TRANSACTION COORDINATION

The Real Estate Industry Is HOT.

In Colorado and across the US, real estate is a busy, booming industry. Real estate offices are growing larger and at the same time, transaction documents are becoming more complex.

This is when a transaction coordinator becomes useful.

What is a Transaction Coordinator?

A transaction coordinator can coordinate the entire transaction process, including paperwork, communication with clients, and more.

This position is nothing new in the real estate world, but it has become more essential as the world has become more and more complex with new rules and regulations.

In fact, realtors used to hire assistants to do these tasks, and they would get paid by the hour whether they had anything to do or not.

Most transaction coordinators on the other hand charge for each successful transaction their client makes instead of hourly, and there's no charge at all if a contract with your client fails.

What does a Transaction Coordinator do?

A transaction coordinator will update your clients about the calls and emails concerning where you're at in the closing process. The job of a transaction coordinator is centered on multitasking.

Here are some of the things that a transaction coordinator can do on your behalf:

Create a customized closing checklist to ensure deadline compliance

Do a full review of all contract documents to make sure that you're in compliance

Keep everyone up to date on new changes

Assist with signing around/client signatures on documentation required throughout the purchase/sale process

Remind agents of changes and how to stay in compliance

Susan and her team can also be contracted for additional a la carte services such as obtaining client reviews through Zillow or Google, updating your SOLD listings profile in Zillow and other tasks as needed.

How a Transaction Coordinator Operates

One of the main tools in a transaction coordinators toolbox is a CRM (customer relationship management) program.

With the CRM, a transaction coordinator, you, and your clients can all do the following:

Everyone involved can access their transaction through the CRM program.

Organize all documents, appointments, tasks and scheduling.

Online transaction management (OTM)

In this technology rich day and age, having transaction details online lets the transaction coordinator easily coordinate with all parties of a transaction including the title company, vendors, co-op agent, buyers and sellers.

Out of town buyers and sellers can access their account and view details whenever they want, cutting down on phone calls and emails

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