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Transaction coordination is an integral part of my real estate sales business.  Getting each sale to closing requires significant time and focus, which is better spent finding new clients. 

Recently, I’ve been working with a virtual real estate transaction coordinator (TC) instead of an in-office worker. The benefits of going virtual have been impressive. 

I’m not the only agent doing this. The benefits are causing the industry to shift to virtual TC. 

In this article, I’ll explain the reasons for this trend and why I went virtual for real estate transaction coordination services. 

But let’s start by examining the value of real estate transaction coordination services to brokers and sales agents.  

The Value of Real Estate Transaction Coordination

The Value of Real Estate Transaction Coordination

Transaction coordinators  (TCs) are invaluable assets in the real estate industry. They take the reins after purchase contracts are signed, managing the endless details of the closing process.

Many are surprised to learn that the majority of work in real estate occurs after the initial contract signing. Closing a single deal can consume 20 to 40 hours of an agent’s time, encompassing tasks such as:

  • Preparing and signing contracts and disclosures
  • Scheduling and responding to home inspections
  • Coordinating with title companies for property transfers
  • Providing information to mortgage lenders and monitoring loan processes
  • Arranging appraisals and surveys
  • And much more

Even in smooth transactions, these tasks can take 3-4 weeks and require significant time investment, especially in communication.

Real estate agents can focus on revenue-generating activities like prospecting for new clients by delegating the closing process to a TC. And every real estate agent knows the importance of keeping the sales pipeline open and full. 

In the next section, I’ll explain why I went virtual for my real estate transaction coordination needs. 

Why I Went Virtual for Transaction Coordination

Let me start by saying there is nothing wrong with having an in-office transaction coordinator. It’s just that going virtual was so much better.

Let me explain.

1. Virtual Transaction Coordination Cost Less

Virtual Transaction Coordination Cost Less

Virtual real estate transaction coordination offers significant cost advantages compared to traditional in-office models. Here’s why:

  • Global Talent Pool: Virtual TCs often come from regions with lower labor costs, allowing for competitive hiring
  • Reduced Overhead: Virtual workers eliminate the need for office space, supplies, and expensive employee benefits

By going virtual, I also saved money on office and equipment expenses. For example, consider the following advantages:

  • Flexible Work Arrangements: Virtual TCs work remotely, reducing the need for physical office space and related expenses
  • BYOD Model: Virtual workers often use their own devices, further reducing overhead costs

There’s one more cost-saving area. I saved time and money going virtual because onboarding and training were easier. 

Further, I’ll likely be doing less onboarding in the future since there’s less turnover with virtual workers. 

  • Higher Job Satisfaction: Virtual TCs often report higher job satisfaction, leading to lower turnover rates
  • Reduced Hiring and Training Costs: Virtual TCs are 55% less likely to leave. Lower turnover rates mean fewer resources spent on recruitment and training

By leveraging the power of virtual transaction coordination, I significantly reduced costs while maintaining high levels of productivity and efficiency.

Next, let me share how I had a larger and more diverse pool of TCs to choose from.

2. A More Diverse Talent Pool

Why I Went Virtual for Transaction Coordination

I gained access to a global pool of highly skilled talent by embracing virtual transaction coordination. 

This expanded talent pool allowed me to find well-trained professionals with strong work ethics, often at a fraction of the cost of local hires.

For example, many virtual TCs are:

  • Highly Educated: Possessing college degrees or even advanced degrees
  • Tech-Savvy: Well-versed in the latest technology tools
  • Multilingual: Fluent in English and often proficient in other languages
  • Culturally Competent: Understanding of US real estate practices and time zone differences

I hired a virtual TC fluent in English with a master’s degree and years of real estate experience at a more affordable rate than a less experienced local candidate.

In the next section, we’ll discuss why virtual TCs are often easier to manage than in-office employees.

Market Leading

Real Estate Transaction Coordinators

Hand off your transactions, media, and marketing to a real estate TC.

3. Virtual TCs Are Easier to Manage

Virtual TCs Are Easier to Manage

While it may seem counter-intuitive, managing a virtual Transaction Coordinator (TC) is often more efficient than managing an in-office worker. 

Here are a couple of reasons why:

  • Pre-trained Professionals: Most virtual TCs are experienced professionals who require minimal onboarding
  • Flexible Work Arrangements: Virtual TCs can easily adjust their work hours to align with your specific needs

Additionally, most virtual workers are used to managing themselves. With a virtual TC you don’t have to worry about keeping them busy at the office. 

