Once you’ve created a closing record, you can go back and edit any of its details. To open a closing record, go to the Listings & Closings main menu icon and click Closings Summary. From the list of closings, click on the closing name to open it in the Closing Details form.
The header above the form provides you with a synopsis of the closing, including the buyer, status, closing date, and who you represent.
Directly below the Header, the Closing Details form has 6 tabs that organize the various types of listing information: Property Address, Closing Info, Property Details, Closing Parties, Activities and Notes.
Each tab has different features and options making it easy for you to find information.Property Address Tab
This tab contains address details for the property. You can edit the details by clicking into any field, or clicking the Edit Property Address link at the bottom of the page. Click the Save Property Address button to save any changes. Click the Save Closing Information button to save your changes.
This tab is the administrative center of the closing record that displays the status, MLS number, source, sale price, commission, and milestone dates.
Keeping track of the closing’s status has a number of trickle-down effects within Top Producer CRM. For example, if the deal falls through, you can change the status to “Fell Thru.” This allows you to keep the history of the closing, but removes any reminders or activities from the calendar. Also, if you have a listing linked to the closing and you change the closing status to ‘”Fell Thru”, the listing’s status changes back to “Active.”
This tab gives you space to enter as much detail about the property as you can. Some of the details come directly from the listing record, which was generated from the MLS property listing (if you used Top Connector to import MLS data), but you can add more detailed information like room dimensions, community information, construction materials, or financial and legal information. If this is a closing record that wasn’t created from a listing record, no information would be pulled in for you.
Keep the property details up to date so that once the deal closes, the information is current when the property is transferred to the new owner. If the closing was created from a listing, any changes you make to the closing information also updates the listing record. Once you’ve updated the details, click the Save Property Details button to update both the closing and listing records.
A single closing can have multiple closing parties. Closing parties can include multiple buyers and sellers, listing and selling agents, and other common parties such as insurance representatives, property inspectors, etc. It’s important to note that the primary seller is the contact whose address matches that of the closing. Under no circumstances can you delete the primary seller. Click the Add Closing Party link to open the Add Closing Party segment below.
You can select a contact from one of 3 areas:
Common Closing Parties: These contacts are typically added to a closing record, such as mortgage brokers, property inspectors, or renovation specialists. You can add contacts to a common closing parties list so they’re easily available to all closings.
Click the Common Closing Parties option button. If you already have contacts in your common closing parties list, you can select them from the Contact drop-down list. Select a role for the closing party and click the Add Closing Party button to save your changes.
- Contacts List: Use the Contacts Look-up tool to drag and drop an existing contact into the Contact field and then select a role. Click the Add Closing Party button to save your changes.
Add a Contact for This Closing Only: Clicking this option button opens a form within the Add Closing Party segment.
Type in the contact information and choose a role. The contact is saved with the closing record, but won’t be available from your contacts database.
Note: If you have a team account, you’ll have an Add Closing Agents link that allows you to select other closing agents from a drop-down list.
This tab allows you to track any scheduled and unscheduled activities and detailed service reports for your clients for any actions you have taken on their behalf. The tab is divided into 3 subtabs:
Activities subtab: View your preplanned activities, such as closing plan activities, or schedule another activity by clicking the Add Activity button.
Tip: Adding a new activity from the Closing Details form automatically links it to each of the closing parties.
- Service Activities subtab: View or add service activities related to the closing.
- Service Reports subtab: Create a report to regularly gather all of the service activities that you perform for the closing for either publishing to the customer’s Web page or sending as a marketing link in an email message.
Click the New Note field to add any additional information related to the closing. The saved note includes the person who created the note and the time it was saved. You can print out the notes by clicking the Print Notes link. Click on a note to edit it.
Closing Details Form Links
There are two links that you’ll see at the bottom of some of the tabs:
- View Linked Listing: This link is available if you’ve created a closing from a listing. Click the link to open the listing details.
- Delete Closing: Clicking this link permanently deletes the closing from your database. It’s important to know that if you delete a closing, you’re only removing the closing-specific information, such as closing date, selling price, etc.; property record or photos, and buyer or seller contact records are kept in the system. Deleting a closing is not recommended as good business practice. A better idea is to change the status of the closing, which allows you to keep accurate records by retaining the closing history. An added benefit is if the deal resurfaces, you’ve already got a file on the buyer.