszka
Dianna Kokoszka,
president of KW MAPS
Coaching, Austin, Texas,
says, “Closing is the end
of the process and it’s your
time to shine! Buyers and
sellers forget a lot of things,
but they don’t forget the
end.”
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
17-5
Make It Happen
TIP
Closings are often an
emotional and anxious
time for the par ties
involved. Be sensitive
to this when you talk
to your clients, and
keep them up-to-date
to help alleviate their
concerns. There is
no such thing as too
much communication
during the contractto-close phase.
“The first part
of the real estate
sales process is
the hard, focused
work of making
connections
and achieving
agreements … the
second part is the
wide-eyed vigilant
guardianship of
the transaction
until it makes it to
closing.”
Closing, sometimes known as “settlement,” is a detail-driven process
that brings together a variety of parties to legally finalize the sales
transaction. Depending on the specific details and location of the
transaction, the parties to the sale may include the following individuals:
• Buyer(s)
• Seller(s)
• Co-op agents
• Lender (loan officer,
mortgage processor)
• Attorney(s)
• Closing/escrow company
(closing officer, assistant)
• Third parties (loss
mitigation, relocation,
estate, etc.)
• Referral sources (agents,
past clients, relocation, etc.)
As project manager of the transaction, you must ensure that all
parties deliver on their commitments—on time—and know what
is expected of them. Your keys to success in the contract-to-close
are to:
• Be familiar with the steps in the contract-to-close process
so that you can keep things moving—don’t allow the
process to get hung up.
• Use checklists to ensure that each party is following
through with their responsibilities.
• Communicate with all parties to the sale at every step.
Always set expectations about how and when things will
happen.
• Think in terms of alternatives—be a problem solver. If the
right thing does not happen, what is another option?
• Reassure your client at every opportunity.
SHIFT
17-6
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
The Contract-to-Close Process
Free Download
Following is an overview of the general contract-to-close process.
Specifics will vary according to state, province, and local
regulations.
The Flowchar t is
available in the toolkit
on the Ignite course
page at kwu.kw.com/
ignite.
Basic contract-to-close process flow
OFFER
REJECTION
ACCEPTANCE
INSPECTION
REJECTION
INSPECTION
REPLY
COUNTER
OFFER(s)
ACCEPTANCE
ACCEPTANCE
CLEAR TITLE
LOAN
UNDERWRITTEN
LOAN FUNDED
REJECTION
OTHER ESCROW
INSTRUCTIONS
HUD 1
CLOSING
OWNER
POSSESSION

LEGAL
RECORDING
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
17-7
Steps in the basic contract-to-close process
• Offer: Contract proposal from the buyer received by the seller through
their agent, extending terms, which, if agreed, form the basis for a sales
contract.
• Acceptance: Seller accepts all proposed terms and conditions and is
ready to sign the contract and move toward closing.
• Counteroffer(s): Seller’s amendments to the offer, creating an
opportunity for further negotiation with the buyer. The buyer may
reply.
• Rejection: Seller decides not to pursue the offer further, or buyer rejects
a seller’s counter—ending the negotiations.
• Inspection: Buyer conducts all required or desired inspections—
physical, environmental, etc.—and receives a report (if a professional
inspector is used).
• Inspection Reply: Buyer’s document itemizing desired improvements or
repairs resulting from observations or tests performed during inspection.
• Inspection Reply Acceptance or Rejection: Seller determines their
response to the inspection reply and amends contract terms to reflect
what they are, or are not, willing to do to comply with the buyer’s
requests. This process, a further negotiation of the contract, continues
until it is either totally resolved, or until the contract fails.
• Clear Title: Buyer and seller have an opportunity to review a
preliminary report of title (local forms of this vary) that reflects whether
any encumbrances, liens, or other issues have been discovered that
might prevent the buyer from taking clear title to the seller’s property.
• Loan Underwritten and Funded: While the buyer and their agent have
lead responsibility here, the listing agent also has a responsibility to the
seller to assure that the buyer’s loan is progressing with all due haste—
and that it will fund for closing in a timely manner.
• Other Escrow Instructions: Either or both parties may have given the
title and or escrow company (in some states these two are one and the
same) special instructions about disbursement of funds. Both agents
have a responsibility to make sure any questions about the disbursement
details are answered to avoid last-minute delays.
• HUD 1: Federally required (in the United States) document
summarizing charges and credits to the parties at closing is made
available to both agents several days before the parties sign—for review,
and to ensure all instructions have been followed and all costs and
proceeds are understood and agreed.
• Recordation and Possession: The transaction becomes part of the
records of the local government entity with jurisdiction, and the
transaction is complete. The buyer takes possession of the property that
the seller has vacated, unless a seller carryover or buyer preoccupancy
has been part of the contract.
17-8
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.

• Closing: Parties each sign the required documentation with a title
and or escrow officer present to oversee the signing process. Funds are
presented by the buyer or the buyer’s lender to satisfy terms of the sale.
The seller receives their proceeds from the sale.
Perform Your Agent Responsibilities:
Contract-to-Close Checklists
Free Download
Working your way from an accepted sales contract to the closing
that rewards everyone requires that you follow a great checklist.
The Buyer and Listing
Agent Contract-to-Close
Checklists are available
in the toolkit on the
Ignite course page at
kwu.kw.com/ignite.
Here are two such checklists—one focused on the buyer agent’s role,
and one on the listing agent’s role. Understand them and use them.
As you progress in your business, you may modify them—to put
them in your own words and to reflect local laws and practices.
Buyer Agent Contract-to-Close Checklist
Task
When
Submit contract and earnest
money to title/escrow company
Date specified in contract
Deliver earnest money to listing
agent
At execution of contract

As early as possible

Obtain loan approval in writing
As soon as possible

Negotiate for repairs and
treatments
After inspections, use amendment
to request repairs and treatments.
If there is a contingency period,
this should be done before the
dates in the contract

Schedule survey (if necessary)
Within deadlines of contract

Schedule appraisal (or ensure
appraisal has been scheduled)
Within ten days of loan application

Schedule closing appointment, if
necessary
The week of closing

Final walk-through with buyer
After repairs and treatments are
complete, before closing

Coordinate move-in dates
Work with listing agent to
coordinate dates

Confirm that loan will fund on time
for closing
Work with lender to determine
date

Have client review HUD-1
Settlement Statement with closing
or escrow agent for accuracy
Prior to closing

Receive your payment (from title/
escrow company)
TIP

Schedule structural and termite
inspections. Arrange geological and
other inspections, if needed
Attend closing (required in some
states)

Done
Throughout the
entire contract-toclose process, follow
up regularly with
the closing/title/
escrow company and
the loan officer to
be sure ever ything
is progressing on
schedule.

After closing and funding

Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
17-9
Listing Agent Contract-to-Close Checklist
Task
TIP
Both agents should
attend the closing to
be a resource to their
clients and to be sure
items (keys, security
codes, openers, etc.)
providing access,
security, and use of
the proper ty are
turned over to the
buyer.
It’s also a chance to
thank your client and
ask for referrals!
When
Open title
As soon as contract is signed

Submit contract and earnest
money to title/escrow company (if
not completed by buyer’s agent)
and obtain receipt
Date specified in contract

Deliver earnest money to title
or escrow company or seller
(depending on state)
Given to you by buyer’s agent at
execution of contract

Coordinate inspections
Buyer’s agent will most likely
schedule inspections, but you
must maintain regular contact
with them to ensure timings work
for your seller

Receive written confirmation on
loan approval
As soon as possible

Negotiate repairs and treatments
After inspections, use an
amendment to request repairs
and treatments. If there is a
contingency period, this should
be done before the dates in the
contract.

