Managing contracts in MyOps covers the full transaction lifecycle: viewing details, editing information as the deal progresses, updating status, marking as closed when it completes, and cancelling when a deal falls through. This guide walks through each workflow.
Key features
- View full contract details (read-only)
- Edit contract information at any time
- Update dates as the deal progresses
- Change agent assignments
- Modify client information
- Update commission details
- Add notes and documentation
- Mark contracts as closed
- Cancel contracts that fall through
- Track complete transaction history
Getting started
- Navigate to the Contracts page and locate the contract you want to manage.
- Use the Action column buttons: arrow icon to view details, pencil icon to edit.
- Find additional status options within the contract details.
- Review changes before saving and confirm status changes (close, cancel).
Viewing contract details
Click the arrow icon (→) in the Action column of the Active Contracts table to open the contract in a read-only view, where you can review everything without making changes.
What you'll see:
- Property information: complete address, property type and characteristics, MLS number (if applicable), and details (beds, baths, etc.).
- Contract details: contract ID, representation type, under contract date, projected/actual closing date, current status, and auto-calculated days in contract.
- Client information: buyer/seller name, contact information, email, phone, and preferred contact method.
- Agent information: assigned agent name, team assignment, cooperating agents, and agent contact information.
- Financial details: purchase price, commission amount or percentage, commission splits, and estimated proceeds (if calculated).
- Lead source: original lead source, marketing attribution, and referral information.
- Timeline and status: all important dates, current status, status history, and milestones.
- Notes and documentation: transaction notes, special instructions, communication history, and attached documents.
Tip: Use view mode to review a contract before a client call, verify information, share details with the team, confirm status and dates, and prepare for closing. Scroll through all sections (or tabs), print or export if available, then close to return to the table.
Editing contracts
Click the pencil icon (✎) in the Action column to open the edit form with current data and all editable fields active.
What you can edit:
- Closing date changes (most frequent): the original closing date rarely holds; update as soon as it changes, keep all parties informed, and expect it may change multiple times.
- Property information: correct address errors, update property details, and add the MLS number if obtained later.
- Client contact information: updated phone numbers, new email addresses, and added alternate contacts.
- Commission details: amended commission amounts, Split changes, and added referral fees.
- Agent assignment: transfer to another team member, update if responsibilities change, and correct assignment errors.
- Notes and documentation: add transaction updates, record important conversations, and note issues, concerns, and resolutions.
Editing process:
- Click the pencil icon to open the editor.
- Click into the field you want to change and make your edits.
- Move through the other fields or sections as needed.
- Add a note about why the changes were made.
- Review all changes, then click Save or Update Contract.
- A confirmation message appears and the table updates.
Best practices for editing:
- Update closing dates immediately: don't wait; set calendar reminders, inform all relevant parties, and document the reason for the change.
- Document changes: note what changed, the date, and who requested it to keep an audit trail.
- Verify before saving: double-check numerical values, confirm dates, verify contact information, and review notes for clarity.
- Communicate changes: inform all parties, update the client on timeline changes, notify the coordinator/processor, and keep the broker in the loop.
Updating contract status
Most contracts progress through these statuses:
Active / Under Contract: the initial status when created; the contract is live and working toward closing.
Pending Closing: all contingencies removed, closing date confirmed, in the final stages.
Closed: transaction completed successfully; moves to Archived Contracts.
Cancelled: contract terminated without reaching closing; moves to Cancelled Contracts.
How to update status:
- Click the pencil icon to edit the contract.
- Find the "Status" or "Contract Status" field.
- Select the new status from the dropdown.
- Add notes explaining the change and include the date.
- Save. The contract may move to a different view automatically.
Marking as closed
Mark a contract closed only when the transaction has officially closed: closing occurred, funds transferred, ownership changed hands, and all paperwork is complete.
⚠️ Warning: Do NOT mark as closed if the closing is scheduled but hasn't occurred yet, you're waiting for final documentation, funds haven't transferred, or title hasn't recorded.
Method 1 (Status update):
- Click the pencil icon to edit the contract.
- Find the "Status" field and select "Closed" or "Completed".
- Enter the actual closing date (if different from projected).
- Add any final notes and confirm commission amounts.
- Click Save. The contract moves to Archived Contracts.
Method 2 (Close Contract button):
- Click the arrow icon to view details.
- Click the "Mark as Closed" or "Close Contract" button.
- In the confirmation dialog, verify the actual closing date.
- Confirm final commission amounts and add closing notes.
- Click "Confirm" or "Close Contract". The contract moves to the Archived view.
Information to update at closing:
- Actual closing date: may differ from projected; use the date closing actually occurred.
- Final commission amounts: confirm actual commission received, account for last-minute changes, and record exact amounts for taxes.
- Final notes: document any closing issues, note if the deal almost fell through, record client satisfaction, and add follow-up reminders.
After marking as closed:
- The contract moves to archives: it leaves the Active Contracts table, appears in the Archived Contracts tab, and remains fully accessible.
