OnBoard Day 15 - Adding a Transaction

Once you have a buyer for a property you can start a transaction in one of two ways:

The quickest and easiest method if you already have the listing in your property database then go to that address and change the status from "Active" to "Pending".  This will cause a message to display, asking:  Would you like to add a transaction for this property? answer Yes to have information from the property copied to a new Transaction.  This includes the the Photos, Address, contacts in the People tab and it creates the link back to the source property.

The second method of adding a transaction to Realvolve if you don't have an existing property is to use the Add New button in the list view like you did for Contacts and Properties.  Click on the ( + ) sign in the list view, then choose Transaction. This opens a new data entry screen to add your transaction information. Start by entering the property address, MLS number, the sale price and close date, if known at the top of the screen.  Continue entering the Details section of the Transaction tab.  The Signs at Close field allows you to list all known parties that need to sign the contract, enter any terms and the closing type.  The Transaction Type of "Selling Only" when you represent just the seller, "Buying Only" when you only represent the buyer, or "Selling & Buying" when you represent both the seller and the buyer are used when calculating information in the Commissions Tab.  Make sure you select the proper transaction type so that your commission information is accurate.

The Important Dates area allows you to enter all the key dates for this transaction.  These dates are used in workflows for reminders and processing of activities through the closing process.  Obviously, not all dates are known at once, but enter the dates and times as they become known to allow workflow activities which use those dates will be calculated automatically.  We will discuss workflows soon so just keep in mind that the dates will come from this area for now.  The list of important dates can be customized based in the settings area. (SEE VIDEO)

The Property tab shows the corresponding property connected to this transaction.  If you opted to add the transaction manually then this tab will be blank.  

The People tab is identical to the people tab in properties however there are more party member types in the transaction area.  The same functionality for adding contacts is available as well as the ability to customize the party member types that are displayed. (SEE VIDEO)

The Files, Calendar and Activities tabs are the same as those found in the Contact and Properties section which I covered on Days 10, 11 and 12.

Tomorrow I will cover the Commissions tab in detail so hang tight on it...

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Comments

  • Avatar
    Dora Peacock

    Only buy/sell transactions are supported. Functionality for rental transactions would be great!

  • Avatar
    TC HPG

    Why aren't the dates from the master list to choose from alphabetical?

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    BRETT BAYLESS

    I agree with Dora - Functionality for Rentals needs to be added.

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