Duties & Salary of A Transaction Coordinator

Are you curious about the duties and responsibilities of a transaction coordinator? Look no further than our latest article exploring the ins and outs of this role. Whether you're considering this career path or just want to learn more, this article provides valuable insights. From managing timelines to communicating with clients, discover the essential duties and compensation for this critical role in the real estate industry.

What is a Transaction Coordinator?

A transaction coordinator manages contracts throughout the entire buying and selling process in the real estate industry. From the opening of escrow to settlement and follow-up, they ensure that the real estate sale closes properly.

A transaction specialist maintains communication with real estate agents, clients, and settlement agents throughout the process. Generally, they ensure that all necessary actions are taken to complete the transaction from start to finish.

This role is crucial as it helps save time and prevents errors by coordinating all the transaction-related activities. They guarantee that all involved parties are on the same page and ensure transaction management is well-planned.

What is the salary of a Transaction Coordinator?

A competitive and fair salary depends on several factors. This includes experience, education, specific job duties, and whether the individual has a certification.

The most significant cost factor is location because location determines the cost of living. Real estate agencies in many developed countries will find substantial cost advantages in hiring a virtual transaction coordinator offshore.

What is the average salary for a Transaction Coordinator?

The table below is a guide to the annual average salary paid for transaction specialist jobs in several countries.

The salary listed in the table for most countries excludes additional costs which can be expensive. This includes employer contributions, government charges, supplemental insurance, or the cost per employer for equipment.

The salaries listed for the Philippines, however, do include employment benefits, government charges, and ShoreAgents’ fees.

You can hire a transaction manager from ShoreAgents for much less money compared to other countries. The cost is about one-third to one-half of the usual price in the Philippines. In other words, you could hire two Filipino staff for the price of one located in most other countries.

The average salary of a Transaction Coordinator in Australia

AU

$94,141 AUD

$46,680 SGD

Local

PH

$27,070 SGD

based in the Philippines

Can a Transaction Coordinator work virtually?

Yes, as long as you’re committed to making the relationship work. If you’re ready to hire a virtual transaction manager, ShoreAgents can help you make it happen.

ShoreAgents is an offshore real estate staffing solutions firm dedicated to helping companies to set up their operations. Particularly for a virtual transaction specialist! They guide you through the process of setting up your virtual operations and provide coaching to you and your new staff. This coaching helps you improve your processes and deal with any cultural differences.

To reap the benefits of hiring virtually, you’ll have to do a few things. Nonetheless, we will be by your side throughout the entire process. You will need to allocate resources for a cloud-based task management platform. At the same time, designate a supervisor who will oversee the work of the transaction coordinator on a daily basis.

You’ll also have to make sure that your job description, process, and procedures are clear and updated. Finally, you’ll need realistic expectations and buy-in from the rest of your team. Gaining buy-in is easy when they realize how much a transaction specialist can improve your operations.

If you like the concept of hiring virtually for this role, ShoreAgents can help turn that concept into reality for you.

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Local Transaction Coordinator Vs. Virtual Transaction Coordinator

Before deciding whether to hire locally or virtually, you’ll probably want to look at the pros and cons. Hiring virtually provides many benefits including:

Cost Savings

You’ll save money by hiring virtually in the Philippines. You could use that extra money to hire another assistant, for additional marketing, or as a bonus for your staff. Even though you’ll be paying less, you’ll still receive the services of a competent, well-educated transaction specialist.

Specialist Skills

Doing the job well requires knowledge of escrow procedures, business software, real estate, and contracts. ShoreAgents is uniquely qualified to help you find the best real estate transaction coordinator.

Our director is an experienced real estate business owner. Indeed, ShoreAgents is the only BPO provider managed daily by a real estate professional. ShoreAgents can help you find the perfect virtual staff for your needs.

Easy Process

Hiring local staff can be a hassle and labor-intensive. This also means that you’ll have to provide a desk and computer for them. Apart from this, it's important to comply with the laws and regulations. In contrast, working with ShoreAgents to hire virtually is easy.

ShoreAgents handles all the advertising for you and recruits using our extensive real estate network. We also cull through all the applications to find the best prospects for you to interview. Aside from this, we also provide a fully equipped workspace for your team member. The provisions consist of a desk, a computer that comes with two monitors, a webcam, and headphones.

Cost Savings

Specialist Skills

Easy Process

Better Retention

Our transaction specialists work in our modern and comfortable offices. They are surrounded by other employees that hold similar roles at other companies.

They are energized from working with others and learning best practices from each other. We also provide them with ongoing education. Real estate staffing is our business. We know how to keep employees engaged and happy so they’ll stay with you.

Drawbacks

If you choose to hire virtually, you may have to make minor adjustments. For instance, you may need to improve your operation and communication processes. ShoreAgents can help you make these changes.

The advantages of a virtual transaction specialist are significant. But whether to hire locally or virtually ultimately has to be your decision. Are the cost savings, specialized skills, ease, and better retention worth making changes? If your answer is yes, then we're prepared to assist you in the next stage.

Cost Savings

Specialist Skills

Easy Process

Better Retention

Our transaction specialists work in our modern and comfortable offices. They are surrounded by other employees that hold similar roles at other companies.

Drawbacks

If you choose to hire virtually, you may have to make minor adjustments. For instance, you may need to improve your operation and communication processes. ShoreAgents can help you make these changes.

Cost Savings

Specialist Skills

Easy Process

Better Retention

Our transaction specialists work in our modern and comfortable offices. They are surrounded by other employees that hold similar roles at other companies.

Cost Savings

Specialist Skills

Easy Process

Cost Savings

Specialist Skills

Easy Process

Better Retention

Our transaction specialists work in our modern and comfortable offices. They are surrounded by other employees that hold similar roles at other companies.

Drawbacks

If you choose to hire virtually, you may have to make minor adjustments. For instance, you may need to improve your operation and communication processes. ShoreAgents can help you make these changes.

Cost Savings

Specialist Skills

Easy Process

Better Retention

Our transaction specialists work in our modern and comfortable offices. They are surrounded by other employees that hold similar roles at other companies.

Drawbacks

If you choose to hire virtually, you may have to make minor adjustments. For instance, you may need to improve your operation and communication processes. ShoreAgents can help you make these changes.

Cost Savings

Specialist Skills

Easy Process

Better Retention

Our transaction specialists work in our modern and comfortable offices. They are surrounded by other employees that hold similar roles at other companies.

What are the duties of a Transaction Coordinator?

The duties center around managing the sales transaction from when the contract is signed until after the settlement. The job description includes the following:

Open escrow and review escrow instructions for errors.
Help real estate agents, clients, and others with their paperwork, reviewing the purchase contract to ensure it is complete.
Draft the seller’s disclosure packet and ensure compliance with the law
Ensure that all escrow documents are complete. These documents might include appraisals, titles, and loans.
Ensure that the loan underwriter has the required credentials
Monitor deadlines during any contingency period and remove the contingency on time or serve the buyer with a notice to perform.
Schedule or ensure the scheduling of inspections and help negotiate or complete any repairs.
Ensure the seller approves offers and counteroffers
Secure each document has the correct names, signatures, and dates so that the settlement proceeds smoothly.
Arrange for and attend events that are part of the closing process.
Put client information into a database and submit appropriate documents to the broker.
Use software tools to track and close tasks.
Document all communications between parties
Ensure tax withholding exemptions
Provide a complete copy of the forms to the client

Excellent coordinators are extremely well organized and possess an impeccable sense of detail. They are committed to providing excellent customer service and fulfilling administration tasks. A successful transaction coordinator also understands real estate and the lending process.

Transaction Coordinator Role

We’ve put a tick next to each job responsibility that could be completed virtually with the proper technology. We’ve put a cross beside those tasks someone must do in person. We’ve put both a tick and a cross for tasks that can be done virtually but require in-person work.

Open escrow and review escrow instructions for errors

Help real estate agents, clients, and others with their paperwork, reviewing the purchase contract to ensure it is complete

Draft the seller’s disclosure packet, ensuring compliance with the law

Ensure that all escrow documents are complete. These documents might include appraisals, titles, and loans.

Ensure that the loan underwriter has the required credentials.

Monitor deadlines during any contingency period and remove the contingency on time or serve the buyer with a notice to perform.

Schedule or ensure the scheduling of inspections and help negotiate or complete any repairs.

Ensure the seller approves offers and counteroffers.

