Transaction Coordinator – Reasons to Hire One Now

A transaction coordinator is a great first step to take if you’re thinking you need help in your real estate career. A transaction coordinator or TC takes over everything once you have ratified a contract with a buyer or seller. They manage the process from escrow to close for you, including communication with all parties of the contract. Just like agents, coordinators are only paid when a contract closes, so they are a great first addition to your real estate team. Here are some reasons you might need a TC right now.

Take your Business to the Next Level

Realtors understand the daily activities that must be completed to be successful. From prospecting for new clients, to hand holding to get them qualified and beyond, daily interruptions can derail an agent’s business growth. Hiring a TC allows you to control your time by limiting interruptions once a contract has been ratified. The transaction coordinator will review contracts for compliance, and conduct all communication and actions throughout the process from clients, lenders, title, insurance companies, inspectors and more. This allows you to move onto new clients and get them under contract to increase your business.

Never Miss Details

Real estate contracts are long, with multiple disclosures, and it’s easy to miss a deadline when you are putting out fires or dealing with a client that came into town last minute. Having another set of eyes on your contracts will help you avoid costly mistakes. The transaction coordinator will ensure all compliance and contract dates are met, ask if something seems off and ensure everything is delivered and closed on time.

Not Financially Ready to Hire Full Time Help

If you want to grow your business but not quite financially ready to commit to hiring an admin as your income still fluctuates, hiring a transaction coordinator can get you past that hump while filling the gaps. Coordinators are paid only when a transaction closes, so if you have a month where you have lost several closings you don’t have to worry about still having to pay your admin on top of losing income for yourself. This can help you grow to a level where your income is more predictable and you can invest in a part or full time hourly admin when you are completely ready.