Switching from real estate agent to transaction coordinator (TC) is a natural next step for professionals who excel in organization and thrive on managing the details behind closing deals. As a TC, you’ll shift your focus from selling properties to gaining proficiency in the real estate transactions.
For many agents making this transition, the first year can feel like uncharted territory. But it’s also an opportunity to build a strong foundation, refine your skills, and develop systems that set you up for long-term success.
This guide provides actionable insights to help you establish your transaction coordination business—all while creating a career that aligns with your strengths.
What Does a Transaction Coordinator Do?
As a real estate agent who decides to become a transaction coordinator, you’ll be very important in the real estate transaction process. You have to make sure that everything goes through seamlessly from contract to close.
While agents are out finding and selling properties, the coordinators manage all the critical administrative work that keeps deals on track.
Key Responsibilities of a Real Estate Transaction Coordinator
- Overseeing the contract timelines, including due dates pertaining to property inspections, contingencies, and closings.
- Helping the client, agents, title companies, lenders, and escrow agents in communications.
- Reviewing contracts for completeness and correctness, verifying that all the required documentation is available.
- Following up the whole transaction process and resolving all the administrative issues that occur.
Why You Are a Perfect Fit as a Former Agent
Your past real estate experience is, therefore, an added advantage in this position. You have managed deals, solved tight situations, and worked around tight timelines.
As a TC, you will be working behind the scenes to ensure that the transaction process remains smooth.
For example, the knowledge of property inspections and file compliance you have will help in expecting potential problems well in advance of when they could occur.
Example
Think back to a deal you closed as an agent. You likely juggled multiple deadlines, ensuring inspections were completed on time, and the escrow process went smoothly. These same skills—strong communication, organization, and attention to detail—are the foundation of a successful transaction coordinator role.
Some TCs also work virtually, offering remote transaction coordination services. This flexibility is appealing if you’re looking to build your own business while maintaining a steady paycheck. By transitioning, you’ll apply your real estate knowledge to a new role that supports agents in their own transactions.
Building a Strong Foundation in Your First Year
Your first year as a transaction coordinator is about laying the groundwork for a long-term, sustainable career. By focusing on learning, building relationships, and creating efficient systems, you’ll set yourself up for success.
Learning the Transaction Process
To thrive as a TC, you’ll need to master the real estate transaction process inside and out. Start by reviewing local real estate laws and practices. Take the time to understand how contracts are structured, from the initial contract to final compliance checks.
Tools to Help You Learn
- ListedKit. A low-cost estate transaction management software that simplifies the daily tasks of transaction coordination. It helps you manage deadlines, track documents, and communicate with clients—all in one place.
- Online training. Some platforms or experts offering real estate transaction coordinator training can provide the skills you need to get started.
Key Areas to Study
- Compliance requirements for contracts.
- Deadlines related to contingencies, inspections, and escrow processes.
- How to track multiple transactions efficiently.
Creating Strong Client Relationships Through Communication
The success of your business will depend on your ability to meet client expectations. Start by understanding how your clients prefer to communicate—some may prefer quick updates via text, while others appreciate detailed emails or calls.
Actionable Tips
- At the start of each transaction, ask your client how they’d like updates and what information is most important to them.
- Develop professional email templates for frequent updates, like deadline reminders or milestone completions.
- Provide feedback opportunities to ensure clients feel heard and valued.
Example
For instance, one busy agent might prefer receiving quick text updates, while another might appreciate detailed weekly emails. If an agent-turned-TC adjusts their communication style based on their client preferences, they can build stronger relationships and grow their client base.
Setting Up Efficient Workflows
With multiple transactions to manage, workflows will be the backbone of your business. Create a step-by-step process for every stage of the transaction, from contract signing to closing.
Efficient Systems to Use
- Use tools like ListedKit to automate task tracking and document organization.
- Develop detailed checklists for every transaction stage, including contract reviews, title company communications, and property inspections.
- Regularly review your processes to identify gaps and make adjustments.
Building these workflows early in your career ensures you’re prepared to handle a growing volume of transactions without sacrificing quality.
Finding Your First Clients
Finding clients as a new transaction coordinator can feel overwhelming at first, but starting small and focusing on your network can make all the difference.
1. Start with Your Personal Network
As a real estate agent, you’ve built relationships with other agents, brokers, and even past clients. These connections are a great starting point for finding your first clients.
Let them know you’re transitioning into transaction coordination and ready to help manage their real estate deals.
