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What Can A Transaction Coordinator Do For You?

In this tele-seminar Michelle explains why systems are important to our business and how a Transaction Coordinator can be your best ali in getting leverage and increasing your sales.

This short but informational call is perfect for anyone wanting to learn more about what a TMC does and how a transaction coordinator may be just what you need to help you get more out of your day.

Anyone you bring into your business should be vetted completely, which often means asking some tough questions that are important to ensuring you’re receiving what you need to be successful. Like Realtors, Doctors and Hairdressers, the variety of quality and service are often different with each individual in that profession. Just because someone calls themselves a “Transaction Coordinator” means that they will be delivering the samelevel of service that you’d expect from contract to close.

Here are some questions to consider asking anyone you’re interviewing to be your Transaction Coordinator (TC) along with answers as they relate to the services here at TMC.

  1. Are you a full-time Transaction Coordinator or do you also list and sell real estate or work in another capacity in a real estate office?

    If your TC isn’t devoting all of their time to coordinating then things will get missed. You need a TC who is available during normal business hours to take care of the needs of your transaction and your clients, anything less than that should be unacceptable.

    Here at TMC we work Monday through Friday 9:00am to 5:00pm and are always available by phone, email or text during those hours.
  2. What kind of checklist system(s) do you have in place to ensure that all details are covered?

    Without a checklist it’s like setting out to drive from Florida to California without a map by simply “heading West”. Sure you could eventually make it there but the potential for problems along the way, delays or even failure are greater when you don’t know exactly where you are going. A checklist (map) is imperative to the success of any business and real estate is no exception.

    Here at TMC we take a proactive approach to coordinating working from a checklist rather than waiting on our agents to ask us to do something. As a matter of fact we pride ourselves on staying a step or two ahead of our agents. Just about the time you’re thinking of something we’ll be giving you an update on it because we’ve already handled it. We’ll use your checklist and ours to ensure that everything is taken care of to provide the best experience for you and your clients from contract to close.
  3. Which of the following aspects of the contract to close process do you cover:

    Here’s a few examples to consider when interviewing a TC for your business:

    • Do you have an online paperwork filing/storage?

      Keeping things organized and available is essential to your success as well as the success of your TC. The work of the TC should be totally transparent to you and available for you to review at any time.

      At TMC we provide you with an online access to your files in realtime that you can view from your desktop or phone, anytime.
    • Will you be communicating with the co-op agent?

      Your TC should introduce themselves as part of YOUR Team and contact the co-operating agent at the onset of the transaction and throughout the entire transaction. One of your goals in having a TC should be to help you maintain communication with all parties on the way to closing.

      At TMC we do this and keep you informed throughout the entire process.
    • Will you be communicating with the lender and what will you be tracking with them?

      Your TC should contact the lender shortly after receiving the file from you and introduce themselves as YOUR coordinator. Additionally they should let the lender know that they will be checking in with them on the appraisal, loan commitment, clearing conditions, the clear to close and the loan docs being sent to the closing agent.

      At TMC we do this and keep you informed throughout the entire process.
    • Will you be communicating with the Title Agent and what will you be tracking with them?

      Your TC should be contacting the closing agent or title company as soon as they receive your contract. Making sure that they have the fully executed contract, his/her contact information and then checking in along the way to ensure that there are no title issues. If there are any, your TC should be tracking the resolution of them and jumping in if necessary to help out.

      At TMC we do this and keep you informed throughout the entire process.
    • How will you be communicating with the insurance agent ?

      Your TC should be making sure that your buyer has made arrangements to get the necessary insurance needed prior to closing. They should be using the list of providers that you recommend and offering assistance in providing any necessary documentation to the insurance agent needed to facilitate the buyers getting coverage.

      At TMC we do this and when we’re on the seller side of your transaction we’ll check with the buyer’s agent to see if they have done this or need any help.
    • Explain how you will communicate with my buyer/seller clients.

      One of the FIRST steps your TC should do is contact your buyer or seller and introduce themselves as part of YOUR team. Of course you’ve already let your client know to expect their call and that your TC will be in touch frequently throughout the entire process from contract to close.

      At TMC we do this and always reference you and your team (if applicable) as we’re communicating. We KNOW that it’s important to deliver the BEST service to your clients to ensure referrals for you.
    • Will you be scheduling home, termite, septic and any other necessary inspections?

      Coordinating inspections can be like herding cats! Your TC should be making the calls with the parties involved to coordinate that and then following up with an email to confirm the date, time and inspector info as well as who will be providing access.

