Credit is one of the most important parts of your home loan application. When applying…
It takes a whole team of people to make a real estate deal go from start to finish. Even new home buyers or sellers often expect to work with a real estate agent, a loan officer, and other experts in their fields, such as inspectors or appraisers. One of the optional, but extremely helpful, members of the team is the real estate transaction coordinator.
The real estate transaction coordinator often works for the real estate agent on their behalf to help things move along with the real estate transaction. Keep in mind that this individual is not a licensed real estate agent (and does not need to be in most cases), but that means there is a limit to the actual work they can perform. Not all real estate agents use a transaction coordinator, but if yours does, here is what you can expect.
The transaction coordinator often handles the administrative work of the real estate transaction. This can include preparing and submitting purchase documentation, gathering information or documentation from you (the buyer or seller), communicating with other real estate agents, and more. They often coordinate with other members of the team, such as the inspector or appraiser, to schedule and follow up on appointments.
Having a transaction coordinator as part of the team is not required, but it does free up your real estate agent to spend his or her time working directly with you, the client. By taking some of the administrative tasks off their plate, they may be able to better meet your real estate needs overall.
Your real estate agent is still the lead member of your team who is working on your behalf (either as the buyer or seller). The transaction coordinator is there to help follow up on some of the details and make sure everything is communicated efficiently. This valued member of the team can be a driving force behind getting your real estate deal to closing on time.