Schedule survey (if necessary)
Within deadlines of contract

Ensure appraisal has been
scheduled
Within ten days of loan
application

Coordinate move-in dates
Work with buyer’s agent to
coordinate dates

Schedule closing appointment, if
necessary
The week of closing

Final walk-through with buyer
After repairs and treatments are
complete, before closing

Have client review HUD-1
Settlement Statement with escrow/
closing agent to ensure accuracy of
debit and credits
Day before or day of closing
(before you go to closing)

Go to closing (if required in your
state)

After closing and funding


Receive your payment (delivered
from title/escrow company)
17-10
Done
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
Be a Problem Solver
Part of being a great problem solver is taking advance inventory
of things that can go wrong in the contract-to-close phase of a
transaction.
Common Issues and Solutions
STOP
and DO
With a partner, fill in the blanks. Identify possible solutions to common
issues in the contract-to-close process.
Time: 5 minutes
Contractto-Close
Issues
How Things Go
Wrong
Solutions
1. Surprise findings
Inspections
and Repairs
2. Repor t is
complex or
confusing
Attend inspection with your
client and other par ty
3. Costs and “who
pays”
Prenegotiate limits on
inspection-related costs
4. Timetable for
repairs
Select and supervise
preferred vendors
5. Doubt about
wor thiness
Prepare and reassure your
client about how things
will happen, and document
work in invoices
6. Won’t suppor t
price
Appraisals
7. Won’t suppor t
the loan
Find additional buyer funds
or funding (provide seller
financing option?)
8. Doesn’t match
the CMA
(continued)
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
17-11
Contract-toClose Issues
How Things Go Wrong
Solutions
9. Application delays
Select loan originator and
get preapproval
10. Documentation
problems
Assist buyer with
paperwork
11. Buyer credit issues
Loan Approval 12. Lender failure to
approve
and Funding
Reapply with corrections
13. Lender failure to fund
14. Buyer credit changes
Give/Get a preclosing credit
warning
15. Third-par ty approvals
Know who’s involved and
communicate
16. Sale of buyer’s home
Take a backup offer
17. Take a backup offer
Know who’s involved and
communicate
Other
Contingencies 18. Shor t sale/relocation/
estate approvals
Know players, steps, and
timetable
19. Clouded title
20. Bad advice or
communication
Co-Op Agent
Deadlines
17-12
Always clarify messages and
intentions
21. Inattention to detail
22. Poor vendor selection
Provide a vendor list and
backup
23. Inspections and repairs
Confirm all appointments
and progress
24. Closing date
Build in buyer and seller
flexibility
25. Occupancy
Preset dates, limits, and
penalties
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
Create Buyer and Seller Closing Packets
To prepare buyers and sellers for closing, create a closing packet
for them. The purpose of the closing packet is to provide your
client with the necessary forms and information on what to expect.
In a folder, insert the items listed below.
Closing Packet Contents
Buyer
Seller
1. Introduction Letter


