Contracts/Sales Process flowchart

Contracts/Sales Process flowchart

This article is designed to assist you with the flow of the contracts process and how to use Aro best to support your administrational requirements.
Doing most actions detailed below from the listing screen will in most cases be quicker as the program can prefill data  

Contract signed

  1. Enter the Contract - The contract details need to be entered into Aro. Fill in as many details (including phone and email addresses for contacts) as you can as this could save you time at a later point. The settlement statement has some mandatory fields so ensure that you fill in the scheduled Unconditional and Settlement dates and also the Total Deposit Expected amount. Help file: Adding-a-contract-to-a-property-listing
  2. Enter the Commission - Add a commission summary for this sale. This helps you to track your income for the office and the agents share and also will assist in the process of generating an invoice for your commission once the contract becomes unconditional. Help files: Commission Help files
  3. Receipt the Deposit - Open an account for the buyers on the trust accounts tab on the listing and then Receive Funds for the deposit that is paid. Help File: Receipt-a-deposit-to-a-listing-sales-deposit 

Contract becomes Unconditional

  1. Update the Listing Status - Either use the Progress bar on the listing or edit the contract and save it as Unconditional. 
  2. Mark the Commission as Successful - Now that you are definitely getting paid commission on this sale you need to let the program know that the commission is successful. Use the tick button to mark the Commission as Successful and tick the box to allow the program to generate your invoice. Help file: Commission-summaries
   
  1. Generate & Send your Settlement Statement to Sellers or Sellers Representative - The settlement statement is for the purpose of informing the seller or their representative of what will occur on settlement and enclosing invoices. Most importantly, confirming if there will either be funds due to be dispersed to the seller or there will be a balance due on settlement to be paid. Help File: Settlement-statement

Settling the Sale

  1. Update the status of the listing to settled and then enter the Spend Funds transactions. Help File: How-to-settle-a-sale-and-move-money-held-in-trust-to-sellers-account

If you have some word documents/templates that you currently use for the contracts process, dont forget you can use our Templates module and send your communication from Aro. Help File: Add-a-template Aro has also added many templates that you can use free of charge. Help File: Aro-templates. 
The Documents module is designed to assist with keeping documents that to relate to a listing or a contract in one place. Help File: Documents-module
The Communication module will record all correspondence sent from Aro for your records. This includes trust receipts and settlement statements.