Table of Contents
- Who Pays the Transaction Coordinator Fee?
- Trust AgentUp’s Transaction Coordinator Services
- Why Choose AgentUp?
Transaction coordinators monitor and shepherd contracted real estate sales to closing.
Signing a real estate sales contract kicks off inspections, title work, surveys, appraisal, and more – all necessary steps to get to closing.
Transaction coordinators (TCs) manage that process, scheduling each step, communicating with all parties, and ensuring legal compliance.
However, a common question in real estate sales is, who pays the transaction coordinator’s fee?
So, in this article, we will answer the question of who pays the transaction coordinator for their services.
Who Pays the Transaction Coordinator Fee?
A transaction coordinator is a professional who manages a real estate transaction’s administrative and paperwork aspects.
Their role involves coordinating communication between parties, tracking deadlines, and ensuring all necessary documents are completed and submitted on time.
Who should pay for a TC in a real estate transaction is contextual, and there is no definitive answer that applies to every situation.
The answer largely rests on how the various contracts were written between agents, clients, and the transaction coordinator.
The cost typically falls on one of the agents. Still, the specific arrangement can vary based on several factors, including the nature of the transaction, the role of the TC, and the customary practices in a particular region.
Let’s examine a few scenarios where different parties pay the transaction coordinator’s fee.
1. One of the Agents Pays the Transaction Coordinator Fee
Typically, a real estate agent hires a transaction coordinator to help streamline their workload. Some agents have dedicated TCs, while others use per-file TC services. This is the most common arrangement for compensating a transaction coordinator.
The payment structure can take one of the following forms:
- A flat fee paid by an agent at the time of closing
- Some percentage of the agent’s overall commission
- Mixed compensation agreement – a small flat fee plus a percentage of the commission
Therefore, in most instances, one of the agents involved in the transaction will pay the TC.
There could also be a scenario where both agents have and work with their own transaction coordinator. This means that in some sales, two transaction coordinators are working together.
This arrangement isn’t a problem. Transaction coordinators are used to working with one another. In such circumstances, each TC would handle the steps and aspects of the sale for which their specific agent is responsible.
Finally, while not common, the transaction coordinator could be a salaried employee of the brokerage or agent. In such a case, the agent still pays for the TC services.
Overall, by investing in a TC, agents can improve efficiency, reduce stress, and potentially increase their overall productivity.
2. The Seller Pays the Transaction Coordinator
While less common, there are instances where the seller agrees to pay for the transaction coordinator’s services. The money will come from the seller’s sale proceeds and be counted toward closing costs.
This arrangement may be particularly attractive to sellers in a competitive market who want to differentiate their listing and provide additional value to potential buyers.
Sellers can demonstrate their commitment to a smooth and efficient transaction process by offering a TC.
In these cases, the listing agent usually secures and supervises the transaction coordinator, who will likely receive their payment at or just after closing.
There are still other possible arrangements for paying the TC. Let’s briefly look at a few of them.
3. Who Pays the Transaction Coordinator Fee – Other Scenarios
Since all the costs involved in a real estate sale are negotiable, there are many other scenarios for how and by whom the transaction coordinator will be paid.
These arrangements could include some of the following possibilities:
- Agents could agree to split the costs of the transaction coordinator
- The buyer could agree to pay for the TC either directly or using seller concessions
- Hybrid solutions are also possible where some or all of the parties agree to share the cost of the TC
Ultimately, who pays for a transaction coordinator is a business decision that should be based on the specific needs and goals of the agent and seller. Local market customs will also play a role in these situations.
Now you understand the various ways to pay for the transaction coordinator. However, our discussion naturally raises another question: Where can you find quality transaction coordinators and TC services?
Let’s answer that question.
Market Leading
Real Estate Virtual Assistants
Hand off your transactions, media, and marketing to a real estate VA.
Trust AgentUp’s Transaction Coordinator Services
AgentUp offers high-quality, affordable real estate transaction services. All of our TCs receive rigorous technical training and go through a 40-hour class on the real estate sales process.
