What are the steps and ways to become a successful transaction coordinator? Learn how to manage your business and set it up for success.
My favorite part of real estate has always been strategy as it relates to all aspects of the business. Marketing, branding, systems, selling, you name it, I love it! I get excited about new ways of doing things and geek out at the strategies behind what makes them work. But there are tried and true steps that you can take to make sure that you have success when you begin your Transaction Coordinator Business right from the beginning.
Do any of these sound like you?
- Maybe you're already a virtual assistant and you're thinking about specializing in the real estate niche.
- Maybe you're just beginning to do research on how to start a Transaction Coordinator business working from home.
- Maybe you're a real estate agent looking to transition behind the scenes as a Transaction Coordinator instead of dealing with buyers and sellers.
Regardless of where you are at in your journey, I think you will find this valuable as you begin your Transaction Coordinator business.
Grab my free guide The Ultimate Transaction Coordinator Checklist and Starter Kit if you're interested in learning more about how to get started.
Being in business for yourself is a totally different beast from working a 9-5 job. Unfortunately, many people who start their own businesses bring that 9-5 mentality into their business and adopt the same principles of working for someone else.
The reality is that starting your own business and gaining success take different principles, different ideas, and a different foundation of values.
Today I am going to talk about 3 ways to ensure your success as a new Transaction Coordinator (TC) when starting your own business. There are so many things that I could talk about that will help you become successful, but these are the three most important ones.
1. Fear of mistakes and the desire to look good
Fear can hold us back in so many different aspects of our lives, both personally and professionally.
I know for me, fear can sometimes paralyze me from making a decision (big or small), because I am afraid of making the wrong decision.
Fear of doing the wrong thing or fear of the unknown are big deterrents from making decisions and moving forward. No matter how much I try to be aware and face things head-on, I still struggle.
But here's the thing. Fear is normal! It's what we do with that fear and how we allow it to run our lives that matters.
Do we allow fear to keep us playing small or paralyzed when making decisions we know we need to make? Does fear keep us from making the mistakes we need to make in order to learn the lesson?
When you start anything in life you want to make as many mistakes as you can, so you can learn as many lessons as you can.
You're probably feeling a lot of resistance as you read that. I've felt that same resistance many times and still do. None of us are immune to feeling fear.
We’ve all heard the saying “if something were easy, then everyone would be doing it”
From making mistakes comes wisdom. The gap between not knowing and knowing means you have bridged the gap and that's when you will become more confident in yourself and your abilities. We all have to start somewhere right?
2. Ditch the 9-5 mentality
Starting a business is so exciting! The possibilities of revenue, freedom, not answering to a boss, being more present with your family are all things we entrepreneurs dream of.
I would bet that at least one of those reasons is why you started or want to start your own Transaction Coordinator business. If not, I’d love to hear what it is for you!
Not a lot of people come into the real estate TC profession without ever having some sort of job beforehand. Our society teaches us to go to college so we can go out into the world and have a career working for someone else.
That is great...if that is what you want to do. From the time I was in high school I've had several retail type jobs before I got into real estate. I can tell unequivocally that I hated EVERY. SINGLE. ONE. of them. I’ve never really considered myself to be a good employee. Not because I did poor work but because I hated being told what to do. I've always been a bit of a rebel in that way. I like doing things my way and on my time.
When I fell into real estate I felt like I had found my calling. My time was my own again. But that came with its challenges too.
I didn't really understand how to structure my time once I had all this “freedom to do it my way”. I was used to the 9-5 routine working for someone else so I had to quickly learn what it meant to be the creator of my own destiny.
I realized that this was my business and I was going to get out of it what I put into it. I had to put in the sweat equity which meant making all the mistakes (see number 1 above).
I needed to change my mindset from “this is my job” to “this is my business”. Real estate was my livelihood and the more I put into it the more I got out of it. For me, not for anyone else.
3. Poor schedule and weak routines
This is a big one! Being the entrepreneur type and always trying to forge my own path put a spotlight on my lack of consistency at times.I love this quote:
"Show me your schedule and I’ll predict your future success"
I think once you have your own business it can really mirror back where you need to improve your habits and routines. The freedom of working for yourself is awesome, but unless you are the structured type it takes some real effort to put a productive schedule in place.
If this is you, take a look at your routine. What are your goals for your business? If your goal is to make $50,000 this year for example as a Transaction Coordinator but your schedule shows you are only working when you feel like it then something doesn't align.
Then there is the opposite of that and you’re working 10 hours a day but you're still struggling to get your business off the ground. If that's the case then it's time to take a look at what activities you are focusing on during your workday. Be honest with yourself either way.
Remember it takes discipline to build a business. Your schedule and routines need to align with what your goals are otherwise you will be slowly sinking and never understand why.
If you've been thinking about starting your own business as a Transaction Coordinator grab my free guide The Ultimate Transaction Coordinator Checklist and Starter Kit if you're interested in learning more about how to get started.
Check out my other post about Transaction Coordinators:
How to Start an Online Business as a Transaction Coordinator
Planning your 2020 Transaction Coordinator Business Goals
3 Simple Strategies to Getting Clients For Your Transaction Coordinator Business
What is a Virtual Transaction Coordinator