- Reporting updates: it's counted in closed volume and commission reports and affects performance metrics and agent statistics.
- Client follow-up: set anniversary reminders, add the client to your past-client database, request a testimonial, and plan future marketing touches.
Cancelling a contract
Cancel a contract when a deal falls through:
- Buyer backs out: during inspection, financing doesn't approve, appraisal comes in low, or cold feet.
- Seller withdraws: changes mind about selling, personal circumstances change, accepts a better offer, or discovers major property issues.
- Mutual cancellation: cannot agree on repairs, title issues can't be resolved, major defects discovered, or the timeline doesn't work.
- Contract expires: contingencies not met, closing delays too extensive, required actions not completed, or time limits exceeded.
Method 1 (Status change):
- Click the pencil icon to edit the contract.
- Find the "Status" field and select "Cancelled" or "Terminated".
- Add the cancellation reason in notes (important!) and include the date.
- Save. The contract moves to the Cancelled Contracts tab.
Method 2 (Cancel button):
- Click the arrow icon to view details.
- Click the "Cancel Contract" button.
- In the confirmation dialog, select the cancellation reason from the dropdown.
- Add additional notes and confirm the cancellation date.
- Click "Confirm" or "Cancel Contract". The contract moves to the Cancelled view.
Cancellation reasons to record:
Buyer issues: financing fell through, inspection issues, appraisal came in low, buyer changed mind, or buyer found a different property.
Seller issues: seller changed mind, seller accepted another offer, property issues discovered, or personal circumstances changed.
Property issues: major defects discovered, title problems, environmental issues, structural problems, or failed inspection.
Agreement issues: couldn't agree on repairs, terms couldn't be met, contingencies not satisfied, or timeline issues.
External factors: market changes, economic factors, natural disasters, or legal issues.
Information to document: cancellation date, reason, who initiated (buyer, seller, or mutual), lessons learned, the client relationship going forward, and any future opportunity to work together again.
After cancelling:
- The contract moves to the Cancelled tab: it leaves Active Contracts, appears in Cancelled Contracts, and stays viewable with its complete history.
- Follow-up actions: communicate with all parties, return earnest money if applicable, release the property back to market (if seller rep) or continue the buyer search (if buyer rep), and maintain the client relationship.
- Learning and improvement: review what went wrong, identify preventable issues, adjust processes if needed, and share lessons with the team.
Best practices
- Regular maintenance: review active contracts daily, update dates as soon as they change, add notes throughout, keep client info current, and document all communications.
- Date management: set reminders for closing dates, update them immediately when changed, track days in contract, monitor contingency deadlines, and coordinate with all parties in advance.
- Communication: keep all parties informed, document important conversations, follow up on action items, and over-communicate rather than under.
- Documentation: add notes at each major milestone, document problems and resolutions, record client preferences, note special circumstances, and maintain an audit trail.
Troubleshooting
Can't edit a contract: confirm you have edit permissions and are clicking the pencil (not arrow) icon, check whether the contract is locked by another user, refresh, then contact your admin if a permissions issue persists.
Changes won't save: confirm all required fields are completed, look for error messages, verify date and numerical formats, then copy your changes, refresh, and try again.
Can't find the option to mark as closed: look for the Status field in edit mode or a "Mark as Closed" button in view mode (it may be under a "More Options" menu), and contact your admin if it requires specific permissions.
Accidentally marked the wrong status: edit the contract immediately, change the status back, add a note about the error, inform relevant parties, and check where the contract is now located.
Contract disappeared after a status change: check the Archived and Cancelled tabs, use search, verify the status you selected, then contact your admin if you can't locate it.
FAQs
Can I undo a status change? Yes, edit the contract, change the status back, and add a note about the correction.
What if the closing date changes multiple times? Update it each time. This is normal in real estate; just keep it current.
Do I need approval to mark as closed? It depends on your brokerage's policies. Some require broker verification before archiving.
Can I reactivate a cancelled contract? Typically no. If the deal comes back together, create a new contract record.
How long after closing should I mark it as closed? Immediately after closing occurs and you have confirmation. Don't delay.
What if I archived a contract by mistake? Contact your admin to move it back to active status, and provide the contract ID.
Can I see who made changes to a contract? Check whether the system has a change history or audit log feature, which may show edit history.
What if the closing date is TBD? Enter your best estimate and update it when confirmed. Use typical timelines (30-45 days) as a guide.
Should I keep updating a cancelled contract? No, once cancelled it's final. Make sure all relevant information is noted before cancelling.
Can I bulk update multiple contracts? Check for bulk editing features. If unavailable, contracts must be updated individually.
What happens to commission tracking when I mark as closed? Closed contracts are typically counted in commission reports and used for calculations.
How do I handle a contract that's delayed indefinitely? Keep updating the closing date or add notes about the delay. Don't cancel unless it officially falls through.
Need Help?
- Ask Maria: the AI assistant in the top navigation for quick questions.
- Search: find specific contracts instantly from the search bar.
- Support: contact the MyOps support team for assistance.
