Real Estate Transaction Coordinator – What is it and how do I apply?
Welcome to our page about our Transaction Coordinator position! You’re probably curious to know exactly what this job entails, what to expect in it, and what you’ll be getting out of working with our team. You’re in the right place! Read the full description and examples below before proceeding to the next step to apply to make 100% CERTAIN that you are the perfect fit for this role!
If you’re in the market for a fun, rewarding, lucrative, dynamic job opportunity, this is it! Do you have amazing communication and phone skills? Can you appreciate that sometimes you need to be sweet and kind on the phone with folks you’re working with, and other times you need to be tough and firm? We’re searching for passionate job seekers who have the drive and initiative to achieve results on a real estate investment team. We’re going to go ahead and let you know right now that if you depend on others for success, or you don’t feel like putting your best into your work, this isn’t the right fit. We need go-getters who are willing to expand their knowledge and learn our methods to close more deals.
This is a full-time position that will require 45-50 hours of work a week. We are available from 9 AM to 6 PM daily. We will also work after hours sometimes if we are needed. Your job is to keep everything on track for our transactions and closings, to ensure everyone involved is in the loop and updated, and to follow-up and provide great service to our clients.
We maintain a relaxed atmosphere in the office, and it’s encouraged to dress casually. The age range of our clients is typically 50 years and up, so trustworthiness is key. You’ll need to know how to converse, relate, and develop relationships with a variety of folks, and you don’t need to be told that first impressions and how you present yourself on-site are key to your overall long-term success with each and every client. Here’s some boring and lame bulletpoints that help cover the actual job responsibilities, but read the examples at the bottom of this page for some real-life practical situations you can expect to find yourself in during the day-to-day:
- Entering client information into the client database system and submitting appropriate documentation to the office broker for file compliance; keeping track of and updating all relevant parties related to any transaction activity.
- Maintaining files and documents, and identifying and contacting the appropriate party to obtain any missing documents, signatures, authorizations, POAs, etc; Confirming all documentation has the appropriate signature and dates, that HUDs and closing statements are 100% perfect and match the PA, etc.
- Verifying all properties/transactions are entered correctly and are up-to-date in the CRM, set up all files in Basecamp, Dropbox, Google Drive, Calendars, Appts, and more.
- Manage all aspects of our real estate transaction process from processing sales in our database to auditing and maintaining the related transaction files.
- Scheduling closing-related appointments, and attending events regarding the closing process. This includes staying on top of all current appointments and updates, and re-scheduling appointments as needed.
- Wow the clients by communicating throughout the process in an upbeat, energetic customer-service way that garners 5-star glowing reviews, and follow up with the clients to ensure those reviews get posted!
- Ensuring the timely completion of all escrow documents, such as appraisals, titles, and mortgage loans; Maintain and follow up with all escrow-related documentation, start and stop all insurances and utilities.
- Representing the seller by acquiring seller approval for offers and counter-offers from buyers to complete the process in a timely manner.
- Scheduling home inspections and necessary repairs, and assisting with negotiations as needed.
- Hosting Tuesday team meetings where we go over every single deal we have incoming AB, pending, BC, rehab, etc, and provide status updates on all files to the entire team.
- Performing other administrative duties as required to work with the team, our attorneys on tough files, and a dozen more things.
- Providing aid to real estate agents, clientele, and other stakeholders with paperwork.
- Work closely with the title company and (occasionally) our in-house Realtors to retrieve any and all documents needed to close the file.
REQUIREMENTS & SKILLS NEEDED
- Previous industry experience: Whether you have prior experience in the real estate industry, transaction management or coordination, working at a title company, working with loans and mortgages, etc – you will need some kind of relevant experience to thrive with us
- A true people person: LOVE talking to people and finding ways to solve problems and coordinate solutions and results
- Highly-Skilled communicator: You’re going to be talking to a lot of people over the phone every day, and you’re going to be sending a lot of messages and e-mails as well. You need to be very skilled in relaying information both in concise and accurate ways, and in a more friendly and relaxed manner.
- Self-motivated and driven: Motivated to serve people and provide excellent client service
- A quick and eager learner: Learns FAST, and is able to pick up challenging new skills quickly
- A real relationship-builder: Great at building rapport to establish and maintain solid relationships with a variety of clients, crews, title companies, Agents, etc.
- Good with technology: Must be good with tech. You’ll occasionally chase people down on FB, LinkedIn, etc. You’ll work in Excel, Google Docs, our CRM, Calendars, and other contact systems and software
- Neat, clean, professional: This applies to both your appearance and mannerisms! 80% of conversations are done over the phone or computer, and the remaining 20% are in-person
- Principled: FULL of integrity and always willing to do the RIGHT thing!
- Detail-Oriented: Highly-organized and thorough in your documentation and communication
- Consistent & Focused: Showing up to work daily, ready and able to handle whatever the day throws at you. Stability and a laser focus on what you’re doing will lead you down the road of true success, and anything extraneous that distracts you can easily lead you to failure instead. Know yourself and what you’re capable of, and drive yourself to achieve your best!
- Patient & Persevering: This is required! If you give up when you’re just 3 ft from hitting gold, or when it gets more difficult during your first week beyond training, you definitely won’t last here and you will never see the REAL money potential in this opportunity.
