# PSA to Close Transaction Coordinator Research

## Purpose

- Supports `skills/brokerage/psa-to-close-transaction-coordinator.md`
- Intended for seller-side brokers supporting transaction execution after a deal is signed

## U.S.-Only Assumptions

- Focus is U.S. commercial investment sales
- The seller is under contract or equivalent binding deal stage
- The broker is coordinating and issue-spotting, not acting as counsel, title officer, or escrow holder

## Source Table

| Source | Publisher | URL | Publish Date | Access Date | Source Type | Notes |
|--------|-----------|-----|--------------|-------------|-------------|-------|
| MLS Commercial Handbook | NAR | https://www.nar.realtor/sites/default/files/documents/2024-08-02-commercial-mls-handbook.pdf | 2024-08-02 | 2026-04-22 | Primary industry handbook | Offer, counter-offer, status reporting, listing updates |
| 2026 Code of Ethics & Standards of Practice | NAR | https://www.nar.realtor/about-nar/governing-documents/code-of-ethics/2026-code-of-ethics-standards-of-practice#article12 | 2026 | 2026-04-22 | Primary industry standard | Competence and transaction conduct baseline |
| Commercial Real Estate Disposition: A Complete Guide | Trinity Real Estate | https://trinityre.com/cre-disposition-management-services/ | n.d. | 2026-04-22 | Practitioner process guide | Diligence and closing-stage seller support |
| The Strategic Sale: A Guide to Maximizing Value in Commercial Real Estate Disposition | One West Group | https://theonewestgroup.com/the-strategic-sale-a-guide-to-maximizing-value-in-commercial-real-estate-disposition/ | n.d. | 2026-04-22 | Practitioner process guide | Data-room response, diligence management, contingency removal |
| How Long Does It Take to Sell a Commercial Building? | Lornell Real Estate | https://www.lornellre.com/insights/how-long-does-it-take-to-sell-a-commercial-building | n.d. | 2026-04-22 | Practitioner process guide | LOI, diligence, financing, and closing timeline norms |
| Legal Memorandum LI04: Real Estate Brokers and Salespersons and the Unauthorized Practice of Law | New York Department of State | https://dos.ny.gov/legal-memorandum-li04-real-estate-brokers-and-salespersons-and-unauthorized-practice-law | 2019 | 2026-04-22 | State legal guidance | Contract-drafting boundary and attorney approval concept |
| Is It an Unauthorized Practice of Law? Should a Real Estate Professional Prepare a Contract? | Wells, Jaworski & Liebman | https://www.wellslaw.com/is-it-an-unauthorized-practice-of-law-should-a-real-estate-professional-prepare-a-contract/ | n.d. | 2026-04-22 | Legal commentary | Commercial contract and lease drafting boundary |
| Do Brokers (unknowingly) Practice Law Without a License? | Mashian Law Group | https://mashianlaw.com/do-brokers-unknowingly-practice-law/ | n.d. | 2026-04-22 | Legal commentary | California commercial transaction boundary guidance |
| What Is Best and Final in Commercial Real Estate? | PropRise | https://www.proprise.ai/primer/glossary/best-and-final/ | n.d. | 2026-04-22 | Practitioner process explainer | PSA execution and backup-bid logic |
| Commercial Property Due Diligence with a Data Room | Fast.io | https://fast.io/resources/commercial-property-due-diligence/ | n.d. | 2026-04-22 | Process explainer | Data-room and diligence volume framing |

## Key Findings

- After execution, the broker's highest-value role is **process control and issue visibility**.
- Core seller-side post-PSA coordination duties:
  - deadline calendar
  - diligence request management
  - buyer / counsel / title coordination
  - seller response tracking
  - contingency removal monitoring
  - backup-bid awareness
  - status updates
- The broker should distinguish clearly between:
  - business-process coordination
  - factual document collection
  - legal interpretation and drafting, which belong with counsel
- A clean diligence-to-close process depends heavily on:
  - complete data room
  - clear response ownership
  - tracked dates
  - disciplined communication

## Benchmark and Process Decisions

- The skill should produce:
  - a milestone timeline
  - responsibility matrix
  - open-issues tracker
  - contingency and deposit status summary
- Required workstreams:
  - PSA and amendments
  - title / survey
  - diligence materials
  - financing evidence where relevant
  - estoppels / tenant notices where relevant
  - closing statement readiness
- The skill must explicitly flag when counsel or title must take over.

## Conflicting Source Resolution

- Practitioner closing guides differ on detail level, but all reinforce the need for disciplined milestone tracking and fast response loops.
- State-law sources control on what brokers should not draft or advise on, even if local practice is more informal.
- MLS reporting rules matter only insofar as listing / status updates remain required after contract milestones.

## Edge Cases and Red Flags

- Buyer repeatedly resets diligence asks without clear process control
- Seller or broker confuses business coordination with legal advice
- Backup buyer is dropped too early in a fragile deal
- Earnest money hard date, financing evidence, or title deadlines are not being tracked in one place

## Open Questions

- Whether later releases should include a dedicated backup-bid management skill
- Whether future versions should add 1031 or portfolio-closing variants
- Whether later packs should include transaction-side communication templates