Ensure each document has the correct names, signatures, and dates so that the settlement proceeds smoothly.

Arrange for and attend events that are part of the closing process.

Put client information into a database and submit appropriate documents to the broker.

Use software tools to track and close tasks.

Document all communications between parties.

Ensure tax withholding exemptions.

Provide a complete copy of the forms to the client.

A remote transaction coordinator can perform most of the duties typically assigned to this role.

Where to hire a Transaction Coordinator?

There are two options for hiring a transaction specialist. You can hire someone in your local market to work in person at your office or hire offshore.

If you choose to hire a local person, you’ll need to do all the hiring work yourself. It’s important to note that hiring requires a lot of time and providing proper working equipment.

The employee also will need a desk and computer. You’ll also have to find ways to keep your staff engaged so that they stay on the job. You don’t want to waste time hiring an employee who will eventually leave after a few months.

The better alternative is to work with ShoreAgents to hire virtually. ShoreAgents worked with many companies to fill remote jobs. We will work with you to find the perfect specialist by:

Helping you write the job description.
Recruiting through our vast network and advertising the position in places we’ve found success in the past.
Sort applications and provide a short list of candidates to interview.
Providing a spacious, modern office where the staff works with others in similar roles for other companies.
Providing proper work equipment including a desk, computer, monitors, headphones, and a webcam.
Offer ongoing education to ensure that your transaction specialist remains up-to-date and engaged in their work.
Offer advice, using our knowledge of the real estate business.
Having a base in the Philippines will affect cost savings for your organization.
Offers a large well-educated workforce with a great worth ethic.
Provides workers who write and speak English fluently.
Provides workers who want to work with foreign companies and will adjust their schedules as needed.
Has a well-developed BPO infrastructure.
Has a culture similar to the culture of Brits, Australians, New Zealanders, Americans, and Canadians.

ShoreAgents is an offshore real estate staffing expert. We provide highly skilled and trained staff whether you want to hire just one assistant or a whole team.

Duties & Salary of A Transaction Coordinator

What is a Transaction Coordinator?

What is the salary of a Transaction Coordinator?

What is the average salary for a Transaction Coordinator?

AU

PH

NZ

PH

GB

PH

USA

PH

CA

PH

SG

PH

Can a Transaction Coordinator work virtually?

Hire A Transaction Coordinator Expert now!

Hire a Mortgage Underwriter Expert now!

Local Transaction Coordinator Vs. Virtual Transaction Coordinator

What are the duties of a Transaction Coordinator?

Transaction Coordinator Role

Where to hire a Transaction Coordinator?

Takeaway

Are you ready to get started and hire now?

Are you ready to get started and hire now?

ShoreAgents is a BPO company that specializes in providing virtual staff to the real estate industry. They work remotely from our office but are fully dedicated to serving your business needs.Business Center 26, Philexcel Business Park, Ma Roxas Highway, Clark Freeport, 2023

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Services

About Us

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ShoreAgents is a BPO company that specializes in providing virtual staff to the real estate industry. They work remotely from our office but are fully dedicated to serving your business needs.Business Center 26, Philexcel Business Park, Ma Roxas Highway, Clark Freeport, 2023

Social Media

Quick Links

About Us

Services

Glossary

ShoreAgents is a BPO company that specializes in providing virtual staff to the real estate industry. They work remotely from our office but are fully dedicated to serving your business needs.Business Center 26, Philexcel Business Park, Ma Roxas Highway, Clark Freeport, 2023

Quick Links

Services

About Us

Glossary

Social Media

© 2023 ShoreAgents Inc.

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ShoreAgents is a BPO company that specializes in providing virtual staff to the real estate industry. They work remotely from our office but are fully dedicated to serving your business needs.

Business Center 26, Philexcel Business Park, Ma Roxas Highway, Clark Freeport, 2023

ShoreAgents is a BPO company that specializes in providing virtual staff to the real estate industry. They work remotely from our office but are fully dedicated to serving your business needs.

Business Center 26, Philexcel Business Park, Ma Roxas Highway, Clark Freeport, 2023

ShoreAgents is a BPO company that specializes in providing virtual staff to the real estate industry. They work remotely from our office but are fully dedicated to serving your business needs.

Business Center 26, Philexcel Business Park, Ma Roxas Highway, Clark Freeport, 2023