Sales Operations &
Transaction Management

Every transaction shall be handled with the expectation that it may lead to future opportunities — repeat business, referrals, property management relationships, investment purchases, or future sales. The manner in which clients are treated is often remembered longer than the details of the transaction itself.

Clients should feel:

The interests of the client shall remain the primary consideration throughout the transaction. All recommendations, negotiations, and communications should be made with the objective of helping clients achieve their goals while protecting their interests.

Clients should never feel pressured into decisions that do not align with their objectives.

Professionalism is expected in every interaction — with clients, cooperating agents, brokers, escrow officers, lenders, inspectors, contractors, builders, vendors, and members of the public.

The reputation of Strata Real Estate & Leasing is built one interaction at a time.

Strata personnel are expected to take ownership of their responsibilities. When issues arise, the focus should be on identifying solutions rather than assigning blame.

Clients should have confidence that matters entrusted to Strata are being actively managed.

Communication is one of the most important components of the client experience. Clients should never feel uncertain about the status of their transaction. Whenever practical, communication should be proactive rather than reactive.

Communication should be clear, accurate, professional, and timely.

Timely responses demonstrate professionalism and respect. Whenever practical: calls should be returned promptly; emails should be acknowledged promptly; text messages should receive timely responses; and client concerns should be addressed without unnecessary delay. When a complete answer is not immediately available, acknowledgement of receipt should still be provided. Clients should never wonder whether their communication has been received.

Material transaction discussions should be documented whenever practical. Documentation protects the client, protects the brokerage, preserves transaction history, reduces misunderstandings, and supports compliance requirements.

Client information shall be treated as confidential except as required by law, authorized by the client, or necessary to complete the transaction. Confidential information includes financial information, negotiation strategies, personal information, motivation for buying or selling, investment objectives, and transaction details. Confidentiality remains important even after a transaction has closed.

Every client deserves the same high standard of service. The level of service provided should not vary based on property value, commission amount, transaction complexity, client background, or client experience level. Consistency builds trust and strengthens the reputation of the brokerage.

Real estate transactions often involve unexpected challenges — inspection issues, appraisal concerns, financing delays, title issues, contract disputes, and repair negotiations. The role of Strata is not merely to identify problems, but to assist clients in navigating solutions. Challenges should be approached calmly, professionally, and with a focus on resolution.

Strata views every transaction as the beginning of a relationship rather than the completion of a sale. A buyer today may become a future seller, an investor, a landlord, or a property management client. A seller today may become a buyer, an investor, or a referral source. For this reason, all decisions should be made with long-term relationship building in mind.

Professional conduct should reflect positively upon both the brokerage and the real estate profession.

The buyer relationship begins with a consultation designed to understand the client's goals and establish expectations. Topics may include:

The consultation provides an opportunity to explain the buying process and identify potential challenges before the property search begins. A well-conducted consultation establishes expectations and creates the foundation for a successful transaction.

The following topics should be addressed during the initial consultation whenever applicable:

Prior to actively searching for properties, buyer preferences should be identified and documented across three categories:

Understanding buyer priorities creates an efficient search process and reduces unnecessary property tours.

Whenever practical, buyers should obtain financing pre-approval before actively viewing properties. Benefits include establishing a realistic budget, strengthening offers in competitive situations, identifying financing concerns early in the process, and demonstrating seriousness to sellers. Cash buyers should provide proof of funds when appropriate.

Buyers should understand that qualification estimates may change during the transaction process and that final approval remains subject to lender requirements. Buyers should be advised not to make significant financial changes — job changes, large purchases, new credit accounts — during the transaction.

Agency relationships shall be explained in accordance with Nevada law and brokerage policy. Buyers should understand their representation relationship, the duties owed to them, confidentiality protections, any limitations on representation, and the possibility of conflicts of interest in certain transaction types. Required agency disclosures shall be completed and retained in the transaction file per Strata's file compliance standards.

Property searches should be tailored to the buyer's goals and preferences. Searches may include MLS listings, new construction opportunities, coming-soon properties, builder inventory, referral-sourced opportunities, and investment properties. The purpose of the search process is to identify properties that align with the buyer's objectives while respecting established financial parameters. Buyers should be updated with new matching listings promptly — the market moves quickly and delayed communication costs opportunities.

Property showings should be conducted professionally and efficiently. Before showings: confirm property availability; review showing instructions; verify access requirements; and confirm appointment times with the buyer.

