Table of Contents
- The Case for Using a Virtual Transaction Coordinator
- 3 Secrets on Why to Use a Virtual Transaction Coordinator
- Hire a Virtual Transaction Coordinator With AgentUp
Virtual transaction coordinators are one of the real estate industry’s best-kept secrets.
Today’s technology makes virtual transaction coordination (TC) easy and cost-effective. Virtual workers are more productive and less expensive than their in-office counterparts.
As a result of these benefits, increasing numbers of brokerages and sales agents are choosing to work with virtual TCs.
This article explains this choice in detail and reveals 3 secrets as to why virtual real estate transaction coordinators are becoming so popular across the industry.
Are you ready to learn some secrets?
The Case for Using a Virtual Transaction Coordinator
Many brokers and agents start with the assumption that an in-office transaction coordinator is the best choice.
This assumption is often because many real estate professionals have never worked with a virtual employee. This lack of experience makes it hard for some to envision how such an arrangement might work.
Additionally, many brokers and agents worry that managing a virtual TC would be too difficult.
However, the truth is the opposite – virtual TCs are easy to manage and more efficient than their in-office counterparts.
Here are some key statistics that demonstrate this reality:
- Fewer office distractions cause virtual transaction coordinators to be 4.4% more productive than in-house TCs
- 50% of the highest sales volume real estate teams experience significant time savings with virtual TCs
- Real estate sales businesses that use virtual TCs report a 70% higher sales volume as a result
Due to the lower costs and time savings, virtual TCs have become a growing industry trend:
- Currently, 35% of all real estate transaction coordinators are virtual, and that number is expected to double by 2027
- In 2023, there were 12 million virtual real estate employees, many being transaction coordinators
Here’s one more advantage to using a virtual TC – you’re more likely to keep them:
- Virtual transaction coordinators are 55% less likely to switch jobs than in-house TCs
Think about the time and money you save not having to keep hiring and training new workers.
By going virtual, you’ll have a better selection of highly trained, experienced TCs. This is because the virtual worker pool is larger and more diverse than your local market.
Next, in more detail, let’s reveal 3 cost and time savings secrets of working with a virtual transaction coordinator.
3 Secrets on Why to Use a Virtual Transaction Coordinator
Every broker and sales agent understands that keeping costs low is essential for maintaining profitability.
Staffing is one of the most significant expenses for most real estate businesses, including the cost of transaction coordinators.
As mentioned above, virtual transaction coordinators are more efficient and less expensive than in-office TCs.
So, let’s explore the cost and time savings in more detail.
1. First Secret – A Virtual Transaction Coordinator Quickly Pays for Themselves
Our first secret is straightforward: The right virtual transaction coordinator will quickly pay for him or herself by increasing your productivity, leading to more sales.
Let’s consider how this happens by examining the following:
- The average monthly salary for a virtual transaction coordinator is much less than the average sales commission check
- Most research shows that agents need to spend about 20% of their time meeting with potential clients if they wish to grow their sales volume
- If your virtual TC leads to even one more transaction a month, you’re covering their costs and increasing your profits
It’s really simple. Working with a virtual transaction coordinator frees up your time to secure more buyers and sellers.
In most cases, the return on investment for a virtual real estate transaction coordinator is often swift.
Even one additional sale can easily offset their salary and related costs, and the potential for even more significant growth is substantial.
Market Leading
Real Estate Transaction Coordinators
Hand off your transactions, media, and marketing to a real estate TC.
2. Second Secret – A Virtual Transaction Coordinator Saves on Office Costs
Our second secret is that hiring a virtual real estate transaction coordinator can offer significant cost savings and efficiency advantages regarding office costs.
By outsourcing these tasks to virtual workers, businesses can reduce overhead costs associated with office space, equipment, and employee benefits.
Beyond saving on salary, you’ll also cut costs on the following:
- Reduced office space and rent
- Utilities and office supplies
- Computers, phones, and other equipment
- Desks, chairs, and other furnishings
Your savings on employee benefits, such as healthcare, vacation time, and retirement plans, may be even more substantial.
