A real estate transaction is full of complicated paperwork. It can vary by the city and is impacted by local, state, and federal laws. That’s why home sellers usually decide to use an agent to manage their sale but doing that is outrageously costly. In fact, the average listing agent commission is about 3% of the total sale price of your house. That means thousands of dollars can be the fees for the average home seller. Read this article, to find out, What We Offer as a Transaction Coordinator?
Real Estate Transaction Coordinator
The Real Estate Transaction Coordinator is an outgoing person who draws energy from working with optimistic people. They have a sense of urgency, but not at the expense of quality. They understand that their priority is to provide exceptional customer service throughout the closing process, not only to customers but also to all parties involved. In addition, he demonstrates daily the knowledge, skills, attitudes, and habits of a high-performance employee who does the right thing to put his clients first and seek mutually beneficial agreements.
The real estate transaction coordinator must be adaptable and solution-oriented. He needs to manage the entire contract to-close process effectively and efficiently to ensure all transactions are closed on time. Also, he should make sure there is little or no inconvenience to customers and third parties. This individual must present a “can do” attitude and demonstrate initiative to solve problems. Furthermore, this transaction coordinator will be accountable to the Director of Operations daily.
Responsibilities of Real Estate Transaction Coordinator
Basically, a real estate transaction coordinator works as an intermediary. They are a link between real estate agents, clients, escrow companies, and mortgage brokers during a real estate transaction. The transaction coordinator, or TC, are the ones who assist the real estate agent by doing the administrative tasks at each and every stage of the transaction from contract to the closing. Realtors often employ Transaction Coordinators so that administrative tasks are managed more effectively. Their responsibilities are:
- Ensure that the required all signatures and initials are present on the contract.
- Provide copies of the contract to the buyer, other agents, seller, and lender.
- Make a summary sheet that contains the contact information of both parties, as well as the property address and photo.
- Create a web-based transaction management file for customers and agents with secure access so that they can monitor the transactions.
- Send e-mails on a weekly basis that show the transaction’s status, as well as informing the agent of future deadlines.
- Ensure that everyone involved is provided with all the necessary paperwork.
- Follow up with the escrow or title company on closing day.
- Remind agent to get in touch with the old customer thirty days after closing.
Our Transaction Coordinator will manage all the documents and will monitor all deadlines closely. We will rush a check to the escrow agency, send reminders to the buyers and their agents, even audit the closing process to make sure everything is done as planned. We, as a real estate transaction coordinator, have the thing you need to complete the sale, and that is industry experience. Moreover, the following things make us the best.
We Do Not Charge Any Hidden Fee
We are transparent and honest about our pricing and only get paid at closing. This no-fee guarantee indicates we only get paid once we complete the work. There are no up-front out of pocket expenses.
We Do Not Make Mistakes
We are specialists of real estate paperwork, and take a lot of pride in what we do. At Twin Cities, we check and double-check all paperwork and correspondence to make sure that there is no mistake and is of high-quality.
We Do Not Waste
Twin Cities tries to be as green as possible – we e-mail, and electronically sign all documents wherever possible. Not only does going paperless help save the environment, but it also helps save time.
Time is money and if you’re a Minnesota realtor. There are good chances that whenever you are buying or selling the house, a very short time will be available. Closing on a property feels great and pads the bank account, but it’s only one part of the job. Real estate agents are the one responsible for marketing, client care, prospecting, customer service and, last and most important, paperwork. Time-consuming and tiresome, paperwork is essential to all the real estate transactions – but is it necessary for you to do it yourself? Just as accountants file your taxes and mechanics fix your car, Transaction Coordinators take care of your real estate transaction paperwork so you can get out there and market your properties. The answer to “What We Offer as a Transaction Coordinator?” is we take care of all the boring stuff so you don’t have to.