Transaction Coordinator
About Me
I moved to Reno in 2008 and was fortunate enough to get a position with a local title company with amazing escrow officers and assistants. I worked for them 2008 to 2010. I went to work for a real estate office in 2011 -2013, I got my license the first time in 2013. I returned to a major real estate company in 2016 as assistant to the managing broker. Later working with multiple brokers, and trainers, I renewed my license and continued my work in the industry as an admin, I completed two TC prgrams and became the Company TC. I am continuing the work as an independant TC.
Transaction Coordinator Do’s and Do Not Do’s
What A Transaction Coordinator is Not permitted to do:
Create contractual documents:
Listing agreements, Purchase Agreements, Counteroffers, or any other binding Forms.
Addendums, Contingency Removals.
NORR (Notice of Request for Repairs)
Explain documents sent for signature to clients.
Communicate directly with the clients (the relationship exists between the agent and their client not Transaction Coordinator and Client, this is to prevent miscommunication of information.
What A Transaction Coordinator is permitted to do:
Create a listing or purchase package in zipForms for the agent with basic items, the specific items to be complete by Agent and Client.
Agent / Brokerage information
Property information (provided by Agent)
Client name (Provided by Agent)
Track down missing paperwork and signatures follow up to ensure transaction runs smoothly.
Maintain timeline on the file and issue reminders and follow up on important escrow dates, milestones, and contingencies.
Keep agent appraised of timelines and updates through the transaction.
Follow up on missing signatures, initials, and documents.
Verify signatures, initials and all documents are complete with proper dates, signatures, initials and in compliance with state and company.
Prepare disclosure, submit for signatures and initials, (agent must explain to the clients.)
Order Home Warranty
Order Escrow (Prelim, Property Profile and CCR’s)
Send out Introduction to all escrow, other agent, and clients. Track down documents for the “other side” and from the “other side.”
Work in tandem with Agent to make sure timelines are met,
Be an extra set of eyes on the Contracts, Reports, Disclosures and Inspections, there are 180 steps from offer to closing that a TC can assist agents with saving them 16 hours a week.
They can prepare forms with the veribage provided in writing by the agent.
Transaction Coordinators review files weekly and provide the agent with file status. Provide the agent with updates and status reports on the file so the agent can update clients of file status.
Change status of the zipForms file from Active, Pending, fell through and give approval that the file is complete and clear to close to Admin.
Update Status in MLS (NV)
Office hours: 9 am and 4 pm Monday – Friday Listing and Purchase packages must have a 24 hour advanced request.
Transaction fee is 1/10 of 1% of the sales price with a minimum of $125.00 and a maximum of $350.00 per transactional side.
For example: the transaction fee for a Sales price of $250,000 will be $250.00.
For Example: the transaction fee for sales price $35,000.00 will be $125.00.
Dual Agent transactions is Dual transactional sides.