Real estate basicsWhat is a transaction coordinator in real estate?
A transaction coordinator (TC) manages the paperwork and the deadlines of a real estate deal from the accepted offer to closing. The TC opens the file with title or escrow, tracks every contract date, collects signatures and documents, follows up with the lender, inspector and title company, and keeps the agent and the clients updated – so the agent can focus on clients and negotiations.
What a transaction coordinator does, step by step
1. Contract accepted
Sends the executed contract to everyone, opens escrow with the title company, sends the introduction email and the earnest money instructions.
2. Deadlines
Builds the timeline from the contract – earnest money, inspection or option period, appraisal, financing, title, closing – and reminds everyone before each date.
3. Documents
Collects signatures, disclosures, addenda and amendments, and keeps the file complete for the broker's compliance review.
4. Lender and title
Follows up on the appraisal, the loan approval, the title commitment and HOA documents; requests the clear to close.
5. Closing
Schedules the closing, confirms who signs, reviews the closing disclosure or settlement statement, sends the wire-fraud warning and confirms the final walkthrough.
6. After closing
Sends the closed file to compliance and the thank-you and review request.
What a transaction coordinator usually does not do
- Negotiate price or terms, or advise clients on what to sign – that is the agent's job (and often requires a license).
- Give legal or tax advice.
- Hold the clients' money – earnest money and closing funds go to the title or escrow company.
- Rules differ by state: some tasks require a real estate license in some states. Check with your state's real estate commission and your broker.
How a transaction coordinator is paid
Independent TCs usually charge a flat fee per file, often a little different for the buyer and the listing side, plus a smaller fee when a deal is cancelled. The fee is commonly paid at closing through the title or escrow company (it appears on the settlement statement), or directly by the agent. Some TCs work on a monthly retainer for an agent or a team; in-house TCs are employees of a brokerage.
Transaction coordinator job description
- Open and manage files from accepted offer to closing (and listings before an offer, if the agent wants).
- Create and track the contract timeline; send reminders before every deadline.
- Request, collect and review documents and signatures; keep the file compliant.
- Coordinate with the lender, title or escrow, inspectors, appraisers, HOA and the other side's agent or TC.
- Send clear updates to buyers and sellers – in their language.
- Prepare closing: schedule, signers, settlement statement review, wire-fraud warning, walkthrough, keys.
- Invoice the TC fee and keep records of every file.
Transaction coordinator vs. other roles
- Real estate agent
- Represents the buyer or seller, negotiates and advises. The TC supports the agent on the process and the paperwork.
- Escrow or title officer
- A neutral party: holds the money, clears the title and runs the closing. The TC works for the agent or brokerage and keeps the file moving toward that closing.
- Real estate assistant
- Often helps with marketing, listings and scheduling; a TC focuses on the contract-to-close file.
Questions about transaction coordinators
Do you need a license to be a transaction coordinator?
It depends on the state and on the tasks. Many TCs work without a license on paperwork and scheduling, while tasks such as negotiating require a license. Check your state's real estate commission and your broker's policy.
Who hires a transaction coordinator?
Usually the agent or the brokerage – independent TCs work for several agents; larger teams and brokerages hire in-house TCs.
How much does a transaction coordinator cost?
Most independent TCs charge a flat fee per file, paid at closing or by the agent, with a smaller fee for cancelled deals. Fees vary by market and by what is included.
Does a transaction coordinator talk to the clients?
Yes – TCs send updates and request documents, but questions about terms, price or advice go to the agent.
When does a transaction coordinator start?
Usually when the offer is accepted; many also help with listings before an offer.
Free tools for transaction coordinators
General information, not legal advice. ClosingCode is software; it is not a law firm or brokerage.