Real Estate transaction coordinators help keep us out of trouble

We may seethe, complain, throw a hissy fit when transaction coordinators remind us what we’re missing in terms of our paperwork. And we may gnash our teeth when we don’t get paid if the file isn’t complete. paperwork

According to CAR (California Association of Realtors), here’s a Definition of a Transaction Coordinator: A person who assist the agent and broker in the processing of the real estate file. Gathering all information, paperwork, and following up on the contractual items. Putting together the final Broker file of the real estate transaction.

 

Here’s the job description for transaction coordinators. According to this writer, they are an “underutilized asset.”


Give our transaction coordinators kudos for doing their job-- which is making sure we have all our disclosures and other communications complete and on record.

Think of them in another way as the lawsuit-prevention department.
In a litigious society where people are so quick to threaten a lawsuit, it is the natural course of business to CYA (Cover your A__).  Because we are so busy trying to make deals, we may sometimes ignore the details. That’s where our transaction coordinators come in. They keep us on the straight and narrow. Check and double check.

Cheers to all you transaction coordinators. We appreciate you!

 
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7 Comments on Real Estate transaction coordinators help keep us out of trouble

JUL
22
392,467 Points Outside Blog

There was only once in my 28 years that I had one ever since than I've done my own. There is something to be said about knowing and doing your own files.
12:05pm • #1
617,175 Points 60 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Winston -- In my case, it helps to have someone to double check. When I write something, it's difficult to proof read my own work. in my agency, many of us do our own files in ...but we also have a transaction coordinator monitoring what we do. And if it's not complete, the broker doesn't sign the check and we don't get paid.
12:09pm • #2
526,187 Points 54 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Patrica - I have not used a transaction coordinator yet either I are my assistant does it all.  Thanks for the post  a great read.  I am going to consider this so that our time could perhaps be better spent in other areas.
12:10pm • #3
617,175 Points 60 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Barbara ---  having an assistant is nearly if not better than having a transaction coordinator. But it helps to have someone looking out for us in this manner.
12:12pm • #4
177,110 Points Outside Blog

Nothing wrong with another set of eyes and ears. 

Sometimes we are blind or deaf to the obvious.
12:40pm • #5
333,277 Points 6 Featured Posts Called Shot Master

Pacita - I agree with you.  It's good to have that extra set of eyes on the contract to make sure all is done correctly.   I use a TC on all my transactions.
1:16pm • #6
617,175 Points 60 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Erv --- yep, sometimes we are totally oblivious

Jim --- as they say, "the devil in the details"
1:27pm • #7

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Pacita Dimacali - ePRO, SRES, CDPE, MBA Alain Pinel in Alameda County CA

Oakland, CA

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