During showings: encourage buyers to evaluate functionality and livability; discuss property features and relevant observations; identify potential concerns openly; and avoid making guarantees regarding condition, value, or future appreciation. Buyers should be encouraged to conduct their own due diligence regarding any property under consideration.

Relocation clients represent an important segment of Strata's business. For buyers relocating from outside Nevada, additional consultation topics may include Nevada property taxes, HOA considerations, local utility providers, community comparisons, school information resources, new construction opportunities, cost-of-living comparisons, and local market conditions.

Strata may provide general information and market guidance while encouraging clients to conduct independent due diligence regarding schools, taxes, government services, and community resources. Strata's dedicated Relocation Guide is available as a client resource.

When a buyer identifies a property of interest, Strata should assist in evaluating the opportunity. Factors may include current market activity, comparable sales, property condition, days on market, seller motivation indicators, financing considerations, and future resale potential. The brokerage may provide market information and professional observations, but final purchasing decisions remain the responsibility of the buyer.

Offers should be prepared carefully and accurately. Topics to discuss with buyers before submission:

All offer terms should be reviewed with the buyer before submission. The buyer should understand both the benefits and risks associated with proposed terms. Broker review of offers is required before submission per Strata's file compliance standards.

The brokerage serves as the buyer's representative during negotiations. Negotiations may involve purchase price, closing costs, repairs, possession dates, contingency modifications, and personal property. The role of Strata is to communicate options, provide market-informed guidance, and present information that helps the buyer make informed decisions. Final decisions belong to the buyer — all direction from the buyer should be confirmed in writing before a counteroffer is submitted.

Upon acceptance of an offer, the following must be addressed immediately:

Transaction timelines must be monitored throughout escrow — missed deadlines can result in waived contingencies or default.

During escrow, Strata assists in managing the transaction process. Responsibilities include monitoring deadlines, coordinating communication between all parties, tracking contingency periods, facilitating inspection scheduling, coordinating with the lender on loan milestones, and monitoring appraisal progress. The objective is to keep the transaction moving efficiently toward closing and to surface problems early while solutions are still available.

Inspections are a critical component of buyer due diligence. Buyers should be encouraged to attend inspections in person when possible, review all reports carefully, consult appropriate specialists when necessary, and consider repair priorities strategically — not all inspection items carry equal weight in a negotiation.

Strata may assist in coordinating inspections and drafting repair requests, but should not provide professional opinions on property condition outside the scope of licensure. All repair requests should be submitted before the contractual inspection deadline.

For financed transactions, appraisal status should be actively monitored. If an appraisal concern arises, communicate promptly with the buyer, coordinate with the lender and transaction parties, review available options, and consult the Broker immediately. Potential solutions may include price renegotiation with the seller, additional down payment by the buyer, a formal appraisal review procedure, or contract termination where permitted under the contingency provisions.

Throughout escrow, financing progress should be monitored at key milestones: loan application confirmation; conditional approval; satisfaction of lender conditions; final loan approval; receipt of Closing Disclosure; and funding preparation. Buyers should be reminded to maintain communication with their lender and to avoid significant financial changes — new credit accounts, large purchases, or employment changes — that may impact final loan approval.

Prior to closing, buyers should conduct a final walkthrough to verify property condition matches the contract, agreed repairs have been completed satisfactorily, seller's personal belongings have been removed, and the property is in general move-in readiness. Any concerns should be communicated immediately to the Broker and escrow. The final walkthrough should be completed within 24 hours of the scheduled closing.

Prior to closing: confirm settlement figures and review the Closing Disclosure with the buyer; verify closing appointment date, time, and location; confirm funding requirements and wire transfer amounts. Buyers must be reminded to verify all wire instructions directly with escrow by phone — not by email — to reduce wire fraud risk. Buyer should bring government-issued photo ID to closing.

The relationship should continue beyond closing. Recommended follow-up sequence:

The objective is to build a long-term relationship rather than a one-time transaction. Every buyer is a potential future seller, investor, landlord, or referral source.

Every seller relationship should begin with a consultation designed to understand the seller's objectives and establish expectations. Topics may include:

The consultation provides an opportunity to identify potential challenges and develop an appropriate marketing strategy.

The following topics should be discussed during the initial consultation whenever applicable:

A thorough consultation helps establish realistic expectations and creates the foundation for a successful transaction.

Prior to recommending a listing price, the property should be evaluated comprehensively. Areas of evaluation may include location, neighborhood trends, property condition, lot characteristics, upgrades and improvements, functional layout, marketability, and competitive inventory. The objective is to understand how the property compares to competing homes in the marketplace.

A Comparative Market Analysis (CMA) should be prepared to assist the seller in evaluating market value. The CMA should consider recently sold properties, active listings, pending sales, comparable neighborhood activity, market trends, property condition, and competitive positioning. The CMA is intended to provide market information and pricing guidance. The final listing price remains the seller's decision.

Pricing is one of the most important decisions in the listing process. The brokerage should discuss current market conditions, competitive inventory, buyer demand, days on market trends, potential appraisal concerns, and pricing advantages and risks. Sellers should understand that overpricing may reduce showing activity and delay offers, while strategic pricing may improve market response. The objective is to position the property competitively within the marketplace.

Prior to marketing a property, all required listing documentation shall be completed. This may include: the listing agreement; agency disclosures; required Nevada disclosures; property information forms; marketing authorizations; and MLS documentation. All documents should be reviewed with the seller, signed by all parties with ownership interest, and retained in the transaction file. Broker review is required before the listing is activated.

Clear expectations should be established at the beginning of the relationship. Topics may include communication standards and update frequency, showing procedures and property access requirements, marketing timelines, offer presentation procedures, escrow expectations, and closing timelines. Establishing expectations early helps reduce misunderstandings later in the transaction.

Prior to launching the property to the marketplace, recommendations should be provided regarding presentation and market readiness. Topics may include cleaning, decluttering, minor repairs, landscaping, paint touch-ups, staging recommendations, and curb appeal improvements. The objective is to present the property in its most favorable condition. Professional photography should not be scheduled until the property is fully prepared — presentation at the time of photography directly affects buyer interest.

Every listing should have a marketing plan appropriate for the property and marketplace. Marketing efforts may include MLS exposure, professional photography, property brochures, website marketing, social media marketing, agent outreach, open houses, and buyer network exposure. The goal of marketing is to maximize visibility and attract qualified buyers. All advertising shall comply with fair housing requirements and include the Equal Housing Opportunity statement.

Prior to activating the listing, the following items should be completed whenever practical: required documentation; property information verification; professional photography; MLS preparation; marketing materials; showing instructions; and seller approval of all listing information. Once activated, listing information should be monitored for accuracy. Refer to the Listing Launch Checklist in Appendix C for the complete procedure.

Showings should be coordinated professionally and efficiently. The brokerage should follow seller instructions and established showing procedures, coordinate access, communicate showing activity promptly, and collect buyer feedback when available. Showing feedback should be shared with the seller whenever practical and included in the weekly seller update.

Communication is a critical component of seller representation. At minimum, sellers should receive updates regarding: listing activity; showing activity and buyer feedback; market conditions and competitive inventory changes; offer activity; and escrow milestones. Sellers should never feel uncertain regarding the status of their listing.

Whenever practical, active listings should receive regular status updates. Topics may include the number of showings received, buyer feedback received, online listing activity, market changes affecting the listing, competitive listings, and any recommended adjustments to pricing or strategy. Consistent communication helps maintain seller confidence throughout the listing period.

Upon receipt of an offer, the brokerage should assist the seller in evaluating available options. Factors may include purchase price, financing strength, earnest money, contingencies, closing timeline, repair requests, and buyer qualifications. All offers should be presented promptly — the same day if received during business hours — in accordance with applicable law and brokerage policy.

The brokerage serves as the seller's representative during negotiations. Negotiations may involve price, closing costs, repairs, possession, personal property, and contract contingencies. The brokerage should provide guidance and information while allowing the seller to make informed decisions. Seller direction should be confirmed in writing before any counteroffer is submitted. Final decisions remain the responsibility of the seller.

Upon acceptance of an offer: verify all required signatures have been obtained and upload the fully executed contract to the file; deliver copies to transaction participants as appropriate; and calendar all critical deadlines — earnest money, inspection periods, appraisal milestones, financing milestones, and closing date. Transaction deadlines should be monitored throughout escrow.

During escrow, Strata should assist in managing the transaction process. Responsibilities may include monitoring deadlines, coordinating communication, managing inspection timelines, coordinating repair negotiations, monitoring financing progress, coordinating with escrow on title requirements, and monitoring appraisal status. The objective is to facilitate a smooth transaction through closing.

Inspection findings frequently require seller decisions. The brokerage should review repair requests with the seller, discuss available options — full repair, credit, partial repair, or rejection — assist with negotiation strategies, and document responses appropriately. The seller should understand both the potential risks and benefits of each proposed response before making a decision.