By now, you’re beginning to see that hiring a virtual real estate transaction coordinator can be a strategic decision that offers significant cost savings.
However, there are other benefits to working with a virtual real estate transaction coordinator. One of these is spending less time managing your transaction coordinator.
Let’s look at this advantage more closely.
3. Third Secret – Less Management Time
Our third secret is that you will spend less time managing a virtual transaction coordinator.
Why? Here are some reasons why a virtual TC is easier to manage:
- Most virtual TCs are already trained and experienced in managing transactions
- As a result, onboarding tends to take less time
- Virtual transaction coordinators are more flexible in terms of working hours
- This flexibility translates into efficiency as virtual TCs can adjust their hours according to work volume
These advantages collectively demonstrate the value of virtual TCs in helping real estate agents optimize their operations and increase productivity.
In terms of the actual management tasks, most virtual TCs require only the following:
- Project instructions can be sent in an email
- Text messages for updates
- And a weekly video conference to check in and review work
It’s really that easy.
The above 3 secrets illustrate the benefits of working with a virtual transaction coordinator. So, if you’re ready to save on overhead costs while growing your real estate business, AgentUp is here to help.
Market Leading
Real Estate Transaction Coordinators
Hand off your transactions, media, and marketing to a real estate TC.
Hire a Virtual Transaction Coordinator With AgentUp
AgentUp connects real estate brokers and agents with highly skilled virtual transaction coordinators.
Our team of coordinators is among the best trained in the industry, dedicated to optimizing your transactions and ensuring a smooth closing process.
To achieve these objectives, our coordinators offer a comprehensive range of services for each transaction. Their expertise includes:
- Reviewing contracts and disclosures for compliance
- Sending introduction emails to all parties
- Ordering the title work
- Coordinating the inspection and sharing the report
- Monitoring and reminding parties of upcoming deadlines
- Scheduling the closing and property walk-through
- Selecting a client-closing gift
- Conveying the utility information to clients
- Soliciting a client Google review and referral follow-up
Trust AgentUp to help you find the right virtual TC and select the best service options for your business.
The first step is a free consultation call during which we listen to your business needs and explain our services in detail, including the costs.
Go ahead and take the first step toward increased sales success!
Schedule a call today to discuss how AgentUp can become your partner for growth.
AgentUp Virtual Transaction Coordinators Do Marketing, Too!
AgentUp’s transaction coordinators are more than just closing specialists; they are skilled marketing professionals who can significantly enhance your business visibility and generate leads.
All of AgentUp’s TCs are cross-trained in marketing, so beyond their core responsibilities of managing the closing process, our coordinators offer a comprehensive range of marketing services.
Their expertise in these areas can help you build brand awareness, establish credibility, and differentiate yourself in the competitive real estate market.
AgentUp virtual TCs will market your listings and services using cutting-edge digital marketing tools, including:
- Virtual tours
- Property websites
- Home flyers
- House portraits
- Real estate photo editing
- And virtual staging
Explore all of their marketing options – Sign up for a free AgentUp account.
Work With an Established Industry Leader
Over the past decade, AgentUp has established itself as a recognized real estate industry innovator for the following reasons:
- Custom Services: They match you with the right services and solutions to grow your bottom line
- Outstanding Support: The US-based support team is ready 24/6
- Affordable Rates: Enjoy the most competitive prices in the industry
The company has been recognized for its quality and credibility. AgentUp and its services have been featured on ABC, CBS, Fox News, USA Today, and leading industry podcasts and blogs.
Thank you for reading this article on why agents choose a virtual real estate transaction coordinator – 3 secrets revealed. If you found this article beneficial, then please take a moment and explore these related resources:
- Low Cost Real Estate Transaction Coordinator Services
- Who Pays the Transaction Coordinator Fee – Agent or Seller?
- Best Transaction Coordination Services in 2024
- 4 Benefits of Real Estate Transaction Coordinators for Agents
- What’s the Difference Between a Dedicated Transaction Coordinator and a Regular TC?
