What exactly is a Transaction Coordinator (TC)?
A transaction coordinator manages all of the paperwork and communication between different parties of a real estate transaction (agents, buyers/sellers, title, and lender) in order to ensure a successful closing. TC’s help agents remain in full compliance with their brokerage and state laws regarding documents and procedures. They also track all contract deadlines, monitor the status of loans, inspections/repairs, and appraisal and keep everyone informed and updated. A TC essentially assists you through the life of your transaction, serving as your dedicated support partner who is equally, if not more, committed to the timely and satisfactory completion of each transaction as you are.
How much are your services?
Please contact us to set up a quick phone call/video call/in-person meeting (your preference) so we can find out a little more about you, your business and your goals. We will be happy to provide you with a list of our prices at that time.
How do I pay for your services and when are they due?
There are a few options available:
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The easiest and preferred method of payment is to be paid at closing. We will assist you with ensuring this is added to the DA for your convenience:
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You can have our fee deducted from your commission total at closing.
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You can charge your client a transaction fee through ERTB/ERTS (in addition to the commission) which means ZERO out-of-pocket expense for you as the agent. It’s important that this transaction fee is tied to actual services rendered and costs incurred, and also that this is disclosed to sellers and buyers.
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What is the benefit of hiring you as in independent TC over an in-house TC or assistant?
One of the biggest benefits of hiring an independent TC is that it removes the risk and pressure of having to pay a permanent employee, especially during low volume months and seasons (I’m looking at you November - January). With Elevation Transaction Management LLC, there is zero overhead and you only pay for services if you close and get paid also. There is no need to deal with the hassle of payroll or benefits. Additionally, you will have the comfort of knowing that you already have a fully trained and experienced professional working on your files. The owner, who also serves as the Transaction Manager, is a licensed real estate agent with extensive experience in the industry. You won’t have to fear that your TC might quit just months after you poured a lot of time and energy into them…and leave you with a ton of transactions midway through the process.
What is the benefit of hiring as TC at all? Why should I not handle the transaction myself?
A TC can save you 19 hours per transaction, on average! What could you do with an additional 19 hours in your schedule? That is valuable time that you could be using to grow your business to the level you desire. Additionally, TC’s reduce errors and mistakes as they will be going through everything with a fine-toothed comb to make sure you are covered on all bases.
How will I know what is going on with my transaction?
During our initial onboarding meeting/call, we will find out your specific communication preferences and honor those. Some agents prefer weekly updates and request that they are copied in on every email while others like to be more hands-off and only step in when needed. We will always send out regular updates letting you know exactly where things stand with your files, as well as any impending deadlines or needs. You will never be in the dark about what is going on.