• 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. 

It's Time To Level-Up Your

Real Estate Marketing

Capture more leads with virtual tours and single property websites.

Join PhotoUp Learn More

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!

The Ultimate All-in-One

Real Estate Photographer Business Platform

Grow a successful real estate photography business with PhotoUp.

Join PhotoUp Learn More

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 competitive rates.

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)

What is a transaction coordinator? That question is on many realtors’ and agents’ minds, and we’ll answer it for you.

There are people in the backend running every successful real estate business. And one of the most important jobs in the real estate industry is one you’ve probably never heard about.

In this post, we’ll explain what a transaction coordinator is. We’ll also cover how the digital era has transformed the real estate industry and the two phases of a transaction coordinator.

The Digital Era of Real Estate Work 

It’s plain to see that the digital age has come crashing into the world of real estate and transformed it. The ways we all used to work seem quaint and outdated.

Now social media campaigns, interactive 3D tours, virtual assistants, single property websites and virtual staging are the essential tools for selling property in 2022. 

Two of the most important roles in the digital workplace are the virtual assistant and the transaction coordinator.

These are highly-skilled individuals, working domestically or overseas, who are able to coordinate the digital work of US-based real estate operations. And also help them to manage and complete a real estate transaction.

Virtual Assistant vs. Transaction Coordinator

There is  a lot of attention given to who your first hire will be when you’re ready to expand your real estate business.

The first person you hire will determine, to a large extent, whether you will carry on using this new model of work. Or whether you will revert to a more traditional, office-bound style of working.

So, do you hire a virtual assistant or transaction coordinator first?

We’ll try to explain this in a simple way.

A virtual assistant tends to pick up the slack across a lot of departments; from scheduling to social media marketing, data entry and paperwork.

But after a few short weeks or months, if they are successful, then you will start to see an uptick in the amount of work being generated.

This is usually when the day to day management of each transaction becomes too much for one person to handle, and that’s when the next hire becomes even more important.

So, that’s the moment to contract a transaction coordinator who can make sure nothing slips through the cracks during each and every new transaction.

Transaction coordinators will oversee all aspects of the transaction, from both the buyer and seller perspective. 

The Real Estate Photography

Business Systems You Need

PhotoUp is the ultimate real estate photographer business platform.

Join PhotoUp Learn More

The Two Phases of a Transaction Coordinator

Think of the work of a transaction coordinator as being separated into two halves.

The first half runs up until the point that a sale has been agreed upon; the second half handles everything that needs to happen to close the deal.

There are a lot of different tasks and responsibilities associated with each phase for a transaction coordinator to deal with. 

1. Listing to Contract

For example, when you’re working from the Listing to Contract phase, you might be asked to prepare all listing materials such as the pre-listing presentation, listing agreement, sellers’ disclosures, comparative market analysis and more.

After that, you will likely have to obtain all necessary signatures on listing agreement, disclosures and other necessary  documentation, then input the listing information into MLS and marketing websites before publishing the listing.

Finally, the job requires you to submit all necessary documentation to the office broker for file compliance and input all necessary information into a client database and transaction management systems.

2. Contract to Closing

It’s hard work and that’s only the beginning. The second phase deals with Contract to Closing tasks, such as:

• Coordinate title and escrow
• Mortgage loan origination 
• Appraisal processes
• Assisting in negotiations regarding repairs
• Coordinate moving and possession schedule
• Scheduling, coordinating & attending the closing process

These are much more consumer-facing tasks and require a well organized individual with good people skills.

The entire process, start to finish, requires a capable and skilled digital professional to make it a real success. 

In addition, it’s also a role that can happen asynchronously from the rest of the team.

Wrapping Up

Transaction coordinators don’t need as much daily interaction from the client, which is another reason that it’s the ideal digital role to outsource to a qualified person in another country.

Virtual assistants and transaction coordinators from the Philippines tend to be some of the best in the industry.  

A transaction coordinator is an incredibly important role for a growing agency.

A person who is focused on the details of a transaction and can coordinate between all the parties is an extremely powerful asset. 

Let PhotoUp use our experience in staffing to help you find a transaction coordinator or virtual assistant that is sure to have a positive impact on your business. 

We hope this post answered your question: what is a transaction coordinator? Before you go, you may also check out the following resources:

If you’re already wondering if you need assistance, then the answer is probably yes.

In this post, we’ll answer 4 questions that’ll help you decide if it’s time for you to hire a real estate transaction coordinator. We’ll also cover how much they cost and how to onboard your transaction coordinator.

So, let’s get into the nitty-gritty right away!

What Is a Transaction Coordinator?

“I’ll take it!” “This is the one!” “Sold!”

These are the kinds of phrases that motivate and delight realtors all over the world.

No doubt, it’s an unbeatable feeling to agree on a deal with a buyer. But in reality, it’s just the end of one phase of the process and the beginning of another.

There’s still a lot of work to be done before the deal is officially done, and it’s the kind of work that can bog you down if you’re not careful.

That’s where the real estate transaction coordinator comes into the picture.

A transaction coordinator, or real estate virtual assistant, is someone who works directly with you to help manage the details of all your real estate transactions.

In today’s digital economy, more and more realtors are turning to real estate transaction coordinators and virtual assistants to help them close the deal.

There’s nothing glamourous or heroic about trying to do everything all on your own. The truth is, your work and quality of life will suffer.

You’ll miss other opportunities, and details can fall through the cracks when you’re trying to juggle everything by yourself.

The good news is that there is an easy solution that can transform the way you work and run your business. And that solution is to work with a real estate transaction coordinator.

4 Common Questions About Real Estate Transaction Coordinators

1. What Is a Real Estate Transaction Coordinator?

Essentially, a transaction coordinator is a virtual assistant, but with specialized skills around the administrative tasks of real estate transactions.

2. What Tasks Does a Transaction Coordinator Help With?

Your real estate transaction coordinator should be able to shoulder the burden of all administrative aspects of your closings, including:

• Opening an escrow account
• Scheduling repairs and inspections
• Following up on documentation
• Scheduling meetings
• Managing email correspondence
• Helping manage the closing process

3. When Do You Need a Transaction Coordinator?

When you find yourself getting bogged down with paperwork and redundant administrative tasks that are keeping you from getting new clients. Or from spending time with friends and family, it’s time to hire a transaction coordinator.

Too often, realtors waste precious time on high volume, low revenue generating tasks.

Even though these tasks are essential, they could easily be done by someone else who understands the business but isn’t operating as the face of the business.

So, if this sounds all too familiar, then it’s likely time you start looking to hire your own transaction coordinator.

The Real Estate Photography

Business Systems You Need

PhotoUp is the ultimate real estate photographer business platform.

Join PhotoUp Learn More

4. Where to Look for a Transaction Coordinator?

Most affordable, quality real estate transaction coordinators are found online these days.

These are professionals who have built up a lot of experience doing this kind of work. And they know how to jump right into these administrative tasks in order to free up your time.

When you’re looking to hire, make sure you select an individual with an excellent command of English (if hiring outside of the US) and who comes recommended via a reputable virtual assistant agency.

In our experience, transaction coordinators from the Philippines tend to work very well with US real estate agents. In fact, they’ve built up a great reputation as some of the best transaction coordinators and real estate virtual assistants in the world.

How Much Does a Transaction Coordinator Cost?

Typically, a transaction coordinator or real estate virtual assistant can cost anywhere from $2,000 to $3,000 per month, depending on his/her level of experience and where they live.

What makes international transaction coordinators so appealing is that they typically charge anywhere from $1,000 to $1,750 per month.

That comes out to being between $7-10 per hour, which is typically under minimum wage in most states.

How Do I Onboard a Transaction Coordinator?

The key to any good business relationship is training. No transaction coordinator is going to automatically know everything about your business, how you operate, and how you like things to be handled.

It’s extremely important that you dedicate time to training in order to get the maximum value from your transaction coordinator.

There are real and immediate benefits to be gained from outsourcing. It’s very reassuring to know that your business is in good hands and important details are not going to fall through the cracks.

With the help of a transaction coordinator, you’ll be able to spend your time prospecting for new leads, or making sure you can continue to provide a great client experience.

Wrapping Up

In the beginning, it’s tempting to try and save money by doing everything yourself.

But over time, you’ll realize that in order to grow your business you need additional help.

A real estate transaction coordinator is an investment in your business that saves you time, minimizes costly administrative errors, and will have a dramatic impact on the quality of your life.

Reach out to PhotoUp today to schedule a meeting and find out why our Philippines-based real estate transaction coordinators are so popular and successful in working with US real estate agents.

We hope this post helped you realize the value of a real estate transaction coordinator. Before you go, you may also want to check out the following resources:

• What Is a Transaction Coordinator?
• What Is a Virtual Assistant?
• The Value of a Virtual Assistant to a Real Estate Agent
• Grow Your Business With a Real Estate Virtual Assistant
• Where, How, and When Should You Hire a Real Estate Virtual Assistant?