Transaction coordination is the vital work of finalizing and closing real estate sales deals.
Closing a real estate transaction involves many complex steps, from processing the mortgage, title work, and inspections to ensuring all the contracts are fulfilled. Transaction coordination manages these and related tasks.
In this post, we’ll explore real estate transaction coordination in depth in an interview with a transaction coordination industry veteran.
Let’s get started!
Interview With Lissie Wright – AgentUp’s VP of Transactions
Two weeks ago, we sat down with Lissie Wright, the new vice president of real estate transactions with AgentUp.
We hope our interview will help you better understand the value of transaction coordination in real estate.
You’ve been involved with the real estate industry for quite a while. How long have you been working as a transaction coordinator?
Yes, that is an interesting question! My family and I have been involved with the real estate industry for much of our lives.
My mom has been a licensed real estate agent for over 30 years. Her love and passion for the industry inspired me to get my real estate license.
Before obtaining my license, I assisted her and her business as a transaction coordinator for about two and a half years. I also owned a professional home-organizing company specializing in residential properties at that time.
Another touchpoint with the real estate industry is that my family moved 12 times as a child! Additionally, my parents have purchased and remodeled 6 other homes.
That said, I have been a licensed real estate agent since 2013 and have been doing transaction coordination since 2011!
As an agent, I managed all of my transactions while assisting my mom with all of her transactions. So, I’m a pretty seasoned real estate professional.
You recently joined AgentUp as Vice President of Transactions. Could you tell us about AgentUp’s vision and plans for transaction coordination services?
I am incredibly grateful to be part of the fantastic team at AgentUp.
Everyone is so gracious, kind, and open to new ideas for the future progress of this company.
Additionally, I love how we are a genuine team in every way. We all work together, and everyone brings their skills, extensive experience, and in-depth knowledge of the profession.
Getting to know this accomplished team is why I am 100% certain that AgentUp will continue to flourish and grow.
AgentUp’s vision for offering outstanding real estate services and marketing with highly skilled transaction coordinators, real estate assistants, and cutting-edge marketing technology and tools is inspiring and motivating.
Without question, much thought and effort went into founding this company. Its values, products, and services are the best I’ve worked with in my long career.
I joined this team in January of this year, and Portia, another seasoned transaction coordination leader, was hired at the same time. Portia has been a TC for many years and owns her own real estate service company, so she also brings a wealth of experience and knowledge.
That said, Portia and I are leading efforts to expand AgentUp’s real estate support services by deepening the education and training of our already highly skilled transaction coordinators and real estate assistants.
AgentUp has spent a decade building an outstanding team of virtual assistants, and Portia and I are privileged to sharpen all its members’ skills further.
I’m confident that we have the best team with the most extensive knowledge of the industry and the US real estate market.
Is there anything unique about AgentUp’s transaction coordination team?
Two things stand out most about AgentUp’s team of transaction coordinators and real estate assistants: each member’s superb people skills and the depth and breadth of their industry knowledge.
First and foremost, everyone on our team is a “people” person. What do I mean by this? Any agent who works with us will receive excellent attention to detail and top-notch, caring service. Our TCs and VAs truly know how real estate marketing and sales function and sincerely care for everyone they work with.
The second thing that stands out about the AgentUp team of transaction coordinators and real estate assistants is their mastery of how the US real estate market functions and the necessary tasks and processes that lead to success.
If you don’t mind, allow me to boast for a moment. Portia and I have over 20 years of experience in transaction coordination.
Portia has worked in attorney and title states and has regularly managed over 40 monthly transactions across four states. She’s fantastic and knows the industry better than almost anyone.
Additionally, I am still a licensed real estate salesperson and have managed over 100+ transactions a month in 18 states across the US, in both attorney and title states.
When you add that to the extensive experience of our team members, well, I’m not sure anyone could beat that level of collective expertise!
Can you describe what a day as a transaction coordinator looks like for you?
A typical day is very busy! As transaction coordinators, we handle an agent’s marketing and CRM management, as well as all of their communications with current buyers or sellers, other agents, all parties involved in current transactions, and timelines according to active contracts.
Our role as a TC is vital to our hiring agent or brokerage’s success from many different angles. While all the aforementioned tasks are critical, marketing and CRM management may not necessarily be daily tasks.
Communication, making sure all parties adhere to timelines outlined within the contract, acquiring necessary documentation, sending documentation for signatures, and such really encompass a TC’s day. It is also important to note that a TC is likely to be working on many, many contracts daily.
We rely on a project management software system called Paperless Pipeline to ensure that nothing is missed or overlooked. Depending on how many sales we are closing, we might be looking at up to 300+ tasks in any given month or more!
Given your experience, what skills and talents do you think transaction coordinators need most?
I think a transaction coordinator’s two most essential skills are attention to detail and excellent communication skills.
First, a TC/VA needs attention to detail to fully navigate a contract and adhere to its specifics, especially dates and deadlines.
Second, they need to track a transaction’s progress, regularly and effectively communicate details, dates, and deadlines to all the appropriate parties, and provide constant follow-up to ensure that all terms are met according to the contract.
And I’m happy to tell you that AgentUp’s TCs and VAs possess those skills and talents.
Finally, what would you tell a brokerage or real estate sales agent to look for in a transaction coordinator?
To answer the question, I’d refer back to my last answer. A broker or real estate agent looking for a transaction coordinator or assistant wants to ensure they partner with someone with excellent attention to detail and outstanding communication skills.
Those two qualities put together spell success in real estate transactions. Work with AgentUp, and you’ll find that all our team members excel in those skills and many more!
AgentUp’s Transaction Coordination Services
Trust AgentUp to help you find the perfect TC or VA for you and your real estate business.
AgentUp has a team of highly trained virtual transaction coordinators ready to handle your transactions so you can stay on track.
Our transaction coordinators understand the US real estate market and undergo detailed training covering all facets of the real estate business, including contracts, inspections, title work, and closings.
Even though our website has all the information on our transaction coordination services, we’d still prefer to talk with you personally to truly learn about your business needs.
So, schedule a free call today. We won’t pressure you. We’ll walk you through the process, cover all the details, listen to your needs, and explain the costs.
A Complete Real Estate Marketing Partner
But that’s not all. AgentUp offers more than virtual transaction coordinators and real estate assistants. We can provide everything you need to market your listings and agent services.
You’ll be amazed at the quality of our products and services, how affordable these marketing solutions are, and how fast the turnaround times are.
Do yourself a favor. Take a look at all we offer, including the following:
- Real estate photo editing
- Virtual staging
- Virtual tours
- Single property websites
- Custom house portraits
Take the first step to business growth today.
Sign up for a free AgentUp account and let us help you expand your business.
We appreciate your taking the time to read this article and hope it helped you better understand transaction coordination in real estate. If you liked this post, take a look at these other related articles:
