Table of Contents
- In the Real Estate Business, Time Equals Money
- A Cost-Benefit Analysis of Transaction Coordinators
- Choose AgentUp for Low-Cost Transaction Coordinators
Transaction coordinator services cost money. But is the expense worth it?
The cost of a transaction coordinator (TC) varies depending on factors such as location, experience, and the scope of services. However, hiring a transaction coordinator is usually a strategic investment for real estate professionals.
This article will examine the costs of transaction coordinators and determine if the investment is worthwhile.
Let’s get to it.
In the Real Estate Business, Time Equals Money đź’µ
Many agents question whether the cost of transaction coordination is justified.
Consider the familiar saying “time is money” holds especially true in real estate sales.
As a real estate professional, you recognize that time is a scarce and valuable resource. Amid your busy schedule, it’s crucial to identify which tasks generate revenue.
For example, think about your real estate business and the following points:
- Assess Task Value: How many of your daily tasks directly impact your bottom line?
- Necessity or Profit: Many daily duties are essential, but most don’t directly earn income
- Identify Revenue Drivers: Reflect on which activities actually bring in the money
The above considerations reveal what almost every agent knows — that marketing, prospecting, and networking for new clients are key to revenue.
Time-consuming tasks, such as scheduling showings, responding to emails, and lengthy discussions with title companies, mortgage lenders, and home inspectors, may be beneficial. Still, they won’t grow your client base or increase sales on their own.
What does effectively increase your bottom line? Engaging in conversations with past clients, marketing efforts, attending neighborhood events, and networking professionally to attract new buyers and sellers.
Time is finite for everyone, including you. To advance your business and improve profits, prioritize building new buyer and seller relationships over routine tasks.
How? Hire a transaction coordinator. Let a skilled TC manage administrative details, freeing you to focus on securing new clients.
Many agents grasp this but hesitate due to misconceptions about hiring costs. Let’s explore the actual cost of working with a transaction coordinator.
A Cost-Benefit Analysis of Transaction Coordinators
Many agents question if there is any real benefit from hiring a transaction coordinator or working with a TC service.
Unfortunately, faulty reasoning often underlies attempts to answer this question. For example, many agents assume the following:
- Transaction coordinator costs will take a significant part of my commission check
- Closing a contracted sale doesn’t really take that much time
- My time and money are better spent closing my own real estate sales
While the above is common reasoning in the real estate industry, it is also wrong.
Let’s examine these legitimate concerns and the related costs more closely.
Real Estate Agent Income Analysis
To start, let’s ask what the average US real estate commission is.
Obviously, local markets vary in terms of sales prices and commission checks. Also, brokerage fees and splits vary and are part of the overall considerations.
However, the above averages provide us with the necessary information to continue our analysis.
Next, we will examine the costs of real estate transaction coordinators.
Typical Cost of Transaction Coordinator Services
Real estate transaction coordinator costs vary from region to region, but most are within an average bandwidth. Let’s take a closer look at those costs:
- Average Transaction Coordinator Cost per Side: $575
- Lower Cost TCs: AgentUp Starting at $349 Per Month
- Higher Cost TCs: MyOutDesk Starting at $1988 Per Month
Again, prices differ per TC service provider and from market to market.
Now that we have this initial financial information, let’s go deeper and do a cost-benefit analysis of working with a transaction coordinator.
Market Leading
Real Estate Transaction Coordinators
Hand off your transactions, media, and marketing to a real estate TC.
Transaction Coordinator Cost-Benefit Analysis
So, what do the above financial numbers mean? What are the costs and benefits of working with a transaction coordinator?
Let’s start to answer that question by examining the time it takes to close a typical real estate transaction:
- Recent estimates indicate that the combined tasks of closing a real estate transaction typically require around 40 hours
- Of those hours, around half, 20 hours, are comprised of paperwork and answering administrative questions
Now, let’s examine the cost of those hours.
Assuming that a typical sale requires 70 hours of an agent’s time, how much is an agent making per hour?
