Once you've written up and shared the property valuation with the owner, you'll want to record that the terms of business have been sent and signed by the owner (vendor).
The terms of business outlines the details of the agreement between you as the agent and the owner (vendor). It generally includes information about the initial asking price, contract type, agency fee and contract duration.
The simplest way of sending terms of business is by using our property workflow, which helps you manage properties through the lifecycle of a transaction.
We've partnered with E-Sign which will enable you to send your terms of business electronically and have it signed by all the property owners.
- Click Properties on the main navigation bar
-
Select the relevant property from Recent & Favourite Properties
- Alternatively, find the property using the Search Properties bar in the top right
-
Properties at any of the following status (Appraisal, Instructed, Available, Let (Marketing), Withdrawn, Suspended) will have a Prepare Property banner at the top of the page.
Click E-Sign below Terms of business to open up the property workflow and land on the Post-appraisal tab -
The second section is Terms - click Details to expand Terms of business
if it isn't already.
Using the Select Template(s) field, you can choose from all of the ad hoc document templates you already have set up. You can also click Change contact options to specify the Email address of the different Owner(s) to send the documents out to, to get signed - When you click Confirm alongside your template selection, the terms of business documents can be generated. (Owner details can't be changed once the documents have been generated so to make any changes, you'll need to remove the templates)
- Click Generate documents, and once generated, click Review to review the populated document before sending it out to be E-Signed. Make any amendments you need, and click Finalise, then Yes to confirm
-
Navigate back to the Terms section
on the Post-appraisal tab of the property workflow.
The status of the template will now be set as Ready to send. You can click Download alongside the document for a .pdf copy to view prior to sending it, otherwise, click Send to send the document out for signature(s) from the Owner(s)
An 'owner task' is automatically sent (via Keyflo) for Terms of business. This is the 1st 'owner task' we ask them to complete. As a prerequisite, Alto will send the owner (the primary contact) an email with a secure link to register for Keyflo, as well as including details about the task they have to complete.
Once the owner is registered/logged in, they'll be prompted about a Terms of business task they have - upon selecting Start, using E-Sign they can review the document(s) and choose to Agree and sign or Decline the terms. (If an owner does Decline, they can submit a reason as to why they have done so)
Once they have selected Agree, they can then click
Proceed, then Finish.
Back in Alto, the property record will be updated accordingly, and you'll be notified the task has been actioned within the Timeline.
Selecting the task from the Timeline opens up our property workflow on the Post-appraisal tab where you can see the time and date stamp for when this 'owner task' was Signed.
You can click View alongside the now signed document for a .pdf copy where you can view the Document Signers and the Document History.
Note
Once
the task is Complete, you can always click the
ellipsis (three dots) and Restart the
task if you need to do it again.
If you do and you choose different Owner(s), you'll retain an audit trail of the previous Owner(s)
Once the terms of business have been sent and signed by the owner, you'll now want to move on to instructing the property.
FAQs
- How does the contact (client) see the document in Keyflo after signing?
We are working to make documents accessible to contacts (clients) directly via their Keyflo login. For now, agents can view, download, and send the document manually.
- Can we send Terms of Business to all vendors simultaneously?
Yes. It is already possible to send documents simultaneously to multiple owners across different contacts. Support for multiple people on the same contact will be released soon.
- If sending to multiple owners, does one person have to sign first before it will send to the next
No - the Terms of business document can be signed in any order by your contacts (clients).
- When the contact (client) ‘agrees’ the terms and this auto completes, does it add in a signature, their name and date?
The E-Sign functionality provides a full audit trail of when and who completed the form. Currently a signature isn’t adding to the document, but this will be enabled shortly.
- Is Keyflo replacing E-Sign on Alto?
We are enhancing Alto’s E-Sign functionality to comply with AES standards. Keyflo is your customer’s signing portal with a new embedded, advanced E-Signing experience for them. More details will follow soon.
You do have the option of recording that the terms of business have been sent and signed by the owner (vendor) from the property record, should you not want to do so electronically via the property workflow E-Sign method above.
- Click Properties on the main navigation bar
-
Select the relevant property from
Recent & Favourite Properties
- Alternatively, find the property using the Search Properties bar in the top right
- Click Actions
-
In the dropdown menu, either:
-
Click Terms Sent to log
that
terms of business have been issued to the vendor,
or,
- Click Terms Signed to log that the signed terms of business have been returned from the vendor
-
Click Terms Sent to log
that
terms of business have been issued to the vendor,
or,
- Type any relevant Notes
- Click OK
The action(s) will be logged and appear in the property Timeline.
Once the terms of business have been sent and signed by the owner, you'll now want to move on to instructing the property.