If appraisal issues arise, the brokerage should communicate the result promptly, review available options with the seller, coordinate with transaction parties, and consult the Broker when necessary. Potential solutions may include renegotiation with the buyer, a formal appraisal review, buyer contribution adjustments, or contract termination where permitted.

Prior to closing: confirm closing timeline and verify escrow requirements; review settlement information and confirm net proceeds with the seller; confirm seller responsibilities including completion of any agreed repairs; and coordinate final property access arrangements for the final walkthrough and possession transfer. Preparation helps reduce closing delays and last-minute issues.

Upon closing: confirm recording; confirm transaction completion; coordinate possession when applicable; and confirm completion of the transaction file. Closing represents the successful completion of the transaction process.

The relationship should continue after closing. Recommended follow-up:

Upon execution of a purchase agreement, the transaction file should be reviewed immediately. The following items should be verified:

Any discrepancies or missing information should be addressed promptly before the transaction advances.

Upon contract acceptance, the following actions should be completed whenever practical:

This checklist establishes the foundation for an organized transaction.

Critical deadlines should be identified immediately upon contract acceptance and monitored continuously throughout escrow. Typical deadlines may include:

Failure to monitor deadlines may expose clients and the brokerage to unnecessary risk — including waived contingencies, default claims, or forfeited earnest money.

The earnest money process should be monitored to ensure compliance with contract requirements. Responsibilities may include: confirming delivery requirements and method; confirming receipt by escrow within the contract deadline; documenting confirmation within the transaction file; and following up on delays when necessary. Any concerns regarding earnest money delivery should be communicated immediately to the client and the Broker.

Throughout the transaction, Strata shall maintain communication with escrow and other transaction participants. Coordination may include: contract and addenda delivery; timeline management and deadline reminders; closing preparation; document requests and responses; and regular status updates. The objective is to maintain an organized transaction and prevent unnecessary delays through proactive communication.

Inspection periods should be monitored carefully. The buyer should be encouraged to complete all desired inspections within the contractual inspection period. Inspection-related responsibilities may include: coordinating property access with the appropriate party; monitoring inspection deadlines; facilitating communication between transaction parties; tracking repair requests and response deadlines; and ensuring any inspection addenda are executed and uploaded to the file. Inspection concerns should be addressed promptly — delays in the inspection period compress available negotiation time.

Repair negotiations frequently require prompt communication between buyers and sellers. When repair requests arise: review the request and supporting inspection documentation carefully; evaluate the scope, cost, and reasonableness of each item; discuss available options with the client — full repair, repair credit, partial repair, or rejection; document all responses appropriately; and monitor contractual response deadlines. The brokerage should assist clients in evaluating available options while allowing clients to make informed decisions. All client direction should be confirmed in writing before a response is submitted.

For financed transactions, appraisal progress should be monitored. Potential appraisal outcomes include: value at or above purchase price — transaction proceeds normally; value below purchase price — requires immediate client notification and strategy discussion; or appraisal conditions requiring clarification or additional documentation. If appraisal concerns arise, transaction participants should be notified promptly, available options should be reviewed, and the Broker should be consulted when significant appraisal issues arise.

Loan progress should be monitored throughout the transaction at key milestones: loan application confirmation; conditional approval; satisfaction of lender documentation requests; final loan approval; receipt of Closing Disclosure; and funding authorization. Clients should be reminded to communicate with their lender promptly when documentation is requested, and to avoid financial decisions — new credit accounts, large purchases, employment changes — that could impact loan approval during the escrow period.

Clients should receive regular updates throughout the transaction. At minimum, clients should receive communication at the following milestones:

Clients should never have to wonder what is happening during their transaction.

Unexpected issues may arise during the transaction — financing delays, inspection disputes, appraisal concerns, title issues, contract interpretation questions, or closing delays. When issues arise: communicate promptly with all affected parties; gather all relevant information before advising; evaluate available options objectively; consult the Broker when necessary; and document all material discussions in the transaction file. A proactive approach often reduces the impact of transaction challenges significantly.

The Broker should be notified immediately when significant issues arise that may impact the transaction, client interests, or brokerage risk. Examples include:

Prompt escalation allows the brokerage to evaluate risk and provide guidance before problems escalate into larger issues.

Prior to closing, buyers should be provided the opportunity to conduct a final walkthrough to verify: property condition matches the contract; agreed repairs have been completed satisfactorily; seller's personal belongings have been removed; and the property is in general readiness for transfer. The final walkthrough should be completed within 24 hours of the scheduled closing. Any concerns discovered during the walkthrough should be communicated immediately to all transaction parties and the Broker.

Prior to closing, confirm: closing appointment details — date, time, and location; settlement statement availability and review with the client; funding requirements and wire transfer amounts; escrow instructions and any outstanding documentation; and possession arrangements. Buyers must be reminded to verify all wire instructions directly with escrow by phone — not by email — immediately prior to transferring funds. The objective is to ensure a smooth and organized closing experience.

Upon closing: confirm recording with escrow or title; confirm funding and transfer of ownership; confirm possession arrangements and key delivery; and review the transaction file for completeness before final archiving. The transaction file should contain all required documents, disclosures, addenda, and correspondence retained per Strata's five-year record retention policy.

Clients should never have to contact Strata to ask whether something is happening on their transaction. Whenever practical, updates should be provided proactively at key milestones. Communication should be:

The quality of communication often becomes the client's lasting impression of the transaction experience.

All communications shall be conducted professionally and respectfully. Communication methods may include telephone, email, text message, video conference, and in-person meetings. The method selected should be appropriate for the nature and importance of the information being communicated. Material transaction discussions should be documented whenever practical. All communications should reflect positively upon the brokerage and the real estate profession.

Prompt communication demonstrates professionalism and respect. Whenever practical:

If a complete answer is not immediately available, acknowledgement should still be provided along with an estimated timeframe for follow-up. Clients should never feel ignored or uncertain whether their communication has been received.

Buyer clients should receive consistent communication throughout the transaction process:

The objective is to ensure buyers remain informed, confident, and prepared throughout the process.

Seller clients should receive consistent communication regarding both listing activity and transaction progress:

The objective is to ensure sellers understand market response and transaction progress at all times.

Whenever practical, active listings should receive a weekly status update. Topics may include: number of showings received; buyer feedback; online listing activity; market activity and competitive inventory; open house results if applicable; offer activity; and recommended adjustments when appropriate.

At minimum, clients should receive communication at each of the following transaction milestones:

Clients should understand both current status and upcoming milestones at every stage.

Material transaction discussions should be documented whenever practical. Examples include: price adjustments; negotiation instructions; contract modifications; repair decisions; contingency decisions; possession agreements; and material client directives. Documentation may occur through email correspondence, transaction notes, file documentation, or written confirmations.

Many communication issues result from unclear expectations rather than inadequate service. At the beginning of the relationship, clients should understand: how communication will occur and through which channels; typical response times; important transaction milestones and their sequence; responsibilities of each party throughout the process; and potential challenges that may arise. Clear expectations often reduce frustration and misunderstandings throughout the transaction.

Certain situations require sensitive and professional communication — low appraisals, inspection concerns, financing delays, contract disputes, closing delays, market feedback, price reductions, and multiple-offer disappointments. When communicating difficult information:

Clients should feel supported even when — especially when — challenges arise.

Transaction success often depends upon effective communication among all transaction participants. Coordination may occur with cooperating agents, brokers, escrow officers, lenders, inspectors, contractors, builders, and vendors. Professional communication should be maintained at all times. Prompt responses and organized communication help reduce delays and improve the client experience. How Strata communicates with other professionals reflects directly on the brokerage's reputation.

Strong communication often prevents problems before they occur.

Potential risks should be evaluated throughout every stage of the transaction. Examples include:

When concerns arise, they should be addressed promptly and documented appropriately.

Proper documentation is one of the most effective risk management tools available to the brokerage. Material discussions, decisions, instructions, and transaction events should be documented whenever practical — through emails, transaction notes, written instructions, contract amendments, escrow communications, and inspection communications.

Multiple-offer situations require careful communication and professional handling. Strata personnel should: present all offers promptly; follow seller instructions; maintain confidentiality when appropriate; avoid misrepresentation of any kind; document all seller decisions in writing; and communicate consistently with all parties. Special care should be taken to avoid statements that may create misunderstandings regarding competing offers — any characterization of other offers that is inaccurate creates significant liability.

Inspection concerns are among the most common sources of transaction conflict. When disputes arise: review inspection findings carefully; gather supporting documentation and vendor estimates; discuss available options with the client; maintain professional communication with all parties; and document all negotiations and responses. The brokerage should assist clients in understanding available options while avoiding construction, engineering, or legal opinions outside the scope of licensure.

