What is a Transaction Coordinator?
A real estate Transaction Coordinator functions as a liaison between real estate agents, clients, escrow companies and mortgage brokers during the process of a real estate sale.  We gather all the information and paperwork, follow up on contractual items and complete the final Broker file for the transaction.


What are the Benefits of the Transaction Coordinator?

• Risk Management:  For the Broker if there were to be a law suit
• For the Agent to be able to get paid
• Greater communication between parties to help the transaction go smoothly
• Time Management: Create more hours for you to do what you do best, sell real estate
  
  

Duties of a Transaction Coordinator

• Open escrow
• Complete timeline and transaction sheet, send to all parties (Escrow, Lender, Real Estate Agent)
• Send contracts to the lender with Escrow, Title and Homeowners Association information
• Set up calendar for contingency removals and close date
• Process all disclosures for the real estate Broker file using purchase checklist
• Communicating with the Agent about the status of the file
• Follow up on loan status
• Follow up on escrow status (confirm that Grant Deed and Escrow instructions are received and signed in escrow, follow up on HOA docs)
• Following up on contingencies and contingency removal
• Order Natural Hazard Zone report
• Follow up on closing with escrow, and make sure to call the Agent upon confirmation
• Follow up on all paperwork for the file and complete the file
• Follow up on loan documents in escrow
• Follow up on funding and recording of the loan with escrow
• Turn in in the Broker file for final review and release of Agent commission check
• Shared dropbox link to all paperwork
  
  

A Transaction Coordinator is never responsible for:

• Reviewing Draft instructions
• Reviewing Preliminary Title Report
• Negotiating repairs
• Negotiating any part of the contract