Summary
To ensure compliance with legal regulations, smooth financial processing, and seamless transaction management, all transaction data must be kept complete, accurate, and up to date in Faltour (Nexone). This standard operating procedure outlines the mandatory data entry timelines, operational standards, accountability structures, and performance incentives for all team members executing real estate contracts.
Standards of Behaviour
1. Accepted Offers
Timeline: The Realtor must enter full transaction details into Faltour within 24 hours of offer acceptance.
Documentation: Fully executed Agreements of Purchase and Sale (APS) or Agreements to Lease, along with all supporting schedules, must be uploaded simultaneously with the initial data entry.
2. Compliance Documents
Guidelines: The Realtor must upload
3. Ongoing Updates
Status Adjustments: Pipeline status changes (e.g., changing from conditional to firm, processing listing extensions, or updating price amendments) must be modified in Faltour on the same day the change occurs.
Correspondence: All critical legal correspondence, transaction receipts, or structural documents must be uploaded continuously as they are received.
Operational Workflow Matrix
Transaction Stage | Required Action | Responsible Seat | Deadline |
New Conditional Deal | Create client record with BRA and RECO Guide. Create the transaction, input data (including commission structure), and upload APS, Co-Op, MLS listing page, and any schedules. Approve and submit the transaction for review. | Realtor | Within 24 hours of acceptance. |
Deal Firm | Realtor to upload new waivers, amendments or NOF’s. Change the status of the transaction to Firm. Complete Fintrac, PEP, and ROF. | Realtor | Within 24 hours of the deal going firm. |
Legal Review | Verify lawyer contact info and gather other parties lawyer contact info. | Realtor
| Upon file going conditional or firm. No longer than 24 hours after it goes firm. |
Transaction Closing | Upload / make any adjustments as necessary before closing (e.g., closing date change). | Realtor | When relevant. |
Accountability & System Communication
System Reviews: The Operations seat checks in with Realtors daily for new deals and performs weekly audits and spot-checks of all active pipelines in Nexone to verify absolute completeness, accurate document labeling, and compliance.
Internal Team Notifications: The Realtor is strictly responsible for maintaining their files and immediately notifying the team as soon as a file is conditional or firm.
System Efficiency: Missing, incorrectly labeled, or delayed documentation creates unnecessary administrative bottlenecks and halts backend processing by our accounting HUB.
Consequences
System Compliance Escalation: Agents who fall behind on mandatory uploads will receive an initial administrative reminder after 24hrs. If the agent fails to upload the missing documents by the 72hr mark, the Nexone transaction will be sent to the Brokerage’s concerige services to be completed, at the agent’s expense.
Why This Matters
Client Care: Maintaining up-to-the-minute records prevents legal friction, ensures federal compliance, and creates a stress-free, professional environment for our buyers and sellers.
Team Efficiency: Standardizing our entry habits eliminates duplicate work, saves computational time, and stops the administrative staff from having to chase missing signatures.
Brand Professionalism: Reliable file administration reinforces our collective identity as a detailed, people-first real estate team that local brokerages and legal professionals trust.