1. Objective

This SOP defines how a Virtual Assistant (VA) creates and configures a transaction record in the agent's transaction management system (TMS) on Day 0 of every new transaction. The TMS is the single source of truth for every document, date, party, and compliance step of a transaction — every other SOP in the transaction series depends on it being set up correctly.

A TMS record that is missing a party, has wrong dates, or is missing the executed contract creates cascading errors. Deadlines miss. Reminders don't fire. Compliance submission gets flagged. The VA's role is to get the record complete and accurate on Day 0 so every downstream SOP runs from correct data.

Where this SOP starts: A transaction goes under contract — the executed contract is filed per listing side or received from the buyer-side equivalent.
Where this SOP ends: The transaction is fully configured in the TMS with all parties, dates, documents, and notifications set. The agent and VA both confirm the record is operational and downstream TC SOPs can begin.

Success looks like: Any party looking at the transaction record can see who's involved, every key date, every document to date, and what's coming up — without asking the VA or the agent. The record is complete before Transaction Coordination Kickoff begins.

2. Your Role & Boundaries

2a. What you handle independently

• Creating the new transaction record in the TMS
• Populating every required field from the executed contract
• Entering all parties (buyers, sellers, co-op agent, lender, title/escrow, TC, inspector when known)
• Uploading the executed contract and any already-signed addenda
• Entering all key dates from the contract into the TMS deadline tracker
• Configuring in-system notifications for deadlines
• Setting up the document-upload structure per Section 5
• Verifying the TMS record against the executed contract before handing off to Transaction Coordination Master

2b. What requires agent approval before acting

• Any transaction detail that doesn't match the executed contract (typos, discrepancies) — flag before entering anything that conflicts
• Adding parties beyond what's in the contract (e.g., a spouse who is on title but not on the purchase agreement — agent confirms)
• Changing notification defaults on the agent's account
• Granting other users (co-op TC, broker assistant) access to the record
• Submitting the transaction to brokerage compliance before the agent has reviewed the file

2c. What you never do

• You never negotiate on the agent's behalf under any circumstances.
• You never provide pricing, legal, or strategic opinions to any party.
• You never sign or initial any document on behalf of the agent, client, or any party.
• You never communicate directly with the other party's client.
• You never modify the executed contract or any uploaded document — the record holds exact copies of what was signed
• You never extract contract data into the TMS and then change the contract to match the TMS; the contract is the source of truth, the TMS reflects the contract
• You never share TMS login credentials outside the agent's designated secure storage
• You never delete a document from the TMS unless the agent has explicitly approved the deletion and there is a documented reason

When in doubt: The contract always wins. If the TMS field doesn't match the contract, the TMS is wrong.

3. Schedule & Trigger

Trigger: A transaction goes under contract. For listings, this is the fully executed contract between buyer and seller. For the buyer side, this is the same moment — the contract is executed and the buyer is represented by this agent.

Expected turnaround: TMS setup complete within 4 business hours of receiving the executed contract. If the contract arrives outside business hours, set up first thing the following morning. Earlier-executed contracts (before the agent's standard business hours) with a tight first deadline (e.g., inspection period starts immediately) may need same-night setup — confirm with agent's availability policy during onboarding.

Sequence context: This SOP runs immediately after the executed contract is received, typically in parallel with the opening steps of Transaction Coordination Kickoff. The TMS record created here is the backbone for every subsequent TC SOP (TC-02 through TC-14), Commission Invoice & Tracking, and any compliance submissions. Platform standards for the TMS itself should have been established in Transaction Management System Setup during onboarding.

4. Platform

Confirm the TMS platform during onboarding. Common options:

The specific clicks differ per platform, but the underlying workflow is similar: create record → enter parties → enter dates → upload documents → configure notifications. The standards below apply regardless of platform.

5. New Transaction Setup Steps

Execute the following in sequence. Do not skip steps or reorder — each step depends on the prior.

5a. Create the new transaction record

• Log in to the TMS
• Create a new transaction / file / loop (the name varies by platform)
• Select the transaction type: Listing (listing side) or Purchase (buyer side) or platform-equivalent

5b. Set the transaction title

Use this title format, matching the file naming convention used elsewhere:

[Property Address] — [Seller or Buyer client last name] — [Listing/Purchase]

Example:

123 Main St — Johnson — Listing
456 Oak Ave — Chen — Purchase

Use hyphens between segments, no slashes. Address in the format that matches public records.

5c. Enter all parties

Enter every party involved in the transaction with their full information:

If any field is unknown at setup, mark as [To be confirmed] in the notes and flag to the agent.

5d. Enter all key dates from the contract

Pull every deadline from the executed contract and enter into the TMS deadline tracker:

Most TMS platforms will auto-calculate relative deadlines if you enter the effective date and contract type. Spot-check every auto-calculated date against the contract — platform defaults don't always match every state or board's day-counting rules.

TRID note: For buyer-side transactions, the Closing Disclosure must reach the buyer at least three business days before closing. "Business days" excludes weekends AND federal holidays. This waiting period cannot be waived. Add a "CD delivery deadline" three business days before closing to the deadline tracker.

5e. Upload the executed contract

• Upload the fully executed contract PDF to the TMS
• Name it: [Address] - Executed Contract - [Execution date].pdf
• File in the TMS's designated contract folder (varies by platform)

5f. Upload any already-signed addenda

If the contract included addenda that were signed (FHA addendum, VA addendum, state-specific addenda), upload each individually:
- Name: [Address] - [Addendum name] - [Execution date].pdf
- File with the contract

5g. Verify the record end-to-end

Before closing the setup session:
- Walk through every field and confirm it matches the executed contract
- Cross-check every date against the contract
- Cross-check every name spelling, email, and phone number
- Confirm every deadline is in the tracker
- Confirm the contract PDF is accessible from the record

6. Document Upload Standards

Documents accumulate in the TMS throughout the transaction. Follow these standards to keep the file auditable and easy to search.

File naming within the TMS

[Address] - [Document name] - [Date]

Examples:

123 Main St - Executed Contract - 2026-04-20
123 Main St - Seller Disclosure - 2026-04-22
123 Main St - Inspection Report - 2026-04-28
123 Main St - Repair Request - 2026-04-30
123 Main St - Appraisal - 2026-05-05
123 Main St - Preliminary Title - 2026-04-25
123 Main St - Final CD - 2026-05-15
123 Main St - Final HUD - 2026-05-20

Use the date the document was signed, dated, or received — not today's date.

Required documents at each transaction stage

Versioning

When a document is revised (e.g., a counter offer, an amended purchase agreement), upload the revision as a new file with the revision date — do not overwrite the prior version. Keep an auditable history.

7. Compliance Submission

Many brokerages require the transaction file to be submitted to brokerage compliance within a specified window. Confirm with the agent during onboarding:

• Is compliance submission required?
• What is the deadline? (typically 1–7 business days from execution)
• Which documents are required at submission vs. which can be added later?
• What is the submission method? (platform workflow, portal upload, email to compliance, etc.)

If the TMS has a built-in compliance workflow

• Configure the transaction to use the brokerage's compliance template
• Submit per the brokerage's deadline with the required documents attached
• Monitor for compliance reviewer comments and respond promptly

If compliance is handled outside the TMS

• Export the required documents from the TMS
• Submit via the agent's documented compliance process (see Listing Agreement Review & Filing §6 for the listing-agreement compliance submission pattern)
• Log the submission date and method in the TMS notes

NEVER: Submit to compliance before the agent has reviewed the completed TMS file. A compliance submission with wrong dates, missing documents, or incorrect party information gets flagged — and every flag is a cumulative signal to the brokerage about the agent's file quality.

8. System Notifications

Configure in-system notifications on the new transaction so deadlines don't slip.

Standard notification setup

Client-facing notifications should be configured only with the agent's explicit approval — some agents want the TMS to auto-notify clients; others prefer to control all client-facing communication through personal channels.

Notification discipline

• Do not configure notifications that duplicate what the agent already tracks in their calendar (Calendar & Scheduling Management). If a deadline is on the agent's calendar, one TMS notification is enough — usually 1 day before.
• Do not configure notifications for the other side's obligations (buyer's lender, seller's inspection). Track those through the appropriate TC SOP, not TMS notifications.

