The following are some of the primary benefits of a Transaction Coordinator (TC):
Focusing core competencies
Dedicating someone solely to the transaction process relieves the Agent of administrative responsibilities, allowing them to do what they do best, create relationships and drive new business. This allows for greater productivity by all parties concerned focusing on their core competencies.
Increase customer satisfaction & gain repeat business
Today's consumers expect to be kept in the loop and to receive immediate answers regarding their affairs. Real Estate agents are busy people and, when available to talk, don't always have the answer on hand but also need to be in the loop. This is the primary customer complaint - lack of communication. Consumers will find that in working with a TC who is more readily available then their Agent allows them quicker and more comprehensive answers to their questions. These benefits add up to improved customer satisfaction, referrals and repeat business.
Focus Agents on finding new clients and selling
property = $$$
Currently agents are caught in a giant web of communication with all of the players in the transaction. Lots of time is spent on the phone, fax, and in e-mail ordering products and services and checking on their status. Using a TC, much of this time could more profitably spent finding new clients, selling property, and other tasks that increase productivity, resulting in greater revenues - dollars on the bottom line. While the TC spends an average of 12.5 hours on a typical transaction, the average agents spend approximately 19 hours managing a transaction. The time spent managing the transaction has significant financial implications on the agent.
Narrows the funnel of information
With the growing number of people involved in a single transaction, from inception to closing, information is being distributed multiple times, to multiple parties and can easily be mishandled, misunderstood or misdirected if a central facilitator does not remain in control of the critical communications.
Time frames are more likely to be met according to contract or issues may go unnoted for longer periods of time.