TRANSACTION COORDINATOR SERVICES

THE TRANSACTION COORDINATOR JOB DESCRIPTION

The Transaction Coordinator’s job is to assist our Real Estates Guides in making sure our clients leave a transaction feeling well cared for, well advised, and confident in their buying and selling decision. 

The Transaction Coordinator will own the details, working behind the scenes to keep every aspect of the transaction process organized. From the initial agreements, disclosures, contracts, forms, and amendments, they make sure every “i” is dotted and every “t” is expertly crossed. 

The Transaction Coordinator manages timelines well and makes sure we are on schedule to close in the allotted time. Their job is to keep the ball moving, making sure all members of a transaction (our clients, other agents, lenders, inspectors, appraisers, escrow officers, and contractors) are on track. 

The Transaction Coordinator will overly communicate with all parties regularly. All communications should be prompt, precise, simple, unemotional, and friendly. It is their responsibility to keep the contract to close as smooth and easy as possible!

Please read each of the service levels and the Transaction Coordinator pinch points at the bottom of the page

CONNECTING WITH THE TRANSACTION COORDINATOR

To loop in The Transaction Coordinator, send them the following information via email:

  • Client Name(s)

  • Phone number(s)

  • Email address(es)

  • Buying vs Selling

  • Name of Lending Company (if applicable)

    • Loan officer name with email and phone number

  • Include Pre-Approval Letter (if applicable)

  • Level of Transaction Coordinator Service (see below)

From there, the Transaction Coordinator can send out an introduction email to your clients to start prepping docs and getting the ball rolling for 6AH to officially represent client.

TRANSACTION COORDINATING 1.0

$400 fee to be paid by agent at closing via Title Company 

For Buyer Representation, the Transaction Coordinator will:

  • Send the buyer preparation intro email

  • Create and maintain the Rechat file 

  • Prepare and send all buyer rep docs for signatures  

Once contract is executed:

  • Send the “under contract” email 

  • Send critical dates with calendar invites

  • Circulate amendments and docs for signature and to all applicable parties

  • Coordinate with title and lender 

  • Send the Home Warranty email (if contract allows for Home Warranty)

    • Will coordinate with buyer and title on plan specifications and that title has info to order on behalf of buyer

  • Send “one week to closing” email 

    • Will coordinate closing appointment with client and the title company

    • This email also offers helpful reminders about:

      • Homeowners Insurance

      • Utilities

  • Maintain and gather all documents needed for the compliance file

  • CDA

    • Guide will NOTneed to fill out CDA request form on Rechat

    • Will send wire info and approved CDA to title

NOTE - There is room for other administrative tasks that might arise during the duration of transaction (answering client questions, etc)

TRANSACTION COORDINATING 2.0 

$750 flat fee to be paid by agent at closing via title company + cost of touch points (actual touchpoint service is included in this package)

The primary difference from 1.0 is that under this package, the transaction coordinator will write all documents per the Guide’s instructions.

Buyer Representation:

  • Send “buyer prep” intro email

  • Create and maintain Rechat file 

  • Prepare and send all buyer rep docs for signatures

  • Write contract offer and send for signatures, along with applicable docs (LBPA, square footage disclosure, etc) per guide’s instructions/terms. TC will write four contract packages per client. For each contract past the fourth, there will be an additional $25 fee.

    • Sales price

    • Option period and fee

    • Earnest Money

    • Home Warranty (typically $500-$550)

    • Title company

    • Financing terms (typically 21 days)

  • Can send to listing agent on guide’s behalf, but usually Guide will send directly to listing agent, unless Guide has already spoken with agent and listing agent is expecting the offer. 

Once contract is executed:

  • Send the “under contract” email 

  • Send critical dates with calendar invites

  • Draft and send amendments (per guide’s instructions)

  • Coordinate with title and lender 

  • Send “Home Warranty” email (if contract allows for HW)

    • Will coordinate with buyer and title on plan specifications and that title has info to order on behalf of buyer

  • Send “one week to closing” email 

    • Will coordinate closing appointment with the client’s schedule being the priority, along with ensuring title and guide have that availability too.

    • This email also offers helpful reminders about:

      • Homeowners Insurance

      • Utilities

  • Maintain and gather all documents needed for file

  • CDA

    • Guide will NOT need to fill out CDA request form on Rechat

    • Will send wire info and approved to CDA to title

NOTE - There is room for other administrative tasks that might arise during the duration of transaction (answering client questions, etc)

2.0 SERVICE FAQS

  1. How many contracts are included in 2.0?

    • TC will write up to 4 contracts. Starting at the 5th contract written a $25 fee/contract written will apply. $25 fee is waived on contract that closes.

  2. What if TC writes contract(s) but, contract(s) doesn’t get accepted/close; then guide writes contract that does get accepted/close - what happens in terms of TC fee?

    • TC service automatically reverts to 1.0 + $25/contract written and not accepted. OR

    • TC service can stay at 2.0 and TC will write any amendments, addendums, etc.

  3. Still have ?’s - email victoria@6thavehomes.com or give call (817) 807-3854

TRANSACTION COORDINATING - LISTING

$275 fee to be paid by agent at closing via Title Company 

Send “listing prep” intro email

  • Create and maintain Rechat file 

  • Prepare & send all listing docs for signatures

    • Seller’s Disclosure will be sent via Seller’s Shield

    • Guide to give terms for sales price, listing begin and end dates, commission percentage agreement, etc.

  • Create a listing in MLS (Guide to review and approve before making listing live)

    • Upload pictures

    • Upload applicable docs (SD, LBPA, survey, T47, etc)

  • Set up the listing in ShowingTime or BrokerBay

Once the contract is executed: (will maintain status updates in MLS - Active Option, Pending, etc)

  • Send the “under contract” email 

  • Send critical dates with calendar invites

  • Circulate amendments and docs for signature and to all applicable parties

  • Coordinate with title and lender 

  • Send “one week to closing” email 

    • Will coordinate closing appointments with the client’s schedule being the priority, along with ensuring title and guide have that availability too.

  • Maintain and gather all documents needed for file

  • CDA

    • Guide will NOT need to fill out CDA request form on Rechat

    • Will send wire info and approved to CDA to title

TRANSACTION COORDINATOR PINCH POINTS

  1. Being looped in at the beginning to do initial docs, but then being excluded from deal once under contract 

  2. Being looped in mid transaction 

  3. Being told TC services are not needed, but then being cc’d on every email for “document storage”

  4. Being told TC services are not needed, but then being asked for “one off’s” (“can you send this out for signatures” or “do you mind handling this”)

  5. Listing turns into a lease and lease is subsequently accepted/executed by owner

Solutions to the above:

  • Flat fee of $175 should 1-4 of the above occur and will be charged on the CDA

  • For #5, $100 flat fee to be paid within 30 days