Real Estate 101: Should I Hire a Transaction Coordinator
If you’re a real estate agent, rainmaker of a team or broker and are thinking about hiring a transaction coordinator, here’s what you need to know.
In this blog post, we’ll cover why it’s important to have someone on your team who can help with all of the different tasks involved in completing a real estate transaction.
What is a Transaction Coordinator and What Do They Do?
Transaction Coordinators are a crucial part of any real estate agent’s business, and there is no denying that they can help tremendously. If you are finding you are spending more time involved in making sure your client makes it to the closing table versus generating new business, it might be worth looking into hiring someone to manage this for you.
A good amount of agents work with transaction coordinators on both the purchase and listing sides of transactions to leverage aspects of the business that the agent either doesn’t have time for or they are not particularly strong in
So what do these professionals actually do?
Transaction Coordinators have various backgrounds; some come from administrative, accounting, or finance positions while others may have worked within law firms before getting involved in real estate.
In short, these individuals are well organized, pay attention to the details, and have excellent verbal and written communication skills. Here is a general overview of some of the tasks a transaction coordinator is responsible for:
Why would I hire one?
If a transaction is complex or your workload exceeds what you can handle, then hiring someone to help you is the right choice. Transaction coordinators handle the heavy lifting and allow agents to focus on what they do best: working on connecting with their sphere of influence and affiliates to generate new business and referrals.
The money spent on a transaction coordinator pays off in saved time for the agent by not having to get into the weeds when it comes to transactions and spend more time doing the things they excel at. That’s not all… when you are working with a transaction coordinator at Empower Transactions, you don’t have to worry about training them on mundane things like how to read a contract or the steps involved in a real estate contract. All Empower TC’s are experienced and go through a comprehensive training to serve agents at a high level.
What are the benefits of hiring a transaction coordinator?
We’d love to share our insights with you and help determine if hiring an Empower TC is the right fit for you and your business.