2. Closing 101 Guide


3. Ways to Communicate


4. Copy of Contract


5. Inspection Repor t

6. Self-Addressed Stamped Envelope


7. Business Cards


Examples of the closing packet contents are shown on the
following pages.
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
17-13
1. Introduction letter
Free Download
For buyers
Templates for the
Introduction Letter
for both buyers and
sellers are included in
the toolkit on the Ignite
course page at kwu.
kw.com/ignite.
[Today’s date]
[Client’s name and address]
Dear [Client Name]:
Congratulations! Your offer was accepted! It requires a team effort to get to closing, so I have enclosed
an overview of what to expect between now and then. It is very important, so please review it carefully.
Important Dates to Remember:
• EffectiveDate________
•LoanApplicationDeadline________
• Inspection Deadline________
•LoanCommitmentDue________
• Inspection Response________
•AdditionalEscrowDue________
• Termite Inspection________
•ClosingDate________
Reaching a successful closing requires paying attention to an incredible number of details. [The closing
company] will work closely with you now to make sure all details are handled.
Asalways,mygoalistohaveasmoothclosingprocessandtorelieveyouofanyunnecessarystress.
Please feel free to contact me with any questions.
Sincerely,
[Your name]
Keller Williams Realty
[Your phone number]
[Your email address]
[Your website URL]
K E L L E R
W I L L I A M S
1221 SOUTH MOPAC EXPRESSWAY, SUITE 400 | AUSTIN, TX 78746
R E A L T Y
Phone: 512-327-3070
Fax: 512-328-1433
www.kw.com
Each Office is Independently Owned and Operated
17-14
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
For sellers
Free Download
Templates for the
Introduction Letter
for both buyers and
sellers are included in
the toolkit on the Ignite
course page at kwu.
kw.com/ignite.
[Today’s date]
[Client’s name and address]
Dear [Client Name]:
Congratulations! Your home is under contract! It requires a team effort to get to closing, so I have
enclosed an overview of what to expect between now and then. It is very important, so please review
it carefully.
Important Dates to Remember:
• EffectiveDate:_________________
• Closing Date: _________________
Maximum Out-of-Pocket Expenses:
• Repairs: _________________
• Termite Treatment and/or Repairs: _________________
Reaching a successful closing requires paying attention to an incredible number of details. I will
work closely with you now to make sure all details are handled.
As always, my goal is to have a smooth closing process and to relieve you of any unnecessary stress.
Please feel free to contact me with any questions.
Sincerely,
[Your name]
Keller Williams Realty
[Your phone number]
[Your email address]
[Your website URL]
K E L L E R
W I L L I A M S
1221 SOUTH MOPAC EXPRESSWAY, SUITE 400 | AUSTIN, TX 78746
R E A L T Y
Phone: 512-327-3070
Fax: 512-328-1433
www.kw.com
Each Office is Independently Owned and Operated
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
17-15
2. Closing 101 guide
Free Download
To help your buyer and seller clients prepare for closing, include the
one-page Closing 101 Guide, located in both the buyer’s guide and
Listing Presentation in eEdge myMarketing.
The Closing 101 Guide
for buyers is included
in the buyer’s guide,
available in eEdge
myMarketing.
For buyers
Passion
communication
success
buying
your guide to
trust
communication
Teamwork
Integrity
Passion
success determination
Trust
win-win
Advisor
Trust culture
Honesty
integrity
achievment passion
Service
Advisor
win-win integrity Honesty a home
local expert knowledge commitment
communication
determination
Passion
Client Name 1 Client Name 2
Closing 101
Prepare for It
Closing day marks the end of your home-buying process and the beginning of your
new life! To make sure your closing goes smoothly, you should bring the following:
TIP
Always check
with your broker
about any specific
recommendations to
clients, such as where
to go and what to
bring to closing. Add
any additional items
or edit existing items
in the Closing 101
Guide in eEdge.
• A certified check for closing costs and down payment. Make the check payable to
yourself; you will then endorse it to the title company at closing
• An insurance binder and paid receipt
• Photo IDs
• Social security numbers
• Addresses for the past 10 years
Own It
Transfer of title moves ownership of the property from the seller to you. The two
events that make this happen are:
Delivery of the buyers funds
This is the check or wire funds provided by your lender in the amount of the loan.
Delivery of the deed
A deed is the document that transfers ownership of real estate. The deed names the
seller and buyer, gives a legal description of the property, and contains the notarized
signatures of the seller and witnesses.
At the end of closing, the deed will be taken and recorded at the county clerk’s office.
It will be sent to you after processing.
Agent Name 1 Agent Name 2
Agent URL
Email Address
Phone 1
17-16
Office Name
Street Address 1 & 2
City, State Zip
Each Office is Independently Owned and Operated
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
For sellers
selling
trust
Passion
success
a guide to
communication
Teamwork
Integrity
success determination
win-win
communication
Advisor
Passion
Trust Honesty
culture
Trust
integrity
achievment passion
Service
Advisor
your home
win-win
local expert knowledge commitment
integrity
communication
Honesty
Free Download
The Closing 101 Guide
for sellers is included in
the listing presentation,
available in eEdge
myMarketing.
Closing 101
The closing process finalizes the sale of your home and makes everything official. Also known
as settlement, the closing is when you get paid and the buyer receives the deed to your home.
Here are a few things to bring to the closing:
• House keys
• Garage door opener(s)
• A picture ID
What can you expect?
The closing agent will look over the purchase contract and identify what payments are owed
and by whom; prepare documents for the closing; conduct the closing; make sure taxes, title
searches, real estate commissions and other closing costs are paid; ensure that the buyer’s
title is recorded; and ensure that you receive any monies due to you.
What are your costs?
Sellers commonly pay the following at closing:
• Mortgage balance and prepayment penalties, if applicable
• Other claims against your property, such as unpaid property taxes
• Unpaid special assessments on your property
• Document stamps (or taxes) on the deed
• Real estate commission
• Legal fee or title insurance premium
After the closing, make sure you keep the following for tax purposes:
• Copies of all closing documents
• All home improvement receipts on the home you sold
Each Office is Independently Owned and Operated
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
17-17
3. Ways to communicate
Ask your clients to complete and return this form to you so that
you can set expectations for the way communication will happen.
Free Download
This form is included in
the toolkit on the Ignite
course page at kwu.
kw.com/ignite.
Ways to Communicate
In order to exceed your expectations and make this a smooth and
successful closing, I’d like to know your expectations of me and let you
know what my expectations will be of you.
Name:________________
Property: _______________
If you get my voicemail, please leave a message, letting me know the best
time to reach you, and I will respond promptly.
Your Communication Expectations
1. During the day, what is the best way to contact you?
 Phone (Work / Home / Cell) 
Email 
Text
Appropriate number or email address:
2. If I need to call you at work, what days/hours do you work?
3. If I have to get your signature, what is the best way to handle it?
 Online e-signature  Fax Come in to office
KW MAPS Coaches
Corner
with Dianna Kokoszka
The Kokoszka Team in
Denver, Colorado, uses
the “Ten Days to Close”
system. For ten days
prior to closing, they call
their clients off and on
to let them know what
to expect next. Dianna
advises, “Don’t end
any conversation with
your client or any party
without telling them what
will happen next. This
makes them feel more
comfortable when they
arrive at closing.”
17-18
Fax number:
4. How often do you expect to hear from me?
 Only when there is news  Weekly  Other
My Expectations of You
1. Don’t hesitate to call if you have any questions or concerns. If
I don’t have the answer, I will find out or point you in the right
direction to get it.
2. Timely return of phone calls, if any return information is required.
3. Timely return of all documents requiring signatures.
Please return this form immediately with any other requested
paperwork in the envelope provided.
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
4. Copy of contract
Include a copy of the signed purchase contract and other key
forms. Highlight key dates and terms impacting the parties.
5. Inspection report
The inspection report will list the inspections that must be
ordered (per local regulations), as well as who is to order them and
their completion dates.
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
17-19
6. Self-addressed stamped envelope
“Even if you do
not currently have
any people needs,
it’s important
that you keep this
placeholder in your
goals … You will
see that your leads
are increasing
and, with them,
you’ll be seeing
a corresponding
increase in
listings taken
and contracts
written and closed.
Eventually you’ll
be looking to the
future and saying,
‘If this continues
much longer, I
am going to need
help.”
Make it convenient for your clients to return forms to you by
including an envelope addressed to yourself, with prepaid postage.
Your Name
Your Address
7. Business cards
Include several business cards—one for your client to keep and a
few more to hand out to friends and family.
Gary Keller
Cofounder and COB
Keller Williams Realty, Inc.
