{"id":24642,"date":"2021-04-21T09:59:56","date_gmt":"2021-04-21T09:59:56","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/?p=24642"},"modified":"2021-04-21T10:00:34","modified_gmt":"2021-04-21T10:00:34","slug":"what-is-a-real-estate-transaction-coordinator-and-do-i-need-one","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/what-is-a-real-estate-transaction-coordinator-and-do-i-need-one\/","title":{"rendered":"What is a real estate transaction coordinator, and do I need one?"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<p><span style=\"font-weight: 400;\">Often, interested clients need more information about the property they are planning to acquire. The queries are not only limited to the price; they also want to know certain specifications.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While most realtors or brokers can provide answers to these questions, their availability is somehow the problem. A client cannot assume that the sales agent is always available at any time of the day.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Luckily, there are real estate transaction coordinators who can do the work for you. But, here is the big question: do I really need one as a real estate agent?<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A specific answer is yes. At one point in your career, you need assistance in dealing with clients.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But, before anything else, what is a real estate transaction coordinator?<\/span><\/p>\n<h3><strong>Real Estate Transaction Coordinator Defined<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">In a nutshell, a transaction coordinator is a virtual assistant (VA) but with specialized skills. This means they must be knowledgeable in handling real estate administrative tasks.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Technically, he or she should be able to perform most of the following:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Opening an escrow account for safer transactions with low risk for chargebacks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Scheduling property repairs and inspections<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Following up on documentation like contracts and other legal documents<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Scheduling meetings<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Managing emails and chats from the clients<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Helping with the smooth closing of the deal<\/span><\/li>\n<\/ul>\n<h3><strong>When do I need such an assistant?<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Well, having an assistant is not always necessary. It merely depends on the demands of the work.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For example, suppose you find yourself getting many paperwork and other administrative tasks. These tasks keep you from performing your usual responsibilities as an agent or family man and can toll your mental and emotional health.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">So, what can you do? Simple &#8211; <\/span><a href=\"https:\/\/www.realtrends.com\/hiring-a-transaction-coordinator-heres-a-list-of-duties\/\"><span style=\"font-weight: 400;\">hire an assistant<\/span><\/a><span style=\"font-weight: 400;\">. Do not waste your time anymore trying to finish the ad hoc tasks you have for the week.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Although these tasks are still deemed essential, a skilled or trained VA can still do the job as someone else who understands how the business works, operating on behalf of you and the company.<\/span><\/p>\n<h3><strong>Where to look for a highly-skilled real estate VA?<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Finding the suitable VA is just a few clicks away. You can find expert real estate VAs online if you know how to look for them through connections or groups.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Or, you can outsource for VAs near you just like hiring freelancers for your other tasks <\/span><a href=\"https:\/\/www.phixer.net\/\"><span style=\"font-weight: 400;\">like real estate photo editing<\/span><\/a><span style=\"font-weight: 400;\"> and photography.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">You should not worry about the work quality. Most of these VAs have years of experience and know what they do.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When looking for the best person for the role, it is best to include the following criteria.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Has a good command of the English language<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Comes from a reputable VA company, if hiring through the help of agencies<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Knowledgeable in using <\/span><a href=\"https:\/\/docs.microsoft.com\/en-us\/office365\/servicedescriptions\/office-applications-service-description\/office-applications\"><span style=\"font-weight: 400;\">MS Office applications<\/span><\/a><span style=\"font-weight: 400;\"> and other essential software<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Can work well despite the time differences<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Has a good personality and work ethics<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Knows how to multitask<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Can work under minimal supervision<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Has access to a stable internet<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Knows how to use a computer\/laptop<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Well-versed with the basic concepts of real estate marketing<\/span><\/li>\n<\/ul>\n<h3><strong>How much should I pay per month?<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">Your VA\u2019s rate depends on your agreement. You can choose to pay monthly, hourly, or weekly. Just ensure that you set the payment arrangement with the VA before doing the actual work.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the US, a transaction coordinator\u2019s monthly salary ranges from $2,000 to $3,000. However, this rate is subjective and is usually based on the VA\u2019s expertise and country.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Given this amount, some realtors prefer to outsource the work where the VA charges from $1,000 to $1,750 per month.<\/span><\/p>\n<h3><strong>What do I need to do before onboarding a VA?<\/strong><\/h3>\n<p><span style=\"font-weight: 400;\">If you hire someone skilled, you should not worry anymore about training. A quick briefing is all you need to do.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Otherwise, you should conduct training first to ensure that the VA can handle the tasks well with minimal or no errors.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the end, it is very reassuring to know that everything is in good hands despite you being busy with prospecting new leads or providing a wonderful client experience.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h6>Ref number:\u00a0THSI-2272<\/h6>\n","protected":false},"excerpt":{"rendered":"<p>Often, interested clients need more information about the property they are planning to acquire. The queries are not only limited to the price; they also want to know certain specifications. While most realtors or brokers can provide answers to these<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/what-is-a-real-estate-transaction-coordinator-and-do-i-need-one\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":81,"featured_media":24643,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[7,1,16],"tags":[],"wl_entity_type":[602],"modified_by":"THS","_wl_alt_label":[],"jetpack_featured_media_url":"https:\/\/www.thehouseshop.com\/property-blog\/wp-content\/uploads\/2021\/04\/Blog1-6.jpg","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/what_is_a_real_estate_transaction_coordinator__and_do_i_need_one_","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/24642"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/81"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=24642"}],"version-history":[{"count":1,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/24642\/revisions"}],"predecessor-version":[{"id":24644,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/24642\/revisions\/24644"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media\/24643"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=24642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=24642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=24642"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=24642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}