FAQ

What is a Transaction Coordinator and why do I need one?

A Transaction Coordinator oversees and coordinates all details involved in closing a real estate transaction - on both the list and sale side.  Our coordinators will manage the documents and facilitate communication with all parties of the transaction including Title, Lender, Co-Agent, Buyer/Seller, and Brokerage.  Using a TC allows the Agent to focus time and attention on growing and balancing a business, all the while knowing that the administrative needs of the existing contracts are being handled.  

 

 How much does it cost to use a Transaction Coordinator?

Our services are based on a per-contract flat fee with no minimum number of contracts required. Even the biggest teams will find this to be a financially advantageous alternative to a full-time assistant.

 

How is a Transaction Coordinator different from an Assistant?

A TC functions very similarly to an assistant. Many, if not all, of the functions are the same.         The benefit, however, of using CTC is as follows:                                                                               

  • Fully Trained Coordinators

  • No Payroll, Benefits, or HR issues

  • No Sick Days or PTO

  • You only pay us when you need us! No concerns about the "slow months"...I'm looking at you, December!

  • No Turnover

 

I have an Assistant in my office already. Do I still need a Transaction Coordinator?

Yes! Yes! Yes!  How busy is your Assistant???  REALLY busy, right??!! Their time is just as limited and valuable as yours! Using a TC can relieve your Assistant of the administrative tasks that come with an executed PA.  This frees up your Assistant to focus their time on marketing, prospecting, pre-listings, client conversion, social media, sign-rider and brochure runs, previewing...do I need to go on??!!! CTC has also paired well with busy Assistants to handle some of their transaction overflow.  During those busy market months (Hello, February through August!) we can take any number of contracts above what they can personally handle.  We do not require a minimum number of files per month - so we could take one or 30!  

 

My Brokerage provides a Transaction Coordinator to all of our Agents at no charge. Do I really need to hire another one?

Well, it depends.  Likely 30 or more agents are being managed by one or two In-House TCs.  They are probably able to do the basic transaction work but do not have the time to attend to your specific business needs. They may not be able to handle real-time situations (you know...that fire drill that always seems to happen while you are with Buyers!!), communicate directly with your clients as their unique questions come up, or provide the highest level of customer service your clients deserve.  CTC can work with your In-House TC to make sure all your needs are met. 

 

In what Markets does CTC work?

CTC works remotely, which means wherever you may be located we can handle your files!  Everything we do is cloud-based and done online for your convenience. Currently, we serve Minnesota, Texas, Wisconsin, Kentucky, Florida, and Virginia.

 

What do I need to do to start a transaction with CTC?

Once you are onboarded with our team, submitting a new transaction or listing can be done in less than two minutes! A quick Jotform submission gives your Transaction Manager everything they need to jump in on Day One of your accepted Contract! 

 

How does CTC receive payment?

We invoice agents on a bi-monthly basis.  We accept all major forms of credit cards, checks, as well as online payment.  We can also arrange to have payment made at closing. 

 

Will I have the same coordinator for every transaction?

Yes! CTC wants to be your Real Estate PARTNER! You will have a dedicated Listing or Transaction Manager who will be an invaluable part of your team - not just admin support. We see great benefit in developing a strong and familiar working relationship that reflects your personal business model!

 

Does CTC have access to the MLS?

Yes! We have full access to the MLS as well as the ability to access and create any MLS documents. We also have access to Authentisign so we can send documents out for electronic signatures when needed.  In addition, we work within the systems that each Brokerage has in place.  This includes but is not limited to, Instanet/Transaction Desk, My Deals, Command, Business Tracker, and SkySlope.

 

It is hard for me to give up the "control"! How do I know that everything will get done?

This is probably the most asked question - and the most important! We know that it is your name and reputation on the line (it is ours, too!)!  CTC uses a highly structured project management system to set a timeline of all the administrative tasks that need to be performed.  We know that it is hard to turn over the process, therefore, we communicate with the agents thoroughly and frequently so they know what to expect. The Agent is cc'd on all communication so you are never out of the loop!  We prefer to communicate via email as much as possible for two reasons: 1) to maintain Agent involvement and 2) to keep documentation of all communication.   After one or two times through a contract, our Agents feel confident in our process and reap the benefits of being able to "let go"!  

 

What if the transaction falls through?  Do I still have to pay CTC?

We work with you for the smoothest of transactions, but unfortunately, sometimes contracts fall apart.  If the transaction cancels during the Due Diligence Period there is no charge.  If there has been an unusual amount of work done, or we are close to closing, we will negotiate a fair rate with the Agent.

 

I work with a high-producing team. How many contracts can you handle per month?

CTC has a staff of highly skilled coordinators ready to handle whatever your team needs! Our goal is to help your business grow....so BRING IT ON!!