Have you ever wondered what a Transaction Coordinator does?
Real estate transaction coordinators are a valuable resource to use when representing the buyer or seller on the sale of their property. Yet many Realtors don't utilize a transaction coordinator.
In this blog, you will be provided with tips and suggestions on how to effectively work with and utilize a real estate transaction coordinator.
The job of a transaction coordinator is to ensure that the entire transaction contract to close is managed and coordinated as seamlessly as possible for both you and your clients. When you work with a transaction coordinator for your real estate transactions, you can be confident that your client's needs are being met and that there will be no loose ends and as minimal errors and delays as possible.
Partnering up with a transaction coordinator is going to give your clients an overall better service with you. They will get a transaction specialist dedicated to the success of their home buying or selling transaction, keeping them informed and up to date to ensure minimal delays and errors. This will also give you, the realtor more time to put into growing your business and ensuring a great relationship with your client.
When hiring a real estate transaction coordinator it is important to set expectations and outline anything you do not want them doing otherwise chances are if it has to do with the transaction contract to close your transaction coordinator will take care of it for you and you do not want 2 people doing the same thing. Communication is also hugely important and part of setting expectations with your TC and supplying them out of the gate with access to systems and information they will need to save you anywhere from 10-20 hours per transaction.
What does a Transaction Coordinator do?
The transaction coordinator's responsibility is to ensure that all the paperwork, administrative tasks, and coordination involved in buying or selling property get done efficiently and on time.
This includes:
Ensure all paperwork is compliant, executed & filed.
Managing, coordinating, and setting up inspections, appraisals, closing, etc.
Being the point of contact for Co-Broke agents, title company, lenders, etc.
Communicate progress & keeping all parties on track and informed.
Putting out fires to limit errors and keep everything on track.
And so much more!
A transaction coordinator is an essential part of the real estate transaction process if you are looking to scale, grow your business and offer your clients a concierge-level experience they will remember for life.
Looking to add a dedicated Transaction Coordinator to your team? Connect with us!
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