Low appraisals may create significant challenges within a transaction. When an appraisal comes in below contract price: notify the client promptly; review the appraisal report when available; discuss available options with the client and Broker; and coordinate with transaction participants. Potential solutions may include renegotiation of purchase price, additional buyer contribution, a formal appraisal review procedure, or contract termination where permitted. Every low-appraisal situation should be evaluated individually — Broker consultation is required.

Financing delays or loan-related issues may jeopardize a transaction. Warning signs may include: delayed documentation submissions by the buyer; employment or income changes; credit concerns or new obligations; loan approval delays; and lender communication issues. Clients should be encouraged to communicate closely with their lender throughout the transaction and to avoid any significant financial changes. Financing concerns should be addressed immediately when identified — delays only compound the problem.

Failure to disclose material facts can create significant liability for the agent, the brokerage, and the seller. When disclosure concerns arise: gather all relevant information; encourage proper disclosure when appropriate; consult the Broker before advising the client; and document all communications regarding disclosure matters. Material facts should not be concealed, ignored, or misrepresented under any circumstances.

All transactions shall be conducted in accordance with applicable fair housing laws. Strata personnel shall not discriminate, encourage discrimination, facilitate discriminatory requests, or make decisions based upon protected characteristics. When fair housing concerns arise: stop and evaluate the situation; consult the Broker immediately — before any further action is taken; and document the circumstances appropriately. Fair housing compliance is a brokerage priority and is non-negotiable.

Agency relationships should be monitored carefully throughout the transaction. Potential concerns may include dual representation situations, Consent to Act requirements, conflicting client interests, and confidentiality concerns. Whenever agency issues arise, Broker consultation should occur before proceeding. Transactions involving multiple representation may require additional disclosures and documentation under Nevada law — these situations should never be navigated without Broker review.

Transactions involving multiple representation require additional disclosures and documentation. When a Consent to Act situation is identified: notify the Broker immediately; review all disclosure requirements with the Broker; obtain all required written consent documentation; and retain all documentation within the transaction file. Consent to Act situations must never proceed without Broker authorization.

Earnest money disputes require immediate Broker involvement. When disputes arise: do not provide legal advice to either party; maintain neutrality regarding disputed funds; document all communications carefully; coordinate with escrow to confirm the status of funds; and notify the Broker immediately. Earnest money disputes frequently involve legal considerations and can expose the brokerage to liability if handled incorrectly. The Broker manages all earnest money dispute communications once notified.

Wire fraud remains a significant and growing risk within real estate transactions. Clients should be reminded at every applicable stage:

Any suspected wire fraud must be reported to the Broker immediately. Wire fraud is unrecoverable in most circumstances — prevention is the only protection.

Client complaints should be addressed promptly and professionally. When a complaint is received: listen carefully without interruption; gather all relevant facts before responding; avoid defensive responses — focus on understanding the concern; document the complaint and all communications related to it; notify the Broker when appropriate; and work toward resolution whenever possible. Professional handling of complaints often prevents escalation into formal disputes or regulatory matters.

The Broker shall be notified immediately regarding any transaction involving the following:

Broker review should occur before action is taken whenever practical. When in doubt — escalate.

When a significant issue is identified, follow this sequence:

Prompt escalation often reduces risk significantly and improves outcomes for all parties involved.

Not every situation will fit neatly into a policy or procedure. When uncertainty exists: slow down; gather information before acting; review all documentation; consult the Broker; avoid assumptions; and document decisions appropriately. Good professional judgment is an important and irreplaceable component of risk management — policies provide a framework, but judgment navigates the space in between.

Proper buyer registration is critical. Failure to register properly may impact brokerage compensation. Whenever practical:

Brokerage compensation protection begins with proper registration. Buyers should be advised before visiting any new construction community — unaccompanied visits may result in loss of buyer representation and brokerage compensation.

Professional communication shall be maintained with builder representatives throughout the transaction. Communication may include: contract status and outstanding conditions; construction milestones and timeline updates; upgrade and option selections; financing updates and lender coordination; closing timelines; and orientation scheduling. Documentation of all material communications with the builder should be maintained within the transaction file.

Construction timelines vary significantly among builders and projects. Important milestones may include:

Clients should be kept informed regarding major milestones whenever practical. Construction timelines are subject to change — buyers should be advised to maintain flexibility in their housing transition planning.

Buyers should understand that upgrades, options, and change orders may impact the purchase price, financing requirements, closing timelines, and builder obligations. Strata may assist in facilitating communication while encouraging buyers to review all builder documentation carefully before signing. Change orders should be retained in the transaction file — they become part of the overall purchase and financing record.

