TRANSACTION COORDINATOR SERVICES

THE TRANSACTION COORDINATOR JOB DESCRIPTION

The Transaction Coordinator’s job is to assist our Real Estates Guides in making sure our clients leave a transaction feeling well cared for, well advised, and confident in their buying and selling decision. 

 

The Transaction Coordinator will own the details, working behind the scenes to keep every aspect of the transaction process organized. From the initial agreements, disclosures, contracts, forms, and amendments, they make sure every “i” is dotted and every “t” is expertly crossed. 

 

The Transaction Coordinator manages timelines well and makes sure we are on schedule to close in the allotted time. Their job is to keep the ball moving, making sure all members of a transaction (our clients, other agents, lenders, inspectors, appraisers, escrow officers, and contractors) are on track. 

 

The Transaction Coordinator will overly communicate with all parties regularly. All communications should be prompt, precise, simple, unemotional, and friendly. It is their responsibility to keep the contract to close as smooth and easy as possible!

 

Please read each of the service levels and the Transaction Coordinator pinch points at the bottom of the page

 

CONNECTING WITH THE TRANSACTION COORDINATOR

To loop in The Transaction Coordinator, send them the following information via email:

 

  • Client Name(s)

  • Phone number(s)

  • Email address(es)

  • Buying vs Selling

  • Name of Lending Company (if applicable)

    • Loan officer name with email and phone number

  • Include Pre-Approval Letter (if applicable)

  • Level of Transaction Coordinator Service (see below)

 

From there, the Transaction Coordinator can send out an introduction email to your clients to start prepping docs and getting the ball rolling for 6AH to officially represent client. The Transaction Coordinator will also gather VIP info in the intro email (birthday, anniversaries, favorite restaurant) 

TRANSACTION COORDINATING 1.0

$400 fee to be paid by agent at closing via Title Company 

NOTE - Touch points are not included in this package. If needed, an additional service fee of $50 will be charged along with the cost of touch points ($20; $11 to TC & $9 to 6AH)

For Buyer Representation, the Transaction Coordinator will:

  • Send the buyer preparation intro email

  • Gather client info for VIP list (birthday, anniversary, favorite restaurant, etc)

  • Create and maintain the Brokermint file 

  • Prepare and send all buyer rep docs for signatures  

Once contract is executed:

  • Send the “under contract” email 

  • Send critical dates with calendar invites

  • Circulate amendments and docs for signature and to all applicable parties

  • Coordinate with title and lender 

  • Send the Home Warranty email (if contract allows for Home Warranty)

    • Will coordinate with buyer and title on plan specifications and that title has info to order on behalf of buyer

  • Send “one week to closing” email 

    • Will coordinate closing appointment with client and the title company

    • This email also offers helpful reminders about:

      • Homeowners Insurance

      • Utilities

  • Maintain and gather all documents needed for the compliance file

  • CDA ($125 fee paid by 6th Ave)

    • Guide will NOT need to fill out CDA request form on backsite

    • Will send wire info and approved CDA to title

  • Request Google review from client after close date

NOTE - There is room for other administrative tasks that might arise during the duration of transaction (answering client questions, etc)

TRANSACTION COORDINATING 2.0 

$750 flat fee to be paid by agent at closing via title company + cost of touch points (actual touchpoint service is included in this package)

The primary difference from 1.0 is that under this package, the transaction coordinator will write all documents per the Guide’s instructions.

Buyer Representation:

  • Send “buyer prep” intro email

  • Create and maintain Brokermint file 

    • Will gather client info for VIP list (birthday, anniversary, favorite restaurant, etc)

  • Prepare and send all buyer rep docs for signatures

    • Touchpoint: Send Lucky Lotto touchpoint ($3 fee for postage and lotto ticket)

  • Write contract offer and send for signatures, along with applicable docs (LBPA, square footage disclosure, etc) per guide’s instructions/terms. TC will write four contract packages per client. For each contract past the fourth, there will be an additional $25 fee.

    • Sales price

    • Option period and fee

    • Earnest Money

    • Home Warranty (typically $500-$550)

    • Title company

    • Financing terms (typically 21 days)

  • Can send to listing agent on guide’s behalf, but usually Guide will send directly to listing agent, unless Guide has already spoken with agent and listing agent is expecting the offer. 

Once contract is executed:

  • Send the “under contract” email 

  • Send critical dates with calendar invites

  • Draft and send amendments (per guide’s instructions)

  • Assist in scheduling inspections, repairs, etc.

  • Coordinate with title and lender 

  • Touchpoint: Once we make it through Option period send Melt GC ($0.55 fee for postage; 6AH fronts cost for Melt GC)

  • Send “Home Warranty” email (if contract allows for HW)

    • Will coordinate with buyer and title on plan specifications and that title has info to order on behalf of buyer

  • Send “one week to closing” email 

    • Will coordinate closing appointment with the client’s schedule being the priority, along with ensuring title and guide have that availability too.

