You may have thought about hiring a transaction coordinator, and wondered whether it is worth the trouble. Or you believe TCs are a want, not necessarily a need, in the real estate industry. A transaction coordinator may be the missing piece of your puzzle. It may be the best business decision you’re yet to take. But hold on, let’s look at 3 Signs that’ll show that you need a transaction coordinator immediately.
You need a Transaction Coordinator
If you’re involved in the real estate industry, either as a buyer, a seller, or an agent, you need a transaction coordinator. If you’ve never attempted a home sale before, you may not believe me if I told you that the process is complicated. But, it is!
You’ll certainly need someone who can coordinate the entire transaction from start to finish. The process of selling a home involves many steps which are independent of each other. For home sellers, this is not helpful as the process is often unnecessarily delayed. During that timeframe, so many things could happen that would detail the transaction.
What if I told you that there’s a person that could efficiently free up the bottlenecks and allow the contract-to-close process to move like a well-oiled machine?
Who? A Transaction Coordinator.
What do Transaction Coordinators do?
From scheduling the important meetings to meeting deadlines and handling of managing thousands of documents related to the transaction, transaction coordinators manage the entire process from start, which includes arranging open houses; to finish.
Transaction coordinators may not be involved in negotiating the price of a home because they are not real estate agents, but their role in efficiently managing the entire process is why agents work with transaction coordinators. But that’s not to mean they can’t do what agents do. Most owners who put their homes for sale make use of transaction coordinators.
3 Signs you need a Transaction Coordinator Today!
When a deal is limiting you
Imagine not being able to start a new deal simply because you’re yet to finalize one? But that’s the experience of many people. There’s the need to push the deal through from one stage to another, otherwise, it won’t be finalized. Imagine something cataclysmic occurs while you’re trying to make more money, and the buyer develops cold feet suddenly? You could end up losing at both ends. A transaction coordinator sorts this out nicely, allowing you to concentrate on finding more deals, while the ones on the ground are pushed to fruition smoothly.
A deal is taking longer than necessary
If you insist on not working with a transaction coordinator, you may end up missing deadlines. When you miss deadlines, you unnecessarily prolong the process, and the deal takes longer than necessary. Even For Sale By Owner homes that are managed by transaction coordinators are wrapped up swiftly and smoothly. If you want deals wrapped up quickly, you need a transaction coordinator.
Selling homes and paperwork go hand in hand. If you find dealing with complex paperwork a challenge, don’t even think about it. Hire a transaction coordinator. Not only will the process be more organized, but you will also have more time to do other things.
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Hi, I’m Sean and welcome to Close Concierge. I’m a licensed real estate agent in the state of IL (license #475202452). I’m also an active real estate investor and previously was CEO of a transaction coordination company, as well as a property manager. In total, I’ve been a party to more than 600 real estate transactions! I write on this website about once every week to answer some of the most common questions I come across on a day to day basis within real estate.