Leverage Your Resources
Be warned, preparing for the transaction is detailed and full of
paperwork. Look to your Productivity Coach, ALC members, or a
mentor in the office for assistance.
As you progress and your business grows, you may decide to hire a
part-time assistant to help specifically with your contract-to-close
work. Why? To keep you focused on lead generation and personal
elements of marketing and customer service.
17-20
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
STOP
and DO
Are you prepared for contract-to-close?
If your client signed a contract today, would you be ready? Make sure you
are fully prepared by having your support team and other resources lined
up. Review the action items below. Indicate which items you have already
completed and assign dates to those you have yet to complete.
Time: 1 minute
Action Item
Done
By
When
Add your buyer or seller client to your
content database.
Add allied Resources (lenders, closing
companies, inspectors) to your database.
Add business-to-business resources to
your database.
Identify a calendar system with reminder
capabilities that you’ll use to keep track of
events and deadlines in the contract-toclose process.
Leverage eEdge
eEdge myTransactions
includes a calendar
tool which links to
myContacts. This
calendar will send
you reminders so
that you don’t miss
impor tant events.
You can choose to
receive reminders in
text, email, or Google
calendar format.
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
17-21
Implement Postclose Systems
Don’t stop now! There are four additional steps to ensure all
parties, including you, are poised for the future.
1. Get paid
TRUTH
NAR repor ts
70 percent of buyers
lose touch with their
agent after closing,
but would have used
them again if they had
stayed in touch.
Most real estate commissions have rules that require files to
be turned in to their broker within a certain number of days
of execution of contract, so that the file can be audited for
compliance with state or province regulations.
To ensure that funds are disbursed at the closing table, begin this
process as soon as a contract is pending.
1. Once all the parties have come to an agreement, the
file should then be submitted to your Market Center’s
Compliance Coordinator.
a. In eEdge, you will do this by submitting the loop to
your Compliance Coordinator so that they have access
to all of the signed transaction documents.
Leverage eEdge
For assistance using
eEdge myTransactions,
consult the eEdge
101 Training Guide,
and view the lessons
on myTransactions.
Your MCA, eEdge
Ambassador, or Tech
Coordinator can also
help you.
b. You will also complete a Greensheet—an online tool
that documents the financial distribution for all
transactions.
2. The Compliance Coordinator will review the file and
Greensheet for compliance approval.
3. Once the Team Leader has approved, the MCA will create
the Disbursement Authorization (DA). The DA authorizes
the closing entity to disburse the broker’s funds at closing.
4. In eEdge, your Compliance Coordinator will upload the
DA form into the loop.
TIP
2. Grow your business with touch power
Talk to your MCA or
TL for assistance with
the Greensheet.
Touch campaigns are the single best-proven tool for enlarging
your real estate universe—and you’ve been learning about them
throughout Ignite.
Closing should be a signal to you to:
• Start your client on a 33 Touch program immediately.
• Add all participants to your database, including agents,
lenders, and closing officers—if they are not already.
17-22
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
3. Call your new past clients
Free Download
The buyers and sellers you just closed are now members of a
special club that you host. Get that new phase of your relationship
started with a personal call to them within 1–2 weeks after
closing, to see how they are doing in the next phase of their lives,
to thank them again for their business, and to ask for referrals.
This survey is included in
the toolkit on the Ignite
course page at kwu.
kw.com/ignite.
4. Send a customer satisfaction survey
Make it a habit to send a customer satisfaction survey as part of
your immediate postclose communications, such as the one shown
below:
To:
From:
We worked together on a project of utmost importance to you—your home. Please help me
serve you and your friends better by taking a few minutes to complete this survey. If you
wish to talk to me directly, don’t hesitate to call me at _____________________. For your
convenience, I am enclosing an addressed and stamped envelope.
Directions: Please rate your level of agreement
with these statements; 10 = Strongly agree, 1 =
Strongly Disagree.
1. I delivered on what I promised.
1
2
2. I was accessible when you to contact me.
1
2
3. I listened.
1
2
4. You are willing to recommend me to others.
1
2
5. You would use me again if you needed a real
1
2
estate agent.
6. If you were in charge of my business, what’s one things you’d


