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Transaction Coordinator

What is a Transaction Coordinator?

Young Asian Businesswoman
A Transaction Coordinator for Real Estate manages contracts throughout the entire buying and selling process, from the opening of escrow to settlement and follow-up. This role is a vital member of the team as they ensure that the real estate sale closes properly.
Transaction Coordinators maintain communication with real estate agents, clients, and settlement agents throughout the process, ensuring that all necessary actions are taken to complete the transaction. This role is crucial as it helps to save time and prevents errors, by coordinating all the transaction related activities and making sure all the parties involved are on the same page.
A Transaction Coordinator for Real Estate manages contracts throughout the entire buying and selling process, from the opening of escrow to settlement and follow-up. This role is a vital member of the team as they ensure that the real estate sale closes properly.
Transaction Coordinators maintain communication with real estate agents, clients, and settlement agents throughout the process, ensuring that all necessary actions are taken to complete the transaction. This role is crucial as it helps to save time and prevents errors, by coordinating all the transaction related activities and making sure all the parties involved are on the same page.
Young Asian Businesswoman

What is the salary of a Transaction Coordinator?

A competitive and fair salary depends on several factors, including experience, education, specific job duties, and whether the individual is a certified transaction coordinator. The most significant cost factor is location because location determines the cost of living. Real estate agencies in many industrialized 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 coordinator jobs in several countries. The table is only a guide, and individual salaries may vary somewhat.
The salary amounts listed in the table for most countries exclude additional costs, such as 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.
As you can see, the cost of a ShoreAgents transaction coordinator virtual assistant based in the Philippines is about one-third to one-half of what you’d pay in most other countries. In other words, you could hire two Filipino transaction coordinators for the price of one located in most other countries.
The average salary of a Transaction Coordinator in Australia
Australia Flag

AU

$94,141 AUD
Local
Philippines Flag

PH

$29,385 AUD
based in the Philippines
The average salary of a Transaction Coordinator in New Zealand
New Zealand Flag

NZ

$95,768 NZD
Local
Philippines Flag

PH

$31,841 NZD
based in the Philippines
The average salary of a Transaction Coordinator in United Kingdom
United Kingdom Flag

GB

£26,823 GBP
Local
Philippines Flag

PH

£16,420 GBP
based in the Philippines
The average salary of a Transaction Coordinator in United States of America
USA Flag

USA

$56,674 USD
Local
Philippines Flag

PH

$19,796 USD
based in the Philippines
The average salary of a Transaction Coordinator in Canada
Canada Flag

CA

$42,825 CAD
Local
Philippines Flag

PH

$26,135 CAD
based in the Philippines
The average salary of a Transaction Coordinator in Singapore

SG

$46,680 SGD
Local
Philippines Flag

PH

$27,070 SGD
based in the Philippines

Can a Transaction Coordinator work virtually?

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Yes, as long as you’re committed to making the relationship work. If you’re ready, ShoreAgents can help you make it happen.
As an offshore real estate staffing solutions firm, ShoreAgents knows what companies must do to set up their operations for a virtual transaction coordinator. We also coach you and your new transaction coordinator to help you hone your processes and learn to master any cultural differences.
To reap the benefits of a virtual transaction coordinator, you’ll have to do a few things. However, we’ll be with you during each step. You’ll have to invest in a cloud-based task management platform and appoint someone to supervise the transaction coordinator on a daily basis. You’ll also have to make sure 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 coordinator can improve your operations.
If you like the concept of a virtual transaction coordinator, ShoreAgents can help turn that concept into reality for you.

Local Transaction Coordinator Vs. Virtual Transaction Coordinator

Before deciding whether to hire a virtual transaction coordinator, you’ll probably want to look at the pros and cons. Hiring a virtual transaction coordinator provides many benefits. Here are a few of them:
You’ll save money by hiring a virtual transaction coordinator in the Philippines. You could use that extra money to hire another virtual 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 coordinator.
An excellent transaction coordinator is a specialist. 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 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 transaction coordinator for your needs.
Hiring a local coordinator can be a hassle and labor-intensive. Hiring a local coordinator also means you’ll have to find a desk and computer for them. And you’ll have to follow all the legal rules.
In contrast, working with ShoreAgents to hire a virtual transaction coordinator 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. We also provide a fully equipped workspace for your coordinator, including a desk, computer with two monitors, webcam, and headphones. Sign up with us today to get started.
Our transaction coordinators work in our modern, 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.
The only potential downside to hiring a virtual transaction coordinator is that you’ll have to make some minor adjustments to how you operate and communicate. ShoreAgents can help you make these changes.
The advantages of a virtual transaction coordinator are significant. But whether to hire a local coordinator or a virtual one ultimately has to be your decision. Are the cost savings, specialized skills, ease, and better retention worth making a few changes? If they are, then we’re ready to help you.

What are the duties of a Transaction Coordinator?

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Transaction coordinator duties center around managing the sales transaction from when the contract is signed until after the settlement. A transaction coordinator job description would include 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, 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
Excellent transaction coordinators are exceptionally well organized and possess an impeccable sense of detail. They are committed to providing excellent customer service. They also understand real estate and the lending process.

