10 Tips to Handle 70+ Files as a Solo Transaction Coordinator

As the real estate market evolves, transaction coordinators (TCs) face increasing pressure to manage more files efficiently. But how can one TC handle an overwhelming number of transactions without sacrificing quality? This guide explores 10 proven strategies for managing real estate transactions solo, even when juggling up to 70 files simultaneously.

1. Embrace Task Batching for Maximum Efficiency

We recently had a conversation with Kristi Winfree, a seasoned transaction coordinator that revealed how task batching was a game-changer for her TC business as she scaled her operations. By grouping similar tasks, you can streamline your workflow and minimize context switching.

Key areas for task batching include:

• File setup and initial review
• Document collection and organization
• Deadline tracking and follow-ups
• Compliance checks
• Closing coordination

To implement task batching effectively, create a system that allows you to group similar tasks across multiple transactions. This approach helps maintain focus and increases overall productivity.

2. Implement a Robust Transaction Management System

To handle a high volume of files, you need a reliable transaction management system. There are several options out there and depending on your needs, the best fit for your business might be a little different. That said, we wouldn’t be doing a good job if we didn’t mention how ListedKit can help you manage multiple transactions effectively. For only $49/mo, we give you unlimited access to features like:

• Customizable checklists
• Automated email templates
• Document storage and organization
• Deadline tracking and reminders
• Compliance checkpoints

Investing in the right transaction management software is crucial for scaling your business efficiently. It can help automate repetitive tasks, reduce errors, and free up time for more complex aspects of transaction management so schedule demos and do your research to make sure you set up the best system for your TC business.

3. Leverage Automation Wisely

While automation can significantly boost productivity, it’s crucial to strike the right balance. Aim for a hybrid approach that combines automation with human oversight:

• Set up automated task reminders and checklists
• Use email templates for common communications
• Implement approval processes for critical steps
• Review and manually send important communications

🔔 Note: Be cautious when setting up automated emails or text messages. Always review critical communications before sending them to ensure accuracy and timeliness.

4. Develop a Structured Daily Routine

When managing multiple files, a well-organized daily routine is essential. Consider implementing the following structure:

1. Review emails for urgent matters and new contracts
2. Check the calendar for upcoming deadlines (current day and two days out)
3. Review task lists for outstanding items
4. Process daily tasks (e.g., option money, earnest money, home warranties)
5. Handle weekly tasks (e.g., lender follow-ups, compliance checks)

Stick to this routine as much as possible, but be prepared to adapt when urgent matters arise.

5. Focus on High-Impact Activities

With numerous files to manage, focusing on high-impact activities is crucial. Prioritize:

• Calendar deadlines and due dates
• Tasks requiring responses from other parties
• Compliance-related activities
• New contract setups

Be proactive in your approach. Actively seek out information and follow up on pending items rather than waiting for others to come to you with updates or requests.

6. Utilize Time-Blocking Techniques

While strict time blocking may be challenging for TCs due to the unpredictable nature of real estate transactions, a modified approach can be beneficial:

• Allocate specific days for certain tasks (e.g., lender follow-ups on Tuesdays, compliance checks on Wednesdays)
• Set aside dedicated time for new contract setups
• Use tools like Airtable to organize daily and weekly tasks

This approach helps create structure in your week while still allowing flexibility for urgent matters.

7. Implement Effective Communication Strategies

Clear, concise communication is vital when managing multiple files. Consider:

• Using standardized email templates for common situations
• Setting up a system for urgent communications (e.g., text messages for time-sensitive matters)
• Establishing regular check-ins with agents and other parties
• Utilizing tools like Folio to organize email communication by transaction

Effective communication helps build trust with agents and clients while ensuring all parties are kept informed throughout the transaction process.

8. Develop a Comprehensive Compliance Checklist

Compliance is a critical aspect of transaction management. Create a detailed checklist to ensure nothing slips through the cracks. Include items such as:

• Required disclosures based on property type and location
• Lender-specific requirements
• Brokerage-specific compliance items
• State and local regulations

Regularly review and update your compliance checklist to account for changes in regulations or brokerage requirements.

[Suggested image: A sample compliance checklist with various items ticked off]

9. Leverage Technology for Document Management

Efficient document handling is crucial when managing multiple files. Consider:

• Using AI-powered tools for document review and data extraction
• Implementing a standardized naming convention for all files
• Utilizing cloud storage solutions for easy access and sharing
• Setting up automated reminders for missing or unsigned documents

A well-organized document management system can save significant time and reduce errors when handling multiple transactions.

10. Continuously Refine Your Process

As you scale your operations, continuously evaluate and improve your processes. Regular process refinement should include:

• Analyzing bottlenecks and inefficiencies
• Soliciting feedback from agents and clients
• Staying updated on industry trends and regulations
• Investing in ongoing education and skill development

Don’t be afraid to add new items to your checklist or adjust your processes as you encounter new situations or potential pitfalls.

Closing Thoughts

Managing 70 real estate transactions solo is a challenging but achievable feat with the right strategies and tools in place. By implementing task batching, leveraging automation wisely, and continuously refining your processes, you can scale your transaction coordination business without sacrificing quality or burning out.

Remember, the key to success lies in finding the right balance between efficiency and personalized service. Strive to be a valuable partner to your agents, anticipating their needs and proactively addressing potential issues.

By following these strategies and continuously adapting to the evolving real estate landscape, solo transaction coordinators can successfully manage a high volume of files while providing exceptional service to their clients.

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Ready to take your transaction coordination to the next level?
Start a free trial of ListedKit to see how AI-powered document reviews, customizable checklists, and automated email templates, can help you manage 70+ effectively without expanding your team.