Real Estate Transaction Coordinator Agreement By A...

If you are a transaction coordinator then you know you need a real estate transaction coordinator agreement to protect yourself.

Providing services to real estate agents and brokers as a real estate transaction coordinator is great.

Coordinators provide an essential service providing administrative assistance throughout the home buying and selling transaction process to ease the burden real estate agents shoulder.

Being a real estate transaction coordinator can be very lucrative, but only if you protect your business with a transaction coordinator agreement to avoid legal liability and lawsuits.

You need a legal contract anytime you work with clients, and the real estate industry is no different.

Also, real estate professionals deal with contracts involving the transfer of large amounts of money, meaning mistakes or oversights can cost a lot of money.

That’s why they need a neutral third party that provides transaction coordination services so agents and brokers can spend more time with their clients.

You must use a transaction coordinator to protect your business and avoid legal disputes and issues.

As a business lawyer and entrepreneur myself, I’m sharing my comprehensive legal templates made specifically for transaction coordinators that you can use to protect yourself instantly.

You will also learn everything about agreements for transaction coordinators and why you need one to do your due diligence as a transaction coordinator.

Table of Contents

What is a Real Estate Transaction Coordinator?

A transaction coordinator (TC) plays a pivotal role in real estate deals as a neutral third party who oversees all the administrative tasks and paperwork.

While many new real estate agents handle everything themselves, established agents and brokers understand the value of the services of a transaction coordinator.

As a real estate service provider, you save a lot of frustration and time for your clients, but that also opens you up to legal issues that can cost a lot of money, wasted time, and stress.

Watch this video where I was interviewed by a Transaction Coordinator to learn more:

What is the Responsibility of a Transaction Coordinator?

Below are the MAIN responsibilities and administrative duties of independent transaction coordinators:

Streamline all the administrative tasks for a smooth closing process.
Ensure document accuracy and compliance with all regulations on paperwork like the listing agreement, transaction coordination sheet, and purchase agreement.
While you can’t review contracts with clients without a real estate license, you can look over everything once everyone signs the paperwork.
Manage timelines and deadlines for brokers and agents, such as the closing date, final walk-through, counteroffers, and status updates, to ensure the deal stays on track and schedule.
Handle coordination and communication, like scheduling a property appraisal or home inspection, ordering homeowners association resale packets, and coordinating with the title company.
Act as a project coordinator, staying in constant contact with all the parties involved in the deal.
Supervise underwriting to make sure everything clears quickly.
Provide support and find solutions to any problems that arise, from home inspection concerns to issues with financing that can derail the process.
Confirm funding, like when a buyer deposits money into an open escrow account

As a transaction coordinator, you must also have strong project management and communication skills.

An experienced transaction coordinator can make the entire process easier and less bumpy for any licensed real estate agent or broker.

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What is a Transaction Coordinator Agreement?

A great Transaction Coordinator knows their worth and understands the importance of using contracts.

Transaction Coordinator Agreement is a crucial contract for agents who manage the administrative aspects of a property transaction.

Unlike traditional agents, Transaction Coordinators (TCs) focus solely on handling the paperwork and procedural details without representing the buyer or seller’s interests.

It’s a contract that outlines the specific responsibilities and duties of a TC, ensuring clarity and legal protection for you and your client.

By defining the scope of services you provide, this agreement helps minimize the risks of legal liability and expensive lawsuits and avoid potential misunderstandings.

This agreement for real estate brokerage not only provides legal protection but also gives you peace of mind, knowing your own business is protected.

It’s a legal contract that explains all the legalities of working with an online or in-house transaction coordinator.

This document covers things such as services you provide, compensation, when a late fee will be applied, and much more.

It’s crucial to have your legal and financial interests covered, but don’t worry; you don’t need to hire an attorney to draft one for you.

As a business lawyer, I’ve created a transaction coordinator contract template and a full-coverage bundle for an affordable price (more on that in a little) that gives you everything you need!

How Does a Transaction Coordinator Agreement Differ from a Listing Agreement?

A transaction coordinator agreement and a listing agreement are two separate contracts that are often used in the real estate industry.

While both agreements are related to the sale of a property, there are some key differences between them.

Firstly, a listing agreement is an agreement between a seller and their chosen real estate agent.

This agreement outlines the terms and conditions for the agent to list and market the property for sale.

The listing agreement typically includes details such as the length of time the property will be listed, the commission rate for the agent, and any specific marketing strategies to be used.

