Real Estate Tips
How To Find a Transaction Coordinator
Outsourcing TC sercives is the move top agents are making. Learn about the most convenient ways to find a transaction coordinator today.
Delegating transaction coordination is an awesome strategy for increasing productivity. Building a great partnership with your TC will help you achive that.
When growing your real estate business, one of the first set of tasks that you’ll likely want to delegate is transaction coordination. This is an awesome strategy for leveraging your time and creating space to focus on making more sales. However, it’s not as easy as just handing over the file and collecting a check at the end of the deal. While your TC is there to handle the heavy lifting and help move the deal to closing, they still need your help to be successful. There’s nothing more important than learning how to build a successful partnership with your transaction coordinator.
What would you do with an extra 16 hours?
Spend more time on the things that matter most.
Opposites Attract
The first thing to understand when working with your TC is that you both see the world very differently – and that’s a good thing! If you’re anything like me, you are likely a “bottom line” type of person. You move fast and expect quick results. Your TC, on the other hand, probably values following a process, paying attention to details and doing things the “right way.” Although it may seem counter-intuitive, these differences are what make you and your TC such a great team! It’s particularly helpful to keep this in mind if you find yourself struggling to see eye to eye with your TC.
How to Help Your TC
If you’ve never hired a transaction coordinator before, it can be hard to discern what you need to do in order to make this partnership work. So, I took it upon myself to talk to transaction coordinators in my network. I asked them what agents could do to make a TC more successful, and what they want you to know about working with them! Surprisingly, they all listed a variation of the following points:
1. Set clear expectations.
This was the #1 request of most of the TC’s I spoke with. They need to know what you expect so they can meet your expectations! Before you begin working with a transaction coordinator, talk to them about their process. Ask what expectations they have of you and share your expectations as well. Countless problems can be avoided by simply understanding what the other person expects.
When you start working with a TC it’s tempting to jump right in and just hand over your file. While you may be eager to get started, you and your TC need to slow down and get to know each other.
“When you rush the onboarding process then no one knows what the expectations are and everyone is left misunderstood and upset.” – Michelle Spalding, TC business owner
2. Communicate.
Your TC isn’t a mind reader. They don’t know what you don’t tell them. CC them on all relevant emails, send them status updates and respond when they communicate with you. When setting expectations, have a plan for how the two of you will communicate. Do you prefer to text? Do you like short, bullet point lists? Tell your TC so that you both can communicate as effectively as possible.
“There is no “the usual way” in real estate. Stop thinking that there is. Just let them [your TC] know what you want, so they can let you know if they can deliver.” – Jen Stalcup, TC business owner
3. Do your part.
Fill out and turn in your paperwork immediately. And, here’s another great tip – follow a consistent method for labeling your documents. Think about how much more difficult things can become when all the files are labeled differently!
You should also respond to questions promptly and follow through on promises. Your TC needs you to do your job so that they can do theirs. If you can’t do something on time, let them know so that they can work with you to move things forward. Your TC is happy to step in and help you out when you’re falling behind.
4. Express gratitude.
Your TC wants to do a great job for you. They work hard doing the stuff that you don’t want to, so remember to say, “thank you.” Nearly every TC I surveyed for this article said that hearing “thank you” was incredibly important to them.
“Let them know how much you appreciate them. Most of us will go above and beyond when we know someone values what we do for them.” – Michelle Spalding, TC business owner
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Focus on What’s Important
I’ll add one final point to this list that I think is worth remembering in all of our interactions: be kind. Remember that the person on the receiving end of your email or voicemail is a human, not a machine. He or she is working hard to help you close your deal, but sometimes humans make mistakes or have bad days.
When you practice kindness as you power through your day, you’ll find that your kindness will be paid back to you in spades.
Well, there you have it. Four simple (but not always easy) things to keep in mind when learning how to build a successful partnership with your transaction coordinator.
This article was written by Vanessa Rosenblum, President and Founder of Pro R.E.A. Staffing – the industry’s lead recruiting firm for real estate teams and brokerages. With over 15 years of experience working with small business owners and entrepreneurs, Vanessa takes pride in helping her clients hire talented employees so they can focus on doing what they love.