The term "Transaction Coordinator (TC)" is being heard more and more during real estate transactions (yay!) but since the job description is pretty broad, there are a few assumptions made about the role. We attempt to set the record straight below by busting the Top 5 Myths about Transaction Coordinators.
Myth #1 - They're like an assistant
An assistant is there for YOU but a TC is there for the TRANSACTION.
It's that time of year again! The California Association of Realtors has just released their latest batch of new forms and has made some IMPORTANT changes to some existing forms too! Check out our breakdown below:
There is a common misconception that your TC takes over once you've opened escrow. However, including your TC in your file as soon as that Listing Contract is signed, could help save HOURS of your time.
You're already working to prepare and promote your new listing, so the last thing you're worried about is paperwork on a file that's not even in escrow yet.
Below are the things you (or your TC) should handl...
When it's your first time writing up an offer for a client, or you have a client that has you writing up offer #74,802,9103, it's easy to only focus on the purchase agreement and lose sight of other items you could or SHOULD be including in your paperwork that give you and your client that extra edge.
Here is a breakdown of the bare minimum when it comes to offer paperwork:
The average real estate agent will tell you they've "seen it all", but even seasoned Realtors will run screaming at the sound of these scary statements. Can you make it through this list without cringing?
"Well, Zillow says..."
"The underwriter has asked for a few more additional items"
"The buyer would like a mold inspection"
"My client is out of the country for the rest of the transaction"
We get it. Your inbox is a nightmare. You have notifications from your lead generating sites, reminders from your CRM database, offers on your listing, showing requests from Buyers, alerts from real estate market sites and the list is endless. Most agents avoid their inbox entirely because it looks like this:
Fear no more! We have a quick and effective solution to help you never miss another important email...
A fine-tuned work flow created between you and your TC can result in more time for lead generating & money making tasks as well as increased customer satisfaction & client referrals. Of course, the opposite effect would take place if you and your TC aren't in sync or even a good match. One of the best ways to make sure "it's not you" is to follow the steps in this beginner's guide.