More and more agents rely on a transaction coordinator (TC) to help run a real estate business. TCs can work as employees or free-lancers, and don't require a real estate license. Learn how to become a transaction coordinator and earn a certification to work with real estate agents.
Certified Transaction Coordinator (CTC) - 5 Course Bundle for Non-Licensees
Earn your certification as a California real estate transaction coordinator with this 5-course bundle. Training intended for non-licensees looking to get into real estate.
$749.00
Certified Transaction Coordinator (CTC) - 5 Course Bundle for Licensees
Earn your certification as a California real estate transaction coordinator with this 5-course bundle for active licensees. Take this course at your own pace.
$738.00
Transaction Coordination 2: Beyond the Contract
Learn the complexities of real estate transaction coordination, the attributes of a successful TC, how to run a TC business and everything in-between.
$198.00
A real estate transaction coordinator (TC) is an unlicensed assistant to a licensed real estate agent. A transaction coordinator is similar to an underwriter in the mortgage business. This person is responsible for processing paperwork, doing research, fact-checking, and may communicate with various parties to facilitate a real estate transaction. A TC is not a salesperson, does not write contracts, does not show properties, and does not participate in negotiations.
Licensed real estate agents rely on TCs to help run their business. The licensed agent can then do what they do best while offloading some work that does not require a real estate license.
TCs manage the administrative tasks involved in a real estate transaction. Their primary responsibility is to ensure that the entire real estate transaction is as smooth as possible. This includes making sure all necessary paperwork is completed accurately and on time, identifying potential problems, and coordinating with buyers, sellers, and persons handling mortgages, escrow, insurance, and property title.
Because a TC is not necessarily a licensed position, there are fewer legal requirements. Depending on which state you work in, a TC can operate as an employee of a real estate brokerage or as an independent company that contracts with multiple brokerages.
A Transaction Coordinator is an assistant to a licensed real estate agent or brokerage. They may or may not have a real estate license.
A Transaction Coordinator handles administrative tasks involved in a real estate transaction. Usually this includes tasks that do not require a real estate license such as document prep, scheduling, fact-checking, and communication with involved parties.
Usually a TC works for a real estate brokerage as an employee. However it is also possible to work as an independent contract worker with multiple brokerages.
No. However, many brokerages find value in having a TC that is licensed anyway. This avoids the risk of accidentally performing real estate activities without a license. A licensed TC can offer a broader range of services.
The process is the same for any unlicensed employee or contract worker. A TC may be hired, contracted with, or move from another position in the brokerage. Many TCs start work as a licensed agent and shift into a transaction coordination role. No license or degree is required, however the California Association of REALTORS® offers a certification program to assist TCs and brokerages.
Transaction Coordination is a specialty position that allows a person to focus on the administrative aspects of real estate. This allows licensed agents to handle client-facing work while the transaction coordinator handles the rest. Transaction coordinators are not required to be licensed, so this is a creative way to get into the real estate industry without having a license to start with.
TCs can get paid with a salary or by the hour (as an employee), but can also contract the work per transaction.
Between $40,000 and $110,000. Amounts vary by region, pay structure, volume, and experience. Metro areas with higher real estate values typically pay more. Experienced contract workers that handle high volumes also make more. For more information, see Summit Transaction Partners, Glass Door, Jooble, Salary.com.
If you do not already have a license, get educated first. Consider taking the Transaction Coordinator Essentials course from OnlineEd. This course is presented by industry consultant Wendi Molina and reviews everything a TC needs exposure to. For certification in California, you can take the Certified Transaction Coordinator course series offered by the California Association of REALTORS®.