MRED connectmls -6 Transaction Manager

Size: px

Start display at page:

Download "MRED connectmls -6 Transaction Manager"

Reynard Bailey
5 years ago
Views:

Training for Real Estate Professionals from Midwest Real Estate Data LLC MRED connectmls -6 Transaction Manager MRED Quick Reference Guide MRED Main Number.

1 Training for Real Estate Professionals from Midwest Real Estate Data LLC MRED connectmls -6 Transaction Manager MRED Quick Reference Guide MRED Main Number MRED Training Registration MRED Helpdesk Helpdesk Hours: M-F 8:00 am to 6:00 pm, Sat 10:00 am to 4:00 pm Visit us at Mredllc.com for Training Registration, Forms and more

2 Table of Contents CONNECTMLS TRANSACTION MANAGER... 1 PREVIEW QUIZ... 2 THE LISTING AGENT... 3 THE TRANSACTION MANAGER SCREEN... 5 TRANSACTION MILESTONES... 5 TRANSACTION MANAGER TABS... 6 ADDING YOUR CLIENT AS A PARTICIPANT... 9 SERVICE PARTNERS ADDING A VALUED SERVICE PARTNER (VSP) ADDING A REAL ESTATE SERVICE PARTNER (SP) PREFERRED SERVICE PARTNERS SERVICE PARTNER REFERRALS PUTTING THE PIECES TOGETHER: LISTING SIDE ADDING A DOCUMENT YOUR ACTIVE LISTING HAS JUST COME UNDER CONTRACT. WHAT HAPPENS NEXT?.. 21 SENDING A MESSAGE DOCUMENTS HISTORY TAB TRANSACTION MILESTONES PUTTING THE PIECES TOGETHER: BUYING SIDE PUTTING THE PIECES TOGETHER: CLIENT S SIDE PUTTING THE PIECES TOGETHER: SERVICE PARTNER S SIDE REVIEW QUIZ APPENDIX A: HOW TO REGISTER FOR CLASSES ON ERROR! BOOKMARK NOT DEFINED. Training Guides and Materials... Error! Bookmark not defined. Assistance with registration... Error! Bookmark not defined. connectmls Transaction Manager C7 Page i

3 connectmls Transaction Manager The connectmls Transaction Manager provides a tool for automating many of the routine tasks associated with managing and closing a listing. Notifications of events take only a moment, rather than dozens of phone calls. Scanning and uploading documents on-line for participants replaces standing at the fax machine. Within the Transaction Manager, a record is kept of all activity on the transaction, as well as who did the activity. No more carrying around big title company folders to keep track of your closings connectmls will allow you to monitor the progress and make updates from any location with an internet connection! The parties to a transaction include the listing agent, selling agent, their clients, the service partners (the attorneys, mortgage professionals, inspectors, and any others involved in the listing, sale and closing of a property). We ll look at how the connectmls Transaction Manager can bring these parties together for more effective communication and automatic record keeping. connectmls is subject to change due to upgrades and enhancements. Agents are strongly encouraged to watch the Bulletins area of the agent homepage for information regarding changes to the system. This is an advanced class and assumes the student has taken, at a minimum, C1-Using connectmls and C3-connectMLS General MLS Searching and is completely comfortable operating in an Internet environment. Having been through at least one real estate closing is a plus. connectmls Transaction Manager C7 Page 1

4 Preview Quiz What makes a listing Pending? How many places can you add a client? What property type describes a two-story house? What property type describes a condominium? Where does an agent get notified of changes in his or her listing? Can you send s without sending a property in connectmls? connectmls Transaction Manager C7 Page 2

The Listing Agent When the listing agent enters the property into connectmls and is assigned a listing number, the property is automatically added to the agent s My Listings/Transactions page.

5 The Listing Agent When the listing agent enters the property into connectmls and is assigned a listing number, the property is automatically added to the agent s My Listings/Transactions page. Access this page through the link on the left side of the agent dashboard, the first icon in the orange/gold section of the navigation bar or from the Listings tab (choose the My Listings & Transactions link from the Listings menu). connectmls Agent Dashboard As changes or updates occur with the listing, whether system generated (e.g., going from NEW to ACTV) or agent generated (e.g., a price change or other change made to the listing), the listing agent is notified on the home page. Listing/Transaction Updates connectmls Transaction Manager C7 Page 3

6 Notifications are removed from the home page when the agent views the notification or update. Click the address of the property to go to the Transaction Manager screen for the property; click the number indicated to go directly to the notification in the Transaction Manager. All listings for which you are either the listing agent or have been entered in the system as the selling agent will appear in your My Listings/Transactions list. Click the Edit pencil to update the listing (when you are the listing agent). Check the checkbox for a particular listing to run Reverse Prospecting on that listing. Exercise: Go to the My Listings/Transactions list. Identify the active listings. connectmls Transaction Manager C7 Page 4