    • This email also offers helpful reminders about:

      • Homeowners Insurance

      • Utilities

  • Touchpoint: Send stress away kit ($8 for postage and packaging; 6AH charges $1 for stress ball and head scratcher)

  • Maintain and gather all documents needed for file

  • Touchpoint: Day of or day before closing, send JibJab video (assuming clients picture is on social media)

  • CDA ($125 fee paid by brokerage)

    • Guide will NOT need to fill out CDA request form on backsite

    • Will send wire info and approved to CDA to title

  • Request Google review from client after close date

NOTE - There is room for other administrative tasks that might arise during the duration of transaction (answering client questions, etc)

2.0 SERVICE FAQS

  1. How many contracts are included in 2.0?

    • TC will write up to 4 contracts. Starting at the 5th contract written a $25 fee/contract written will apply. $25 fee is waived on contract that closes.

  2. What if TC writes contract(s) but, contract(s) doesn’t get accepted/close; then guide writes contract that does get accepted/close - what happens in terms of TC fee?

    • TC service automatically reverts to 1.0 + $25/contract written and not accepted. OR

    • TC service can stay at 2.0 and TC will write any amendments, addendums, etc.

  3. Still have ?’s - email victoria@6thavehomes.com or give call (817) 807-3854

TRANSACTION COORDINATING - LISTING

$275 fee to be paid by agent at closing via Title Company 

NOTE - Touch points are not included in this package. If needed, an additional service fee of $50 will be charged along with the cost of touch points ($20; $11 to TC & $9 to 6AH)

Send “listing prep” intro email

  • Create and maintain Brokermint file 

    • Will gather client info for VIP list (birthday, anniversary, favorite restaurant, etc)

  • Prepare & send all listing docs for signatures

    • Sellers Disclosure & RDIF have to be filled out by hand by client, along with the T-47 which needs to be notarized

    • Guide to give terms for sales price, listing begin and end dates, commission percentage agreement, etc.

  • Create a listing in MLS (Guide to review and approve before making listing live)

    • Upload pictures

    • Upload applicable docs (SD, LBPA, survey, T47, etc)

  • Set up the listing in ShowingTime

Once the contract is executed: (will maintain status updates in MLS - Active Option, Pending, etc)

  • Send the “under contract” email 

  • Send critical dates with calendar invites

  • Circulate amendments and docs for signature and to all applicable parties

  • Coordinate with title and lender 

  • Send “one week to closing” email 

    • Will coordinate closing appointments with the client’s schedule being the priority, along with ensuring title and guide have that availability too.

  • Maintain and gather all documents needed for file

  • CDA ($125 fee paid by brokerage)

    • Guide will NOT need to fill out CDA request form on backsite

    • Will send wire info and approved to CDA to title

  • Request Google review from client after close date

TOUCHPOINT SERVICE ONLY

$50 + cost of touch points ($11 to VC & $10 to 6AH)

Total charged to guide: $71

  1. Lucky lotto touchpoint: $2.55 (VC)

  2. Melt GC touchpoint: $0.55 (VC) $5 (6AH) = $5.55

  3. Stress Away touchpoint: $8 (VC) $2 (6AH) = $10

  4. 6AH Branded Stationary: $3

  • Representation or listing agreement docs have been signed 

    • Touchpoint: Send Lucky Lotto touchpoint ($2.55 fee for postage and lotto ticket)

  • Executed Contract/made it through Option

    • Touchpoint: Send Melt GC with note ($0.55 fee for postage, $5 Melt GC cost fronted by 6AH; will be charged on CDA)

  • 1-1.5 weeks before closing/lending is good to go

    • Touchpoint: Stress Away Kit w/note ($8 fee for postage/packaging, 6AH charges $2 for stress ball and head scratcher)

  • Day before or day of closing

    • Touchpoint: JibJab video (assuming clients have accessible pictures on social media)

Two optional extra touch points that can be coordinated within the $50 fee

  • Coordinating a home painting by Julia Lipari 

    • She will invoice guide directly for painting and postage if you need her to mail it

  • Coordinating Tiff’s Treats to be delivered to clients 2-3 weeks after they move in

    • Guide to provide credit card information to be used to pay for cookies (approximately $25)

TRANSACTION COORDINATOR PINCH POINTS

  1. Being looped in at the beginning to do initial docs, but then being excluded from deal once under contract 

  2. Being looped in mid transaction 

  3. Being told TC services are not needed, but then being cc’d on every email for “document storage”

  4. Being told TC services are not needed, but then being asked for “one off’s” (“can you send this out for signatures” or “do you mind handling this”)

  5. Deal falls apart and client chooses to no longer move forward after touch point services have taken place

Solutions to the above:

  • Flat fee of $175 should 1-4 of the above occur

  • For #5, $25 flat fee + the cost of touch point(s) to be paid within 30 days