Transaction Coordinator Certification can help you prepare for the little things that are easy to miss when you’re new to transaction coordination. A real estate file can have a lot going on at once, and once you’re helping with several transactions, staying organized becomes even more important.
Most new Transaction Coordinators aren’t going to know everything on their first day. You’re going to develop your own routine as you work through more files. But there are a few habits worth getting right from the beginning.
Waiting Until a Deadline to Check on Something
Knowing the deadline is only part of the job. You also need to know whether everything is on track before you get there.
If something is due Friday, check on it earlier in the week. You don’t want to find out late Friday afternoon that you’re still waiting on a document or that someone thought another person was handling it.
Get into the habit of looking ahead at what’s coming up over the next several days. That gives you time to follow up before something becomes urgent.
Assuming Someone Else Took Care of It
This can happen easily when several people are involved in the same transaction.
You may think the agent sent a document. The agent may think you sent it. Meanwhile, nobody actually did.
When you’re responsible for following up on something, confirm that it’s been handled instead of assuming it has. A quick note in your system can help you keep track of what was sent, when it was sent, and whether you’re still waiting for anything.
Trying to Keep Everything in Your Head
You may be able to remember every detail when you’re helping with one transaction. That gets harder when you’re working on four, five, or ten.
Use a calendar, checklist, transaction management system, or whatever process your brokerage uses. Keep notes and set reminders for things you need to revisit.
If someone tells you they’ll send a document tomorrow, don’t count on remembering that conversation tomorrow afternoon. Make yourself a note while you’re thinking about it.
Not Following Up
Sending an email doesn’t always mean the task is finished.
If you’re waiting for a signed document and it hasn’t come back, check on it. If someone said they would send something and you still don’t have it, follow up.
You don’t need to send five emails in one afternoon. Give people a reasonable amount of time, but don’t let an outstanding item disappear from your list simply because you already asked for it once.
Sending Messages That Are Too Vague
“Just checking in” doesn’t tell someone very much. If you need something, say what you need.
Instead of sending a general follow-up, you might write, “I’m checking on the signed document we sent yesterday. Do you know when we can expect it back?”
That gives the other person something specific to respond to and makes it easier for you to keep the transaction moving.
Stepping Outside the TC Role
When you’re involved in a transaction every day, clients and other people involved may start asking you questions about all kinds of things.
Some of those questions won’t be yours to answer.
If a buyer asks about their loan, bring the lender into the conversation. If a question involves negotiations or a decision the agent needs to make, send it back to the agent. If someone is asking for legal advice, don’t try to provide it yourself.
A good Transaction Coordinator doesn’t need to have every answer. You need to recognize when the question belongs with someone else.
Treating Every Agent the Same
If you work with more than one agent, you’ll quickly find out that they don’t all work the same way.
One agent may want to be copied on every email. Another may prefer a short update at the end of the day. Some agents want you to handle certain administrative tasks while others prefer to do those themselves.
Talk about that before you start working together.
Ask how they like to communicate, what they expect you to handle, and when they want you to bring something to their attention. That conversation can prevent a lot of confusion later.
Taking On Too Many Files Too Soon
Getting more transactions sounds like a good thing until you have more files than you can comfortably keep up with.
If you’re new, give yourself time to develop a routine. Learn how long different tasks take and how much follow-up is involved in a typical file.
Taking on too much before you have a good system can lead to missed emails, forgotten follow-ups, and unnecessary stress.
It’s better to know your workload than to say yes to every file and struggle to keep up.
Not Asking Questions
You’re going to run into something you haven’t seen before… Ask about it!
Talk with the agent or broker you’re working with. If you’ve had Transaction Coordinator training, think back to what your instructor covered and the examples discussed in class.
Trying to quietly figure everything out yourself can turn a small question into a bigger problem.
Training Can Help Before You Take Your First File
A lot of these habits become easier with experience, but you don’t have to learn everything by making mistakes on live transactions.
LEAP Real Estate Academy’s Transaction Coordinator Certification gives you an opportunity to learn how the transaction process works, how to track important timeframes, manage documents, understand your role, and recognize where your responsibilities end.
You can also learn from instructors who have worked in real estate and can talk about situations they’ve actually seen. Hearing how someone handled a missing document, a tight deadline, or confusion over who’s responsible for what can be useful when something similar eventually lands on your desk.
If you’re considering Transaction Coordination, getting some training first can help you walk into that first file with a better idea of what you’re supposed to be watching.
Enroll in Transaction Coordinator Certification at LEAP Real Estate Academy in Orlando and start learning the day-to-day skills you’ll need to work with real estate transactions.
