There are quite a few! First, hiring a Transaction Coordinator will free up a good amount of time and will allow you to limit interruptions, once a deal goes under contract. Your Transaction Coordinator will take over the transaction process, which includes the review of contracts for compliance, liaising communication between all parties, taking care of all deadline-actions throughout the process, and more. This saves you time and allows you to move onto the next client and grow your business. 

Working with clients that are in a hurry to find a new home, or putting out fires with your seller’s new listing- that is supposed to go live next week; you need to make sure that you are not missing out on deadlines or details of your current contracts. Your Transaction Coordinator will ensure that all deadlines are met, consults you when an issue appears, and helps you track all the little details of your transactions, so that your clients are experiencing a smooth transaction and are able to close in time.

In a nutshell, your Transaction Coordinator is there to assist you, while alleviating any issues that may arise. By doing so, this will allow you to focus on sealing the deal. Let someone else handle the time-consuming and repetitive administrative tasks for each of your transactions. Afterall, what really matters is building relationships and providing an exceptional client experience.

Here is a list of duties that your Transaction Coordinator may assist you with:

You could hire an in-house Transaction Coordinator, but that comes with the need of constant training, mentoring, and making sure you are compliant – which makes you a HR person. Having an in-house Transaction Coordinator can be beneficial if you own a big agency that has multiple brokers and new contracts coming in regularly. If you are not quite there yet, or if you need someone who can take on the contract overflow in the Spring/Summer months, then consider hiring an independent Transaction Coordinator. The benefit of an independent Transaction Coordinator is that you only pay when you have a client under contract and if the contract closes. This makes your costs and income more predictable, also, you don’t have to pay your in-house Transaction Coordinator if you have a bad month with contracts that didn’t close on time. A tip for selecting your Transaction Coordinator: To have the best experience for your clients and smoothest transaction process, it might help selecting a Transaction Coordinator that is real estate licensed, knows the in-and outs of the real estate contracts, laws and the local market.

The price range for an independent Transaction Coordinator is between $300-$500 per transaction depending on the market and services offered. Most Transaction Coordinators only get paid when the contract closes, which means that you owe nothing upfront and don’t lose any money if your contract doesn’t go through.

Our goal at Transactive is to provide exceptional transaction coordination services for real estate professionals. We hold ourselves to the highest standards to ensure a smooth transaction and create an amazing buying/selling experience for your clients. We want to help you stay TransActive and grow your business instead of getting bogged down with repetitive paperwork and deadlines.