Transaction Management for agents representing buyers

This is an issue that seems to appear in multiple feature requests over the years and should really be addressed sooner than later. 

All real estate transactions start with a client, either a buyer or a seller. In my opinion all files should be started as a client, either a Seller/Buyer or Landlord/Tenant not as a listing, address or as a transaction. Only after basic client information has been added should a listing or a buyer or a transaction be created. 

The ideal workflow in SkySlope should be: 

1) Enter New Client - at this stage basic client information needs to be entered. This should be the first step for everything. You have it right in the Forms App and this is the way is should be in SkySlope as well:

In DigiSign the New Envelope dropdown should read as follows:

• Choose Client
• Create New Client (linked to appropriate entry form)
• Choose Property
• No Client or Property   

2) Create New Seller or Create New Buyer (also consider adding Landlord/Tenant as options) - at this stage a new listing would be created with a Listing Documentation Checklist (I would rename it Seller Documentation) or a new Buyer would be created with a Buyer Documentation Checklist. Agency agreements are used both with buyers and sellers but the forms used in each case vary so the checklists for Sellers and Buyers should be named similarly. Having a checklist section for Agency Agreements would be fine but it is not as important as allowing agents the ability to add agency agreements and other forms into files before they go under contract.

I believe that the ideal would be to have the following checklist types: Buyer, Seller, and Transaction rather than the only two checklist types currently available that are Listing or Transaction. You might also want to consider adding checklists only to be used for landlords or tenants.

3) Create Transaction - once the Seller (Listing) goes under contract or the Buyer goes under contract then a transaction should be created by converting the Client (Buyer or Seller) with the appropriate Transaction Checklist applied. This is the point where all the necessary transaction items can be added to the files up until closing.

The impact these changes would have on the productivity of the agents and their managing brokers would be substantial. Right now I am struggling to figure out how to be able to timely review buyer side transactions along with all the associated paperwork involved before a buyer goes under contract. It is not unusual for buyers to submit multiple offers on different properties before they go under contract on a home they eventually purchase. If agents don't have a way to store and have their buyer files reviewed by their brokerage before actually going under contract there is a huge gap in the SkySlope system that creates unnecessary liability for Brokers, Agents, Company Owners etc. Most if all states that I know of require brokerages to keep accurate records of all their agents agency agreements, offers made on behalf of buyers, listing agreements, and the like that are created before a binding contract/transaction is created.

I am hopeful that you will be able to improve your systems to better accomodate the needs of your SkySlope clients and the various regulations that we are supposed to abide by.

Many thanks!

I agree, we really need to be able to add Buyers for transactions just like we do Listings now.  This way if a buyer writes on 1 or more properties all the documents would be in the same place, including dead offers.  

Therefore, allowing the ability to convert buyer transactions into accepted offer transactions like we do the listings now.  

Perhaps the Manage Listings Tab, could be changed to Manage Listings/ Buyers Tab...adding the sections in which we could name the file after the buyers, like we do now in Zipforms Plus, and later add the full address once it is converted to the Residential Sales status

Thanks guys!