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| - | The International Monetary Fund (IMF) and what is now known as the World Bank, were set up to manage the post-World War II global economy.
| + | What Is a Transaction Coordinator? |
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| - | They were conceived in 1944 at a conference in Bretton Woods, in the US state of New Hampshire.
| + | A Transaction Coordinator is a person who takes responsibility for managing the deadlines and tasks of a real estate contract to closing. Some of the duties include: |
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| - | By fostering economic cooperation and helping countries with balance of payments problems the founders hoped to avoid a repeat of the 1930s Great Depression.
| + | 1. Responsible for processing of all contracts through closing. |
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| - | The IMF aims to preserve economic stability and to tackle - or ideally prevent - financial crises. Over time, its focus has switched to the developing world.
| + | 2. Coordinating appointments for inspections, appraisals, and closing. |
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| - | The World Bank's predecessor - the International Bank for Reconstruction and Development - was set up to drive post-war recovery.
| + | 3. Effectively communicates with clients, customers, other agents, lenders, title agents and other service providers throughout the process. |
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| - | Now, it is the world's leading development organisation, working for growth and poverty reduction.
| + | 4. Responsible for proper documentation of the file to comply with brokerage policies. |
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| - | Owned by the governments of its 187 member states, the Bank channels loans and grants and advises low and middle-income countries.
| + | 5. Assures that all post-closing disbursements, filing, and procedures take place. |
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| - | The IMF is funded by a charge - known as a "quota" - paid by member nations. The quota is based on a country's wealth and it determines voting power within the organisation; those making higher contributions have greater voting rights.
| + | 6. Frees the agent client up to focus on business building activities. |
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| - | The IMF acts as a lender of last resort, disbursing its foreign exchange reserves for short periods to any member in difficulties.
| + | In many offices across the country, there are transaction coordinators on staff who are shared among the office. While this approach seems practical or beneficial on the surface because the coordinator is in house and can be accessed by stopping by her/his desk. It's not always the best or most effective approach when explored further. There are many reasons for that, a few are outlined here: |
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| - | Since they were conceived, the IMF has been run by a European and the World Bank by a US national.
| + | a. The transaction coordinator is paid by the office and has a job, which is not always exclusively coordinating transactions. Meaning, they could get pulled away from their job to help the other departments such as receptionist, listing coordinating or what have you. This means they aren't working on your transactions. |
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| - | The IMF and the Bank have served as a rallying point for disparate causes - from environmentalists to anarchists - and meetings have occasionally been accompanied by violent street protests.
| + | b. Interruptions! The facts are clear, it can take more than 20 minutes to get back on task after an interruption. That said, imagine how inefficient it can be if agents are walking in and out of the transactioncoordinators office all day long. |
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| - | Protesters and critics cite the exploitation of the poor and the environment and argue that freer trade threatens the livelihoods of millions of people.
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| - | The IMF has admitted that forcing developing countries to open their markets to foreign investors can increase the risk of financial crises. | + | |
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| - | Its former managing director Horst Koehler said in 2002 that the benefits of globalisation had not been equally shared. But he added that "the objective should not be less globalisation but more and better globalisation."
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| - | == Damage Happens Quick ==
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Current revision as of 05:35, 9 December 2017
What Is a Transaction Coordinator?
A Transaction Coordinator is a person who takes responsibility for managing the deadlines and tasks of a real estate contract to closing. Some of the duties include:
1. Responsible for processing of all contracts through closing.
2. Coordinating appointments for inspections, appraisals, and closing.
3. Effectively communicates with clients, customers, other agents, lenders, title agents and other service providers throughout the process.
4. Responsible for proper documentation of the file to comply with brokerage policies.
5. Assures that all post-closing disbursements, filing, and procedures take place.
6. Frees the agent client up to focus on business building activities.
In many offices across the country, there are transaction coordinators on staff who are shared among the office. While this approach seems practical or beneficial on the surface because the coordinator is in house and can be accessed by stopping by her/his desk. It's not always the best or most effective approach when explored further. There are many reasons for that, a few are outlined here:
a. The transaction coordinator is paid by the office and has a job, which is not always exclusively coordinating transactions. Meaning, they could get pulled away from their job to help the other departments such as receptionist, listing coordinating or what have you. This means they aren't working on your transactions.
b. Interruptions! The facts are clear, it can take more than 20 minutes to get back on task after an interruption. That said, imagine how inefficient it can be if agents are walking in and out of the transactioncoordinators office all day long.
