Transaction Coordinator's in Real Estate
Transaction coordinators are the worker bees of the real estate industry. The TC's provide the documentation for the realtor or real estate agents selling a home. Many transaction coordinators work with bulk REO's short sales and bank owned foreclosed properties. It is a business by volume so the more transactions the more they make.
One thing that the transaction coordinator must decide is “who to get the best disclosure source order form from” If the real estate coordinator is pressured by the realtor or agent to get s low cost property disclosure report for example can this affect the whole sale of the property? Yes, if the new home buyer
gets another natural hazard disclosure report with more information they can decide to decline the home purchase! The NHD standardized form can be used by the buyer to get out of a down payment, it is California real estate law.
Real Estate Transaction Coordinator Checklist
So what can a transaction coordinator checklist do to prevent both a selling issue and even later legal issues? The answer is to get it right the first time. A transaction coordinator checklist that includes a fully documented disclosure sources protects thee realtors, real estate agents , sellers and buyers from these type of non disclosure discrepancy problems.
Transaction Coordinator software saving time for investing in property
There are many real estate software apps for realtors, real estate agents and transaction coordinators. Software enables TC's to streamline their business with cloud apps, online marketing and real estate tech applications. At the end of the day any real estate investor buying significant numbers of single family homes, multifamily properties, apartments, residential or commercial real estate acquisitions will find the benefits of working with a top transaction coordinator.
Transaction coordinator licensing requirements
The California association of realtors
real website offers a CTC as a “certified transaction coordinator” however take note. the CAR website and association is not a governmental or California state board (DRE) association website. It is a private company sponsoring online advertising and for realtors to join. There are no set licensing laws for being a transaction coordinator. In many ways an unlicensed coordinator that manages paperwork extremely well will be better than someone that has an agent license but cannot work well with organizing potential paperwork problems.
We have seen many of the top broker that close many deals in Los Angeles use real estate coordinators for their organizational skills and not a their ”I have a license to sell real estate
The main point is transaction coordinators facilitate the necessary paperwork and addendum to real estate documentation needed for sales and disclosure. Finding the best real estate transaction facilitator is key for any fully successful real estate sales company.