Across the top of the screen are links: My Transactions (returns to the list of properties on the My Listings/Transactions screen); Edit Property/Listing Info (goes to the Listings tab to update the

7 The Transaction Manager Screen The Transaction Manager dashboard is divided into two parts. The left column, Transaction Milestones, records the ordering and/or completion of various aspects of the transaction. The right side is a series of tabs covering the details of the transaction. Across the top of the screen are links: My Transactions (returns to the list of properties on the My Listings/Transactions screen); Edit Property/Listing Info (goes to the Listings tab to update the listing); Edit Transaction Status (opens the Milestones for update) and Create a flyer (create a flyer on that listing). Transaction Milestones Many of the steps of a transaction are repeated with each transaction. Those steps are detailed in the list of milestones. Transaction Milestones Because the listing agreement and disclosures are required by law to be completed prior to adding the property to the MLS, those milestones will indicate Completed automatically. Other fields can be edited, using the Edit Transaction Status icon at the top of the column. connectmls Transaction Manager C7 Page 5

Property Tab The Participants tab holds the name and contact information of the listing agent.

8 Transaction Manager Tabs Each of the Transaction Manager tabs offers specific information or opportunities. The Property tab identifies the property by basic information. Use the link of the MLS number to open a detailed report of the property. Property Tab The Participants tab holds the name and contact information of the listing agent. The listing agent can add other participants, such as the seller, seller s attorney, etc. Once the property comes under contract and the selling agent s ID is added, that agent s information will automatically be added under the Participants tab. Participants Tab connectmls Transaction Manager C7 Page 6

The Messages tab simplifies sending and receiving of messages within the transaction. Sent messages are kept for reference. Use the drop down arrow to change from Inbox to Sent Messages.

9 The Messages tab simplifies sending and receiving of messages within the transaction. Sent messages are kept for reference. Use the drop down arrow to change from Inbox to Sent Messages. Click the New Message icon to open the composer. The list of participants will be available to allow selection of desired recipients of the message. Messages Tab Under the Documents tab, the listing agent can upload completed documents relating to the property. Using the Privacy radio button, indicate whether the document is restricted (available only to certain participants in the transaction) or unrestricted (available to all participants in the transaction). Documents Tab The Services tab provides a way to easily order services on-line. At the same time, a record of the order is added to both the milestones and the activity tab. Click the link of the desired service, choose the appropriate service partner and complete the order form. Click Submit to complete the order. Services Tab connectmls Transaction Manager C7 Page 7

On the Activity tab, there is a table showing how many times the listing has been emailed out through

Allow seller to view email activity Activity Tab On the History Tab, an ongoing record is maintained of

10 On the Activity tab, there is a table showing how many times the listing has been ed out through connectmls by any agent, and how many clients responded with interest in the property. Allow seller to view activity Activity Tab On the History Tab, an ongoing record is maintained of any transactions through connectmls to the listing and who updated it. History Tab connectmls Transaction Manager C7 Page 8

Adding Your Client as a Participant The listing agent can add the seller client as a participant to the connectmls Transaction Manager in one of two ways: choose an existing client from the contact

11 Adding Your Client as a Participant The listing agent can add the seller client as a participant to the connectmls Transaction Manager in one of two ways: choose an existing client from the contact list, or add the seller directly through the Transaction Manager screen. On the Participants tab, click Add Participant. From the list of potential participants, choose Seller. Note: Working with clients in other ways is covered in C3-connectMLS General MLS Searching and C4-connectMLS Prospecting. connectmls Transaction Manager C7 Page 9

If the seller is already in the My Clients contact list, click the drop down arrow and select the seller.

Adding the Seller Adding a new client Click Add to complete the process of adding the client as seller on this property.

Use the lock to prevent or allow members of the buying side of the transaction to view the seller s contact information.

12 If the seller is already in the My Clients contact list, click the drop down arrow and select the seller. Otherwise, click the Create a new client radio button and type in the appropriate information about the seller. Adding the Seller Adding a new client Click Add to complete the process of adding the client as seller on this property. The seller s information will appear on the Participants tab, accompanied by a lock icon. Use the lock to prevent or allow members of the buying side of the transaction to view the seller s contact information. Hover on the icon and a banner will open to identify which action clicking the icon will do. The X to the right of each participant entry (except Listing Agent) is used to remove a participant from a transaction. Exercise: Add yourself as a new client and seller for one of the active listings. Make sure your information is locked! Lock or unlock information connectmls Transaction Manager C7 Page 10

Service Partners In connectmls, agents can maintain an electronic directory of vendors and refer those vendors to the client on the client s webpage.

