10 Questions You Should Ask Before Hiring a TC
As a real estate agent, you already know that you don’t have any time to waste because you’re already juggling too many tasks and responsibilities. When you’re ready to streamline your operations and make sure every transaction runs smoothly, you might turn to a transaction coordinator for help.
Professional Transaction Coordinators, like us, specialize in managing the intricate details of a real estate transaction - which allows you to focus on what you do best! However, finding the right transaction coordinator for your business requires careful consideration and involves asking some tough questions. Here are the ten essential questions every real estate agent should ask before hiring a transaction coordinator.
1. Background and Experience in Real Estate Transactions
This might seem obvious but the first question you should ask a potential transaction coordinator is about their professional background. How long have they been working in the real estate industry? What specific experience do they have in managing transactions? Look for a company with a solid track record and relevant expertise.
2. Certifications
Experience is great but you should also ask them about any certifications or training that they may have as a transaction coordinator. Certifications can indicate a commitment to professionalism and a strong understanding of the intricacies of real estate transactions.
Additionally, you might want to ask if they coach or train other transaction coordinators. If they do, it's an added bonus because that means they are staying on top of their game to teach others.
3. Current Client Load
This is where working with a transaction coordination service may be more beneficial than using an in-house transaction coordinator. It's crucial to assess the coordinator's current workload and whether they have the capacity to take on your transactions without compromising quality or timelines. Overloaded TCs may struggle to provide the attention your transactions deserve.
4. After Office Hours Availability
Setting clear expectations upfront is really important and communication is key in real estate. If you need a transaction coordinator to be available during your office hours - state that up front and ask how to get in contact with them when there's an urgent matter.
5. Real Estate Software and Tools
As a transaction coordination service, we know that most real estate agencies rely on specific software and tools for transaction management. While we have our own tools and software, it's important to ask how familiar a TC is with the real estate software and tools you use. A coordinator who is already familiar with your systems can save time and reduce the learning curve.
6. Communication Styles Between All Parties
Remember, this is an interview and because effective communication is paramount in real estate transactions, you need to ask about communication styles. To put it bluntly, you need to ask "How do you handle communication with clients, agents, and other parties involved in the transaction?" Their communication style is important because it's also a reflection on the work you do so ask the coordinator about their communication style and how they ensure that all relevant parties stay informed throughout the process.
7. Progress Reports & Regular Updates
We know this isn't school but transparency is essential so asking a transaction coordinator if they can provide regular updates and reports on the progress of transactions is a great question to ask. While you can also request examples of those updates and reports, it's important to remember that the format isn't as important as ensuring that you're always well-informed about the progress of your deals
8. Expect the Unexpected
Real estate transactions can be unpredictable. Ask the transaction coordinator how they handle unexpected issues or complications that may arise during a real estate transaction. Learning about the coordinator's problem-solving skills and their approach to handling unexpected challenges will shed light on their past experiences and how well-equipped they are to handle the unexpected.
9. Get References
If you really want to know how easy or hard it is to work with a TC, ask their current or previous clients. References offer valuable insights into a coordinator's performance and professionalism. Don't hesitate to ask for references and follow up with these individuals to gather feedback.
10. Fee Structure
If you're truly interested in working with a transaction coordinator, one of the best questions to ask is "What are your fees for transaction coordination services, and how are they structured?" Understanding the cost structure upfront will help you budget effectively and avoid any surprises down the road. You might also want to ask if they require a contract for working with them and, if they do, what are the terms and duration of the agreement. You want to be crystal clear on the terms of your working relationship and ensure they align with your needs.
Questions are Important for Both Parties
Hiring a transaction coordinator can be a game-changer for you as a real estate agent looking to streamline your operations and improve client satisfaction. It's important to conduct a thorough evaluation before you start working with Be Happy TC or any other transaction coordinator service. Not only is it vital for your business but it's also helpful for ours! We get a chance to provide answers on our work and ask follow-up questions about how you work, too. By doing so, you can ensure that you find a coordinator who is not only qualified but also aligned with your business goals and communication preferences. The more aligned we can be, the more transactions we can complete - creating a more efficient real estate business for you.