3
3
3
3
4
4
4
4
5
5
5
5
6
6
6
6
7
7
7
7
8
8
8
8
9
9
9
9
10
10
10
10
3
4
5
6
7
8
9
10
change?
7. What did I do well?
8. May I include your comments in my marketing materials?  Yes  No

Thank you!
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
17-23
Aim High
Customer Service Focus
TIP
Continue your
marketing even after
the home has sold.
For a listing, add a
“sold” rider to your
yard sign. For a buyer
sale, put a sign in
the yard that says,
“Another home sale
by ____” and your
phone number.
Some agents say using
these riders will stop
inquiries to your sign.
Perhaps, but they are
just as likely to trigger
calls from people who
think, “I want to work
with an agent who
makes sales happen.”
By following the processes and using the tools you received in
this session, you will naturally provide 10+ customer service
throughout the transaction. This will “wow” your customers and
impress upon them what uniquely great customer service you offer.
A benefit for you is that past clients who advocate for their friends
to use your services is cheap marketing! Gaining referrals from past
clients is one of the easiest ways to generate business. Follow the
steps below to ensure referrals from your clients:
1. Ask for feedback on your service from all parties involved
in the transaction, not just your client. Send a modified
version of the customer satisfaction survey on the previous
page to the co-op agent, their client, the closing/title/
escrow company officer, lender—anyone who played a role
in helping to close the transaction. Doing so will enhance
your professional image. You can use the positive feedback
testimonials for future marketing material too.
2. Send them a handwritten thank-you note as well as a gift.
They will remember you for referrals and future business.
Gift ideas include:
• Movie tickets
• Gift baskets
• Gift certificates
Leverage eEdge
• Something you know they will need in their new home
Make sure your
clients know that
documents are stored
for seven years in
the online loop in
eEdge myTransactions.
Clients can access
them any time with
the login information
received during their
transaction.
17-24
• If they are relocating, something related to the new city
they are moving to (a guide, tickets to a local attraction,
etc.)
3. Keep in touch! Maintain regular contact and use the scripts
practiced throughout Ignite to ask for referrals. Remember,
you need to stay at the top of their mind; even if they won’t
be conducting another real estate transaction in the near
future, chances are they know someone who is.
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
STOP
and DO
Tokens of Client Appreciation
In the space provided below, write as many thank-you gift ideas as you can.
Be creative—they do not have to cost very much at all.
Time: 5 minutes
_______________________________________________________
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_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
_______________________________________________________
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
17-25
Recap What You’ve Done
You’ve learned what you need to know to move successfully
through the contract-to-close process—and beyond.

Well
Done
17-26
Completed Lessons and Tasks

Studied an overview of the contractto-close process.

Reviewed checklists to help you move
through the process with excellent
attention to detail.

Reviewed a checklist for a range of
issues you need to be prepared to
problem solve in the contract-to-close
process.

Learned how to use buyer and seller
closing packets to keep your client
engaged in the contract-to-close
process with you.

Learned how to leverage a successful
closing for a client into long-term
business oppor tunities.
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
Get to Work
Your Action Plan
Time block and complete the following activities before the next
Power Session.
Done
My Action Plan
By
When
Make use of the checklists available in this
Power Session to guide me in contract-toclose work and problem-solving issues that
may arise.
Make use of the buyer and seller closing
packages to engage clients in their role in
the contract-to-close process.
Use touch campaigns, personal calls,
and customer satisfaction surveys to
build a postclose system for my business
that builds long-term relationships and
generates referrals.
Time block my calendar for action items
from the exercise on page 17-21 of this
Power Session “Are you prepared for
contract-to-close?”
Power Session 18 is an Accountability
session. Please bring:
•
Your database
•
Your phone
•
Your daily planner
•
Your Daily 10/4 tracking and results
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
17-27
Your Job Aids
All of the following job aids can be found in the toolkit on the
Ignite course page on kwu.kw.com/ignite.
• Basic Contract-to-Close Process
• Buyer Agent Checklist
• Listing Agent Checklist
• Closing Packet Contents
--
Introduction Letter for Buyers
--
Introduction Letter for Sellers
--
Ways to Communicate
• Customer Satisfaction Survey
Your Daily 10/4 Assignment
In your calendar, time block and then complete the following
activities before the next Power Session.
17-28
Four Habits
Daily Goal
Build and
Manage Your
Database
Add 10 people to your database.
Prospect
Connect with 10 people.
Follow Up
Write 10 notes.
Know Your
Market
Preview 10 homes this week.
Done
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
Aha’s
STOP
and DO
My Aha’s
1. Write down your three most powerful aha’s from this Power Session.
1.
2.
3.
2. Share one aha with the class.
Time: 5 minutes
Ignite Power Session 17: Contract-to-Close and Postclose Systems – v3.3 © 2011 Keller Williams Realty, Inc.
17-29
Ignite Correction and Suggestion Log
Instructor Name: ________________________________________________ Date: ________________
Market Center: _________________________________________________
Content Type
(instructor manual, student
manual, job aid)
Page
Type of Correction
(misspelling,
wrong reference to
Number
resource, etc.)
Power Session #: _______
Description of
Correction or Suggestion
Suggestions for this Power Session:
__________________________________________________________________________________________
Please send this completed form to KWU
email: [email protected], attn: KWU Ignite
fax: 512-328-1433
mail: 1221 South Mopac Expressway, Suite 400 Austin, TX 78746