What Is A Real Estate TC?Real estate transaction coordinators deal with a number of tasks mainly focused on coordination, communication, and organization. They’re in charge of opening escrow accounts, coordinating inspections and property access with sellers, and negotiations for repairs. In addition, they monitor the contingency periods for contracts and the closing process. Communication is key for a real estate TC! They must update agents, buyers, and sellers regularly on current tasks.
7 Signs Of A Great Real Estate TCWhen you’re starting any business, the number of tasks and goals you have to juggle can be overwhelming. Luckily, knowing what will make you a strong TC helps you navigate the waters with ease and feel confident that you’re making the right leap into entrepreneurship. Here are seven great qualities that a great real estate TC should have!
1. Great Customer Service SkillsBecause communication is so important for a real estate TC, you’ll want to have great customer service skills when talking with potential clients. Your goal as a TC is to provide as much support for your client as possible throughout the transaction process. Ensuring buyer and seller satisfaction is the number one priority of the process. So with great customer service skills, you’ll be able to handle every aspect of your job with ease!
2. Strong Communication SkillsSimilar to customer service, knowing how to communicate effectively is very important for a real estate TC. With so many different people taking part in the process, it is your responsibility to keep everyone updated on what is being done. At first, you might think of constant communication as over-communicating...but it’s a necessity! You need to be able to inform your clients about progress and obstacles during the transaction. A great TC will ensure that each of their clients gets their undivided attention during the time that they speak with them. This helps the client feel important and satisfied with the priority of their process.
3. Detail-OrientedAs a real estate TC, you’ll be handling multiple detail-oriented tasks all at one time. Precision is key. One mistake could affect the whole transaction process, upsetting multiple clients and causing delays. You need to be able to find a healthy balance at being attentive to detail while not focusing on every little task. If you’re spending too much time on certain tasks because you’re clarifying every detail, you could be hindering the duration of the process.
4. Flexible and AdaptableNo transaction process is going to look identical to the next one. Every process you’ll work on as a TC will look slightly different because of the different clients involved. In order to be a great real estate TC, you’ll need to be ready for anything that may come your way throughout the process. Let’s say papers need to be signed earlier than you thought—you’ll need to adapt your schedule alongside your clients. Certain tasks during the transaction may be a higher priority than others, so you’ll need to be flexible and able to multitask effectively. Multitasking is a big responsibility for TCs and you’ll need to be able to juggle the many tasks while satisfying the agent, buyer, and seller. The key is to remember that you’re interacting with real people—no matter how you handle the process, the people are the most important part!
5. Good Decision-Making SkillsA great real estate TC needs to be a strong decision-maker. As a TC, you’ll be your own boss. That means you need to be ready to make hard and final decisions when they come to you. Because you’re overseeing multiple people in the process, your decisions are final and you’ll need to feel strong making them. A good decision-maker is not someone who will necessarily make the right decision every time but they are someone who can collaborate, problem-solve, and have a solid emotional intelligence.
6. A Real Estate TC Should Have Passion and DriveBecause of how demanding a real estate TC’s role is, you need to have a deep passion for the job. Financial gain can be a motivator...but money alone won’t prepare you to take on the tasks expected of you. A great TC really enjoys what they do. They’ll feel the need to keep organized, manage, and pay attention to all of their tasks because it is who they are as a person. If you’re someone who lacks organizational skills and attention to detail, you may struggle to find joy in what you do and perform to the best of your abilities. If you’re seriously considering becoming a TC, make sure that you have a strong interest and skill in the job requirements.
7. Loves RoutineA real estate TC thrives off of the routine they follow. A set routine only helps their job, allowing them to keep organized and manage all different aspects of the process. If you’re someone who likes to stick to your set schedule, then becoming a TC might be for you!
The role of a real estate TC is complex and consists of difficult work. Not everyone can be a TC...but for those with these seven traits, it will be a fun, fulfilling, and rewarding career! If you’re someone who’s interested in the transaction coordinator business, keep these seven qualities of a great TC in mind.