If you have a real estate business or you’re planning on starting one, there may be many roles that need filling. One of the roles you might be considering is transaction coordinator. Understanding why you need someone in this position, what they can do for you, and what kinds of skills you want them to have, are all very important parts of choosing someone to work in this capacity. Not being sure whether you need to hire a coordinator for your real estate transactions isn’t uncommon. Here’s what you should know.
What is a Transaction Coordinator?
A transaction coordinator is exactly what the name implies. This person handles the administrative work that comes with a real estate transaction. That usually involves getting the purchase documentation ready and submitting it, along with getting all the needed information from the buyer and the seller. A coordinator may also communicate with real estate agents, the title company, the inspector or appraiser, and others who are part of the transaction.
While you can certainly do these things on your own, if you have a real estate business, you probably have a lot of other things you need to do, as well. Instead of spending so much time coordinating the purchase and sale transactions, you can focus on other areas of your business and let a hired coordinator get the transactions ready and completed for you. That’s a great way to accomplish more and focus on all the issues you need to handle while still keeping transactions moving personally.
How Can a Transaction Coordinator Help Your Business?
A transaction coordinator can help your real estate business by taking over the multitude of administrative tasks. From collecting buy and seller information to working with the title company for any needed documents, a coordinator can do so much for your company. Whether you’re investing and need someone to help you coordinate closing on properties, or you’re working as an agent and need an assistant to process transactions, the right coordinator will offer you a significant amount of help and support.
It’s very important that you utilize the full extent of what your coordinator can offer you if you decide to hire one. That way, you’ll be more prepared to advance your business and keep it growing rapidly. Coordinating real estate transactions can take up a lot of time. If you want to use that time for other things, hiring someone else to take the coordination off your hands is the way to go. It provides you with more time, more support, and much-needed peace of mind, all at the same time.
What Skills Do You Want Your Coordinator to Have?
Before you choose a particular coordinator for your company’s real estate transactions, think carefully about what skills you’d like that coordinator to have. Each person you consider will likely have similar skills and abilities, but they aren’t going to be identical. Personalities will also be different, so finding someone who meshes well with you and anyone else who works for you can be very important.
Finding the right fit for a transaction coordinator is the way to accomplish more and keep the people you work with happy. Your clients will also feel comfortable when you choose the right person because they won’t feel like you’re closing a sale and then pawning them off on someone else. They’ll feel appreciated and valued by your real estate business as a whole, which keeps them coming back when they need additional services in the future.
Where Should You Look for Real Estate Business Support?
You can search for a transaction coordinator on your own, but you may be more likely to find the right person when you use an agency that vets administrative personnel for the real estate industry. That way, you’ll know that the person you’re considering has the skills and experience they claim to have.
Since that’s very important to the quality they can provide and the value they bring to your company, it’s worth taking the time to ensure the best person for the job is being chosen. Then you can move forward with your business and its goals, knowing you have the right team in place.
Stephen Atcheler is an entrepreneur in the Real Estate space. He has grown multiple businesses, including a Real Estate Agency, and an online Real Estate Advertising business, and is currently the founder and driver of the fastest-growing Real Estate BPO in the Philippines. If you would like to connect or get in touch with Stephen, he is very active on LinkedIn and always happy for a new connection.