Ready to Hire a Transaction Coordinator?
As a real estate agent, you know that the buying and selling process can be complex and time-consuming. One way to take the administrative half of it off your desk is by hiring a transaction coordinator. But what exactly does a transaction coordinator do, and why might you need one? In this post, we’ll explore the role of a transaction coordinator, the benefits of hiring one, and what to look for in a great transaction coordinator.
A transaction coordinator is a professional who handles all of the administrative tasks associated with a real estate transaction. This includes tasks such as scheduling inspections, coordinating with escrow and title companies, and making sure the necessary paperwork is completed and submitted on time. A typical file we handle runs about 15 documents, 11 signature and initial checkpoints, and roughly 113 pages. Essentially, a transaction coordinator acts as a liaison between all parties involved in the transaction, making sure that everything runs smoothly and that deadlines are met.
So, why might you need a transaction coordinator? For one, hiring a transaction coordinator can save you a significant amount of time and energy. As a real estate agent, you likely have a lot on your plate, and taking on all of the administrative tasks associated with a transaction can be overwhelming. By hiring a transaction coordinator, you can focus on what you do best (finding and working with clients) while the coordinator handles all of the details.
Another benefit of hiring a transaction coordinator is that it helps make sure deadlines are met and the necessary paperwork is completed correctly. That prevents the delays and complications that come up when paperwork is wrong or a date slips. The paperwork itself has also grown: the NAR settlement FAQs lay out the written buyer agreement requirements that are now part of nearly every deal.
When it comes to hiring a transaction coordinator, there are a few key things to look for. One important factor is experience. Look for someone who has a good amount of experience working in the real estate industry and who has a solid understanding of the buying and selling process. It also matters that the person is organized, detail-oriented, and able to meet deadlines.
Another key trait of a great transaction coordinator is the ability to communicate effectively. A transaction coordinator will be communicating with a variety of different parties (clients, escrow and title companies, etc.) so it’s important that they can communicate effectively and professionally.
Hiring a transaction coordinator can be a great move for real estate agents who want the buying and selling process off their plate and their time back for the work only they can do. Knowing what to look for is what decides whether you hire the right person. If you are looking for a superior team of TC’s, Empower Transactions is here to help! Want to know more about what we have to offer? Click below or call us today at (520) 900-1551!
