Many sellers don’t know that you don’t have to hire a traditional real estate agent or broker to get quality representation in a sale. Instead, investors and FSBOs can hire a Transaction Coordinator (TC), a real estate expert who assists with offer negotiation, escrow and closing, for a fraction of the cost of an agent. Read on to learn seven big benefits of hiring TC to help you through the selling process.
TCs keep details and deadlines organized and on track:
TCs supervise every stage of a home sale, from a signed contract to closing. Chances are, you’re not intimately familiar with all the deadlines, timelines and clauses that need to be followed during a sale. TCs are – it’s what they do! Letting your TC worry about keeping things moving along will make the whole selling process a lot less stressful for you.
TCs handle all the time-consuming work:
There is a lot of paperwork and administrative tasks involved in executing a real estate sale. Managing the process is time consuming. That’s why it’s a good idea to let your TC handle it for you. Doing so will free up your time to focus on packing, preparing for new tenants or whatever it is you need to get done before the sale.
TCs build detailed transaction files:
During a real estate transaction, lots of sensitive data is exchanged between the buyer, seller, lender and so on. Your TC will safely and securely manage all confidential information. They are also responsible for accurate record-keeping, which can be critical if a disagreement or a lawsuit emerges.
TCs can work from anywhere:
One of the great things about a TC is they can provide virtual support. As long as you have access to a computer and phone, your TC can literally be anywhere with an internet connection, managing your real estate sale. That said, you’ll want to hire a TC with experience in your state, since rules and regulations do vary.
TCs serve as your advocate:
If a buyer is slow to send paperwork, a lender is being unresponsive or there’s any other hiccup encountered in the sale process, your TC will go to work to get things moving again. Since they know what deadlines have to be met when, they can take the appropriate actions to quickly resolve any speed bumps that pop up along the way.
TCs can answer any questions you have throughout the sale:
Transaction coordinators have extensive experience with the home sale process and can serve as the go-to person to address any of your questions or concerns. Even if your question isn’t related specifically to a part of the process they’re handling – ask! As a real estate expert, they’ll most likely either have an answer for you or will be able to tell you the best person to direct your question to.
TCs serve as a liaison with multiple parties:
There are a lot of people involved in a real estate transaction, and it’s time consuming to be responsible for communicating with multiple parties at various stages of the process. Your TC will serve as your liaison between you and the buyer, the buyers agent, the title company, the escrow agent and so on. That means you get to delegate the tedious task of managing back and forth communications and you have one point of contact who will keep you in the loop on all important updates and progress.
Savvy flippers, investors and homeowners turn time and time again to real estate transaction coordinators for smooth transactions at scale. Want to learn more? Get all the details on what TCs handle here.