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| - | The Greek PM has warned the nation of a collapse in living standards if MPs fail to pass an unpopular austerity bill demanded in return for a 130bn-euro ($170bn; �110bn) bailout.
| + | What Is a Transaction Coordinator? |
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| - | In a TV address, Lucas Papademos said Greece was "just a breath away from Ground Zero".
| + | 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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| - | The cabinet has approved the measures but five government ministers resigned.
| + | 1. Responsible for processing of all contracts through closing. |
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| - | Unions are holding a 48-hour strike, and thousands of protesters rallied in central Athens against the measures.
| + | 2. Coordinating appointments for inspections, appraisals, and closing. |
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| - | Riot police were on standby after clashes on Friday, but the demonstrations were mostly peaceful.
| + | 3. Effectively communicates with clients, customers, other agents, lenders, title agents and other service providers throughout the process. |
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| - | The austerity measures are being demanded by the eurozone and IMF - they must now be passed by the Greek parliament and approved by European finance ministers.
| + | 4. Responsible for proper documentation of the file to comply with brokerage policies. |
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| - | Some MPs from the governing parties are expected to vote against the bill, the BBC's Mark Lowen in Athens reports.
| + | 5. Assures that all post-closing disbursements, filing, and procedures take place. |
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| - | But analysts say the package should still have enough support in parliament, because Pasok, the largest party, and its coalition ally New Democracy account for more than 230 deputies out of a total of 300.
| + | 6. Frees the agent client up to focus on business building activities. |
| - | Catastrophe fear
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| - | Mr Papademos said the measures would "decide the country's future" and enable it to stay inside the euro.
| + | 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: |
| - | Continue reading the main story
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| - | What went wrong in Greece?
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| - | An old drachma note and a euro note
| + | 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. |
| - | Greece's economic reforms, which led to it abandoning the drachma as its currency in favour of the euro in 2002, made it easier for the country to borrow money.
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| - | The opening ceremony at the Athens Olympics
| + | 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. |
| - | Greece went on a big, debt-funded spending spree, including paying for high-profile projects such as the 2004 Athens Olympics, which went well over its budget.
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| - | A defunct restaurant for sale in central Athens
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| - | The country was hit by the downturn, which meant it had to spend more on benefits and received less in taxes. There were also doubts about the accuracy of its economic statistics.
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| - | A man with a bag of coins walks past the headquarters of the Bank of Greece
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| - | Greece's economic problems meant lenders started charging higher interest rates to lend it money. Widespread tax evasion also hit the government's coffers.
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| - | Workers in a rally led by the PAME union in Athens on 22 April 2010
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| - | There have been demonstrations against the government's austerity measures to deal with its debt, such as cuts to public sector pay and pensions, reduced benefits and increased taxes.
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| - | Greek Prime Minister George Papandreou at an EU summit in Brussels on 26 March 2010
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| - | The EU, IMF and European Central Bank agreed 229bn euros ($300bn; �190bn) of rescue loans for Greece. Prime Minister George Papandreou quit in November 2011 after trying to call a referendum.
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| - | Greece's problems have made investors nervous, which has made it more expensive for other European countries such as Portugal to borrow money.
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| - | Eurozone leaders are worried that if Greece were to default, and even leave the euro, it would cause a major financial crisis that could spread to much bigger economies such as Italy and Spain.
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| - | Lucas Papademos
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| - | Under Prime Minister Lucas Papademos, Greece is trying to negotiate a big write-off of private debts and secure a second bail-out of 130bn euros ($170bn, �80bn) before a 20 March deadline.
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| - | "The social cost of this programme is limited in comparison with the economic and social catastrophe that would follow if we didn't adopt it," he said.
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| - | Savings would be lost, the government would be unable to pay wages or salaries, and imports of fuel, medicine and machinery would be disrupted, he added.
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| - | Earlier, Greek conservative leader Antonis Samaras said all his party's MPs must vote in favour of the bailout law.
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| - | Mr Samaras, whose New Democracy party is a member of the governing coalition, said any rebels would face being dropped as parliamentary candidates.
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| - | Deputy Foreign Minister Mariliza Xenogiannakopoulou, who quit on Friday afternoon, is the most senior defection so far.
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| - | Her Pasok party, the largest in the coalition, also suffered the loss of a deputy labour minister on Thursday.
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| - | The austerity cuts include:
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| - | * 15,000 public-sector job cuts
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| - | * liberalisation of labour laws
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| - | * lowering the minimum wage by 20% from 751 euros a month to 600 euros
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| - | * negotiating a debt write-off with banks.
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| - | These were presented to a eurozone ministers in Brussels on Thursday evening.
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| - | But they want a further 325m euros in savings for this year and also insist that Greek leaders give "strong political assurances" on the implementation of the packages.
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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.