      At TMC we know the importance of getting the inspections scheduled AND the reports delivered within the time agreed upon in the contract. Your coordinator will make scheduling the inspections a priority to ensure compliance.
    • Will you be scheduling final walk through and closing?

      Your TC should coordinate the pre-closing walk-through with your buyer/sellers and yourself as well as the closing. Additionally your coordinator should make sure that for closing your clients know where to go, what to bring and who needs to attend.

      At TMC we will make sure that we coordinate these appointments with your clients and your schedule. If your client will not be attending closing and is signing as a mail away, we will ensure that the closing agent gets the docs out to them timely and then follow-up with your client to be sure they return them promptly.
  4. What happens when you are out sick or on vacation?

    One of the many reasons you should have a TC on your team is to help you leverage your time so you can focus on lead generation and lead follow-up. Being sick happens and vacations are a MUST to maintain sanity yet if your TC doesn’t have someone to back her up, the work will fall back onto your lap when they are out.

    Here at TMC we provide a team approach for our agents. While you are always assigned the same coordinator to work with, if they are out sick, on vacation or are having a “hair on fire Friday” they know they can call on another team member to help cover for them. We will make sure that the work needed to coordinate your transactions is done by TMC and that it doesn’t fall back you during your coordinators absence.
  5. How many files do you handle at one time?

    Your TC should have enough transactions going at one time that she has enough income to support her needs but not too many that she can’t keep up with the demands of each one of them.

    Here at TMC we keep our coordinators at about 25-30 transactions per month. In the summer this number goes up a bit as our agents are even busier and it’s less in the winter. We know that anything more than that would dilute the quality of the service we provide and could have a negative impact on your business and ours.
  6. Where is your office located? Is it private?

    While having a TC in your office may initially seem like a good idea, unless they are really good at shutting their door and blocking distractions they will be like a fish in a fishbowl and everyone will want to stop by to chat about their transactions, or other things happening in business.

    Your TC needs to focus, they need a quiet place to work and few if any distractions.

    Here at TMC we all work remotely from our quiet fully equipped home offices with little interruptions from anyone other than our clients and the needs of the transactions we’re handling.

FAQ’s

It Takes An Average Agent More Than 19 Hours To Coordinate A Transaction From Contract To Close.*

Gone are the days where you miss a sales opportunity or wake up at night wondering if something got handled, or worse yet, awaken at 4:00am and recall that you forgot to do something on one of your files that has a pending contract.

*According to the white paper report by Clarity Consulting

  1. What is Transaction Management Consultants?

    Transaction Management Consultants, LLC (TMC) is an independent full-service transaction coordination company with a team of in-house coordinators dedicated to servicing you and your customers. We are a privately held company with no ties to any other service provider. Our goal is to provide you and your clients and you with the best real estate experience ever.

  2. What is a Transaction Coordinator (TC)?

    A Transaction Coordinator is a person responsible for managing and monitoring the transaction process, through interfacing with Real Estate professionals, clients, escrow companies and property management companies, to name a few. Known by several different names in the industry such as Closing Coordinator, Contract Manager, a TC is responsible for maintaining files and the production, coordination, and processing of all information and documents pertaining to the sale of each home.

  3. Why Use a Transaction Coordinator?

    Complete transaction management allows real estate professionals to simplify and streamline the entire real estate process. Our dedicated professionals strive to make your transaction as smooth and effortless for you and your customers as possible.

  4. What do Consumers Want?

    Today’s consumers expect to be kept in the loop and receive immediate answers regarding their transactions. Most agents are very busy, often juggling many transactions at one time. When they are available to talk, they don’t always have the answer on hand. Consumers find that working with a dedicated Transaction Coordinator who is easily available to assist them allows them quicker and more comprehensive answers to their questions. These benefits add up to improved customer satisfaction, more referrals and repeat business.

  5. Do I have to bring my files to your office?

    Absolutely Not! The beauty of what we do is we make life easier our client. First-time users call and register. From then on you simply scan and email your information to our office and we handle it from there. Getting started is simple, call our office and discuss your needs with one of our Account Managers or Transaction Coordinators.

  6. What are the office hours?

    Our offices are open Monday through Friday from 9:00 am to 5:00 pm. But remember, with your own private web portal, we provide you access to files and documents anywhere, anytime!

SUCCESS STORIES

  • Melinda Elmer, Realtor

    Melinda Elmer, Realtor

    Melinda is a very successful agent in Southern California. She’s active in the community and loved by her clients.In addition her real estate career, she’s an avid cyclist who is often on the road raising money riding long distances for her favorite causes. To grow her real estate business she stopped doing the things that got in the way of creating new business.

