A real estate transaction coordinator helps a real estate agent close home sales. They support agents with paperwork and processes starting when an offer is accepted. Typical responsibilities include reviewing contracts, ordering title services, scheduling inspections and other key events, updating clients, and collecting signatures.
TC is the commonly used acronym for real estate transaction coordinators.
Brokerages hire transaction coordinators to ensure paperwork and payments follow all necessary processes. Some brokerages offer transaction coordinators to attract agents who want high-quality service. Other brokerages charge for access to internal transaction coordinators. These fees either cover costs or generate a profit from these services.
Real estate sales transaction coordinators are often full-time salaried employees hired by a brokerage. In other cases, they are shared by one or more agents or agent teams. Some transaction coordinators charge per transaction they support rather than taking a salary. Not all brokerages and agents employ or use transaction coordinators.
Transaction coordinators are not necessary in a transaction. An an agent can handle transaction tasks themselves. But a transaction coordinator can ensure that the closing experience for a client is seamless and complete . Many agents handling multiple deals at once prefer to focus on their clients instead of paperwork. Many agents who aren’t tech savvy or are newer to the business use transaction coordinators ensure deal information is properly entered into brokerage accounting systems.
Transaction coordinator services can cost as little as $250 and as much as $1,000 per transaction.
Transaction coordinators do not need to have a real estate license. But some agents and brokerages prefer that they do have or get one. With a real estate license, a transaction coordinator can also assist on showings. The can also answer more-detailed questions on real estate that clients may have.