{"id":15503,"date":"2020-05-05T15:15:00","date_gmt":"2020-05-05T22:15:00","guid":{"rendered":"http:\/\/www.roryc.ca\/blog\/?p=15503"},"modified":"2020-04-23T11:21:01","modified_gmt":"2020-04-23T18:21:01","slug":"transaction-coordinator-for-real-estate","status":"publish","type":"post","link":"https:\/\/www.roryc.ca\/blog\/2020\/05\/transaction-coordinator-for-real-estate\/","title":{"rendered":"Transaction Coordinator for Real Estate"},"content":{"rendered":"<p style=\"text-align: justify;\">Let\u2019s face it! Closing a real estate deal is a long, tedious, process that involves a lot of paperwork and agent\u2019s time.<\/p>\n<p style=\"text-align: justify;\">Ask a broker or real estate agent to name the favorite part of their job and you\u2019ll hear something along the lines of \u201chandling a buyer the keys\u201d or \u201csigning the closing papers.\u201d Rarely will you hear them say, \u201cCoordinating every detail from origination to closure.\u201d<\/p>\n<p style=\"text-align: justify;\">Sure, it\u2019s what they do most of the time, but not exactly the glamorous part of the job.<\/p>\n<p style=\"text-align: justify;\">If you\u2019re ready to get your business in front of potential customers, you don\u2019t want to be stuck behind your desk organizing paperwork and getting rid of clutter. Rather, you should consider hiring a transaction coordinator.<\/p>\n<p style=\"text-align: justify;\"><strong>What is a Transaction Coordinator?<\/strong><\/p>\n<p style=\"text-align: justify;\">A transaction coordinator or TC is a real estate professional who oversees all aspects of buyer &amp; seller transactions, from execution to closure. They are conversant with each stage of the selling process and help to ease the burden off the broker\u2019s shoulder. The duties of a transaction coordinator include :<\/p>\n<p style=\"text-align: justify;\"><em>\u25fe Opening escrow<\/em><br \/>\n<em>\u25fe Liaising between the buyer, seller, agents, and various third parties<\/em><br \/>\n<em>\u25fe Overseeing inspections, repair negotiations, completion of repairs<\/em><br \/>\n<em>\u25fe Monitoring deadlines during the contingency period<\/em><br \/>\n<em>\u25fe Drafting addendums<\/em><br \/>\n<em>\u25fe Ensuring tax obligations are met<\/em><br \/>\n<em>\u25fe Ensuring loan underwriters have all the clearances and certificates needed<\/em><br \/>\n<em>\u25fe Reviewing the purchase agreement for completeness<\/em><br \/>\n<em>\u25fe Documenting communications among the parties<\/em><\/p>\n<p style=\"text-align: justify;\">At times, even real estate agents hire transaction coordinators to help manage these processes.<\/p>\n<p style=\"text-align: justify;\"><strong>Benefits of Hiring a Transaction Coordinator (TC)<\/strong><\/p>\n<p style=\"text-align: justify;\">When you hire a TC, you instantly get a trusted ally and a trained professional on your side. A transaction coordinator will oversee the nitty-gritty of every transaction and ensure nothing falls through the cracks\u2014earnest money is deposited on time, repair requests handled meticulously, purchase agreements always filled correctly and everything in between.<\/p>\n<p style=\"text-align: justify;\">To achieve this, transaction coordinators use coordination software that are designed to streamline workflow and manage all the transactions from a central place. The best software for transaction coordinators features automated checklists, dates, and reminders so transaction coordinators are able to send reminders and do more with just a click of a button.<\/p>\n<p style=\"text-align: justify;\">Another benefit of hiring a transaction coordinator is in time savings. Hiring a TC frees your time so you\u2019re able to focus more on building relationships and devising impactful marketing strategies. Moreover, hiring a TC is cost-effective; they are paid a low one-time fee as opposed to agents who are paid on commission.<\/p>\n<p style=\"text-align: justify;\"><strong>Do You Need a Transaction Coordinator?<\/strong><\/p>\n<p style=\"text-align: justify;\">Well, that depends on personal circumstances.<\/p>\n<p style=\"text-align: justify;\">If you know the drill\u2014have successfully closed many deals without a hitch, then you may not need to hire a TC\u2014unless you need an assistant to handle the office stuff so you can have enough time for prospecting and building rapport with your customers.<\/p>\n<p style=\"text-align: justify;\">However, if you\u2019re not very familiar with real estate processes, you may want to hire a transaction coordinator. Keep in mind that if you miss important details or fill out the paperwork incorrectly, your deal could fall apart, resulting in penalties and possible lawsuits.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/realtybiznews.com\/transaction-coordinator-for-real-estate-do-you-need-one\/98758434\/\" target=\"_blank\" rel=\"noopener noreferrer\">Transaction Coordinator for Real Estate : Do You Need One?<\/a> by Jamie Richardson | Realty Biz News<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Let\u2019s face it! Closing a real estate deal is a long, tedious, process that involves a lot of paperwork and agent\u2019s time. Ask a broker or real estate agent to &hellip; [<a href=\"https:\/\/www.roryc.ca\/blog\/2020\/05\/transaction-coordinator-for-real-estate\/\">read more<\/a>]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-15503","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Transaction Coordinator for Real Estate &#8226; Rory C Real Estate | Oakwyn Realty<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.roryc.ca\/blog\/2020\/05\/transaction-coordinator-for-real-estate\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Transaction Coordinator for Real Estate &#8226; Rory C Real Estate | Oakwyn Realty\" \/>\n<meta name=\"twitter:description\" content=\"Let\u2019s face it! 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