    Click the link below to hear Michelle Interview Melinda Elmer.

    Listen Here

  • Carol Poche & Jeffrey Welsh, Realtors

    Carol Poche & Jeffrey Welsh, Realtors

    Carol and Jeffrey of Baton Rouge, Louisiana realized a longtime ago that they wanted a successful real estate business. Approximately 90% of their business comes from their sphere of influence which they spend a lot of time nurturing those relationships. Today they spend time coaching other agents wishing to form a successful team or make the one they have better

    Listen Here

  • Angi Bell, Realtor

    Angi Bell, Realtor

    Angi says leveraging her time helped her achieve success in her business. She started her real estate business in 2006, the year after Hurricane Katrina ripped through Metairie Louisiana where she lived, just out side of New Orleans. Today she is a successful award winning Realtor, productivity coach and an instructor.

    Listen Here

  • Mark Ramey, Realtor

    Mark Ramey, Realtor

    When Mark joined Keller Williams he wanted to know from his Team Leader what resources they offered that could really help him grow his business. He was told about Transaction Coordinators from our team and he’s been a client every since.

    Listen Here

  • Terry Diederich, Realtor

    Terry Diederich, Realtor

    Terry is an experienced agent who increased the number of homes he sold and took several vacations while our team coordinated his transactions.

    Listen Here

  • Lynn Ganster, Realtor

    Lynn Ganster, Realtor

    Lynn was a nurse before becoming a Realtor. She took her experiences from her past career into this one and is now the Doctor in her transactions while we are her nurse.

    Listen Here

Raving Fans

  • ​I have been working with Vesna and TMC for a couple of years now, and they are outstanding! It takes a huge load off of my plate and provides peace of mind knowing the many of the little details required to bring a contract closing that I used to try to handle myself are being taken care of. And, I don’t have to worry about hiring or training and assistance. They already know what to do!
    Scott Rhodes
  • Great company! I highly recommend! TMC provides excellent service and business support.
    Jeramiah Bustin
  • ​Leann is amazing. I’ve worked with Leann as my transaction coordinator for years now and I wouldn’t work with anyone else. She’s excellent and keeps my clients informed and things moving smoothly every step of the way. I trust her completely with my business from contract to close. I don’t know what I would do without her. TMC is an amazing service and Michelle has built an excellent team of helpers for the real estate industry!
    Kathryn Stelljes
  • “Might I mention that you are the best when it comes to these situations. Your expertise with these title agencies is powerful. I know that we all appreciate you and I know that our buyer will be happy you helped!”
    Lynn Ganster, RealtorOrlando, Florida​
  • “It has been a real pleasure working with you on these cases. Thank you for all of your hard work and persistence; I certainly would not have gotten through the 3 settlements yesterday without you taking the lead and coordinating everything with all parties. “
    Regina Fletcher, RealtorBaltimore, Maryland
  • “I just wanted to follow up and let you both know that it is always great to work with a Realty Team that has their act together….and yours is at the top of the list. If we can help you with any more smooth transactions, please feel free to send them our way….we would love to work with you again.”
    John Henderson, Title AgentOrlando, Florida
  • “Hey Vesna, YOU deserve all the credit for the filing of my paperwork in the KW paperless system”
    Renee Holt, RealtorOrlando, Florida
  • “Thanks Leann- you have been a wonderful addition and offer a valuable service.”
    Steve Ritz, Realtor Orlando, Florida
  • “I am at Keller Williams Quantum Leap training in Mobile. The subject of VA’s came up. I proudly stood up and plugged your company and staff! I hope you get some calls!”
    Angi Bell, Realtor New Orleans, Louisiana
  • “I want to tell you how great you are and how helpful. Thank you. I have been missing a great service.”
    Patsy Woody – Realtor Orlando, Florida
  • Michelle and TMC have been outstanding for my business. They cover every detail and every base giving me time to develop more sales. Their professionalism and leading edge technology have impressed myself, my clients and other realtors I work with.
    Terry Diederich – Realtor Orlando, Florida

That’s why social change is a part of company’s business model. We believe that even the smallest actions can have a ripple effect and create a lasting positive change in our world.

Here are our current partners:

Kiva is a non-profit organization with a mission to connect people through lending to alleviate poverty. Leveraging the internet and a worldwide network of microfinance institutions, Kiva lets individuals lend as little as $25 to help create opportunity around the world.

Habitat for Humanity is a nonprofit Christian housing organization founded on the conviction that everyone should have a decent, safe, affordable place to live.

Want to know more about our services and if we can help you accomplish your real estate business goals? Submit a request for a proposal.

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