Depending on your needs, you can take advantage of our transaction coordinator services in one of two ways.
1. A Dedicated Part-Time or Full-Time TC
With over a decade in the industry, AgentUp has cultivated a network of expertly trained real estate transaction coordinators who are savvy, fluent in English, and adept at handling time zone differences.
Depending on your business needs and sales volume, you can hire a dedicated virtual transaction coordinator full-time or part-time.
There are several advantages to working with a dedicated TC, including the following:
Deep Understanding of Your Business: A dedicated transaction coordinator becomes intimately familiar with your specific processes, preferences, and compliance requirements.
Stronger Client Relationships: A dedicated coordinator builds rapport with your clients, fostering trust and loyalty. Offering a trusted service can lead to increased referrals and repeat business.
Consistent Service: A dedicated coordinator provides uninterrupted support throughout the transaction, ensuring a smooth and seamless process.
Improved Communication: A dedicated coordinator is always available to answer questions and address concerns, leading to better communication and fewer misunderstandings.
Greater Control: With a dedicated coordinator, you have direct control over their workload and can monitor each transaction carefully and whenever you want.
The above are all solid reasons for working with a dedicated transaction coordinator who will get to know you, your business needs, and your specific processes.
2. Per File Transaction Coordinator Services
AgentUp’s per-file transaction coordination service offers a flexible and cost-effective solution for real estate agents with lower sales volume or sporadic sales.
Agents can avoid the overhead costs of hiring a transaction coordinator by paying only for the transactions they need assistance with.
This is particularly beneficial for agents who experience seasonal fluctuations in business or are just starting their careers.
Here’s how AgentUp per-file transaction services work:
- Upload all your contracts and paperwork
- Provide any instructions or specific needs
- Receive regular communication updates from AgentUp
- Monitor the status of the transaction anytime you want
A per-file transaction coordination service offers a convenient and scalable solution. During slower periods, agents can access support without worrying about paying for services.
This flexibility ensures that agents can maintain a high level of service for their clients, even when their workload is unpredictable.
3. We Can Help You Decide Which Is Best
AgentUp doesn’t want to be a faceless website from which you occasionally order services. We want to get to know you, your business, and your specific needs.
So, let’s talk. We offer free, 15-minute telephone consultations. There’s no commitment; we won’t pressure you or engage in sales gimmicks.
Here’s what we usually discuss during a consultation call:
- We’ll get to know your business – what’s your sales volume, and in what areas could you use additional support?
- Our services and process – we don’t believe in one-size-fits-all services, so we’ll help you determine your best options
- Return on investment – we’ll cover our prices and help you create the most affordable service options, thereby ensuring you get the best return on your investment
So, don’t be shy. Give us a call.
Schedule a free consultation call today!
Let us help you streamline your sales process and take steps toward growing your business.
Market Leading
Real Estate Virtual Assistants
Hand off your transactions, media, and marketing to a real estate VA.
Why Choose AgentUp?
AgentUp wants to be your partner for success. Our staff includes several licensed real estate professionals, so we deeply understand this business and how it works.
Further, we offer more than transaction coordination services. We’re a full-service real estate marketing company that creates its own marketing tools and solutions.
We have everything you need to support and expand your business.
Finally, consider the following reasons for choosing us as your partner for success:
Easy to Use Website & Ordering—AgentUp is easy to work with. Our website is user-friendly, and we make it easy to upload assets and place orders quickly.
Affordable Pricing— Our competitive prices are hard to beat, especially for the quality of our products and services.
US-Based Customer Support—While we’re a global company, our customer support team is US-based and is available 24 hours a day, six days a week.
We’re a Recognized and Trusted Company – AgentUp is known across the real estate industry as a marketing and agent services leader. Our company has been featured on NBC, Fox News, USA Today, and CBS.
You owe it to yourself to explore what we offer.
Try transaction coordination today and save $50 on your first order.
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