Many US real estate agents choose to work with remote transaction coordinators from the Philippines. Most virtual transaction coordinators are used to working through the night to compensate for the time zone differences. The bottom line is that you can hire world-class virtual transaction coordinators at a fraction of the charge you’d pay for one in the US.Īlso, the experience will seem seamless and easy from the US perspective. Today, you can roughly expect a US-based transaction coordinator to charge $40 to $50 per hour, compared to $7 to $12 per hour if you hire a transaction coordinator from the Philippines, India, or Vietnam. How? By working with a virtual transaction coordinator! You can likely save a lot of money, while also securing an extremely talented and highly experienced transaction coordinator. Now, before we go any further, here’s a little secret. Others charge by the hour or a flat fee per transaction. Some transaction coordinators charge a percentage of the agent’s commission from the sale. Many real estate sales professionals contract with a transaction coordinator in an ongoing, part-time arrangement, adding more hours when there are more sales to close. Transaction coordinators can be hired full-time, part-time, or even on a transaction basis. It will depend on where the transaction coordinator is located, how experienced they are, and their specific role and tasks. So, now that we understand what a transaction coordinator is and does, let’s turn our attention to our main question – what do they charge for their services? How Much Does a Transaction Coordinator Charge?īasically, there’s no standardized pricing system for a transaction coordinator. If you want to learn more on this topic, please read, the value of a transaction coordinator to a real estate agent. Therefore, transaction coordinators provide a strong competitive advantage to agents who can better leverage their time focused on income-producing tasks. Besides, they practically pay for themselves when you factor in increased sales.
Not having to worry or attend to such tasks allows the agent to focus his or her time where it matters the most - securing new clients and growing their business. Phone calls, emails, and regular follow-ups with mortgage lenders, home inspectors, title company staff, surveyors, and appraisers - these tasks take up more time than agents tend to realize.
Join PhotoUp Learn More What Exactly Does a TC Do?Ī transaction coordinator takes time-consuming tasks off your plate. Now, let’s take a closer look at what a transaction coordinator actually does. Since they have no agency standing with either side of the transaction - their role is simply to shepherd the sales process through to closing. However, they do not have a contractual relationship with either the buyer or the seller, and therefore are impartial in their work. Many transaction coordinators are licensed real estate professionals. Your transaction coordinator handles all the busy work, so you can be out in the field meeting new clients, showing more properties, and selling more homes! Much of the work involved in any real estate transaction occurs after the purchase agreement is signed.Īn agent’s time is better-spent onboarding new clients instead of talking through the details with title offices, mortgage lenders, and other vendors and professionals involved in getting transactions closed.Ī transaction coordinator takes over the process once a purchase contract is signed, making sure every sale closes on time and without problems. So first, let’s take a look at what a transaction coordinator (TC) for real estate is. In this post, we’ll share what a transaction coordinator is and does, and how much a transaction coordinator charges. This frees up valuable time so they can go out and secure more clients. Many top-selling agents hire transaction coordinators to manage the closing details of already negotiated sales. Let PhotoUp Help You Find the Right Transaction CoordinatorĪre you looking into working with a transaction coordinator, but wondering how much they charge?.How Much Does a Transaction Coordinator Charge?.What Is a Transaction Coordinator for Real Estate?.
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