![]() ![]() “It’s not a difficult job, but the most difficult part is when people’s emotions come into play.” The need for a transaction coordinator “The interaction is the part I love the best about this job,” she says. So being calm and getting people what they need is part of the job, Im says. There are a lot of players in a real estate transaction. A new-construction transaction management fee costs $150. The fee is $350 paid at closing for transaction management, but there’s no fee if the contract fails. ![]() That’s why, contractually, we charge for each transaction rather than hiring and paying by the hour,” Im says. They would have to pay them whether they were busy or not. Real estate agents used to hire assistants to do this job. There are more than 20,000 licensed real estate agents in the Denver area. She opened her company four years ago and works with multiple real estate agents and agencies. So, I worked as an assistant, and I saw a real need for this kind of business,” she says. But I moved out of Colorado for a while, and I didn’t want to rebuild my real estate business. “I used to sell real estate, and I became a broker, too. They provide an alternative to brokerages hiring a full-time transaction coordinator for their office. There are also companies that offer such services online for a lump-sum payment per closing.Īs owner of Cornerstone Transaction Management in Denver, Jessica Im and her staff provide processing, organizing, and communication assistance virtually for real estate agents and brokers. Sometimes former real estate agents decide they like the paperwork side of the business better and become coordinators. That means having exceptional attention to detail and organization skills. Brokers look for someone who already has experience in the real estate world or who has worked with complex paperwork, documents, and scheduling for other industries. Some agencies, like Schwake’s, hire their own in-house coordinators through job boards or local colleges or within their own real estate company. ![]() But the position has become more essential as brokerages get larger, agents and brokers get busier, and the number of documents and regulations grows. Transaction coordinators aren’t anything new in the real estate world. Everyone knows that Brenda is the one taking care of it.” “Things aren’t going to be lost in the mix with her. “The position is all about being able to multitask,” says Schwake, broker and vice president of Century 21 LSB Real Estate in Cedar Falls, Iowa. Karmen Schwake says she couldn’t do her job without the help of her company’s transaction coordinator, Brenda Miller. ![]()
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