Prior to closing on a new construction transaction: confirm construction completion and Certificate of Occupancy; confirm orientation and punch list completion; review final builder requirements and any outstanding conditions; confirm financing readiness and Closing Disclosure accuracy; and coordinate the closing timeline with the builder, lender, and escrow. The objective is to facilitate a smooth transition from construction completion to ownership. Refer to the New Home Developer Transaction File Checklist in Appendix C for the complete document requirements.

When receiving a referral: confirm the referral source and referring party's license status; confirm client information and the nature of the need; clarify expectations regarding communication and updates to the referring party; review referral agreement requirements before any client contact; and establish communication procedures with the referring party. Referral agreements should be executed and documented before any service is provided. Refer to the Referral Transaction Checklist in Appendix D for the complete procedure.

When referring a client to another professional or brokerage: confirm the suitability and qualifications of the referral recipient; discuss referral expectations with both the client and the receiving agent; document all referral arrangements; execute referral agreements when required; and track referral progress through to closing. Client interests should remain the primary consideration when making referrals — Strata should only refer clients to professionals whose quality of service reflects well on the brokerage.

Whenever compensation is anticipated, referral agreements should be executed and maintained in accordance with brokerage policy and applicable Nevada regulations. Referral agreements should clearly identify: the parties involved; the referral client; compensation terms and percentage; payment procedures and triggering conditions; and any applicable conditions or contingencies. No referral fee may be paid to or received from an unlicensed party. The Broker reviews and signs all referral agreements.

Referral transactions should be monitored until completion. Tracking should include: initial referral date; confirmation that the client was contacted by the receiving agent; transaction status updates at key milestones; closing date and confirmation; and commission collection status. Accurate tracking ensures accountability and proper compensation processing — unclosed referrals should be followed up on periodically to confirm status.

Referral compensation should be documented and processed in accordance with brokerage policy and applicable law. All referral fee payments — incoming and outgoing — must flow through the brokerage and be processed by the Broker. Referral compensation may not be paid directly between agents. Records relating to referral compensation should be retained within the transaction file for the full five-year record retention period.

Strata values long-term professional relationships built on trust, reliability, and mutual benefit. Referral partners may include: real estate brokers and agents; property managers; builders; lenders; escrow professionals; and other industry professionals. Professionalism, consistent communication, and follow-through contribute to successful referral relationships. A referral partner who receives excellent service for their client will refer again — a partner who does not will not.

Required documents vary depending upon transaction type. Files should contain all documents required by brokerage policy and applicable regulations. Examples may include:

Refer to Appendix E of this manual and the applicable Strata transaction file checklists for the complete document requirements by transaction type.

Agency disclosures and related documents should be completed and retained within the transaction file. Examples may include: Duties Owed forms; Confirmation Regarding Real Estate Agent Relationship; Consent to Act forms; and other agency-related documentation. Agency documentation should be completed in accordance with applicable Nevada law and brokerage policy. Priority agency documents marked with an asterisk (*) on Strata's transaction file checklists must be signed and provided to the client on or before contract signing.

The transaction file should contain all executed contract documents including: purchase agreements; counteroffers; amendments and addenda; extension agreements; and repair agreements. All fully executed versions — meaning signed by all required parties — should be maintained within the file. Unsigned drafts should not be retained as the operative version of any contract document.

Required disclosures should be retained within the transaction file. Examples may include: seller disclosures; SRPD (Sellers Real Property Disclosure); Construction Defect Disclosure; lead-based paint disclosures; HOA and CIC documentation; gaming and zoning disclosures where applicable; and other required disclosures. Disclosure requirements vary depending upon transaction type and property characteristics — refer to the applicable Strata transaction file checklist to confirm all required disclosures for each transaction.

Inspection-related records should be maintained whenever applicable. Examples may include: home inspection reports; roof, HVAC, pool, or other specialist inspection reports; repair requests and repair responses; supporting documentation such as vendor estimates or invoices; and any inspection memoranda required where inspections are declined. The file should clearly reflect how inspection issues were identified, communicated, and resolved during the transaction.

Escrow-related records should be maintained throughout the transaction. Examples may include: earnest money confirmation and receipt; escrow instructions; commission instructions; preliminary title report; settlement statement (Final HUD); and closing confirmation. Escrow documentation establishes a complete record of transaction activity from contract acceptance through closing.