- Average Commission Check: $12,597
- Hourly Rate at 70 Hours: $180
In light of those numbers, consider this: You spend close to 20 hours on administrative tasks per sale. Imagine you were paying yourself for this work. You’d be paying $3,600 for transaction coordinator costs.
However, let’s remind ourselves that the average cost of a transaction coordinator per file is $575.
Moreover, consider that transaction coordinators are administrative specialists. Therefore, ask yourself this question: Would you rather pay $575 for a specialist or $3,600 for a rookie when it comes to closing your transactions?
Look, the numbers are clear. The cost of a transaction coordinator is minimal, considering the alternative. In fact, it’s a downright bargain.
Further, when you realize that you’re not using your time efficiently and in ways that make financial sense, working with a transaction coordinator is your obvious best choice.
More importantly, a transaction coordinator usually pays for themself.
How Real Estate Transaction Coordinators Pays for Themselves
Earlier, we noted that time is money in real estate sales.
How much could consistent, targeted marketing, networking, and prospecting boost your business?
The answer is clear: These activities increase your chances of attracting new clients and selling listings faster at higher prices.
Therefore, intelligent agents dedicate time to prospecting, networking, and winning new clients. Successful agents spend more of their time directly pursuing new business.
So, to address the question, will a real estate transaction coordinator be worth the cost? The answer is yes.
A transaction coordinator boosts productivity. Moreover, they free you to focus on revenue-generating tasks, such as closing deals, networking, and qualifying leads, thereby accelerating business growth.
Thus, a real estate transaction coordinator pays for themselves quickly.
How? Even if you close one more sale because of working with a transaction coordinator, you’ve covered the cost of their service and made significantly more in terms of your profit.
And you’re likely to see more than one extra sale.
Finally, if you’re ready to grow your real estate business, AgentUp is here to help.
Market Leading
Real Estate Transaction Coordinators
Hand off your transactions, media, and marketing to a real estate TC.
Choose AgentUp for Low-Cost Transaction Coordinators 🤝
AgentUp is the premier choice for brokers and agents seeking top-notch real estate transaction coordinator services and marketing support.
Our all-inclusive services streamline transactions, reduce errors, and ensure timely closings, enabling agents to focus on client acquisition and business growth.
We boast a seasoned, well-trained team of skilled coordinators who deliver outstanding transaction management, including:
- Thorough contract reviews and warm client emails with a clear checklist
- Seamless collaboration with lenders, title companies, and all parties for perfect alignment
- Efficient handling of title commitments, HOA documents, inspections, and tight deadlines
- Precise closing and walk-through planning, ensuring every detail is flawless
- Thoughtful closing gifts, utility setup assistance, thorough document finalization, and proactive client review collection to boost satisfaction
Unlike restricted providers, our TCs oversee the entire process—from contract initiation to post-closing tasks—providing a comprehensive solution for busy agents.
In today’s dynamic, competitive market, AgentUp stands out with affordable pricing, deep expertise, and an unwavering commitment to accuracy.
Pricing:
- Transaction Coordination – from $349 per month – far below average transaction coordinator costs
- Listing Coordination – from $200 per listing
To learn more, call (888) 982-4368 to speak to an AgentUp TC or schedule a TC consultation.
AgentUp Supports Your Marketing As Well
Our team at AgentUp offers additional services beyond transaction coordination, delivering added value to real estate professionals.
With more than a decade of experience in marketing, communications, and cutting-edge digital strategies, our highly-experienced team creates tailored solutions to attract clients and showcase properties with flair.
AgentUp’s marketing tools enable agents to excel in competitive markets, blending creativity with precision:
- Virtual tours
- Property websites
- Home flyers
- House portraits
- AI real estate photo editing
- And virtual staging
With so much to offer, AgentUp is your partner for success.
Are you ready to grow your business and increase revenue? Then go ahead and take the first step.
Sign up for a free AgentUp account today and experience the best real estate business support at unbeatable prices.
Thank you for reading this article on the cost of hiring a transaction coordinator and whether it’s worth it. Before you go, please take a moment and explore these related resources:
