Table of Contents
- What Is a Transaction Coordinator for Real Estate?
- How a Transaction Coordinator Saves You Time and Money
- Let PhotoUp Find You the Right Transaction Coordinator
Real estate transaction coordinators handle much of the busy work that is a normal part of closing any transaction.
Successful agents leverage transaction coordinators to free up valuable time to secure more clients and increase sales for their business.
Therefore, this post will explain how to save time and money with a transaction coordinator for real estate.
But first, let’s explore what a real estate transaction coordinator does.
What Is a Transaction Coordinator for Real Estate?
A transaction coordinator is a professional who assists real estate agents and brokers with the administrative tasks involved in a real estate transaction and the daily operations of the brokerage or sales business.
This can include preparing and organizing documents, scheduling inspections and appraisals, coordinating with all parties involved in the transaction, and more.
Many transaction coordinators are licensed real estate professionals. However, they do not have a contractual relationship with the buyer or the seller and therefore are impartial in their work.
Think about all the time-consuming busy work that you deal with almost daily.
The list is long for phone calls, emails, and follow-ups with mortgage lenders, home inspectors, title company staff, surveyors, and appraisers.
Not having to worry or attend to such tasks allows the agent to focus their time where it matters the most — securing new clients and growing their business.
Therefore, transaction coordinators provide a definite competitive advantage to agents who can better leverage their time focused on income-producing tasks – such as meeting new clients, showing more properties, and selling more homes!
And by the way, transaction coordinators can also help real estate photographers organize and grow their business – if you’d like to learn more, read this article on virtual assistants for photographers, how much do they cost?
Next, let’s look at how you can save time and money using a transaction coordinator in your real estate business.
How a Transaction Coordinator Saves You Time and Money
Hiring a transaction coordinator can save time and money for a real estate agent. Not convinced or sure how? Let us explain how this is the case.
Sadly, many real estate agents have accepted the myth that they must do every part of their business themselves. And these same agents often feel like they’re drowning in minor yet essential tasks.
Even more importantly, many transaction and administrative tasks performed by real estate sales professionals don’t increase their income. In other words, these tasks are busy work that doesn’t improve your bottom line.
Curious about what a virtual transaction coordinator costs? Well then, read this article on how much does a transaction coordinator charge?
Here are 3 categories of non-income-producing tasks you could assign to a transaction coordinator to help you save time and money.
1. Transaction & Closing Tasks
Getting a sales contract negotiated and signed is often the easy part of a real estate transaction. The time-consuming busy work to get the deal closed is the hard part.
Real estate transaction coordinators particularly help agents by taking on the significant amount of work involved in getting any contracted sales to close:
- Regular contact 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
- Calling to have a survey done
- Addressing any concerns with the appraisal
- Updating the title company and scheduling the closing
- And more!
The above tasks are necessary and require hours each week, but they are not the best or most productive use of time for almost any real estate sales professional.
2. Ongoing Administrative Work
Obviously, there’s more to running a real estate sales business than facilitating closings.
Think about all the ongoing administrative work you could also turn over to a transaction coordinator, such as:
- Respond to emails and telephone calls
- Schedule showings, meetings, and open houses
- Manage your various social media accounts
- Update your websites
- Manage your calendar
- Help with client relations tasks such as holiday and birthday cards, organizing social events, customer appreciation and so on
In other words, good real estate transaction coordinators will more than pay for themselves. In fact, here’s an article explaining further the value of a virtual assistant to a real estate agent.
And more thing to mention – many expert transaction coordinators know ways to increase revenue opportunities for your business that you might never have thought of.
3. Lead Generation & Business Growth Tasks
The right transaction coordinator can help you be twice as effective with the following business growth tasks:
- Research buyer and seller leads
- Manage and update your CRM with notes on leads
- Prospecting and cold calling
- Following up with leads
- Setting appointments
- Update sellers on weekly progress
The list of sales support tasks an experienced real estate transaction coordinator can help with is almost endless!
Let’s pause for a moment and ask the following question: How many more clients could you find and secure with the time you saved not having to do all the above busy work?
Now that you understand the functions and value of a real estate transaction coordinator, how do you hire one?
Let PhotoUp Find You the Right Transaction Coordinator
Over the last decade, PhotoUp has built a highly skilled virtual team of real estate support staff in the Philippines.
With a team of hundreds of virtual transaction coordinators, we have the size and experience to connect you with the right coordinator for your specific needs and price point.
PhotoUp will match you with a transaction coordinator with the educational background, skill set, and experience level for your specific real estate needs.
So, take the first step toward saving time and money while growing your business.
Schedule a free consultation to learn more about PhotoUp’s transaction coordinators and how they can make a noticeable and positive difference in how you work.
And here’s one more critical detail – PhotoUp does more than transaction coordination. We’re a full-service real estate marketing servicing company.
Explore our other marketing offerings that can give you an advantage in today’s market and help you sell more listings at better prices:
- Real estate photo editing
- Virtual staging
- Virtual house tours
- Single property websites
- Real estate photographer websites
- Floor plans
- Property flyers
- Video editing
- Virtual Assistants
- House portraits
- And more!
Sign up for a free PhotoUp account and let us help you impress your clients and sell your listings faster and for higher prices.
We hope this post helped you better understand how to save time and money with a transaction coordinator for real estate.
If you found this blog post valuable, you may also want to check out the following related resources:
- Virtual Assistants for Photographers – How Much Do They Cost?
- 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?