What Are the Duties of a Transaction Coordinator?

By
Services for Real Estate Pros with Twin Cities

Transaction Coordinator takes responsibility for managing all the tasks and deadlines of a real estate from contract to closing. 

Some of the duties of a Transaction Coordinator include:

  1. Responsible for the processing of all the real estate contracts to closing.
  2. Coordinating appointments for appraisals, inspections, and closing.
  3. Communicating with customers, clients, cooperating agents, lenders, title/escrow agents, and other service providers throughout the complete process.
  4. They are responsible for proper documentation of the file to follow with policies brokerage.
  5. Assures that all post-closing, filing disbursements, and procedures take place.
  6. Frees the agent-client up to focus on business-building activities.

Across the country in many offices, there are transaction coordinators on staff who are shared among the office. While this approach seems beneficial or practical because the TC is in house and can be accessed by stopping by his/her desk. It’s not always the most effective or best approach when explored further.

There are many reasons for that, and a few are outlined and are the following:

The office pays the transaction coordinator and has a task, which is not exclusively coordinating transactions. Meaning, they could be pulled away from their responsibility to help the other departments such as listing coordinating, receptionist, or what have you. It means they aren’t working on your transactions.

  • Interruptions! The facts are clear, and it can take more than 20 minutes to get back on task after a break. That said, imagine how inefficient it’ll be if agents are going in and out of the TCs office all day.
  • Favoritism of agents can be a problem within the office. An onsite transaction coordinator might do more for those that are her favorites.
  • Most of the offices have no contingency for coverage for sick days, or when the workload is higher than usual. When the onsite transaction coordinator is not in the office, the agents are expected to handle their transactions.
  • Office politics, Traffic, and everything else that goes with having a job.

At Twin Cities TC, we take care of the boring stuff of real estate paperwork, so you don’t have to. 

CONTACT US at https://twincitiestc.net/

Conclusion

While there is no perfect world, there are solutions, to help the agent provide the best service to their seller/buyer from contact to close. That too, without many of the common challenges affiliated with having an in-house transaction coordinator. A person would be hiring his own transaction coordinator to work exclusively for him. While it may be costly, it would provide you with the ultimate solution to help save your time. One more solution is to do an agreement with a company that provides qualified transaction coordinators to real estate agents on an as-needed basis. Allowing you to have access to a highly-skilled transaction coordinator when you need it based on your business volume.

 

Call Us Today! 612 701 7763office@twincitiestc.net

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Rainmaker
4,107,206
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Dylan, many can benefit by a VA, especially if the agent is not good with paperwork and dates.

Sep 20, 2019 07:27 AM #1
Rainmaker
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Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty

Great post, thank you. Like it. Following your blog. Looking forward to read your new posts. 

Sep 20, 2019 07:36 AM #2
Rainmaker
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John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Welcome to the ActiveRain community. Congratulations on your first post.

Sep 20, 2019 06:03 PM #3
Rainmaker
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Sara Wagner
The Woodland Companies - Adams, WI
Stevens Point Rentals

Welcome to ActiveRain, I hope that your participation here helps your business to grow.
Btw, I followed your blog, and would be honored if you followed mine.
Thank You!

Sep 25, 2019 09:29 PM #4
Ambassador
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Dylan Hiler welcome to ActiveRain, and congratulations on successfully posting your first blog on this site.

Sep 26, 2019 05:29 PM #5
Rainer
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Dylan Hiler
Twin Cities - Minneapolis, MN
Real Estate paperwork services in Twin Cities

Thanks George Souto

Oct 01, 2019 06:31 AM #6
Rainmaker
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Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

Welcome to the rain!  These are all great reasons to use a transaction coordinator

Oct 08, 2019 04:09 AM #7
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Rainer
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Dylan Hiler

Real Estate paperwork services in Twin Cities
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