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| - | Finance ministers in Copenhagen have agreed to increase the size of the eurozone's rescue funds.
| + | What Is a Transaction Coordinator? |
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| - | Eurozone countries agreed to boost the joint lending power of the "firewall" from 500bn to 800bn euros ($1.1tn; �667bn).
| + | 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 firewall is the permanent mechanism to bail out troubled eurozone nations.
| + | 1. Responsible for processing of all contracts through closing. |
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| - | But in reality, what the eurozone countries are doing is making commitments available earlier that they had already agreed to give.
| + | 2. Coordinating appointments for inspections, appraisals, and closing. |
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| - | As Spain and Italy's finances have looked more precarious, investors have been worried about whether the eurozone's firewall could cope with more bailouts.
| + | 3. Effectively communicates with clients, customers, other agents, lenders, title agents and other service providers throughout the process. |
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| - | The new enlarged fund, combined with what the International Monetary Fund has agreed to lend to the eurozone, should be enough to cope with a new crisis, some suggest.
| + | 4. Responsible for proper documentation of the file to comply with brokerage policies. |
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| - | "Including the IMF commitments, this is enough to take care of Italy and Spain for the next three years and that was the point of this exercise," Christoph Weil, senior economist at Commerzbank in Frankfurt, told the BBC.
| + | 5. Assures that all post-closing disbursements, filing, and procedures take place. |
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| - | He added that he did not think Spain and Italy would require bailouts.
| + | 6. Frees the agent client up to focus on business building activities. |
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| - | Others were less convinced.
| + | 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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| - | "Today's decision is a classic European compromise," said Carsten Brzeski, economist at ING bank in Brussels.
| + | 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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| - | "It was as far as the German government was willing to go and it was the minimum most other eurozone countries were expecting.
| + | 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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| - | "A bigger increase... could have sent a stronger signal and would have been more convincing," he said.
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| - | IMF head Christine Lagarde welcomed the move.
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| - | "The IMF has long emphasised that enhanced European and global firewalls, together with the implementation of strong policy frameworks, are critical for ending the crisis and securing international financial stability," she said.
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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.
