Real Estate transaction coordinators help keep us out of trouble

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Real Estate Agent with Alain Pinel BRE 01367196

Real Estate transaction coordinators help keep us out of trouble

We may seethe, complain, throw a hissy fit when transaction coordinators remind us what we’re missing in terms of our paperwork. And we may gnash our teeth when we don’t get paid if the file isn’t complete. paperwork

According to CAR (California Association of Realtors), here’s a Definition of a Transaction Coordinator: A person who assist the agent and broker in the processing of the real estate file. Gathering all information, paperwork, and following up on the contractual items. Putting together the final Broker file of the real estate transaction.

 

Here’s the job description for transaction coordinators. According to this writer, they are an “underutilized asset.


Give our transaction coordinators kudos for doing their job-- which is making sure we have all our disclosures and other communications complete and on record.

Think of them in another way as the lawsuit-prevention department.
In a litigious society where people are so quick to threaten a lawsuit, it is the natural course of business to CYA (Cover your A__).  Because we are so busy trying to make deals, we may sometimes ignore the details. That’s where our transaction coordinators come in. They keep us on the straight and narrow. Check and double check.

Cheers to all you transaction coordinators. We appreciate you!

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Rainmaker
767,637
Winston Heverly
Winston Realty, Inc. - Atlantis, FL
GRI, ABR, SFR, CDPE, CIAS, PA

There was only once in my 28 years that I had one ever since than I've done my own. There is something to be said about knowing and doing your own files.

Jul 22, 2012 12:05 PM #1
Rainmaker
662,238
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

Winston -- In my case, it helps to have someone to double check. When I write something, it's difficult to proof read my own work. in my agency, many of us do our own files in ...but we also have a transaction coordinator monitoring what we do. And if it's not complete, the broker doesn't sign the check and we don't get paid.

Jul 22, 2012 12:09 PM #2
Rainmaker
647,287
Barbara Hensley
RE/MAX Properties - Rockwall, TX
Homes for Sale in Rockwall County, Texas

Patrica - I have not used a transaction coordinator yet either I are my assistant does it all.  Thanks for the post  a great read.  I am going to consider this so that our time could perhaps be better spent in other areas.

Jul 22, 2012 12:10 PM #3
Rainmaker
662,238
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

Barbara ---  having an assistant is nearly if not better than having a transaction coordinator. But it helps to have someone looking out for us in this manner.

Jul 22, 2012 12:12 PM #4
Rainmaker
177,110
Erv Fleishman
Realty Associates - Boca Raton, FL
Luxury Prop Specialist Realty Associates

Nothing wrong with another set of eyes and ears. 

Sometimes we are blind or deaf to the obvious.

Jul 22, 2012 12:40 PM #5
Rainmaker
428,538
Jim Patton
Century 21 M&M - 209-633-2839 - Turlock, CA
Realtor - Stanislaus & Merced county Realtor.

Pacita - I agree with you.  It's good to have that extra set of eyes on the contract to make sure all is done correctly.   I use a TC on all my transactions.

Jul 22, 2012 01:16 PM #6
Rainmaker
662,238
Pacita Dimacali
Alain Pinel - Oakland, CA
Alameda/Contra Costa Counties CA

Erv --- yep, sometimes we are totally oblivious

Jim --- as they say, "the devil in the details"

Jul 22, 2012 01:27 PM #7
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Rainmaker
662,238

Pacita Dimacali

Alameda/Contra Costa Counties CA
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