Why Is A Transaction Coordinator Important for Brokerages?

As a real estate broker, the role of a transaction coordinator may not seem important in the beginning. As you establish your business, it may even be valuable to you to manage transactions yourself, as a learning tool.

However, as your brokerage develops and grows its client base, transaction coordinators become a valuable and necessary form of support and process management. They can ease the workload of real estate brokers and ensure all processes run more swiftly and harmoniously.

The Importance Of A Transaction Coordinator

When people think about transactions, the first thing that comes to mind is a simple swipe or cash exchange. However, as realtors and brokers know, real estate transactions are much more complex and time-consuming. They require various paperwork, organization, management, and more.

Property transactions require you to organize viewings of properties with potential buyers, set up listings, and draft offers. They also involve negotiation processes, inspections, communication with clients, title company organization, and more.

These activities multiply with each client or property you have. With these tasks on top of other roles fulfilled by a real estate broker, it can be overwhelming. Without a coordinator to focus solely on managing these and other transaction processes, you compromise the quality of your service.

A coordinator can ensure all transactions go accordingly and ease the work of a real estate broker. After all, a broker’s best asset is its agents. And a coordinator frees up agents’ time so that they can focus on getting more transactions, growing your clientele, closing deals, and more!

The Benefits Of A Transaction Coordinator For Brokerages

The role of a transaction coordinator is to liaise with all the parties involved in a specific transaction. This includes the buyer, broker, and seller. Some coordinators also take on the work of creating new listings and other tasks. These are some of the benefits you gain from their support:

Save Time

Real estate transactions have tons of paperwork, file management, and disclosures that need attention. While each transaction varies, handling these and other aspects of the process can take ages. A coordinator eliminates the work agents have to do for transactions, thereby saving them time. Agents can focus this time on other, more important tasks.

Double-Check Details

Coordinators also oversee all details related to transactions, including paperwork, payments, legal compliance, and more. Your brokerage never has to worry about missing important deadlines, forgetting client requests, utilizing wrong info, and so on.

Minimize Liability

Thorough document checking can help you reduce transaction flaws, protecting you from liabilities stemming from poorly-managed files and errors. Transaction coordinators also ensure that all documents and files are fully compliant. So, if you get sued, have to field complaints, or undergo an audit, this decreases potential liabilities against your agents.

Cost-Effective

The last major benefit of a coordinator is that they are affordable to hire. They are independent contractors, which means you can pay them as you need them.

Final Thoughts

At TotalBrokerage, we offer support to brokerages through our transaction features. Our comprehensive transaction toolkit offers many features including document management, electronic signatures, customer relationship management, and more.

With a coordinator and our software working hand-in-hand, you’ll never have to worry about your transaction processes again!

Our All-in-One Real Estate Brokerage Software Solution Features:

Lead Management, CRM, Marketing, Transaction Management, E-Signature, Commissions & Accounting, Reporting, Agent Onboarding, Human Resources, Intranet, API & Zapier, Auditing & History