On the other hand, a transaction coordinator agreement is a contract that can be used by either the buyer or seller in a real estate transaction.

This agreement is typically between the party using a transaction coordinator and the coordinator themselves.

The purpose of this agreement is to outline the specific duties and responsibilities that the transaction coordinator will have in the sale or purchase of a property.

Main Differences

One of the main differences between these two agreements is their focus and scope.

A listing agreement primarily focuses on marketing and selling a property, while a transaction coordinator agreement is more focused on ensuring a smooth and organized process for closing the sale.

Additionally, listing agreements are often exclusive, meaning that only one agent has the right to market and sell the property during the agreed-upon time frame.

On the other hand, transaction coordinator agreements can be non-exclusive, allowing multiple parties to use a transaction coordinator for their real estate transactions.

Another key difference is the timing of when these agreements are signed.

A listing agreement is typically signed before a property is listed on the market, while a transaction coordinator agreement can be signed at any point during the buying or selling process.

Why Transaction Coordinators Need a Legal Agreement

Understanding your financial and legal rights and what you’re responsible for as a coordinator is important.

Inevitably, things will go wrong in the world of real estate transactions, and you can be left holding the bag or footing the legal bill.

Legal mistakes can be costly, even for a new business owner.

I witnessed this firsthand when a contractor sued my father’s small business for $90,000, and we lost all that money and time.

This contract ensures your hard work isn’t in vain and that your TC business is legally covered.

Talking about working with freelancers, you should also look into my Independent contractor agreement template here that can be used for any freelance work.

Confidentiality agreement NDA template for business

What to Include in a Transaction Coordinator Agreement

A transaction coordinator agreement must include these key legal provisions to protect your legal rights:

Your engagement and contract term
The services you’ll provide
Compensation
Late payment fee clause to ensure payment on time!
Termination policy
Legal compliance provisions
Protection of your Intellectual Property
Portfolio rights and rights to display deliverables
Confidentiality legal provisions (A must-have when dealing with confidential information)
Independent contractor status (Our freelance contract template can also help with this.)
Business hours
Expense policy
Limitation of legal liability provisions
Mediation and Arbitration clauses
Governing Law
Representations and Warranties of both parties

and more!

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Transaction Coordinator Agreement Template (by a Lawyer)

Now, I know that seems like a lot and quite overwhelming.

That’s why I’ve made it easy for transaction coordinators to create a customizable contract that can be used repeatedly with their clients.

I’ve included all the necessary provisions in this detailed and comprehensive 12-page contract.

I’ve also taken care of all the complicated legal terminology.

All you have to do is follow the clear instructions and just fill in some highlighted blanks.

You can have a comprehensive legal document ready to send to your clients in 15 minutes or less.

Once both parties have signed the contract, you have fully executed legal documentation covering your liabilities and protecting your rights.

Amazing Free Bonuses

When you buy the Transaction Coordinator Template, you also get these amazing bonuses:

Non-Solicitation and Non-Recruit Clause
Non-Compete Agreement
Mediation And Arbitration Agreement
A Guide on 8 Secret Ways to Make Affiliate Income Every Month

Get this template and bonuses here.

Transaction Coordinator Legal Bundle (by a lawyer)

A real estate agent and transaction coordinators came to me and asked me to write this contract template.

That’s a custom contract drafting service I offer here.

However, I decided to make this a template, which is more accessible and affordable for everyone.

Since I knew it could help others, I also created a Transaction Coordinator Legal Bundle with 5 must-have legal templates and 12 bonus templates for the most comprehensive legal protections.

This bundle includes:

These legal templates come with bonuses that provide even more legal coverage for your website and real estate business, including:

GDPR Visitor Rights Policy
GDPR Email Marketing Policy
Cookie Policy
Third-Party Links Disclaimer
Earnings Disclaimer
Sponsored Post Disclaimer
Testimonials & Product Review Disclaimer
Lawful Use Of Website Clause

Now, you may be wondering, can’t I just use one of the free templates for coordinators that I can find online?

While it may be tempting to skip the paid contract templates, these 50+ smart online entrepreneurs will tell you why using a free template is NOT the best option.

I have been auditing free legal templates for over a decade as a lawyer.

And I have found them to be missing key legal provisions exposing you and your business at risk, making them unreliable.

See how much my customers love our legal templates.

Are you ready to protect your business and avoid the costly mistake many transaction coordinators make without legal contracts in place?

Avoid the stress of wasting days or weeks researching the legalese yourself.