Transaction Coordinator Role

We’ve put a tick next to each job responsibility that a transaction coordinator could complete virtually with the proper technology. We’ve put a cross beside those tasks someone must do in person. If some aspects of the task can be done virtually, but the task requires in-person work for completion, we’ve put both a tick and an cross.
Open escrow and review escrow instructions for errors check circle
Help real estate agents, clients, and others with their paperwork, reviewing the purchase contract to ensure it is complete check circle
Draft the seller’s disclosure packet, ensuring compliance with the law check circle
Ensure that all escrow documents are complete. These documents might include appraisals, titles, and loans. check circle
Ensure that the loan underwriter has the required credentials. check circle
Monitor deadlines during any contingency period and remove the contingency on time or serve the buyer with a notice to perform. check circle
Schedule or ensure the scheduling of inspections and help negotiate or complete any repairs. check circle
Ensure the seller approves offers and counteroffers. check circle
Ensure each document has the correct names, signatures, and dates so that the settlement proceeds smoothly. check circle
Arrange for and attend events that are part of the closing process. check circlecancel circle
Put client information into a database and submit appropriate documents to the broker. check circle
Use software tools to track and close tasks. check circle
Document all communications between parties. check circlecancel circle
Ensure tax withholding exemptions. check circle
Provide a complete copy of the forms to the client. check circle
A remote transaction coordinator can perform most of the duties typically assigned to transaction coordinators.

Where to hire a Transaction Coordinator?

Busy Employer
You have two choices. You can hire someone in your local market to work in person at your office, or you could hire a virtual transaction coordinator that will work offshore.
If you choose to hire a local person, you’ll need to do all the hiring work yourself. Hiring requires a lot of time. You’ll need to find a desk, computer, and workspace. employee also will need a desk and computer. You’ll also have to find ways to keep your transaction coordinator engaged so that they stay on the job. You don’t want to spend all that time hiring someone who leaves quickly.
The better alternative is to work with ShoreAgents to hire a virtual transaction coordinator. ShoreAgents worked with many companies to fill remote transaction coordinator jobs. We will work with you to find the perfect transaction coordinator 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.
  • Culling through applications and providing you with a short list of candidates to interview.
  • Providing a spacious, modern office where the coordinator works with others in similar roles for other companies.
  • Providing a desk, computer, monitors, headphones, and webcam.
  • Providing continuing education to keep your transaction coordinator current in the field and fully engaged.
  • Offering advice, using our knowledge of the real estate business.
  • Having a base in the Philippines which
    • Saves you money.
    • 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 trained staff whether you want to hire just one assistant or a whole team.

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Assistant Property Manager
Transaction Coordinator
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USD
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$695
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₱37,500
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$519
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assistant-property-manager
Assistant Property Manager
$8.37
Assistant Property Manager
$25.20
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$11.82
Assistant Property Manager
$35.60
Assistant Property Manager
€7.67
Assistant Property Manager
€23.10
Assistant Property Manager
₱451.40
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₱1,359.05
Assistant Property Manager
8.37
25.20
Assistant Property Manager
11.82
35.60
Assistant Property Manager
7.67
23.10
Assistant Property Manager
451.40
1,359.05
Assistant Property Manager

transaction-coordinator
Transaction Coordinator
$10.31
Transaction Coordinator
$29.52
Transaction Coordinator
$14.57
Transaction Coordinator
$41.70
Transaction Coordinator
€9.45
Transaction Coordinator
€27.06
Transaction Coordinator
₱556.02
Transaction Coordinator
₱1,592.03
Transaction Coordinator
10.31
29.52
Transaction Coordinator
14.57
41.70
Transaction Coordinator
9.45
27.06
Transaction Coordinator
556.02
1,592.03
Transaction Coordinator

property-accountant
Property Accountant
$9.68
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$35.97
Property Accountant
$13.68
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$50.82
Property Accountant
€8.87
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€32.97
Property Accountant
₱522.05
Property Accountant
₱1,939.88
Property Accountant
9.68
35.97
Property Accountant
13.68
50.82
Property Accountant
8.87
32.97
Property Accountant
522.05
1,939.88
Property Accountant

real-estate-sales-assistant
Real Estate Sales Assistant
$7.08
Real Estate Sales Assistant
$29.56
Real Estate Sales Assistant
$10.00
Real Estate Sales Assistant
$41.76
Real Estate Sales Assistant
€6.49
Real Estate Sales Assistant
€27.10
Real Estate Sales Assistant
₱381.83
Real Estate Sales Assistant
₱1,594.19
Real Estate Sales Assistant
7.08
29.56
Real Estate Sales Assistant
10.00
41.76
Real Estate Sales Assistant
6.49
27.10
Real Estate Sales Assistant
381.83
1,594.19
Real Estate Sales Assistant

assistant-development-manager
Assistant Development Manager
$9.62
Assistant Development Manager
$34.19
Assistant Development Manager
$13.59
Assistant Development Manager
$48.30
Assistant Development Manager
€8.82
Assistant Development Manager
€31.34
Assistant Development Manager
₱518.81
Assistant Development Manager
₱1,843.88
Assistant Development Manager
9.62
34.19
Assistant Development Manager
13.59
48.30
Assistant Development Manager
8.82
31.34
Assistant Development Manager
518.81
1,843.88
Assistant Development Manager

Membership Fee

$

Membership: Standard

Approximate Saving

Monthly

$

Yearly

$

Diff/Hour

$

Weekly

$

Assistant Property Manager

Our Monthly Rate

$

US Monthly Rate

$

Our Yearly Rate

$

US Yearly Rate

$

Approximate Saving Percentage

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*Based on real-time exchange rates