Table of Contents
- What Is a Transaction Coordinator for Real Estate?
- What Exactly Does a TC Do?
- How Much Does a Transaction Coordinator Charge?
- Let PhotoUp Help You Find the Right Transaction Coordinator
Are you looking into working with a transaction coordinator, but wondering how much they charge?
Many top-selling agents hire transaction coordinators to manage the closing details of already negotiated sales. This frees up valuable time so they can go out and secure more clients.
In this post, we’ll share what a transaction coordinator is and does, and how much a transaction coordinator charges.
So first, let’s take a look at what a transaction coordinator (TC) for real estate is.
What Is a TC for Real Estate?
Much of the work involved in any real estate transaction occurs after the purchase agreement is signed.
An agent’s time is better-spent onboarding new clients instead of talking through the details with title offices, mortgage lenders, and other vendors and professionals involved in getting transactions closed.
A transaction coordinator takes over the process once a purchase contract is signed, making sure every sale closes on time and without problems.
Your transaction coordinator handles all the busy work, so you can be out in the field meeting new clients, showing more properties, and selling more homes!
Many transaction coordinators are licensed real estate professionals. However, they do not have a contractual relationship with either the buyer or the seller, and therefore are impartial in their work.
Since they have no agency standing with either side of the transaction — their role is simply to shepherd the sales process through to closing.
Now, let’s take a closer look at what a transaction coordinator actually does.
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What Exactly Does a TC Do?
A transaction coordinator takes time-consuming tasks off your plate. They take on the significant amount of work involved in getting any contracted sales to close:
- Regular contacts with the mortgage lender to keep the closing on track
- Scheduling and working with the home inspector and sharing the inspection report
- Answering client questions and providing updates
- Setting up and working through a land survey
- Addressing any concerns with the appraisal
- Keeping up to date with the title company and scheduling the closing
- And more!
Phone calls, emails, and regular follow-ups with mortgage lenders, home inspectors, title company staff, surveyors, and appraisers — these tasks take up more time than agents tend to realize.
Not having to worry or attend to such tasks allows the agent to focus his or her time where it matters the most — securing new clients and growing their business.
Therefore, transaction coordinators provide a strong competitive advantage to agents who can better leverage their time focused on income-producing tasks. Besides, they practically pay for themselves when you factor in increased sales.
If you want to learn more on this topic, please read, the value of a transaction coordinator to a real estate agent.
So, now that we understand what a transaction coordinator is and does, let’s turn our attention to our main question – what do they charge for their services?
How Much Does a Transaction Coordinator Charge?
Basically, there’s no standardized pricing system for a transaction coordinator. Costs will vary. It will depend on where the transaction coordinator is located, how experienced they are, and their specific role and tasks.
Transaction coordinators can be hired full-time, part-time, or even on a transaction basis. Many real estate sales professionals contract with a transaction coordinator in an ongoing, part-time arrangement, adding more hours when there are more sales to close.
Some transaction coordinators charge a percentage of the agent’s commission from the sale. Others charge by the hour or a flat fee per transaction.
Now, before we go any further, here’s a little secret. You can likely save a lot of money, while also securing an extremely talented and highly experienced transaction coordinator. How? By working with a virtual transaction coordinator!
Today, you can roughly expect a US-based transaction coordinator to charge $40 to $50 per hour, compared to $7 to $12 per hour if you hire a transaction coordinator from the Philippines, India, or Vietnam.
The bottom line is that you can hire world-class virtual transaction coordinators at a fraction of the charge you’d pay for one in the US.
Also, the experience will seem seamless and easy from the US perspective. Most virtual transaction coordinators are used to working through the night to compensate for the time zone differences.
Many US real estate agents choose to work with remote transaction coordinators from the Philippines. This is due to their high level of education, fluency in English, and often extensive experience with the US real estate market and American culture.
How do you go about finding a virtual transaction coordinator? Let PhotoUp make it easy!
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Let PhotoUp Help You Find the Right Transaction Coordinator
For over a decade PhotoUp has been building highly skilled virtual teams in the Philippines. We have a staff of hundreds of virtual assistants and transaction coordinators.
Therefore, we have the size and experience to connect you with the perfect virtual TC.
PhotoUp will match you with a transaction coordinator who has the right educational background, skill set, and level of experience for your specific real estate needs.
Most importantly – our excellent transaction coordinators charge at competitive rates.
For more details on what types of virtual assistants we offer and how to get started, you can check out our virtual assistant demo:
It’s really that easy to get started with a PhotoUp TC!
So, why not take the first step to free up valuable time to grow your business today?
Schedule a free consultation to learn more about PhotoUp’s transaction coordinators and how they can make a noticeable and positive difference to the way you work.
We hope this post helped you better understand what a real estate transaction coordinator is and how much they charge.
If you enjoyed reading this blog post, you may also want to check out the following resources:
- Grow Your Business With a Real Estate Virtual Assistant
- The Value of a Virtual Assistant to a Real Estate Agent
- Are You Making the Most of Your Virtual Assistant’s Services?
- Where, How, and When Should You Hire a Real Estate Virtual Assistant?
- Real Estate Photo Editing Philippines (Best & Most Affordable Service)