Congrats on getting under contract!
Watch this 5-minute video to see how to put a listing under contract - or keep reading for step-by-step instructions.
- If this is a dual sided transaction, there will be two differences (called out below). Keep reading or see: How to enter a Dual Sided Transaction.
- Once you complete these steps, you can go to Step 2: Calculate & Approve Commission.
Step 1: Click My Listings on the left side of reZEN. Then, click the deal you want to place under contract.
Step 2: Click Mark as In Contract.
Step 3: reZEN will walk you through some questions to convert the listing to a transaction. A lot of information will be copied over from the listing. Start by confirming the property address, MLS number, and year built.
Step 4: Enter the transaction type, price, commission splits, and acceptance and closing dates.
- Don't forget to update the sale price based on the final executed agreement. By default, reZEN copies over the list price.
- If this is a dual-sided transaction, don't forget to change the representation type.
Step 5: Enter the buyer information. The seller information will come over from the listing.
Step 6: Select the Listing Owner & Enter any co-agents to the transaction.
- If you are on a team or working as a transaction coordinator on behalf of an agent, select the agent who owns the transaction/client relationship.
- If you have co-agents (team members, referrals), search from the dropdown and add them to the deal.
Step 7: Enter the buy-side brokerage information. If the other side is represented by Real, click the Real Agent toggle, search for the agent in the dropdown, and click the agent's name. Then click Next. If the agent is external to Real, click External Agent, then Next.
- Note: if this is a dual transaction, you will skip this step.
Steps 8-9: If you have a Referral / OpCity Referral, enter it here.
Step 10: Allocate the total commission.
- If you are the only agent on the transaction, just enter 100%
- If there are other Real agents, allocate the commission according to your agreement.
- If you are a dual agent, split according to the list/buy-side commission breakdown
- 57% / 43% for a 4% listing, 3% buy transaction
- 50% / 50% for a 3% listing, 3% buy transaction
Step 11: If this is a personal deal, please select yes and enter information.
Step 12: If you have fees, rebates, or reimbursements to enter, add them here.
Step 13: Enter the information for Title / Escrow - or whoever will process the commission checks and click Next.
Step 14: Review all the information and click Create Transaction
- Remember to confirm the Sales Price - it should match the executed Purchase / Sale Agreement.
That's it! You're Done! Now that your listing was converted to a transaction, you can go to Step 2: Calculate & Approve Commission