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-	When you get a credit card supply in the mail that says you are pre-approved, what is the 1st point you appear at on the letter? The interest price, proper? And when you get an offer from a credit card business after filling out an application either through the mail or online, what is the initial factor you want to know? The interest rate. This price determines how much funds you will have to spend for previous due balances every single month. It can make the difference between paying a couple of dollars and a couple of hundred dollars each year.	+	What Is a Transaction Coordinator?
-	So how do credit card organizations decide which price you get? And why is it various for distinct men and women? Well, the easy answer to the last question is that the far better your credit is, the better rate you get. But properly appear at that once more in a minute.	+	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:
-	1st, each and every credit card business that delivers a variable interest price credit card makes use of a base interest price to commence with. This base price is typically the prime price, which is the price charged by key banks to their most creditworthy consumers. The Federal Reserve Board sets this rate and it can up or down depending on the economy. A slow economy signifies a lower rate a flourishing economy signifies a greater rate.	+	1. Responsible for processing of all contracts through closing.
-	So if you apply for a credit card, the business will check your credit score. This score is determined by a lot of variables, including your payment history, you available credit, and the amount of your debt. If you have a higher credit score, meaning a good history, the credit card business will add on a lower percentage rate, or margin rate, to the prime rate to establish the interest you spend on your card. If you have a low credit score due to bankruptcy or other poor credit history, the credit card organization will add on a higher margin rate to the prime price.	+	2. Coordinating appointments for inspections, appraisals, and closing.
-	For instance, if your credit is very good, the company could take the prime price of 5 percent and add on their margin rate for good credit at 3 %. This means you spend eight percent interest on your new card. Your interest rate will adjust anytime the Federal Reserve adjustments the prime price.	+	3. Effectively communicates with clients, customers, other agents, lenders, title agents and other service providers throughout the process.
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		+	4. Responsible for proper documentation of the file to comply with brokerage policies.
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		+	5. Assures that all post-closing disbursements, filing, and procedures take place.
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		+	6. Frees the agent client up to focus on business building activities.
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		+	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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		+	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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		+	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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Current revision as of 05:06, 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.