What is a transaction coordinator?

You may be wondering, what exactly is a transaction coordinator and what do they do? As an agent, is this something I need? How would it help my business? Let’s dive into some of the basics below.

A transaction coordinator is typically someone in the real estate industry, licensed or unlicensed, who assists agents with the tedious details of the pre-listing or contract-to-close parts of the transaction.

Examples of some tasks transaction coordinators take off an agents plate are:

• Opening title/escrow

• Checking all paperwork for accuracy, missing signatures or initials

• Distributing executed paperwork to all parties

• Ordering home warranties and surveys

• Submitting compliance paperwork to brokerages

• Scheduling inspections and other vendors

• Scheduling closing

• And much more

On average, transaction coordinators spend 12+ hours on each transaction. That’s 12 hours you get back for prospecting, marketing, working on your systems or just taking a break! For contract-to-close services, transaction coordinators are usually paid when (and if) the property closes, so we only get paid if you do!