Real estate transactions are full of complex documents that vary by city and local, state and federal laws influence it. That’s the reason why home sellers often decide to use an agent to manage their sale, but doing so is very expensive. In fact, the average commission of an existing agent is 3% of the total sale price of your home. This can mean thousands of dollars in fees for the average home seller.
Transaction coordinators are real estate professionals who are responsible for all paperwork. Moreover, for delivery times involved in a real estate transaction. They are trained at every step of the sale and have the task of monitoring progress from the moment a seller accepts an offer through the steps involved in closing the deposit.
The thing you may not know is that even agents hire transaction coordinators (TCs) to help them manage the documents related to the sale. You may also not know that the vendors themselves can hire a transaction coordinator for one low fee without resorting to an agent. Using a transaction coordinator gives sellers the opportunity to get all the help they need to sell their house with confidence, at a fraction of the cost of an existing agent.
Duties of Transaction Coordinator
One of the first things a coordinator will do to close a contract is to collect and deliver earnest money to the buyer. They also get the name and escrow number and make sure to give it to everyone who needs to know.
Whether it’s buyer inspections and evaluations for the buyer or a handyman for the seller, TC facilitates appointments with all the necessary vendors to ensure the right people arrive at the right place.
The papers involved in a transaction usually do not top the agent’s favorites. Good News? The transaction coordinator can take care of sending documents, checking their accuracy, and making sure they reach where they should be. Your broker will also be as happy as you are about it.
Most contracts are filled with emergency and expiration dates. Your transaction coordinator will track all of them and ensure that all “T” crossed, and you lose nothing until the formal closure. Forgot that gift for the closing? They can do it too.
Following Are the Reasons to Hire a Transaction Coordinator:
Want to reduce and control operating costs. You know you’re ready for the transaction coordinator, but you’re not prepared for the big expenses that a full-time employee can cost. You should not work hard to make payroll, try outsourcing.
Are you ready to improve your business focus. As a real estate agent, most of your business comes from references through communication, exploration, and farming efforts, not a fax machine or filing cabinet. However, your time is better spent on activities that generate business transactions.
Hire a Transaction Coordinator
You want the best for your customers. Outsourcing can provide access to high-level coordinators who have successfully handled thousands of transactions. Managing and hiring a full-time transaction coordinator is costly. Hiring a team of transaction coordinators with the experience of years is beyond the capabilities of most companies. Reaching these coordinators through the outsourcing of the TwinCities TC online closure team is possible for everyone.
You would like to devote more time to other passions you have, such as volunteering. Many of our clients devote time regularly to various meetings and volunteering in local agencies. In addition to giving back to their communities, their business has grown through these activities. Having TC on your team gives you more time to serve in your community.
You want to free resources for other purposes. By controlling costs and, most importantly, the time connected with managing a transaction, your resources can be used to increase marketing and the other income-generating activities.
The Reasons That Will Definitely Convince You to Hire a Transaction Coordinator :
You need help, but you don’t have time to train someone to do things the way you want. Hiring an assistant to help you is a great way to grow your business. However, most do not have the systems or training necessary for both parties to succeed. Hiring a transaction coordinator like our team of systems and expertise can save you time and money.
You are new to the business and know that you can use the help of an experienced coordinator to “guide you” in the process. The “School of Hard Knocks” is not always the best way to learn, especially when there is a lot of risk to its customers. Having someone else to guide you through the process can make a big difference in the results of most transactions.
Hire a Transaction Coordinator
You are looking for an advantage in the market. Your customers are technology experts, but you’re not sure how to bring more to your customers after the contract. Our transaction coordinators use a software program where all the invited participants can view the transaction and documents. This can save you lots of money by not having to buy expensive software or invest the time it takes to customize and learn something new.
Spending too much time only on administrative tasks or the long-time you spend waiting for a fax or call-back reduces your results. Ask someone else to deal with these items and increase your hourly rate immediately.
Would you like a holiday! There is nothing wrong or selfish about spending time for yourself; in fact, it is good for the soul and may increase your productivity. However, spending time without adequate coverage is fatal in any business. Having a transaction coordinator in your team can make it very easy to spend a day, two, or a week.
Conclusion
Transaction Coordination is becoming very popular among agents as it gets them out from behind their computers and back in front of all the potential customers. After knowing the reasons to hire a Transaction Coordinator, you will most probably be convinced of hiring a transaction Coordinator. The best service is provided by TwinCities TC as they are very reliable and charge a reasonable amount of money.