13 Service Partners In connectmls, agents can maintain an electronic directory of vendors and refer those vendors to the client on the client s webpage. Service Partners are those individuals who are involved in real estate, but are not REALTORS. There are two categories of service partners: Valued Service Partners (VSPs) and Real Estate Service Partners (RESPs). Valued service partners are those vendors who have entered into a relationship with the connectmls parent company. Agents can add VSPs to their electronic directory by simply choosing them from a list. A VSP will have additional privileges within a transaction, such as customized order forms on the Services tab, uploading certain documents and the ability to add their own subordinates to the transaction. For example, a VSP loan office can add their loan processor to the transaction without having to ask the listing agent to do so. Real estate service partners are all other vendors. Agents add RESPs by manually entering the appropriate information. Service partners can be added without a transaction (for instance, the vendors the agent frequently suggests to clients) or within the Transaction Manager. The agent s service partner list is available by clicking the My Service Partners link on the Agent Dashboard or by clicking the My Service Partners icon at the top right of any screen. Service Partner Screen connectmls Transaction Manager C7 Page 11

Use the Category dropdown list to limit your screen display to only vendors within a particular business. Service Partner Categories Find by Last Name allows for searching by the vendor s last name.

14 Use the Category dropdown list to limit your screen display to only vendors within a particular business. Service Partner Categories Find by Last Name allows for searching by the vendor s last name. The Add New link allows for adding a new service partner. The Delete link deletes the selected service partner(s). The Import icon brings service partner information in from some other source. All shows the list of all service partners. Click a letter tab to limit the list to only those vendors whose last name begins with that letter. Use the heading of any column to sort the list of vendors by that field. Use the pencil icon in the Edit column to make changes to that vendor s record. connectmls Transaction Manager C7 Page 12

Valued service partner companies within that category will be listed.

15 Adding a Valued Service Partner (VSP) At the top of the service partner list, click Add New. Choose the appropriate business category for the vendor and click Next. Valued service partner companies within that category will be listed. Choose the appropriate company by clicking the checkbox and click Next. Add Service Partner Valued Service Partner Companies connectmls Transaction Manager C7 Page 13

A list of the people within the company who are Valued Service Partners will become available. Click the checkbox next to the name of the desired partner.

Choose Valued Service Partner Screen Click Finish. The Valued Service Partner will appear on your service partner list, identified with VSP in gold.

16 A list of the people within the company who are Valued Service Partners will become available. Click the checkbox next to the name of the desired partner. Use the Check here if you do not see your service partner in the list above checkbox to access a screen to add that person as a Real Estate Service Partner. Choose Valued Service Partner Screen Click Finish. The Valued Service Partner will appear on your service partner list, identified with VSP in gold. Adding a Real Estate Service Partner (SP) Click on Add New and choose the business category. Beneath the list of VSP companies, click the checkbox labeled Check here if you do not see your service partner s company name in the list above. Click Next. SP Entry Screen connectmls Transaction Manager C7 Page 14

17 Enter the information about your SP. Click Next. Click Finish. Your service partner is now added to your list, identified as an RESP in blue. Preferred Service Partners Any service partner can be designated as a Preferred Service Partner. Once a vendor is identified as a Preferred Service Partner, he/she will be referred automatically (via the client s webpage) to any new client subsequently added to the system. Star indicates Preferred Service Partner Service Partner List Exercise: Add a Valued Service Partner to your connectmls list in each of the following categories: attorney, flood certificate provider, home improvement and maintenance, inspector, loan officer and surveyor. Add a Real Estate Service Partner: home inspector Harry Highboots of Hide and Seek Inspections. His address is HH@handsinspec.com. The company address is 707 N. Airline Drive, Closecheck, IL, connectmls Transaction Manager C7 Page 15

18 Service Partner Referrals Click on the Edit link to change contact instructions for your Valued Service Partner referrals for automatic referrals. connectmls Transaction Manager C7 Page 16

Click on the Service Partners you wish to refer to your client and click on

19 From your View Client Client Information page, click on the Refer Service Partners link to refer Services Partners. Click on the Service Partners you wish to refer to your client and click on save. Your referred service partners are notified of your preference. connectmls Transaction Manager C7 Page 17

20 Putting the pieces together: Listing Side Adding a Document The completed seller disclosure on your active listing has been scanned. Add the document to the listing so that it will be available to agents viewing the listing in connectmls. Go to My Listings/Transactions. Click on the listing number of the appropriate listing. Click the Documents tab on the right side of the Transaction Manager. Documents tab before documents added Click the Add Document icon. The screen will refresh to display the fields necessary to load the document. Add Document Screen Use the Browse button to identify the location and name of the file to be loaded. connectmls Transaction Manager C7 Page 18

In that situation, the listing agent can type in a description.

