The Benefits
Success
"Nine out of 10 [90%] top producers surveyed use a transaction coordinator, either provided by their office or one that they employ, and nearly four out of ten [40%] top producers use transaction management platforms to maintain a competitive edge compared with others in the profession." 2
"Realtors are trapped in a web of communication with all of the players in a transaction. A lot of time is spent on the phone, email, and fax ordering products and services and checking on their status. Using a transaction coordinator, much of this time could more profitably be spent finding new clients, selling property, and other tasks that increase productivity, resulting in greater revenues - dollars on the bottom line." 3
"Realtors are trapped in a web of communication with all of the players in a transaction. A lot of time is spent on the phone, email, and fax ordering products and services and checking on their status. Using a transaction coordinator, much of this time could more profitably be spent finding new clients, selling property, and other tasks that increase productivity, resulting in greater revenues - dollars on the bottom line." 3
Time
"We realize that really good agents are not paper people, says [Michael] Lyon, [Lyon Real Estate, Sacramento]. "Paperwork is not their top priority, and most of the time it just gets in their way of doing business." 1
While the TC [Transaction Coordinator] spends an average of 12.5 hours on a typical transaction, the average agent spends approximately 19 hours managing a transaction. The time spent managing the transaction has significant financial implications on the agent. Assuming the average full-time, experienced real estate agent earns $75,000 a year (equal to $37.50 an hour); the agent will spend in excess of $700 in his/her time managing a transaction. Utilizing a professional coordinator can save the agent over $400 in time. 3
While the TC [Transaction Coordinator] spends an average of 12.5 hours on a typical transaction, the average agent spends approximately 19 hours managing a transaction. The time spent managing the transaction has significant financial implications on the agent. Assuming the average full-time, experienced real estate agent earns $75,000 a year (equal to $37.50 an hour); the agent will spend in excess of $700 in his/her time managing a transaction. Utilizing a professional coordinator can save the agent over $400 in time. 3
Management
"TMS [Transaction Management Systems] enables agents to spend more time prospecting, getting listings, and selling - true value-added activities that affect your bottom line - instead of spending time on administrative tasks. Most important, you'll have more time to ensure that clients enjoy exceptional service with you." 4
"Implementing TMS [Transaction Management Systems] successfully into your business operations can make you more productive, lower your costs for doing business, and result in more satisfied customers by providing clients with the kind of service they'll increasingly expect." 4
"Implementing TMS [Transaction Management Systems] successfully into your business operations can make you more productive, lower your costs for doing business, and result in more satisfied customers by providing clients with the kind of service they'll increasingly expect." 4
1 McCrea, Bridget. 2004. "The Checklist Approach." California Real Estate Magazine. April 2004. www.car.org/index.php?id=MzM0NzI=&print_page=true (accessed 23 February 2006)
2 Sutachan, Sara. 2006. "Sales + The Right Stuff." California Real Estate Magazine. January/February 2006. www.car.org/index.php?id=MzU4ODA=&print_page=true (accessed 23 February 2006)
3 2003. The Transaction Coordinator: An Underutilized Asset to Residential Real Estate. Clareity Consulting & Communications, Inc. http://www.callclareity.com/Clareity-TC-WhitePaper.pdf (accessed February 20, 2006)
4 Costigan, Todd. 2006. "Automated Closings: Why You Should Use Transaction Management." RealtorMag. January 2006. www.realtormag.realtor.org/technology/tech-watch/article/2006/01/automated-closings-why-you-should-use-transaction-management (accessed 25 March 2014)
2 Sutachan, Sara. 2006. "Sales + The Right Stuff." California Real Estate Magazine. January/February 2006. www.car.org/index.php?id=MzU4ODA=&print_page=true (accessed 23 February 2006)
3 2003. The Transaction Coordinator: An Underutilized Asset to Residential Real Estate. Clareity Consulting & Communications, Inc. http://www.callclareity.com/Clareity-TC-WhitePaper.pdf (accessed February 20, 2006)
4 Costigan, Todd. 2006. "Automated Closings: Why You Should Use Transaction Management." RealtorMag. January 2006. www.realtormag.realtor.org/technology/tech-watch/article/2006/01/automated-closings-why-you-should-use-transaction-management (accessed 25 March 2014)