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Real estate transactions are often complex and time-consuming.
Much like a juggler in a circus, a typical realtor will be “spinning many plates.” They are expected to create lists for real estate sales, show properties to potential buyers, facilitate negotiations, and oversee the entire sales process from contract to closure.
Moreover, real estate agents have to perform a slew of administrative tasks, like preparing purchase documents, all while staying organized at all times.
To that end, a typical agent has enough on his plate to keep him busy for ten days a week. Yet, some agents are always out there building quality contact lists and acquiring new leads. So how do they reconcile these two priorities?
Well, by hiring a transaction coordinator—a trained professional who assists real estate agents by performing the administrative duties required at each stage of the sales process. But is hiring a transaction coordinator worth it? Here’s how hiring a TC can help boost your real estate career.
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A TC Will Ensure Nothing Falls Through the Cracks
Your transaction coordinator will keep every little detail in check ensuring all tasks are flawlessly performed and on time. They will ensure repair requests are always sent out before the deadline, the earnest money is always deposited on time, and purchase documents are filled out correctly and with all the required documents.
Transaction coordinators are able to achieve this level of accuracy because they don’t rely on paper checklists and ad-hoc systems.a typical agent has enough on his plate to keep him busy for ten days a week. Yet, some agents are always out there building quality contact lists and acquiring new leads. So how do they reconcile these two priorities?Click To Tweet
Instead, they leverage powerful transaction coordinator software to create custom automated checklists for each real estate transaction.
For example, an automated checklist from Paperless Pipeline lets you see which transactions are missing important documents while allowing you to automatically track your transaction due dates so you’ll never miss a deadline. With such checklists, TCs can coordinate every step of the real estate transaction and ensure every requirement is properly fulfilled with no room for errors.
A TC Will Handle all the Time-Consuming Tasks
A single real estate deal involves a lot of paperwork and administrative tasks. Managing these tasks is often time-consuming and can bar you from performing important tasks, such as prospecting for new leads.
The good thing about hiring a transaction coordinator is that they will take care of all administrative tasks, giving you more time to focus on:
- Building fruitful relationships
- Providing exceptional customer service
- Nurturing leads
- Spending time with family and friends
With a TC managing the office tasks, you’ll also have enough time to network, build an extensive contact list, and polish your marketing tactics.
3. A TC Will Serve as Liaison with Different Parties Involved in a Real Estate Transaction
A single real estate transaction involves interacting with many parties—lawyers, bankers, home inspectors, escrow agents, title insurance companies, etc. Dealing with all these parties can be time-consuming.
That said, hiring a transaction coordinator with impeccable communication skills can help you close more deals, faster, and flawlessly.
Your TC will act as the liaison between you and the buyer and other parties involved in the transaction process. That means you’ll entrust all the communication to a professional who will free your time and keep you in the loop on all important updates and progress.
What are your thoughts on the role of a transaction coordinator in a real estate brokerage? Share with us in the comments section below.