How to Leverage Your Network
- Send a personal email or LinkedIn message to your agent friends or former colleagues announcing your new services.
- Offer a discount for your first few transactions to incentivize them to try your services.
- Follow up with clients you’ve worked with in the past, asking if they know agents who might benefit from a reliable transaction coordinator.
Example
A former agent transitioning to a TC role can email 20 past clients to let them know about her new services. Within weeks, there’s a chance that he or she can secure the first two clients and gained referrals to others in their brokerage.
2. Grow Through Referrals
Pleased clients can be your best ambassadors. It is not uncommon to handle another transaction after being referred by a happy buyer or seller, so don’t be afraid to ask.
Many agents appreciate a smooth transaction process and are happy to share your name with their colleagues.
Ideas to Encourage Referrals
- Give a discount on their subsequent transaction for every new client referred.
- Send a handwritten thank-you note or a small token of appreciation for every referral.
- Consistently deliver excellent service to create a reputation that leads to word-of-mouth recommendations.
3. Invest in Online Marketing
Once you’ve tapped into your network, expand through online marketing.
A professional website and social media presence will help reach the agents in your area looking for transaction coordination services.
- Showcase your expertise, services offered, and customer testimonials by building a website.
- Blog on topics relevant to the real estate industry, such as “How to Get More Real Estate Clients” or “Time-Saving Tips for Real Estate Agents.”
- Utilize Facebook ads targeting agents in your area, informing them how you can take care of their administrative tasks and save them time.
Example
As a new TC, you can use Instagram to share tips for managing real estate transactions. These posts can catch the attention of a local real estate broker, who can later hire you to handle multiple transactions for his team.
Adapting to Client Needs and Managing Workload Effectively
As your client base grows, the ability to adapt to different needs and efficiently manage your workload will define your success.
Adapting to Different Client Needs
No two clients are the same, and it’s important to adjust your approach to meet their preferences. Some clients may prefer detailed updates at every step, while others want minimal involvement. By staying flexible, you can provide personalized service that builds long-term relationships.
Practical Strategies:
- During onboarding, ask clients about their preferred communication style and frequency.
- Use tools like ListedKit to customize workflows for each client’s needs.
- Be prepared to adjust priorities as transaction timelines change.
Establishing Systems for Workload Management
With multiple transactions happening simultaneously, keeping everything organized is critical. Transaction management systems help consolidate your tasks, communications, and deadlines into one platform, reducing the risk of missed deadlines or overlooked paperwork.
Steps to Stay Organized:
- Develop a daily checklist that outlines key tasks for each transaction.
- Use advanced transaction management software to track progress across multiple deals.
- Set clear boundaries for your work hours to avoid burnout while maintaining client satisfaction.
Real-world example:
A TC managing 15 real estate transactions at once relied on a task management system to prioritize urgent deadlines and avoid delays. By streamlining her workload, she delivered consistent results and earned repeat business.
Balancing Growth with Quality Service
As your business scales, keeping the service level high will be of utmost importance. Carve out time on a regular basis to review your workflows, looking for opportunities to streamline processes without compromising the client experience.
Tips for Balancing Growth:
- Keep full records of all transactions to facilitate compliance reviews.
- Schedule periodic check-ins with clients to ensure they’re satisfied with your service.
- Focus on steady growth rather than overloading yourself with too many transactions at once.
By building a system that adapts to the needs of your clients and helps you manage your workload effectively, you will be well-positioned to build a thriving transaction coordination business.
Build a Thriving Career as a Transaction Coordinator
Your first year as a transaction coordinator is about preparation, learning, and building a foundation for long-term success.
By approaching this transition with focus and determination, you can create a career that aligns with your strengths as a real estate professional. Here’s what to prioritize as you navigate this new role:
- Preparation. Master the real estate transaction process, familiarize yourself with tools like ListedKit, and refine your organizational skills to keep deals on track.
- Adaptability. Learn to understand and adjust to client preferences, communication styles, and unique transaction needs, ensuring a personalized and professional experience.
- Relationship Building. Start with your personal network, deliver excellent service to foster referrals, and expand your business through both offline and online marketing.
- Steady Growth. Focus on creating efficient workflows, managing your workload effectively, and delivering consistent, high-quality service to clients.
As you take these steps, remember that growth takes time, but the rewards of becoming a reliable, skilled transaction coordinator are well worth the effort.
Want to learn from someone who’s mastered this journey? Discover how Allyson Kurak scaled her business from one client to over 1,000 closings here and get inspired to achieve your own success.
