A remote transaction coordinator helps the real estate agent and broker to process the real estate file. The remote transaction coordinator collects all the information, all the documents and follows the elements of the contract. Then, the remote transaction coordinator assembles the final broker file of the real estate transaction. Transactional coordinators are on the rise in real estate. Real estate teams say up to 34% of their team claims transaction coordination as their primary function. As transaction management companies like Zillow`s DotLoop create workflows for transactional coordinators, they are also becoming increasingly remote. Transactional coordinators ensure compliance through workflows or loops. Loops are created based on individual state requirements. Templates are created from the loop, so the transaction coordinator knows exactly what to do from the contract to the conclusion.
In each loop is the Compliance Review Note Center. In this way, an agent can open lines of dialogue between people in the loop, allowing the officer or TC to send a note to a single person or groups of people. Agents and TCs can access loop notes, either inside documents. This feature is a powerful tool to track your notes inside a loop and creates an audit trail for compliance purposes. A remote transaction coordinator will significantly reduce stress during a real estate transaction, as it will free up time for the agent and manage compliance on the way.. . .