Click here to get the essential legal agreement for transaction coordinators (written by a lawyer) OR the real estate transaction coordinator legal bundle (BEST CHOICE)

FAQs on Transaction Coordinator Agreement

Below are answers to some important questions related to a transaction coordinator agreement.

What is a transaction coordinator agreement?

As explained above, a Transaction Coordinator Contract is a crucial legal document for real estate agents who manage the administrative aspects of a property transaction.

Unlike traditional agents, Transaction Coordinators (TCs) focus solely on handling the paperwork and procedural details without representing the buyer or seller’s interests.

It’s a contract that outlines the specific responsibilities and duties of a TC, ensuring clarity and legal protection for you and your client.

By defining the scope of services you provide, this agreement helps you stay out of legal trouble!

What are the tasks of a transaction coordinator?

A transaction coordinator facilitates the paperwork process between a buyer, seller, and the real estate agents for them.

Some common tasks and duties are:

Streamlining all the administrative tasks for a smooth closing process.
Ensuring compliance with all regulations and document accuracy of the paperwork involved in real estate transactions
Managing timelines and deadlines for brokers and agents
Supervising underwriting to make sure everything clears quickly.
Handling all coordination of paperwork and deals, as well as communication between all parties
Providing support and finding solutions for problems as they arise during real estate transactions
Confirming funding, like when a buyer deposits money into an open escrow account

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Is a transaction coordinator worth it?

Hiring a transaction coordinator is definitely worth it in certain circumstances.

For example, a for-sale-by-owner seller may hire a transaction coordinator because they know they are buyers and don’t need help with any negotiating or marketing.

Also, if you have many clients and need administrative help, it’s beneficial to hire someone to coordinate transactions as a seller or broker.

This way, real estate agents get relief from the administrative burden, allowing them to focus on their core duties such as finding and closing deals.

How do you introduce yourself as a transaction coordinator?

To introduce yourself, you can simply mention your name and your role in the real estate transaction.

When networking, you can tell people WHAT you do and HOW they can benefit from hiring you to deal with the administrative tasks and documents.

This introduction will give potential clients a better understanding of how you can assist them in their real estate transactions.

So, it is essential to present yourself professionally and confidently when introducing yourself as a transaction coordinator.

How do I market myself as a transaction coordinator?

Marketing yourself as a transaction coordinator can be crucial for attracting clients and growing your business.

Here are 5 tips to effectively market yourself as a transaction coordinator:

Utilize social media platforms such as LinkedIn, Twitter, and Instagram to showcase your services and expertise in managing real estate transactions. Regularly post content related to the real estate industry, including helpful tips and insights for potential clients.
Network with other real estate professionals such as agents, brokers, and lenders to build connections and potential referral sources. Attend local events or join online groups to expand your network.
Create a professional website that highlights your experience, services offered, and testimonials from satisfied clients.
Offer competitive pricing and packages to attract clients, especially in the early stages of your business.
Utilize online marketing tools such as Google Ads or Facebook Ads to target potential clients in your area. Pro tip: You can use this AI tool to create all your marketing content 10x faster!

Here are some great tools you can use too.

Remember that word-of-mouth recommendations and positive reviews from satisfied clients can also be powerful marketing tools for a transaction coordinator.

So, always strive to provide excellent service and maintain strong relationships with your clients.

Final Thoughts on a Transaction Coordinator Agreement

In the complex and fast-paced world of real estate, having a well-drafted Transaction Coordinator contract is indispensable.

As a Transaction Coordinator, you play a vital role in efficiently handling all administrative tasks and paperwork.

That allows real estate agents and brokers to focus on their clients.

This agreement outlines your responsibilities and protects your legal and financial interests as well as your clients.

It also provides peace of mind to everyone you work with, knowing that a professional is managing the critical details of their transactions.

By clearly defining the scope of services, compensation, and legal protections, the Transaction Coordinator Agreement eliminates risks and legal issues.

In this post, we’ve detailed the importance of having such an agreement, the essential provisions it should include, and how it can safeguard your business from costly legal disputes.

Remember, investing in a professionally drafted contract that you can customize and use over and over again is a proactive step toward protecting your business.

A legal document like this also ensures smooth and successful real estate transactions.

Don’t leave your legal and financial security to chance—equip yourself with the right tools to thrive as a Transaction Coordinator.

Ready to protect your business and avoid the costly mistakes many coordinators make? Click here to get your essential legal agreement OR the comprehensive legal bundle drafted by a professional lawyer for complete legal coverage.

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