User:Trusted business advisor/sandbox
Residential real estate transaction coordination
[edit]A number of individuals can handle real estate transaction coordination. Usually, it's part of the services that a real estate broker performs on behalf of their client, but it doesn't necessarily have to be a licensed broker who conducts the work. In some cases, the tasks are given to an assistant or outsourced to a company specializing in this type of work. These outsourced companies are known as Real Estate Transaction Management companies or Real Estate Transaction Coordination companies.
Duties of a real estate transaction coordinator can vary greatly depending on whether the individual coordinator has a real estate license or not. If the coordinator is licensed, they may be permitted to engage in ministerial acts, whereas an unlicensed coordinator legally can not in the United States.
- Major duties
- drawing up real estate listing and sales agreements
- reviewing documents for quality assurance
- filing and organizing paperwork
- obtaining contract signatures
- coordinating the real estate appraisal appointment
- assisting with home insurance quotes
- scheduling inspections
- scheduling water testing and percolation test
- collecting repair and maintenance receipts
- following up with mortgage lenders
- forwarding contracts and paperwork to the real estate settlement company
- ensuring utilities are turned on/off before closing
- coordinating the closing date, time, and location
- sending out closing documents to brokers, buyers, and sellers.
- returning emails, calls, and texts about transaction details
- ordering and delivering homeowners association, property owners association, or condominium association documents for review.
- entering information into transaction management software platforms
- following up with home buyers and sellers after their real estate transaction closes