What does a Transaction Coordinator do?
Published 3 min read
A transaction coordinator is responsible for ensuring that all aspects of a real estate transaction are completed in a timely and efficient manner. This may include coordinating with buyers, sellers, lenders, title companies, and real estate agents to ensure that all paperwork is in order and that all deadlines are met. The transaction coordinator may also be responsible for scheduling inspections, preparing documents for closing, and communicating with all parties involved in the transaction.
Transaction Coordinator job duties include:
- Reviewing and approving transactions
- Monitoring and managing transaction progress
- Communicating with clients and real estate agents
- Managing deadlines and paperwork
- Ensuring all parties involved in the transaction are coordinated
- Reviewing and preparing documents for closing
- Tracking conditions of the transaction
- Maintaining records of the transaction
- Assisting with post-closing activities
- Providing customer service throughout the transaction
Transaction Coordinator Job Requirements
There are no formal education requirements for becoming a transaction coordinator, although many in the field have at least an associate's degree. Some companies may require certification from a professional organization such as the National Association of Realtors. In terms of experience, most transaction coordinators have worked in the real estate industry in some capacity before taking on this role.
Transaction Coordinator Skills
- Communication
- Organization
- Time management
- Attention to detail
- Customer service
- Writing
- Research
- Negotiation
- Contract law
- Real estate law
- Basic math
Related: Top Transaction Coordinator Skills: Definition and Examples
How to become a Transaction Coordinator
A transaction coordinator (TC) is a professional who assists real estate agents with their paperwork and helps to ensure that transactions close smoothly. If you are detail-oriented, organized, and have good customer service skills, becoming a TC may be the right career move for you! Here is what you need to know about how to become a transaction coordinator:
1. Get your real estate license. In order to become a TC, you must first obtain your real estate license. This will require completing pre-license education courses and passing the state exam.
2. Find a broker. Once you have your license, you will need to find a broker to work with. Ask around for recommendations or look for job postings online.
3. Complete training. Many brokers offer training programs for new transaction coordinators. This will help you learn the specific software and systems that your broker uses, as well as how to handle different types of transactions.
4. Stay organized and keep communication open. As a TC, it is your job to keep track of all the details of a transaction and make sure that everyone involved is on the same page. Good communication and organizational skills are essential in this role!
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