Material transaction communications should be documented whenever practical. Examples include: price changes and price reduction authorizations; negotiation instructions from the client; repair decisions and repair agreement communications; contract modifications and amendment authorizations; and significant client directives of any kind. Documentation may consist of emails, written confirmations, transaction notes, or other appropriate records.

If a required document is missing from the transaction file, the following steps should be taken:

Missing documentation should never be ignored or left unresolved whenever corrective action remains possible. The file must be complete before the commission check will be issued — no exception.

Transaction files may be reviewed periodically to verify compliance with brokerage standards. Reviews may evaluate completeness, accuracy, presence of required documents, signature status, and compliance documentation. Deficiencies identified during an audit should be corrected promptly whenever possible. The Broker or designated reviewer may conduct file audits at any time during or after the transaction period.

Prior to archiving, the transaction file should be reviewed for completeness. The review should confirm: all required documents are present; all required signatures have been obtained; all required disclosures are included; closing documentation is complete and accurate; and any previously identified missing items have been resolved. A complete file reduces future compliance concerns and supports effective record retention. The Broker's review and sign-off is required before commission release on every transaction.

Transaction records shall be retained in accordance with Nevada law, brokerage policy, and the standards established in Book 1: Broker Office Management & Compliance. The minimum retention period under NRS 645 and NAC 645 is five years from the date of the transaction or the date the record was created. Records subject to pending litigation, regulatory proceedings, or unresolved complaints are retained until those matters are fully resolved, regardless of the five-year baseline. No transaction records should be destroyed without Broker authorization and confirmation that all applicable retention requirements have been satisfied.

A completed transaction is not the finish line. It is often the beginning of a long-term relationship. Today's client may become tomorrow's seller, a future buyer, a property management client, an investor, a referral source, or a lifelong advocate for the brokerage. For this reason, decisions should be made with the long-term relationship in mind. The objective is not to maximize a single transaction — it is to earn trust that lasts beyond the transaction itself.

Trust is the foundation of every successful relationship. Trust is earned through honesty, transparency, reliability, accountability, and professional conduct. Every interaction should strengthen confidence in the brokerage and its representatives. Without trust, lasting relationships cannot exist.

Clients should never feel uncertain regarding the status of their transaction. Strong communication demonstrates respect, professionalism, reliability, and accountability. Communication should be proactive, timely, and clear. Many clients judge the quality of service not by the outcome of the transaction, but by the quality of communication received throughout the process.

Professionalism reflects the standards of the brokerage. Professionalism includes preparation, courtesy, competence, reliability, and follow-through. Clients should feel confident that their interests are being represented professionally at every stage of the transaction — and in every interaction before and after it.

Clients should receive the same high standard of service regardless of price point, property type, transaction complexity, or market conditions. Consistency builds confidence and reinforces the reputation of the brokerage. Clients should know what to expect when working with Strata — and that expectation should always be met.

Care is often what transforms a successful transaction into a lasting relationship. Care means listening carefully, understanding goals, respecting concerns, responding thoughtfully, and remaining available when needed. Clients should feel that their interests genuinely matter — not as a statement, but as a demonstrated reality throughout the experience. Care cannot be automated, delegated, or replaced. It must be demonstrated consistently through actions.

Every client interaction contributes to the overall client experience. The Strata client experience should be characterized by professional guidance, clear communication, organized processes, attention to detail, responsiveness, respect, and reliability. The goal is to create confidence throughout the transaction process. Clients should feel informed, supported, and valued — not just at closing, but at every point of contact.

Strata seeks to build relationships that continue long after closing. This philosophy extends beyond sales transactions. Future opportunities may include property purchases, property sales, investment acquisitions, leasing services, property management services, new construction opportunities, and referrals. The completion of a transaction should be viewed as the beginning of a long-term professional relationship — not the conclusion of a business arrangement.

The reputation of a brokerage is not built through advertising alone. It is built through consistent client experiences over time. Every transaction contributes to the legacy of the brokerage. Every client interaction shapes how Strata is remembered. The legacy Strata seeks to create is one of trust, professionalism, service, reliability, and long-term relationships. A strong reputation is earned transaction by transaction, relationship by relationship.

The closing table represents the successful completion of a transaction. For Strata, it also represents the beginning of something more important. Long after documents are signed and keys have changed hands, the client should continue to view Strata as a trusted resource. The transaction may end. The relationship should not. The brokerage's commitment to service continues beyond closing through communication, guidance, future assistance, and ongoing support whenever appropriate.

This philosophy is what distinguishes a transaction-focused business from a relationship-focused business.