A remote transaction coordinator drastically reduces stress in a real estate transaction because it frees up time for the agent and manages compliance along the way. Transaction coordinators manage compliance through workflows or loops. Loops are created based on individual status needs. Models are created from the loop so that the transaction coordinator knows exactly what to do from one contract to the next. In each loop is the Compliance Review Notes Center. In this way, an agent can open lines of dialogue between the people in the loop so that the agent or the TC can send a note to either a single person or to a group of people. Agents and TCs can access loop notes either from the loop or from documents. This feature is a powerful tool for tracking your notes in a loop, and it creates an audit track for compliance purposes. A remote real estate transaction coordinator assists the real estate agent and broker in the processing of the real estate file. The remote transaction coordinator collects all information and documents and tracks contractual points. Then, the remote translation coordinator assembles the last brokerage file of the real estate transaction.
Transaction coordinators are on the rise in real estate. Real estate teams report that up to 34% of team claims from transaction coordination as their main function. As transaction management companies like DotLoop create software and workflows for transaction coordinators, they are also increasingly distant.