Virtual transaction coordinators help brokerages manage contracted real estate transactions so agents can be out finding new clients.
A virtual transaction coordinator handles the paperwork, communication, and scheduling to meet the closing deadlines, freeing agents up to focus on clients and business growth.
Not all brokerages work with virtual transaction coordinators, and some ask whether it is worth the investment.
To answer that question, this post explores the benefits, costs, and process of working with a virtual transaction coordinator.
Is a Virtual Transaction Coordinator Worth It?
As a real estate brokerage, managing multiple real estate transactions simultaneously can be a daunting task. The workload, from paperwork and deadlines to client communication and coordination, can feel overwhelming.
A real estate virtual transaction coordinator (TC) can offer significant benefits. However, it’s important to consider whether hiring one is a worthwhile investment.
Let’s explore the potential advantages.
The Role of a Virtual Transaction Coordinator
A transaction coordinator is a skilled professional who manages the administrative tasks involved in a real estate transaction, ensuring a successful closing.
A virtual transaction coordinator’s responsibilities include:
- Communicating with all parties, including the mortgage lender
- Handling contracts and obtaining necessary signatures
- Scheduling home inspections and distributing inspection reports
- Initiating title searches and updating title company personnel
- Keeping agents informed about transaction progress
- Answering client questions and providing regular updates
For a more detailed overview, please refer to what does a transaction coordinator do?
Let’s now explore the benefits of working with a virtual transaction coordinator.
The Advantages of Virtual Workers
Many brokers and sales agents initially believe that hiring an in-house transaction coordinator (TC) offers advantages over using a virtual TC.
However, this perception often shifts when they consider the significant costs of employing a local in-office worker, including salary, benefits, and office space.
Furthermore, the remote work trend, which gained momentum during the COVID pandemic, has led many brokers and agents to realize that virtual TCs can be highly effective.
Statistics support the benefits of remote workers:
- Virtual workers are 4.4% more productive than their in-office counterparts due to reduced distractions and commuting time
- 70% of employers report substantial cost savings when using virtual workers
- In the real estate industry, over 50% of top brokerages rely on virtual transaction coordinators for their numerous advantages
Technology also facilitates efficient remote work. Videoconferencing, email, chat, electronic signatures, and file management software make virtual TCs easily accessible, often more so than in-office colleagues.
Market Leading
Real Estate Transaction Coordinators
Hand off your transactions, media, and marketing to a real estate TC.
The Benefits of a Virtual Transaction Coordinator
Many brokerages who collaborate with transaction coordinators find the investment to be worthwhile.
Here are some key benefits of working with a virtual transaction coordinator:
- Transaction coordinators’ rigorous attention to detail helps prevent costly errors that can occur due to overlooked paperwork or missed deadlines
- Their organized approach streamlines the transaction process, leading to greater efficiency
- By handling administrative tasks, transaction coordinators free up agents’ time to focus on providing personalized client service, which can result in higher satisfaction and referrals
- Delegating administrative work to a transaction coordinator can significantly reduce stress levels for agents
For even more information, read what are the benefits of hiring a transaction coordinator.
One of the most significant advantages of working with a transaction coordinator is that it frees up your agents’ time for revenue-generating activities.
Research indicates that a virtual transaction coordinator can save your agents 10 to 20 hours per transaction. Imagine the productivity boost if you freed up the time of even a handful of agents.
A virtual transaction coordinator lets your agents focus on growing your business by delegating paperwork, email management, and scheduling tasks.
While understanding the benefits of working with a transaction coordinator is essential, knowing how to select the right TC for your business is equally crucial.
Let us show you how.
How to Hire a Virtual Transaction Coordinator
Unfortunately, some brokerages choose a virtual transaction coordinator service or freelancer TC without careful consideration. This approach can lead to unsatisfactory results.
Working with an unqualified transaction coordinator can be costly and time-consuming. No brokerage wants to risk mishandling its transactions.
Finding a qualified and skilled transaction coordinator is possible with careful planning.
Fortunately, a leading provider of transaction coordination services is offering free, no-commitment assistance to help you find the right fit.
Market Leading
Real Estate Transaction Coordinators
Hand off your transactions, media, and marketing to a real estate TC.
Hire the Perfect Virtual Transaction Coordinator With AgentUp
AgentUp is a leading provider of real estate marketing and support solutions. We offer innovative and affordable services to brokerages and agents worldwide.
With a deep understanding of the real estate industry, we specialize in supporting sales professionals with affordable marketing and support services, including exceptional transaction coordinators.
While you can certainly hire transaction coordinator services independently, we encourage you to consult with us first. We’re committed to helping you find the ideal services and coordinator that perfectly align with your business needs.
We invite you to schedule a free 15-minute phone consultation to discuss your specific requirements.
During this call, we’ll work to identify the most affordable and effective solutions for your business. Our conversation will cover the following:
- Understanding your business, sales volume, and support needs
- Presenting various service options and solutions for your consideration
- Clearly explaining pricing, onboarding, and how to obtain the necessary services in an affordable manner
We provide honest advice without any gimmicks or sales pressure. Our goal is to listen carefully and offer proven suggestions and solutions.
There’s no obligation or risk involved, so take the first step towards affordable business support and growth.
Schedule a free consultation call today!
AgentUp Virtual TCs Help With Marketing Too!
Our virtual transaction coordinators are versatile professionals who can handle various tasks. In addition to their core responsibilities, they can assist you with administrative and marketing duties.
We understand the intricacies of selling listings and services and offer affordable and effective marketing tools to help you achieve your goals.
Explore the following marketing resources designed to enhance your bottom line without exceeding your budget:
- Real estate photo editing
- Virtual staging
- Virtual tours
- Property websites
- Custom house portraits
- And transaction coordinators
Do you understand and want the advantage of one-stop-shopping? We also offer listing coordination and marketing coordination packages.
So, explore all we offer – Sign up for a free AgentUp account.
Work With the Best for the Best Results
AgentUp assists real estate sales professionals in managing and expanding their businesses.
We strive to be your partner for success and make it convenient to work with us:
- Our website is user-friendly, and placing orders is quick and straightforward
- We provide exceptional customer support 24/6 through our US-based support team
- As a trusted and established company, we’ve been featured on major networks like ABC, CBS, Fox News, and USA Today, as well as in leading industry publications and podcasts
The team at Agentup is here to support you in taking your business to the next level.
We hope you enjoyed this post on why your brokerage needs a virtual transaction coordinator. Also, take a moment and explore these other related articles:
