Benefits of Hiring a Transaction Coordinator
A real estate transaction is full of complex paperwork that differs by city and is impacted by local, state and federal laws. That’s why home sellers often decide to use an agent to manage their sale. Real estate agents typically hire a professional known as a Transaction Coordinator (or TC for short) to help them manage all the paperwork involved in the selling process. So what exactly is a Transaction Coordinator and what do they do?
A Transaction Coordinator is a real estate professional who manages all the paperwork and deadlines involved in a real estate transaction. They are trained in every step of the selling process and are tasked with monitoring progress from the time the seller accepts an offer through the close of escrow.
Unless you’ve sold several homes yourself, chances are you aren’t intimately familiar with the various requirements needed to complete the real estate transaction. If you miss something or fail to complete the paperwork properly, your deal could fall apart, resulting in penalties that could lead to lawsuits.
A Transaction Coordinator will reduce the stress associated with selling a property by:
1. Ensuring everything stays on track throughout the selling process
TCs supervise every stage of a home sale, from a signed contract to closing. Chances are, you’re not intimately familiar with all the deadlines, timelines and clauses that need to be followed during a sale. Let your TC worry about keeping things moving along.
2. Helping you move quickly and seamlessly through the escrow and closing process
If a buyer is slow to send paperwork, a lender is being unresponsive or there’s any other hiccup encountered, your TC will go to work to get things moving again. Since they know what deadlines have to be met when, they can take the appropriate actions to quickly resolve any speed bumps that come along the way.
3. Quickly and efficiently managing any issues that arise with buyers, paperwork or outside parties
There is a lot of paperwork and tasks involved in executing a real estate sale. Managing the process is time consuming. That’s why it’s a good idea to let your TC handle it for you. This will free up your time to focus whatever it is you need to get done.
4. Acting as a point of contact to address any questions you have throughout the sale
Transaction coordinators have extensive experience with the home sale process and can serve as the go-to person to address any of your questions or concerns. As a real estate expert, they’ll most likely either have an answer for you or will be able to tell you the best person to direct your question to.