What is the role of a transaction coordinator?

The role of a transaction coordinator is to facilitate a transaction without having an agency relationship with either party involved in the real estate deal. This role is crucial in coordinating the various details and processes that ensure a smooth transaction from start to finish. The transaction coordinator typically handles tasks such as scheduling inspections, managing paperwork, and communicating between the buyers, sellers, and other parties, such as lenders or title companies.

By not having an agency relationship, the transaction coordinator does not represent either the buyer or the seller. This impartiality allows them to focus on the administrative and logistical aspects of the transaction, helping it proceed efficiently without the potential conflicts of interest that can arise when a person is acting in a fiduciary capacity. This role is particularly valuable in ensuring that all the necessary steps and deadlines are met, thus facilitating a successful closing.

Understanding this role is important for aspiring real estate professionals, as it highlights the distinction between administrative support and the fiduciary responsibilities that come with agency relationships.