These factors contribute to increased productivity and reduced management overhead.

Managing a virtual TC is straightforward and can be accomplished using everyday tools:

  • Email: For detailed instructions and questions
  • Text Messages: For quick updates and reminders
  • Video Conferencing: For regular meetings and check-ins

You can effectively manage your virtual TC without sacrificing efficiency or productivity by leveraging these tools.

4. Virtual Transaction Coordination – An Investment That Pays for Itself

Virtual Transaction Coordination - An Investment That Pays for Itself

Investment in virtual transaction coordination often pays off through increased sales and improved productivity. Let’s explore how:

  • Time is Money: By handling administrative tasks, TCs free up agents to focus on prospecting and closing deals. This increased focus can lead to more transactions and higher earnings
  • Efficiency Boost: Streamlined processes and reduced errors result in smoother transactions and happier clients. This can lead to referrals and repeat business
  • Cost Savings: While there’s an initial investment, TCs can help avoid costly mistakes and save time on administrative tasks, ultimately boosting profitability

Research suggests that successful agents should spend around 20% of their time meeting potential clients. A TC can optimize administrative tasks, allowing agents to dedicate more time to client interactions.

A single additional sale can often cover the cost of hiring a TC. The potential for even greater growth is significant.

My experience strongly shows that the benefits of virtual transaction coordination are clear: increased efficiency, reduced costs, and enhanced productivity.

So, there’s only one more thing to share with you. Where to find the best virtual real estate transaction coordination services. 

Market Leading

Real Estate Transaction Coordinators

Hand off your transactions, media, and marketing to a real estate TC.

Go Virtual for Transaction Coordination With AgentUp

AgentUp specializes in virtual transaction coordination. 

AgentUp Virtual Transaction Coordinators
AgentUp Virtual Transaction Coordinators

The company has connected real estate agents and brokers for the past decade with highly skilled virtual transaction coordinators. 

Their experienced Transaction Coordinators (TCs) are dedicated to streamlining your real estate transactions and ensuring smooth closings. 

The company offers a comprehensive suite of TC services, including:

  • Contract Review: Ensuring legal compliance and accuracy
  • Communication Management: Coordinating introductions and keeping all parties informed
  • Title Work: Managing title searches and related processes
  • Inspection Coordination: Scheduling inspections and distributing reports
  • Deadline Management: Tracking and reminding all parties of crucial deadlines
  • Closing Coordination: Scheduling closings and property walk-throughs
  • Client Appreciation: Selecting thoughtful closing gifts
  • Utility Management: Providing clients with essential utility information
  • Client Testimonials: Soliciting Google reviews and following up on referrals

Are you ready to grow your real estate business in the months ahead?

Partner with AgentUp to boost your sales and streamline your workflow. Get started today!

Schedule a free consultation call today to discuss how AgentUp can become your partner for growth.

AgentUp Virtual TCs Are Also Real Estate Marketing Specialists

AgentUp Single Property Websites
AgentUp Single Property Websites

AgentUp’s virtual transaction coordinators are more than just closing experts; they’re highly-trained, experienced real estate marketing professionals.

All AgentUp TCs are cross-trained in marketing. When they are not managing your closings, they ramp up your marketing efforts by doing the following:

  • Build brand awareness: Increase your visibility in the local market
  • Establish credibility: Showcase your expertise and professionalism
  • Differentiate your business: Stand out from the competition with unique marketing strategies
  • Enhance your online presence: Improve your website and social media profiles
  • Implement effective lead generation campaigns: Attract qualified buyers and sellers
  • Create engaging content: Share valuable information and build relationships with your audience

Moreover, AgentUp virtual TCs have the latest, innovative, cutting-edge digital marketing tools to put to work growing your business:

Therefore, do yourself a favor. Sign up for a free AgentUp account and explore all that we offer. Setting up an account takes less than a minute, and there’s no commitment.

Thank you for reading this article on why I went virtual for real estate transaction coordination services. If you enjoyed this article, then please take a moment and explore these related resources:

Gregory Gronbacher

Real Estate Sales Agent / Professional Blogger

Gregory is a real estate sales agent and a state-certified instructor of real estate licensing and law. Originally from New York City, he's called Grand Rapids, Michigan home since 1995.

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