When Should You Hire a Transaction Coordinator?īefore hiring a transaction coordinator, you should consider what need they’re fulfilling at your brokerage. Coordinate the real estate processes from start to closing. Ensure the database is up-to-date and accurate.Manage escrow, mortgage loans and appraisals.Their role is broad and varies depending on state regulations, but typically a transaction coordinator will: They take care of the administrative side of a transaction from initial contract to closing. What Are the Benefits of Using a Transaction Coordinator?Ī transaction coordinator keeps deals on the right track. Equip your new transaction coordinator for success.Plan for bringing your transaction coordinator onboard.Decide the best time to hire a transaction coordinator.Because of this, many brokers need to recruit and integrate them into your team when volume provides the opportunity.Īt Paperless Pipeline, we’ve worked with thousands of real estate brokers and transaction coordinators, so we’ve written this article to help you: However, it’s not always as simple as deciding to hire a new transaction coordinator.Ī transaction coordinator requires consistent monthly revenue and production in order to pay for the new overhead. ✅ Free up brokers to work on completing deals. ✅ Ensure the correct process is followed. Recruiting and equipping a transaction coordinator offers many benefits. Transaction coordinators are an integral part of many real estate brokerages, and many brokers are exploring adding one (or more) to their team. □ Being unprepared for, or even failing, state audits. Thousands of individual tasks need to be completed in a specific order, and many brokerages fall behind.įor many brokers and brokerages, falling behind means: In this article, we examine a transaction coordinator’s role and help you decide if and when hiring one is right for you.įor busy real estate brokerages, managing transactions is a full-time job. Real estate transaction coordinators are often a critical role for many successful brokerages.
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