Transaction coordination is mostly done behind the scenes, with transaction coordinators working hard to get real estate sales closed.
Buyers and sellers often never meet the transaction coordinator (TC) working on their sale and closing. From the outside looking in, the job seems like a barrage of constant voice messages, emails, and texting.
To help us better understand transaction coordination and what it’s like to work as a TC, we’ve interviewed Portia Taylor, AgentUp’s Vice President of Transactions for the southeast region.
In this interview with Portia, you’ll get an inside look at real estate transaction coordination and get a sense of what it’s like to work with a TC.
Let’s dive into our interview with Portia.
An Inside Look at Transaction Coordination
Closing a real estate transaction involves many complex steps, from processing the mortgage, title work, and inspections to ensuring all the contracts are fulfilled. A transaction coordinator manages and tracks these and related tasks.
A few days ago, we spoke with Portia about her career as a transaction coordinator. Here’s a transcript of our conversation.
1. How did you come to work as a transaction coordinator?
I became a transaction coordinator by combining educational courses with hands-on experience in transaction coordination in the real estate industry.
After completing many years of back-office real estate administration positions, I began working in various roles within real estate agencies, gaining firsthand experience coordinating various transactions.
Over time, I developed a strong understanding of the intricacies involved in real estate transactions and honed and developed my organizational and communication skills.
This background and my passion for facilitating smooth and successful real estate transactions led me to pursue a long-term career as a transaction coordinator.
2. What’s it like working remotely? Are there advantages to being a virtual worker?
Offering remote or virtual transaction coordination services provides numerous advantages, including flexibility, efficiency, accessibility, cost savings, and improved work-life balance.
These benefits contribute to a more productive and satisfying work experience. Eliminating the need for commuting also saves time and reduces stress. Without the distractions of a traditional office environment, I can focus more intently on the tasks and increase my overall productivity.
Additionally, I’m convinced that my clients benefit from my virtual status. I can focus on their sales and transactions without office distractions from meetings, small-talk with colleagues, etc. That ability to focus really helps in terms of accuracy and attention to detail.
3. How do you support a real estate sales agent? Can you give us a few examples of the work and tasks you’re involved with daily?
My primary role in transaction coordination is to provide comprehensive support to real estate sales agents throughout the transaction process.
I facilitate the smooth and efficient closing of transactions, ensuring that the buyers, sellers, agents, and service providers involved are well-informed. I also ensure that the contract and other deadlines are met. Here are a few examples of the work and tasks I’m involved with daily:
Documentation management: I oversee the preparation, review, and organization of all transaction-related documents, including contracts, disclosures, & addendums. This involves ensuring all documents are accurately completed, signed, and submitted promptly.
Communication liaison: I serve as the main source of contact between the real estate agent, clients, lenders, title companies, and other parties involved in the transaction. My daily work requires that I communicate effectively to ensure everyone is kept informed throughout the process.
Process coordination: I coordinate various tasks and milestones throughout the transaction process, such as scheduling inspections, appraisals, and closing appointments. I work closely with all parties involved to ensure that deadlines are met and that the transaction progresses smoothly from start to finish.
Compliance oversight: I ensure that all aspects of the transaction comply with relevant laws, regulations, and industry standards. I also ensure all required disclosures and documentation are correctly executed and provided to the Agent’s broker.
Further, I do all of the above for real estate clients in different states, where the laws, regulations, and processes differ.
I know it sounds challenging, but it’s also rewarding and fun.
Learn more about the ways a transaction coordinator can save you time.
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4. What things have you learned about the US real estate industry that have pleasantly surprised you?
The sense of community and collaboration in the industry has been a pleasant surprise. Despite being competitive, real estate professionals are often willing to share knowledge, resources, and best practices to support one another’s success.
Whether through networking events, professional associations, or online forums, I’ve found that a strong culture of mentorship and camaraderie fosters growth and development within the industry.
Across the country, I find things to be more or less the same – it’s like we’re friendly competitors.
I’ve also noticed that transaction coordinators have become more common, and more agents are recognizing the value of working with one and taking back their time to engage in revenue-generating efforts.
5. Tell us a little about what differentiates AgentUp from other TC companies you’ve worked for.
AgentUp is unique because it offers additional value-added services beyond traditional transaction coordination, such as marketing support and educational resources for real estate professionals.
Working with a transaction coordinator or a real estate assistant or quickly ordering virtual staging or editing for listing photos all in one company is a genuine time-saver. It also provides transaction consistency from preparing a listing to marketing and closing it.
Further, I’m impressed at how well-trained and experienced AgentUp’s transaction coordinators are—they really understand the business. It’s also hard not to notice that our TCs and VAs truly care about their clients, which is a great thing.
AgentUp is also starting to offer agents and brokers continuing education courses in real estate. We’ve now begun offering continuing education online classes in Michigan, but we’re hoping to expand to other states quickly.
Offering all of these high-quality services helps clients maximize their success and achieve their goals more effectively.
Take a minute and explore the benefits of transaction coordination for agents further.
Transaction Coordination Services With AgentUp
You can rely on AgentUp to find the ideal TC (Transaction Coordinator) or VA (Virtual Assistant) tailored to your real estate business needs.
AgentUp has built a team of expertly trained virtual transaction coordinators ready to manage your sales and listings efficiently and ensure your deals stay on course.
Our transaction coordinators have comprehensive knowledge of the US real estate landscape in all aspects of the industry, from contracts and inspections to title work and closings.
Here at AgentUp, we believe in providing customized and personalized services, and transaction coordination is no different.
While our website offers extensive details on our transaction coordination services, we want to understand your business requirements and how to meet them directly and fully.
So, schedule a free call today; there’s no obligation. We’ll guide you through the process, address all your questions, listen to your business needs, and lay out the costs.
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AgentUp – Your One-Stop Shop for Real Estate Marketing Support
Finally, AgentUp offers more than transaction coordination services. We deliver a comprehensive suite of marketing solutions tailored to promote your listings and agent services effectively.
Do yourself a favor and explore our range of real estate marketing services, including:
- Real estate photo editing
- Virtual staging
- Virtual tours
- Single property websites
- Custom house portraits
Go ahead and take the first step to expanding your real estate business now.
Sign up for a free AgentUp account and use the best real estate marketing and support services available.
We appreciate your taking the time to read this article and hope it helped you gain an insider’s perspective on transaction coordination in real estate. If you liked this post, take a look at these other related articles:
