A real estate transaction coordinator coordinates between a loan office, realtor, inspectors, and appraiser. Usually, a real estate transaction coordinator does all the administrative work, such as collecting documents from buyers and sellers, communicating with the realtor, preparing the documents, scheduling appointments, etc. However, a real estate transaction coordinator doesn’t write any contracts. Besides, you cannot rely on the real estate transaction coordinator for negotiations.

So, the question comes: Do you need a real estate transaction coordinator?

Should I Hire a Real Estate Transaction Coordinator?

4 Benefits of Hiring a Real Estate Transaction Coordinator

1.      Low Commission Fees

Unlike other stakeholders on a real estate team, a real estate transaction coordinator charges a low commission for each deal. Usually, a real estate transaction coordinator charges around $300 to $400, which is very affordable.

2.      Increases Team Efficiency

As stated above, a real estate transaction coordinator handles all of the administrative work. As a result, when you have a real estate transaction coordinator on your team, you won’t have to worry about handling administrative work anymore. Instead, you can invest that time into finding new clients and doing other real estate work properly.

3.      Smooth Communication

Usually, several parties are involved in a deal, and if there is a slight miscommunication, it can end the deal. Here, hiring a real estate transaction coordinator will help you out.

A real estate transaction coordinator can get everyone in your team on the same page. Besides, you can use a real estate transaction coordinator to speed up your real estate agents.

4.      Helps Keeping Everything Organized

If you struggle to do all the organizational work, hiring a real estate transaction coordinator will be an invaluable addition to your office. A transaction coordinator will bring all their expertise to keep track of all the important documents. Besides, whenever you need any access to any information or documents, a transaction coordinator will provide you with the information in no time.

Disadvantage of Hiring a Real Estate Transaction Coordinator

Too Much Reliability Can Risk the Quality

Often, when real estate companies hire a real estate transaction coordinator for their administrative work, they tend to heavily depend on them. But when you rely on someone for all the organizational work, it can backfire, especially if the candidate isn’t right.

Besides, as all human make mistakes, so do transaction coordinators. But in real estate deals, there is no place for mistakes. So, if you don’t crosscheck the provided information and completely rely on the real estate transaction coordinator, you may suffer in the long run.

Verdict on Hiring a Real Estate Transaction Coordinator

Undoubtedly, hiring a real estate transaction contractor increases overall productivity. However, the hiring for this job needs to be absolutely on point. Because if the coordinator messes up a deal, you will be the one who will be paying for the mistake. That’s why it is recommended to hire a transaction coordinator on a trial basis. If you notice good performance from the transaction coordinator, you can hire them full-time.