In short, no Transaction Coordinators do not need to be licensed. There are some states that have specific Rules & Regulations around the tasks that unlicensed vs. licensed Transaction Coordinators can complete (example, Arizona has very specific rules). However, it is preferable that a Transaction Coordinator is not licensed as they can complete all the administrative tasks needed without jeopardizing the agents license with a mistake.

No, Transaction Coordinators do not get Commission, that would be a RESPA/NAR Violation. They get a flat fee that is designated prior to the transaction that is paid by the Agent.

This completely depends on the individual or TC Company. Most TC’s do work from home, but those that like being in the office or are hired by a Team might work from an office. All of Avenue Transactions TC’s work remotely.

This depends on the TC. If the TC is licensed, they are able to write contracts (depending on the Brokerage their license hangs under and the Agent they work for). Unlicensed TC’s are not able to write contracts.

There are a variety of ways that a Transaction Coordinator can get paid. Most Brokerages will allow the Deduction for the TC Fee to be listed on the CDA, so they are able to get paid at the Closing Table like an Agent. However, for those Brokerages that do not allow that, typically the agent pays them directly via Quickbooks, Personal Check, Venmo or any other payment option.

On average, Transaction Coordinator Fees can be $100-$700+ per transaction. Depending on the number of files they are closing per month, they can make anywhere from $25,000 to $100,000 per year.

If you are brand new to the industry and looking to get a position as a Transaction Coordinator I would look for a Team or TC Company that provides training. If you are coming up short on that front, there are tons of YouTube Videos and even online courses that you can take! I would also check with your State Real Estate Board, some states offer certification courses.

This is entirely dependent on the Transaction Coordinator or TC Company. On average, the Contract to Close Fee can be anywhere from $200-$600 per transaction. Avenue Transactions base Contract to Close services fee is $350, with mulitiple add-on options!

Transaction Managment is an individual that aids a Real Estate Agent in the management of the sale or purchase of property. This typically includes coordination of appointments, communication, paperwork and deadlines.

At its core, Real Estate Transaction Coordinator involves the meticulous coordination and organization of various tasks and documents associated with a real estate transaction. A Transaction Coordinator manages deadlines, monitors signatures, creates and manages any necessary paperwork and makes sure that the transaction is staying in compliance with the State. Whether you just started working with a Client or just went Under Contract, a transaction coordinator can help with Listing Entry and Management as well as your Database Management. 

A Transaction Coordinator helps Real Estate Agents with managing Dates & Deadlines, Paperwork, Compliance with the Brokerage, Third-Party Communication, Scheduling Appointments, Tracking Signatures and so much more!

Typically the Real Estate Agent that hired the TC is responsible for the TC Fee. However, there are a lot of Agents that charge thier clients an Admin Fee that covers the TC’s cost so they are not spending anything out of their own pocket!

This is my favorite question :) There is an enormous amount of benefit to hiring a transaction, the biggest is that it frees up your time to focus on what you need to be doing most: LEAD GENERATION. Imagine not having to take the time to answer small, silly questions or deal with paperwork. The average Real Estate Transaction takes about 40 hours from start to finish, 30 of those hours are unlicensed/administrative tasks that can be completed by a Transaction Coordinator.