TransactionCoordinating.com: Frequently Asked Questions
Why would I want a TC rather than hiring an assistant?
The benefit is economic. When you have a transaction coordinator they provide the detailed services on your transactions, as an assistant would, but you pay as you go with TC. You still receive the benefit of more time to sell more real estate.
Can they follow up on more items than those listed on the action list?
We have an outlined list of items that we will track for you. If you have other suggestions we would be happy to discuss them, but we provide the same services for all of our clients.
What is the cost?
$99. per side, if the transaction closes with Escrow Partners, and $175 per side, if it closes with another escrow company.
Why is it cheaper if I use Escrow Partners?
We share a database with the escrow side and we are able to get information in real time and without the constant phone calls to the escrow company. We know what is happening on your file the minute is happens. This gives us the ability to provide you with superior service and because it takes us less time and effort, we charge you less.
What are the benefits to me? Isn't this what an agent does?
We have had this question come up again and again. Many agents feel that if they don't handle all of the details of a transaction then they aren't a good agent. We beg to differ. A good agent is one that gets things done. Having a transaction coordinator will make you more effective at doing what you do best, SELLING. You will be able to handle more transactions and ultimately increase your earnings.
What is the cost if I have both sides of the transaction?
We charge for both sides of the transactions. We create customer dashboards for both the buyer and the seller and coordinate the activities of each for you.
How does the TC get a copy of my purchase and sale agreement?
You can either fax them into us or we can come and pick them up at your office.
How will they know if I already have title and escrow set up?
You will have to communicate any special instructions to the TC when you set up your file. We are happy to follow up on title and escrow that has been set up and get the file numbers and other information on your behalf. We automatically send the Purchase and Sale Agreement to escrow (to open escrow) and a title update form to the Title Company when we receive the initial set up.
How do they communicate with me?
The TC's generally communicate by phone and email; let us know your preference and we will accommodate that.
Can the TC fax information out to parties for me when I am away from the office?
Absolutely. We are here to assist you in your transaction.
How many clients do you have?
We have about 100 active clients.
How long have you been doing TC?
We have been coordinating transactions for nearly 2 years.
What makes you different?
Our communication through the agent dashboard and the customer dashboard is what sets us apart. You and your clients have access to all file information 24/7.
Is this something I could talk about in a listing presentation?
Yes. The service of the customer dashboard would certainly set you apart in a listing presentation. Many of our current clients use TC as their differentiator. There is a benefit to your buyers and sellers and you can tell them that you pay to have this service provided for them.
What are the benefits for my buyers and sellers?
Your buyers and sellers have a customer dashboard (that looks like it comes from you, their agent) and they have access to information whenever they would like to access it. Many times we find that customers don't log in, but that isn't the issue, it is the idea that they could if they wanted to. They feel like they are getting more information and a greater service because it is available.
Do you have access to the MLS?
Yes. We are able to change the status of a file for you.
Do you have contact with my clients?
Yes. We send a Welcome Letter with a complete "signed around" copy of the Purchase and Sale Agreement when the file is set up. As we near the closing date we send a packet with Utility information and a closing "Thank You" letter. All letters are sent on the Agent's behalf.
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