The most important asset to your team is a transaction coordinator. Sure, you may be able to charm all the buyers and sellers, but when real estate deadlines approach, your transaction coordinator will have all the important information, status updates, and be able to keep your deal together.
Transaction coordinators are the center of your real estate business and the most important member of the team for expansion and growth. They will go from being a paper salesperson to the center of your real estate team. These are the most important traits to look for when hiring a transaction coordinator.
detail oriented
A lot of paperwork and signatures are needed during a transaction. From state-required disclosures to broker-specific paperwork, all parties to the transaction must correctly complete each form. Your coordinator is responsible for obtaining signatures and making sure the proper paperwork is completed in a timely manner. It takes a very detailed person to make sure paperwork is missing or overlooked.
Manage stress
As with any position based on a deadline, there is a lot of stress involved in trading. All members of your team should be able to remain calm and focused during the chaos of a transaction. If your trade coordinator becomes stressed and can’t handle the day-to-day escrow tasks, it could result in the escrow being canceled and your commission lost.
team player
Every member of your team should play nice with each other! Your real estate team represents you and will be a reflection of your business to the outside world. Internally, your coordinator is the point person on your team and should interact with all other members of your team in a professional manner.
Organized
Transactions involve a lot of paperwork and required disclosures. There should be a system to track every sheet of paper that crosses your desk. At one point you may be asked for a specific disclosure, if you can’t locate it, it could cause a lot of unnecessary stress on your real estate team. The most important characteristic a transaction coordinator must have is the ability to organize and locate any transaction-specific paperwork.
trustworthy
As you build your team and your business, you want to hire people who will grow with you and won’t jump ship as soon as they have another offer. Since your transaction coordinator is such an important member of your team, take your time with the hiring process and find someone reliable and trustworthy. As your business grows, you’ll rely more and more on your team.
When hiring a transaction coordinator, you should look for someone who meets these five basic requirements. It will greatly increase your real estate productivity and allow you to focus on other aspects of your business.
