Table of Contents
- The Role of a Real Estate Transaction Coordinator
- Statistics on the Advantages of Working With a TC
- Real Estate Transaction Coordinator FAQs
- AgentUp Is Your Source for Transaction Coordinators
Transaction coordinators are often overlooked in the real estate industry, with all the attention given to the broker or agent.
A transaction coordinator offers a valuable service by managing the complex closing process of real estate sales. There are many steps from contract to closing, including communication and skilled attention to detail.
By handling all closing details, transaction coordinators allow sales agents to focus on client relationships and finding new sales.
This article will highlight the advantages of working with a transaction coordinator and offer supporting statistics.
But first, let’s ensure we understand the transaction coordinator’s role.
The Role of a Real Estate Transaction Coordinator
A transaction coordinator (TC) partners with a real estate agent to close contracted real estate deals. Managing a real estate transaction from contract acceptance to closing requires performing multiple overlapping tasks.
To reach closing, transaction coordinators routinely provide the following services:
- Document Preparation and Compliance: Assembling the contracts, disclosures, and other paperwork and reviewing them to ensure compliance
- Time Line Management: A TC assesses the contractual deadlines and monitors the closing process to keep the transaction on time and track
- Coordinate Inspections: Home inspections are a common feature of real estate sales. The TC schedules the inspection and shares the report with all parties
- Proactive Problem-Solving: A skilled TC can proactively identify and address potential issues, saving agents time and preventing delays
- Centralized Communication: The TC serves as information-central, communicating effectively with clients, vendors, and other stakeholders, building strong relationships and fostering trust
- Post-Closing: After closing, a TC can solicit client reviews, coordinate closing gifts, and provide final closing documents to all parties
Moreover, transaction coordinators often bring specialized knowledge of the transaction process, knowing how to increase productivity while ensuring compliance with regulations.
Understanding all the tasks a TC performs illuminates the advantages of partnering with one. Let’s explore those advantages further and examine some statistics that confirm them.
Market Leading
Real Estate Transaction Coordinators
Hand off your transactions, media, and marketing to a real estate TC.
Statistics on the Advantages of Working With a TC
The primary advantage for a real estate agent working with a transaction coordinator is the time savings.
Industry research shows that an agent spends around 20 hours closing a real estate transaction. That’s half a work week spent on paperwork, emails, phone calls, and deadline tracking.
Every agent knows that those 20 hours could be better spent focusing on revenue-generating activities, such as building client relationships, marketing and advertising, and networking and prospecting.
The statistics support those assumptions. Let’s examine some numbers that show the advantages of working with a transaction coordinator.
To illustrate the above points, consider the following statistics:
- 98% of agents working with a transaction coordinator close more transactions per month compared to those who don’t work with one
- 50% of the nation’s leading real estate brokerages employ TCs to lower costs and save time
- Agents regularly working with a TC see a 25% improvement in productivity
- 95% of buyers and sellers claimed to have had positive experiences working with a TC
- On average, real estate transaction coordinators reduce the risk of errors by 80%, saving time and money by reducing the need for rework
- 70% of agents who hired a real estate TC reported increased revenue within the first year
But the above statistics aren’t the end of the story. There are more numbers showing the benefits for brokers and agents working with transaction coordinators.
Go ahead and take a look at these additional statistics:
- 34% of real estate agents worked with a full-time transaction coordinator in 2023
- 30% faster on average), improved efficiency
- Agents working with a TC for more than 6 months see an average 20% increase in sales
- 33% of real estate agents say a TC is better than using transaction management software
It’s no secret that increased sales volume usually means more revenue in real estate. And even a part-time TC can help you improve your bottom line.
A transaction coordinator is a wise business investment that can improve operations, increase efficiency, and elevate overall business performance.
Real Estate Transaction Coordinator FAQs
Q. How easy is hiring a real estate transaction coordinator, and what does it cost?
A. You’ll be surprised how easy and fast it is to hire a real estate TC.
AgentUp can have you working with a qualified TC by the next day. We listen to your specific business needs and match you with the right TC. Also, we make onboarding simple and quick.
In terms of costs, check out our prices for a part-time or full-time real estate transaction coordinator.
We also offer per-file transaction coordinator services for $299.
Q. What if I don’t have enough work to keep my TC busy?
A. First, AgentUp offers part-time and full-time transaction coordinators, and you can change hours depending on your workload.
Second, our real estate transaction coordinators are trained to manage more than just transactions. They are also skilled real estate marketing specialists who can manage your marketing projects when not working on getting a file to closing.
Think of the many benefits of having someone oversee your social media posts, blogging, website updates, etc.
Q. How easy is it to manage a virtual transaction coordinator?
A. It is relatively easy to manage a virtual TC. Today’s technology allows for effortless integration into your workflow.
Managing a virtual real estate TC is as simple as sending an email, using a chat platform, or holding a quick Zoom meeting.
Additionally, our transaction coordinators are experienced in US real estate sales and know exactly what to do without much prompting or supervision.
Now that you know the advantages of working with a TC, you may have one last question: Where can you hire an experienced and well-trained one? We know just the source.
Market Leading
Real Estate Transaction Coordinators
Hand off your transactions, media, and marketing to a real estate TC.
AgentUp Is Your Source for Transaction Coordinators
AgentUp has the industry’s best-trained transaction coordinators. They will handle the details of the closing process, freeing you to devote time to what matters most: building your business.
More importantly, our US support staff remains ready to answer your questions and help with any details.
Schedule a free consultation call today, and we can discuss the best and most affordable options for your real estate business.
The call lasts around 15 minutes, and we won’t engage in high-pressure sales tactics.
So, talk to us! You’ll be glad you did.
Finally, let us share one more AgentUp advantage with you.
Hire a Transaction Coordinator Who Is Also a Marketing Specialist
AgentUp’s transaction coordinators are more than just real estate closing experts; they’re trained marketers who excel at managing your business promotions, social media outreach, and other marketing initiatives.
They will help market your listings and promote your services when they are not working on transaction management tasks. An added bonus is that they have the latest digital marketing tools at their fingertips:
- Virtual tours
- Property websites
- Home flyers
- House portraits
- Real estate photo editing
- And virtual staging AI
With AgentUp, you get an experienced TC who can manage your closings while helping your marketing efforts to find more deals!
We have the resources to take your real estate business to the next level.
Sign up for a free AgentUp account today!
Creating an account will allow you to browse everything we offer to support your business. It’s free, requires no commitment, and takes less than a minute.
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We hope you enjoyed this article on the advantages of working with a transaction coordinator backed by statistics. Also, feel free to explore these other related resources:
