You may be wondering, what exactly is a transaction coordinator and what do they do? As an agent, is this something I need? How would it help my business? Let’s dive into some of the basics below.
A transaction coordinator is typically someone in the real estate industry, licensed or unlicensed, who assists agents with the tedious details of the pre-listing or contract-to-close parts of the transaction.
Examples of some tasks transaction coordinators take off an agents plate are:
Opening title/escrow
Checking all paperwork for accuracy, missing signatures or initials
Distributing executed paperwork to all parties
Ordering home warranties and surveys
Submitting compliance paperwork to brokerages
Scheduling inspections and other vendors, if needed
Scheduling closing
And much more
On average, transaction coordinators spend 12+ hours on each transaction. That’s 12 hours you get back for prospecting, marketing, working on your systems or just taking a break! For contract-to-close services, transaction coordinators are usually paid when (and if) the property closes, so we only get paid if you do!
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