How to Work with Your New Transaction Coordinator
It’s a valid and important question. Everyone told you your real estate business needed a real estate transaction coordinator. You took the advice, now you’ve hired one after a long screening and interviewing process. It took weeks, maybe even months, to find the perfect real estate TC so now that this person is hired and ready to work, how can you be sure this will all work out for the best possible outcome: increased time for all of the real estate agents to focus on money generating tasks?
Let’s find out how to work with your new transaction coordinator so all that time and energy spent finding one doesn’t go to waste.
Tips on Creating a Productive Relationship with a New Real Estate TC
If you own a real estate business, you know your time is precious. Without time, there’s no chance you will be able to find and connect with new real estate clients. No clients means no income, which results in shutting down your business. No one wants that! One of the best ways to increase your real estate business’s income is to enlist a real estate TC to take over the daily overwhelming amount of real estate transaction paperwork. But how can you, as the owner, develop a symbiotic relationship between your current staff and the newest member of your real estate team, whether the transaction coordinator is a direct-hire, or is an independent agency?
Staff Introductions
More often than not, a real estate transaction coordinator will work remotely even if they’re a direct-hire employee that works only for your real estate office. Though it isn’t absolutely necessary to have an in-person introduction, it’s imperative that you do introductions with your entire team. Your current staff needs to meet the newest member of the team, not just to put a face to a voice and name, but also to make sure everyone understands the roles each person will play going forward.
Set up a staff meeting specifically for this “meet-and-greet”. Ample time should be dedicated to the first meeting, as it will be the time you set up the tasks for your new transaction coordinator and open the floor to questions.
New Transaction Introductions
With each new transaction, there’s going to be new players in the game. Although a face-to-face Zoom meeting introduction isn’t necessary, an email introducing the key players to one another goes a long way not just for the new key player, a.k.a. transaction coordinator, but also for the entire team involved.
Pay Attention
Yes, you want to trust your new real estate TC and you want them to feel this role is their own, and they are respected for their new role. However, you still need to play more of a supervisory role and continue to be involved. Let the TC know you want to be copied on all correspondence in the transactions assigned to them.
A key part of maintaining a positive and mutually respectful relationship with your real estate transaction coordinator is to actually review the emails before requesting documents, because more than likely you have been sent the document you need. Your real estate TC will be organized, and to remain efficient, they really don’t want to have to resend documents and paperwork. Paperwork is their jam, and organized paperwork is their bread and butter (and that jam).
Kind and Consistent Communication
Always remember to treat one another as you wish to be treated. If you aren’t okay with how they speak to you, let them know and allow them the freedom to speak just as openly with you about their dislikes. Another important part of communication: consistency. Have regular “check-in” or “client updates” emails and phone calls. Set a time for regular calls each week, and keep to the schedule. Have a specific time that update emails are sent each day, and stick to the deadlines.
Respect Work Schedules
A transaction coordinator helps take paperwork off of your plate, but it doesn’t mean they’re going to want to answer calls and respond to emails at all hours of the day and night. Set specific work hours and respect those schedules. No one wants to spend weeks and months hiring and training a new person, as well as honing a relationship with an amazing real estate TC, only to have them burn out and quit after a year.
The three golden rules:
Set timelines for work to be done.
Give due dates.
Respect the work hours agreed upon.
Feedback is Essential in Your Relationship with Your Transaction Coordinator
Your business will flourish if you consider all of the above tips, but it will be even more fruitful if you provide constructive feedback. Let them know what works, because hearing positive feedback is important in all relationships.
If there’s something you don’t think is working, or you don’t understand their process, talk about it in a one-on-one meeting. It’s best to provide constructive feedback without other people on a call. You can figure out how best to handle the issue together.
Once a transaction is completed, have a wrap-up meeting to go over what both you and your transaction coordinator can improve upon in order to strengthen your working relationship. As they say, team work makes the dream work!
Find Financial Success with Your Real Estate Transaction Coordinator
Regardless of whether your transaction coordinator is a direct-hire or an independent real estate TC, they’re a part of your real estate team and will be the key to financial success for your business. The weight a transaction coordinator takes off of a real estate agent’s shoulders is priceless, as it allows a real estate agent the opportunity to focus on money-generating activities and tasks.
Real estate transactions don’t have to be a source of stress, but rather just a fantastic source of income. It can be done with the right transaction coordinator. Contact us today to learn more about Be Happy TC can help grow your real estate business and increase your income.