21 Identify the kind of file to be loaded by clicking on the drop-down arrow in the Document Type field. The Description will be filled in automatically, unless the Document Type is identified as other. In that situation, the listing agent can type in a description. Note: When adding other documents, please do not add any documents that are branded with Agent and or Office information. In step 3 the viewing restrictions will change based on whether the document is public or private to transaction participants only. connectmls Transaction Manager C7 Page 19

22 When you load a transaction participant only document you will have the option to choose all transaction participants or certain transaction participants. If you choose certain transaction participants you are presented with a list of participants that can view the document. Make the selections by putting a check mark in the check boxes. Choosing participant role connectmls Transaction Manager C7 Page 20

23 Your active listing has just come under contract. What happens next? Once the listing has been marked CTG and the selling agent is added to the system that information will also be added under the listing agent s Transaction Manager. Other participants can be added as appropriate. Exercise: Add the seller s attorney (use the one you added to your contact list in the previous exercise). The buyers agent will be able to add information about the buyers and their support team: lender, attorney, inspector, etc. The information will be available to other invited participants in the transaction, so that all parties will know the names of the participants. Sending a Message The message tab provides a quick way to notify participants to the transaction about changes and updates. Message Tab Click the New Message link to open the composer. Message composer connectmls Transaction Manager C7 Page 21

A list of the parties added to the transaction will be available. Check the appropriate parties to be notified, type in the subject line and type the contents in the box.

24 A list of the parties added to the transaction will be available. Check the appropriate parties to be notified, type in the subject line and type the contents in the box. Click Send Message to send the to the selected parties. A record of the being sent will be kept on the Activities tab. A copy of the sent message will be available on the Message tab select Sent Items, rather than Inbox. Exercise: Send an to the seller of the property (yourself). Documents In addition to disclosure documents, any completed document related to the transaction can be uploaded by the listing and selling agents. Valued service partners are able to upload documents, as well. View uploaded documents by clicking on the name of the document on the tab. History Tab All activity on the listing will be tracked on the activity tab, along with the name of the participant who performed the action. This record is a paperless paper trail of the various changes and updates done on the transaction. The Print link in the upper right corner allows for a hard copy of the final log to be added to the file folder record in your office. connectmls Transaction Manager C7 Page 22

Transaction Milestones Many of the transaction milestones will be automatically updated when an activity is performed. Others can be updated manually.

25 Transaction Milestones Many of the transaction milestones will be automatically updated when an activity is performed. Others can be updated manually. Edit Transaction Status link Transaction Milestone List To update a milestone, click the Edit Transaction Status link at the upper right of the list. Each milestone will be listed along with a drop-down list of options applicable to that milestone, a field for comments and a check box to indicate urgency. connectmls Transaction Manager C7 Page 23

26 Milestones list Once the desired updates are completed, scroll down to the bottom of the screen to view the list of participants. Check the names of the participants to be notified of the update and click Save. A notification will be sent to each checked participant and the updates will be added to the History tab log. Using the connectmls Transaction Manager, the steps necessary to complete a transaction are streamlined, leaving you more time to work on getting the next transaction. connectmls Transaction Manager C7 Page 24

Putting the pieces together: Buying Side Once the property contract has been recorded in connectmls and the buyers agent identified, that agent can access the buyers side of the transaction under

27 Putting the pieces together: Buying Side Once the property contract has been recorded in connectmls and the buyers agent identified, that agent can access the buyers side of the transaction under their own agent ID. By adding the participants on the buying side, the agent facilitates communications between parties while protecting the privacy of his/her own client. Listing in Selling Agent s transaction list Click the listing number to access the transaction record. Add the buyer and support team. Lock the buyer s information! Participants tab for Selling Agent Exercise: Add yourself as the buyer on the listing. Add a home inspector and schedule the inspection on the milestones. connectmls Transaction Manager C7 Page 25

Putting the Pieces Together: Client s Side When a client is added to a transaction, an email will go out to advise them that the information will now appear on their webpage.

