When Does It Make Sense to Hire a Transaction Coordinator?

In looking back on your last few transactions, were there problems? Did something important fall through the cracks? Were you late getting something done, or did you forget to do something altogether? Were so buried in paperwork, administrative tasks, and emails etc., spending so much time on your computer that you hardly spent any time with people? If so, you basically had little face-to-face time with clients and didn’t spend enough time prospecting. You probably missed spending time with your family as well.

If any of this sounds like you in your last few transactions, you really should consider getting help from a professional real estate transaction coordinator.

What Does a Transaction Coordinator Do?

A professional transaction coordinator (TC), is a real estate agent’s right hand who handles the administrative tasks necessary to move a transaction from one stage to the next, from initial contract to final closing.

Here’s a comprehensive list of a TC’s various responsibilities:
• Opening escrow
Scheduling inspections
• Negotiating repairs and following through to completion
• Overseeing the contingency period
• Seeing that required documentation is submitted
• Coordinating the closing
• Making follow-up calls after closing and asking for referrals.

Transaction Coordinator

The larger brokerages are likely to have in-house TCs, but they can also be hired independently. My hunch is that if you hire your own you will get better service, and REALTOR Magazine agrees.

Advantages of Using a Transaction Coordinator

A good TC will give you peace-of-mind because you can trust him/her to constantly check every detail, so everything is done the right way and on time. This will allow you to stay on top of everything. You can trust that every agreement will be filled out correctly, the deposit will always be paid on time, and every deadline will be met with time to spare, etc.

The most time-intensive administrative duties required in every real estate transaction will be handled by your TC, which frees up your time so you can focus on the bigger picture.

• Prospecting
• Building relationships
• Providing excellent service
• Converting leads
• Spending time with family and friends
• Enjoying life

Check out Transactly.com a transaction coordinator services company.

Transaction Coordinator

However, if you really cannot afford to hire a TC at the moment you can get some of that administrative work taken care of by using the most effective CRM for Realtors. Ascend Leadsites CRM helps you automate your entire transaction process using dynamic workflows. You can effectively manage every aspect of your transaction, including critical dates, documents, events, escrow correspondence, people, tasks and etc. And one day when you finally do hire a transaction coordinator you will already have everything set up on your CRM.

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