5 characteristics to look for when hiring a transaction coordinator
The most important asset to your team is a transaction coordinator. Sure, you might be able to charm every buyer and seller, but when real estate deadlines approach, your Transaction Coordinator will have all the important information, status updates, and you can 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 pusher 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 required during a transaction. From state-required disclosures to broker-specific paperwork, all parties to the transaction must correctly complete all forms. Your coordinator is responsible for obtaining signatures and ensuring proper documentation 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 deadline-based position, there is a lot of stress involved in transactions. All members of your team must be able to stay calm and focused during the chaos of a transaction. If your transaction coordinator is stressed and unable to manage daily escrow tasks, it could result in the cancellation of the escrow and the loss of your commission.
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 contact person for your team and should interact with all other members of your team in a professional manner.
Organized
The 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 any time you may be asked for a specific disclosure, if you cannot locate it, it could cause a lot of unnecessary stress on your real estate team. The most important feature that a transaction coordinator should 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 intrepid member of your team, take your time with the hiring process and find someone trustworthy and trustworthy. As your business grows, you will depend 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.