9. Closing Out the Transaction

When a transaction closes (funds recorded, possession transferred):

9a. Final document upload

Upload all closing documents:
- Final Closing Disclosure (buyer-side)
- Final ALTA Settlement Statement
- Signed closing package
- Recorded deed (when available from title, often 1–14 days post-close)
- Commission disbursement confirmation

9b. Update transaction status

• Mark the transaction Closed in the TMS
• Enter actual close date if different from scheduled
• Enter actual sale price if different from contract
• Enter actual commission amount if different from expected

9c. Confirm compliance sign-off

• If the brokerage compliance process requires a post-close final review, confirm the file has been accepted
• Resolve any compliance flags before archiving

9d. Archive

• Follow the platform's archive workflow (varies — some platforms archive in place, others move closed transactions to a separate section)
• Confirm all documents are retained per the brokerage's retention policy (typically 3–7 years)

9e. Handoff to post-close SOPs

• Trigger Commission Invoice & Tracking commission receipt confirmation workflow
• Trigger Review Request & Reputation Management review request workflow (14–21 days post-close)
• Trigger post-close client follow-up per New Client Onboarding (Buyer or Seller) §9 drip (30-day, 90-day, annual)

10. Escalation — When to Escalate Immediately

TMS setup rarely requires escalation. Escalate immediately if:

• Contract discrepancy discovered during setup — the contract as executed doesn't match what the agent told you to expect (e.g., price, closing date, commission terms differ)
• Missing required party — a party required by the contract isn't identified (e.g., contract references a co-borrower who isn't on any document you have)
• Platform access lost — you cannot log in or the platform is down during the setup window
• Critical deadline is already past — you're setting up a transaction whose first contingency deadline has already passed (indicates the transaction was executed earlier than you knew)
• Contract is incomplete — signatures missing, dates blank, terms ambiguous

Use this escalation template:

Hi [Agent Name] — TMS setup issue for [Property Address]:

Issue: [One sentence — e.g., "Executed contract shows closing date of 5/15, but the earlier conversation referenced 5/22. Which is correct?"]
Status: [What you've done — e.g., "Have not entered any date fields yet pending your clarification."]
What I need from you: [Specific direction]

[VA Name]

If agent is unreachable within 2 business hours on an urgent issue (e.g., inspection deadline is tomorrow):
1. Enter what the contract says, not what you think was intended
2. Log the discrepancy clearly in the TMS notes
3. Flag any impending deadlines to the agent via multiple channels

11. Completion Checklist

Record creation
- ☐ New transaction created in TMS
- ☐ Transaction title set per convention
- ☐ Transaction type (Listing / Purchase) correct

Parties
- ☐ All sellers entered with contact info
- ☐ All buyers entered with contact info
- ☐ Listing agent and brokerage entered
- ☐ Co-op agent and brokerage entered
- ☐ Lender entered (if buyer-side)
- ☐ Title / escrow entered
- ☐ TC entered (if separate)
- ☐ Attorney entered (if attorney state)

Dates
- ☐ Effective / execution date entered
- ☐ Every contingency deadline entered
- ☐ Earnest money deadline entered
- ☐ CD delivery deadline entered (buyer-side)
- ☐ Closing date entered
- ☐ Possession date entered
- ☐ Every auto-calculated date spot-checked against contract

Documents
- ☐ Executed contract uploaded with correct naming
- ☐ All signed addenda uploaded

Compliance
- ☐ Compliance submission requirements confirmed with agent
- ☐ Submission scheduled or completed per brokerage deadline

Notifications
- ☐ Deadline notifications configured
- ☐ Notification recipients confirmed (agent, VA, optionally client)

Verification
- ☐ Full record reviewed end-to-end against contract
- ☐ No discrepancies, or all discrepancies flagged to agent

Handoff
- ☐ Agent notified TMS is set up
- ☐ Transaction Coordination Master Transaction Coordination Kickoff ready to begin

12. Tools & Access