What Does a Real Estate Transaction Coordinator Do? And How Can They Help Your Growing Team
Running a real estate business can mean a significant source of income to a real estate agent. The firm continues to thrive as you market and win more clients into your pool. However, managing all the processes alone, especially transactions, can prove to be a nightmare. It will take a whole team of people to see the deal through, from the beginning to the end.
As an agent, a time will come when you need to bring a team of professionals such as real estate transaction coordinators aboard to help you accomplish the tasks. There are various ways such experts will help lessen the burden on you. Here are some of how a transaction coordinator real estate will help your team grow.
Opening an Escrow Account
Escrow comes into action the moment the buyer and the seller agree about the sale of a house as in the sales and purchase agreement. A transaction coordinator real estate helps open an escrow account that keeps the buyer’s money safe until the seller can access it at the closing of the deal. Opening this account can be tricky. Therefore, you will need a professional to handle this part of the process.
The transaction coordinator keeps a close eye on the account so that the money stays intact until the right time to release it on schedule. When closing the escrow account, the transaction coordinator audits all the documents to ensure that the paperwork is clear and the money is in the right place.
Plan and Schedule Inspections
The transaction coordinator real estate has the duty to plan and schedule property inspections on behalf of the realtor agent. They should also ensure that the review goes according to their schedule. They also ensure that the right people do the work.
If you are a real estate agent and want to grow your realtor team, but your schedule and the tasks are weighing you down, consider delegating some of the duties to your transaction coordinator. They will inspect, advise on any necessary repairs and supervise to meet deadlines.
Sharing of Documents
A transaction coordinator real estate can use a loop to share documents regardless of whether he creates the loop or the agent did. It works better if the coordinator is already introduced to the agent, which means he can share from the agent’s account and clients sign the documents to complete a transaction. The good thing is that they can share the documents either as themselves or on behalf of the agent.
However, the tracking shows that the transaction coordinator shared documents from the agent’s account when this happened. In addition, both the agent and the coordinator will get notifications when the client finishes with the papers.
Keeping the Agent on Track
Not having a solid team of professionals to handle various aspects of the real estate business means that one person, especially the agent, will take overwhelming responsibilities. If the agent has no experience, there is a chance that some things will go wrong. Therefore, hiring a transaction coordinator will help your growing team by taking up significant admin tasks allowing the agent to tackle the rest.
Considering these coordinators are professionals, you can be sure that the job will be perfect.
Grow Your Team with Transaction Coordinators
Working with a transaction coordinator in real estate has a significant impact on the success of any realtor agent. It would be best to find an expert coordinator who can lift part of the burden from your shoulders and help grow your team.