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-	he proportion of shops in Britain lying empty has hit a new record of 14.6% in February, according to figures compiled by the Local Data Company.	+	What Is a Transaction Coordinator?
-	Vacancy rates had begun to stabilise at the end of 2011, but they have risen in January and February, the LDC said.	+	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:
-	It is further evidence of a difficult start to the year for retailers.	+	1. Responsible for processing of all contracts through closing.
-	Consumer confidence also slipped back in February, the latest survey from Nationwide indicated, largely due to concerns about employment prospects.	+	2. Coordinating appointments for inspections, appraisals, and closing.
-	Continue reading the main story	+
-	�Start Quote	+
-	It is a timely reminder to the government... of the significant challenges facing town and city centres up and down the country�	+	3. Effectively communicates with clients, customers, other agents, lenders, title agents and other service providers throughout the process.
-	End Quote Matthew Hopkinson Local Data Company	+	4. Responsible for proper documentation of the file to comply with brokerage policies.
-	* High Street casualties	+	5. Assures that all post-closing disbursements, filing, and procedures take place.
-	* Cautious consumers 'pay off debt'	+
-	* Job woes hit consumer confidence	+
-	* Sharp decline in UK retail sales	+
-	There was an increase in the number of respondents describing their economic situation as bad.	+	6. Frees the agent client up to focus on business building activities.
-	"Consumers also scaled back their expectations for the future, with the forward-looking aspects of the index weakening during the month," said Nationwide chief economist Robert Gardner.	+	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:
-	New figures from the Bank of England, also released on Friday, back this up.	+	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.
-	Cautious consumers are choosing to pay off credit cards and loans, rather than take on new borrowing, the data indicate.	+	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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-	Evans Cycles, one of the UK's biggest bike retailers, told the BBC's Today programme that it was having to be very conscious about prices.	+
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-	"We are peddling into a headwind in terms of the consumer economy," said chief executive Nick Wilkinson. "Confidence remains low, getting people to spend money on a bike is about persuading them that it is value for money."	+
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-	However, Nationwide added that the number of consumers planning to buy household goods - an indicator of confidence - was higher in February than a year earlier.	+
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-	This reflects official retail sales data for the month, published by the Office for National Statistics (ONS) on Thursday.	+
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-	Sales volumes declined by a larger-than-expected 0.8% in February, the ONS said.	+
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-	But they were still 1% higher than a year earlier.	+
-	'Damaged' High Streets	+
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-	The Local Data Company said the rise in empty premises was "not unexpected" as retailers continue to cut back and even go bust.	+
-		+
-	Game, which has 600 High Street branches in the UK, said this week that it was going into administration after key suppliers stopped doing business with them. It is continuing to trade while it tries to find a solution to its debt problems.	+
-	Continue reading the main story	+
-	'Most at risk towns and cities'	+
-		+
-	* Bradford	+
-	* Derby	+
-	* Wolverhampton	+
-	* Southampton	+
-	* Hull	+
-	* Sheffield	+
-	* Swindon	+
-	* Warrington	+
-	* Stockport	+
-	* Nottingham	+
-		+
-	Source: BNP Paribas Real Estate ranks retail centres according to likelihood of more shops closing and the place's ability to withstand a weakening economy	+
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-	"It is a timely reminder to the government, who are due to respond to the Portas Review this month, of the significant challenges facing town and city centres up and down the country," said LDC director Matthew Hopkinson.	+
-		+
-	Retail consultant and TV presenter Mary Portas was asked by the government to look at ways to revitalise struggling town centres.	+
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-	Her report, published in December 2011, recommended cutting regulations and proposed a bigger role for street markets in town centres.	+
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-	"It's crucial that the government responds to Mary's review with a menu of recommendations next week that local people, councils and businesses can 'pick and mix' to help start to reverse the damage that many of our high streets have suffered," said Ian Fletcher, director of policy at the British Property Federation.	+

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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.