We believe in people changing, so a past background issue it NOT an automatic rejection here. If you’ve changed, please make sure you tell us about it!
COMPENSATION & BENEFITS
MONEY! That’s what you want to see here, right? Cool, plus there’s more:
- $75,000-$85,000/yr OTE: There is a base salary of $50,000-$55,000/year with bonuses, and a full package worth between $85,000-$90,000/year.
- 401K Matching: As an investment company ourselves, we believe wholeheartedly in the concept of investing via multiple vehicles to optimize your leverage long-term and prepare for retirement. As such, we offer 401K investing strategies with matching contributions after the first year.
- Rental Properties: As you’ve probably figured out by now, we deal primarily in real estate! That means we regularly purchase or transform homes into rental properties that earn passive income for their owners. With our team, you get first look at available rental properties coming through our pipeline, AND discounted pricing off of retail for each of them!
- Vacation and PTO: We offer annual vacation and PTO days.
- Team Extras: We like to do frequent team lunches, birthday gatherings, holiday parties, etc – and as part of the team, you’ll also have access to a Florida beach house for your vacations.
- Medical & Dental Group Insurance: We have group medical and dental insurance plans available.
We maintain a sort of “friends and family” style of atmosphere at our company. We’re not too formal, but we do remain professional when it comes to our clients and how we present ourselves to the world. It is vital that each and every member of our team is a superstar in their own role, because just like a football team can’t win the Super Bowl based on the performance of their Quarterback alone, we also will not succeed and excel if any one of our team members isn’t invested and dedicated towards achieving our goals. We support each other, we encourage each other, and we know we will do great things as a result!
We are continuing to expand and grow, which means there will inevitably be some growing pains that all of us will encounter and endure. These opportunities for growth will ultimately improve your ability to focus on your role within sales, allowing you to bring in better leads, and to spend more of your time engaging with them and securing deals, rather than doing clerical work or other admin-level duties. We’re not perfect right now, but we are heading in that direction as much as possible by heavily investing in better systems, knowledge, training, and internal team support!
EXAMPLES of What to Expect:
First, we should probably explain to you how things will go once you’re accepted onto the team. We begin with training in-office that will teach you all of the valuable skills and strategies necessary to excel in your role with us. Be prepared to hit the ground running, as we do operate at a fast pace, and as you might imagine, there’s a lot to do to make everything happen.
Next, we’d like to lay out some things you might expect to do and encounter on a daily basis within the Transaction Coordinator role on our team, so you know exactly what you’re getting into once you’re accepted:
#1 – You receive a request from one of the sales reps to send a purchase agreement out for the team to buy a house. You verify that all of the information included is correct via the County Auditor, but notice a small discrepancy when digging a little deeper. The address referenced by the sales rep is indeed owned by the person they mentioned, but you notice that there is a separate parcel listed under their name for the adjacent lot – and the sales rep didn’t specify that this would be two parcels.
You reply back to the sales rep to see if we will be purchasing both parcels, or if we are just purchasing the one with the home on it. The sales rep responds a few minutes later to let you know that – yes – we are purchasing both parcels, and could you please make sure to include both on the contract? You draft up the purchase agreement and send it out for electronic signatures after reading through it a third time to ensure total accuracy in all details. While waiting for everyone to sign the document, you receive a phone call from the title company.
Title lets you know that one of our transactions that is scheduled for closing next week needs your attention. The seller is divorced, and their ex needs to sign off on their rights to the property before we can proceed with the purchase and closing. You shift your focus to getting the right contact information for the ex from the seller, and coordinating everyone to get the paperwork completed as quickly as possible. As you wait to hear back from the seller so you can achieve this, you start going down your list of daily updates that you need to provide to our other sellers, and you contact each of them in turn and let them know any changes, or just to confirm that everything is on track and they can relax!
#2 – A house that is on the market through one of our Agents to be sold on the MLS has had multiple showings, and the Agent sends you two offers to consider. You review these offers to make sure they meet our minimum requirements, then present them for consideration to the owner with your insights and recommendations. The owner sends back a counter-offer, which you relay to the Agent. There is some more back-and-forth, and negotiations are concluded and a contract is signed. Part of the negotiations involve some small repairs that need done. You coordinate with our established crews to get them scheduled to perform these repairs at an agreed-upon price, and relay access information to them so that they can get inside the home to complete their tasks.
Next, the title company calls you to let you know that they need a seller’s authorization signed on a transaction that we’re trying to expedite, as the seller is an elderly person who is preparing to move into a retirement home as quickly as possible due to health reasons. You know that this seller is unable to sign electronically, so you print out the relevant forms and speak to the team to see who is available and able to travel to the home, and then schedule that team member to go to the seller’s home that afternoon to walk them through signing the paperwork.
After you’ve done that, you receive a signed purchase agreement back that you had sent out the day prior. You go through your task-list for a signed AB contract, making sure to complete each step before moving on to the next one. You contact title and introduce the seller to them, you update the CRM and add all files to the database, and you schedule an inspection to be performed within the date range specified on the contract.
If you took the time to read ALL of this, then you are obviously someone who can follow directions! THANK YOU!! Now, if you’re dead serious on this being a long-term (10+ years) career, follow a few more simple instructions and take it all the way.