Advantages of Hiring a Transaction Coordinator
Being an agent, you represent your clients – they are the principals in your real estate deal. You definitely want all your deals to close – but that takes time away from gathering new listings and securing future income. The long list of tasks a real estate agent performs includes everything from verifying that every document is signed and initialled in the right places to establishing escrow accounts for buyers and reminding agents of deadlines throughout the transaction. TCs handle all the time-consuming work. Having a third party manage all communications related to a deal has other benefits, too. The TCs record-keeping can be crucial should a disagreement emerge or a lawsuit ever be filed.
Below are some advantages of hiring a TC:
Detailed Transaction File
During a transaction, a lot of sensitive data is exchanged between the buyer, seller, lender and so on. Your TC will safely and securely manage all confidential information. They are also responsible for accurate record-keeping, which can be critical if a disagreement or a lawsuit emerges.
TCs can provide virtual support. As long as you have access to a computer and phone, your TC can literally be anywhere with an internet connection, managing your real estate sale.
TCs can answer 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. Even if your question isn’t related specifically to a part of the process they’re handling – ask! 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.
Liaison with multiple parties
A real estate transaction is time consuming. You have to be responsible for communicating with multiple parties at various stages of the process. Your TC will serve as your liaison between you and the buyer, the buyer’s agent, the title company, the escrow agent and so on. That means you get to delegate the tedious task of managing back and forth communications and you have one point of contact who will keep you in the loop on all important updates and progress.
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