5 Tools You Need to Efficiently Manage Your Transaction Coordinator Business

As a Transaction Coordinator, there are several tools that can help you streamline your workflow, improve communication with clients and agents, and manage multiple tasks and documents. There are paid tools and there are free tools as well. Let's walk through both! Here are some of the best tools for Transaction Coordinators:

Transaction Management 

Transaction Management Software: Transaction management software can help you keep track of all the tasks, documents, and deadlines involved in a real estate transaction. Some popular transaction management software options include TC Docs, Open to Close, Airtable, Trello and Paperless Pipeline. These software products can range in price from $59 - $99+/mo. 

1. TC Docs: TC Docs offers a range of pricing plans starting at $59 per month for unlimited transactions, with additional plans available for higher transaction volumes.

2. Paperless Pipeline: Paperless Pipeline offers a range of pricing plans starting at $60 per month for up to two users, with additional plans available for higher user counts and transaction volumes.

3. Open to Close: Open to Close offers a range of pricing plans starting at $99 per month for up to 20 transactions, with additional plans available for higher transaction volumes.

4. Airtable: Airtable offers a free plan, as well as a range of paid plans starting at $10 per user per month when billed annually. Air Table is not geared exclusively towards Transaction Coordination. It is more of a project management software in which you can customize to your needs. If you are technical, this could be a cost-efficient option for you. There are many videos in Youtube of how to set this up for TC's. 
5. Google Sheets: Google Sheets is a part of Google Workspace, which is Google's Business/Productivity offering for business owners. Google Sheets works pretty much like Excel. When I first started my TC Business in 2016 (even before I had my business officially structured, i used Excel to create a paper checklist. This is how I managed all of my transactions (between 6-13/mo) for 2 years! I would recommend trying a more streamlined/paid software once you are consistently closing at least 5/month. 

Deadline Management 

Online Calendars: Online calendars like Google Calendar or Outlook can help you keep track of important dates and deadlines, schedule appointments, and set reminders. Many of the TC softwares have integrations with Google Calendars to assist in semi-automating this function. When I started out, I did pay for this function. I would manually create a calendar invite in Outlook for each contract deadline and invite the agent client so it would also send them reminders. Now, it is included as a feature of my Transaction Management Software so it saves a step. 

Esignature Solutions

An eSignature solution can allow you to quickly and easily send, receive, and sign documents electronically. Some popular eSignature solutions include DocuSign, Adobe Sign, and HelloSign. For many TC's, this is not a required investment as you will likely just use your agent client's signing software to send their docs for signature.  

Communication Tools

Communication is key in real estate transactions. About 90% of communication is done via email which allows you to communicate quickly and efficiently with clients, agents, lenders and Title. 

Cloud Storage

Cloud storage services like Google Drive, Dropbox, and OneDrive can help you store and share important documents securely with others involved in the transaction. I use Google Drive for this. Also, for a little "razzle dazzle", I use a software called Folio, which is a Google product. It automatically creates a smart folder for each of my transactions which stores every document created for that transaction. Once a transaction has closed, I am able to share the folder link to my agent as well as their client so that they have a copy of all the documents from their transaction. 

These tools can help you manage your workload more efficiently and effectively, and ultimately provide better service to your clients and agents.