The General Responsibilities of a Transaction Coordinator in Real Estate
In the real estate field, agents get the most attention because they are the proverbial face of the industry. However, there are other professionals in the field that make transactions smooth and possible so the agent does not have to take on so much. This is exactly what transaction coordinators (TCs) do. If you go through a real estate agency to buy or sell a home, there is a good chance there is going to be a TC involved. Here's a look at how transaction coordinators help you during the home buying or selling process.
1. The transaction coordinator will handle arranging for property inspections.
Property inspections, assessments, and even surveying are ongoing happenings in the real estate field. The whole process of sourcing professionals to take care of these examinations, scheduling appointments, and then making payments for services rendered can take a lot of time. Real estate agents usually let the TC know what they need and the TC gets to work with taking care of everything. This helps the real estate agent focus on being available for their clients.
2. The transaction coordinator will draft, send, and assess documents.
The typical real estate transaction can involve quite an impressive amount of paperwork. While real estate agents are more fitted for working directly with clients, it does tend to be the TC who is handling the paperwork in the background. For example, if a seller commits to allowing an agent to handle the marketing of their property, the TC will draft a contract that both the seller and agent have to review, sign, and return. The TC will make sure this documentation is properly handled and reviewed, as well as take care of the proper filing of the contract so it can be recollected as needed later on.
3. The transaction coordinator may handle the scheduling of meetings and showings.
Some real estate agents do handle their own appointments and meetings, but some are extremely busy and need a bit of extra help. In these cases, a TC will be the person working behind the scenes to arrange the agent's meetings and schedule. For example, if the agent has found a list of homes to look at for a buyer they are working with as a client, they would give their list of homes to the TC who would then work with sellers to arrange good times for showings.