Most coordinators charge $350-$500 per transaction and upwards of $800 if they serve in a dual agency capacity. $400 per file is a fairly consistent benchmark for real estate agents using a transaction coordinator. This fee may not sound like a lot, but can climb very quickly as you start to complete more transactions.
How much should you pay a transaction coordinator?
Transaction coordinators who work virtually charge by the transaction. Most will charge roughly $350 to $500 per transaction. Depending on experience and geographic location, many transaction coordinators even charge $800 for a dual agent transaction.
Do transaction coordinators make good money?
Salary Ranges for Transaction Coordinators
The salaries of Transaction Coordinators in the US range from $45,320 to $129,700 , with a median salary of $85,240 . The middle 60% of Transaction Coordinators makes $85,240, with the top 80% making $129,700.
Is a transaction coordinator worth it?
While not every real estate agent needs a transaction coordinator, a good TC can make your real estate agent’s life a lot easier. A good TC will significantly reduce your workload, manage difficult processes, and handle complex paperwork.
How much does a transaction coordinator make at Redfin?
Average Redfin Transaction Coordinator yearly pay in the United States is approximately $45,129, which is 7% above the national average.
What is a coordination fee?
Financing Coordination Fee means a fee paid in connection with the financing of an Asset, assumption of any loan in connection with the acquisition of an Asset or refinancing of any loan on an Asset.
What is TC in real estate?
The transaction coordinator often handles the administrative work of the real estate transaction. This can include preparing and submitting purchase documentation, gathering information or documentation from you (the buyer or seller), communicating with other real estate agents, and more.
How much do transaction coordinators make in Los Angeles?
The average salary for a transaction coordinator is $44,184 per year in Los Angeles, CA.
How much do transaction coordinators make in California?
Most common benefits. The average salary for a transaction coordinator is $53,764 per year in California.
How much do transaction coordinators make in Florida?
The average salary for a transaction coordinator is $42,753 per year in Florida.
Should you hire a transaction coordinator?
A good transaction coordinator can streamline your office and keep every little detail in check so nothing falls through the cracks. In addition, they can be more responsive to clients, giving them a better understanding of what to expect and ultimately, a better impression of your business.
How do you become a transaction coordinator?
How to Start a Real Estate Transaction Coordinator Business
- Choose a Business Name. …
- Set Up Your Legal Business Entity. …
- Acquire the Right License. …
- Learn the Basics of Real Estate Transaction Coordination. …
- Choose the Right Transaction Coordinator Software. …
- Set Your Rates. …
- Start Marketing Your New Company.
How much do associate agents make at Redfin?
Average Redfin Associate Agent yearly pay in the United States is approximately $37,296, which is 7% below the national average.
What does a Redfin transaction coordinator do?
At Redfin, transaction coordinators handle all the details once your offer on a home is accepted. They coordinate property access for inspectors, appraisers, and insurers; work with escrow; and help ensure an on-time closing.