In order to have an idea of the amount a real estate transaction coordinator is expected to make per transaction, you should clearly define the service offerings of a real estate transaction coordinator. A real estate transaction coordinator, or TC, is a person who assists a real estate agent by performing the administrative duties required during each stage of a transaction from contract to closing. Some of the duties they carry out include opening escrow, coordinating inspections, repair negotiations, and completion of repairs.
Please note that in order to become a real estate transaction coordinator, you will first need to check the requirements of your state. Certification is required in most states, and each state has different regulations. Most real estate coordinators have a background in real estate as licensed brokers or sellers.
With that in mind, we can estimate what a real estate transaction coordinator is expected to make. It is important to point out that there is no one-mold-fits-all when it comes to how much a real estate transaction coordinator is expected to make per transaction. There are some factors that we are going to look into before giving an estimate of how much an average real estate transaction coordinator makes per transaction.
Factors That Determine How Much Real Estate Transaction Coordinators Make Per Transaction
Table of Content
The Capacity of the Real Estate Transaction Coordinator
One cannot conveniently state the amount a real estate transaction coordinator is expected to make from a transaction if you do not know the capacity of the business. As a matter of fact, you cannot equate the amount a real estate transaction coordinator that is just starting out with a well – experienced real estate transaction coordinator who has decades of experience in the industry.
The Location the Real Estate Transaction Coordinator is Covering
We must not rule out the fact that the location the real estate transaction coordinator is covering is a major factor that will determine the amount he or she is expected to earn from a transaction. The truth is that you will struggle to make good money as a real estate transaction coordinator if you locate the business in an area filled with low income earners or in a ghetto and a place that real estate businesses hardly thrives. If you locate your real estate transaction coordinator business close to a highbrow area or an area with loads of high flyers, you are likely going to make good returns from the business.
The Type of Services or Transaction Offered
One cannot conveniently state the amount a real estate transaction coordinator is expected to make from a transaction without clearly defining the type of transaction he or she offers. Basically, a Coordinator organizes resources, including employees, third-party providers, consumers and products for projects on behalf of their clients or employers.
Coordinators typically work in a specific industry, like human resources, hospitality, education or production, specializing in coordinating particular projects, such as events, the hiring of employees, the life cycle of products or educational curricula.
When they ensure projects are executed to a high standard, employers and clients can increase their sales, improve awareness of their brands, increase customer satisfaction and loyalty and boost their reputations. In essence, if the work load per transaction is much, the real estate coordinator would charge more per transaction and if the work load is less, the real estate coordinator will charge less.
The Number of Years the Real Estate Transaction Coordinator is in Business
In business, the number of years you are in existence will go a long way to determine the amount you will make especially if you are creative and always proffer uncommon solutions. This is so because over the years, you would have been able to gain the trust of your customers and it will be easier for you to always have them coming back and also recommending clients to you.
Having said that, on the average, a real estate transaction coordinator makes anywhere from $300 to $500 per transaction.
Please note that when it comes to real estate transaction coordination, customers are always looking to get a reliable and excellent service. Therefore, although real estate transaction coordinator businesses are highly profitable, you should be ready to encounter stiff competition so you should make a point of offering services that stand out from other industry players.