Understanding the Role of (and Quintessential Need for) a Transaction Coordinator

A Transaction Coordinator plays a large role in the real estate world. Having a TC on your team could make or break the type of services you provide to your clients, as well as others you are working with for the duration of a transaction.

The most important reason for adding a TC to your team would be ensuring that all the required documents and paperwork are signed, completed, and delivered to the appropriate parties with utmost accuracy and efficiency. We’ll go into detail below, and cover some of the top reasons having a TC would be beneficial for ANY real estate team.

● Timeline Management:  there are a number of important dates and deadlines involved in a real estate transaction. A TC would ensure these deadlines do not pass without proper documentation and signatures, and that these documents are delivered to ALL necessary parties involved.

● Appointment Scheduling:  on both the buyer and seller side of a transaction, appointments like inspections, final walk-throughs, and closing times need to be scheduled in order to make the flow of the transaction smoother for everyone. A TC would ensure all appointments are scheduled, and are then communicated to everyone involved; which leads to our next point…

● Effective Communication:  communication is one of the MOST important aspects of the transaction. Making sure that all parties are informed and updated throughout the duration of the transaction is KEY!! If at any point, someone is unsure of what’s happening, a TC should be able to communicate all updates to each person involved in the transaction.

● Document Review:  PAPERWORK – Everyone’s least favorite part of a transaction.  However, it’s probably the most IMPORTANT! A TC would make sure every piece of REQUIRED paperwork has been signed and dated by all parties, and delivered to all parties in a timely manner.

● Compliance Management:  the last step (aside from getting to the closing table) is ensuring that all paperwork required by a brokerage is submitted for compliance (which ultimately leads to approval for payment). Most brokerages have a checklist of these compliance documents that a TC would follow and submit on your behalf. All of these items are incredibly crucial during a real estate transaction, and the main thing to remember about all of these items, is that they will save you TIME!!! Time that you can spend making calls, showing more homes, and being more involved with your clients. It allows you the time to focus on getting your clients to the finish line, without having to worry about the day to day details of the transaction, and whether or not they’re being handled. I hope this has shed some light on the role of a Transaction Coordinator, and the importance of their involvement.

If you’re ever in the market for a TC, please feel free to contact Muletown TC, at 803.942.0967, for all your Real Estate Transaction Coordinator needs.