Link to transaction Client Webpage Client Transaction Page The client can view milestones, participants (but not locked information on the other principle in the transaction),

28 Putting the Pieces Together: Client s Side When a client is added to a transaction, an will go out to advise them that the information will now appear on their webpage. On clicking the link, the client must sign in and then will be able to view appropriate information regarding their transaction. Link to transaction Client Webpage Client Transaction Page The client can view milestones, participants (but not locked information on the other principle in the transaction), activity (with listing agent s permission) and services, but cannot add or order services from the transaction screen. They can send and receive messages to their own agent and post documents to the transaction. connectmls Transaction Manager C7 Page 26

Putting the pieces together: Service Partner s Side Once a service partner added to a transaction, he/she will receive an email notice of the invitation to participate.

All transactions they are part of will appear under that one ID and password, as long as each agent entered them with the same email address.

29 Putting the pieces together: Service Partner s Side Once a service partner added to a transaction, he/she will receive an notice of the invitation to participate. The service partner will be assigned an ID and password, based on address. All transactions they are part of will appear under that one ID and password, as long as each agent entered them with the same address. SP Home Page Once logged in, the service partner has access to information and abilities, depending on partnership level (Valued Service Partner or Real Estate Service Partner) and privacy levels set on documents. SP Transaction Screen connectmls Transaction Manager C7 Page 27

Information/Ability Real Estate Service Partner(SP) Valued Service Partner(VSP) Receive messages within connectmls Yes Yes Send messages within connectmls No Yes Edit Transaction Milestones No Yes

30 Information/Ability Real Estate Service Partner(SP) Valued Service Partner(VSP) Receive messages within connectmls Yes Yes Send messages within connectmls No Yes Edit Transaction Milestones No Yes View documents within connectmls (within Yes Yes privacy settings) Post documents within connectmls No Yes Add own service partners (co-workers) within No Yes connectmls Add company branding to online information No Yes Receive online service orders within connectmls Yes Yes Customize online order forms within connectmls No Yes Update milestones pertaining to own role in transaction Order subordinate services online within connectmls View list of agents who have referred the service partner with connectmls No No No Yes Yes Yes SP Participants Tab no Add Participant capability The Valued Service Partner s Transaction Management screen has an additional tab for Services. connectmls Transaction Manager C7 Page 28

31 Review Quiz What makes a listing Pending? How many places can you add a client? What property type describes a two-story house? What property type describes a condominium? Where does an agent get notified of changes in his or her listing? Can you send s without sending a property in connectmls? How do you protect your client s contact information from other participants in a transaction? Who controls the availability of a document to others in a transaction? What is the difference between a client and a service partner? Who has more capability in connectmls : a Real Estate Service Partner or a Valued Service Partner? What is the difference between a Preferred Service Partner and one who is not? connectmls Transaction Manager C7 Page 29

Appendix A: How to Register for Classes on www.mredllc.

com; use your agent ID and password to log in.

32 Appendix A: How to Register for Classes on Go to use your agent ID and password to log in. Once in the site, click on Training on the menu bar. connectmls Transaction Manager C7 Page 30

Click the drop-down arrow to search by class name Click the drop-down arrow to search by location Click the

33 The Find a Class screen offers several options for searching. Use one or more criteria to locate the desired class. Click the drop-down arrow to search by class name Click the drop-down arrow to search by location Click the drop down arrow to search by date Once the desired information is entered, click the Search button. You will be presented with a list of classes meeting your criteria. connectmls Transaction Manager C7 Page 31

Each class name is a link to the class roster. Click the desired link to check seat availability and to register. If one or more seats are available, a Click Here to Register link will be available.

34 Each class name is a link to the class roster. Click the desired link to check seat availability and to register. If one or more seats are available, a Click Here to Register link will be available. If no seats are available, a notation We're sorry but this class is FULL. There are ZERO seats available. will display. If you are already registered for the class, the message will read, You are currently registered for this class. Click here to drop. On the Training link use the My Class History link on the right side to review your class registrations or to drop a class. Training Guides and Materials MRED training guides and materials can be found on our website. Go to and log in with your user ID and password. From there, you can access training materials: Via the Documents menu, under the MRED Training folder. The documents are available as Adobe PDF files (requiring Adobe Acrobat Reader software), and may be viewed, printed, or downloaded. Assistance with Registration Call MRED for help with registration or determining which class is right for you at Click Here for the list and descriptions of Hands On computer classes and Click Here for a list of Online class descriptions as well as WebEx computer requirements. connectmls Transaction Manager C7 Page 32

Planet RE Agent Training. Berkshire Hathaway HomeServices Nevada Properties

Planet RE Agent Training. Berkshire Hathaway HomeServices Nevada Properties Planet RE Agent Training Berkshire Hathaway HomeServices Nevada Properties Planet RE Outline Getting Started Log on to www.planetre.com Enter User Name: Enter Password: (Be sure to Change your Password