What does a transaction coordinator do?
A transaction coordinator is responsible for performing administrative and clerical duties for the clients regarding their real estate contracts and transactions. Transaction coordinators sometimes do fieldwork to inspect the property area, write findings reports, perform cost and expenses analysis, and inform the clients of required documentation. They also identify resources and other alternatives that would most likely fit the client's budget limitations and interests. A transaction coordinator must have excellent organizational and communication skills, especially in coordinating with other organizations to process the client's requirements for property acquisition.
Transaction coordinator responsibilities
Here are examples of responsibilities from real transaction coordinator resumes:
- Manage scheduling loans for closing, handle insurance review, verify wire transfer, register and transfer loans with MERS.
- Manage and coordinate the workload of the release team members and are responsible for organizing and hosting all production release windows.
- Ensure all documents are completed and in accordance with DRE standards.
- Review and explain HUD with borrowers and loan officers prior to closing.
- Verify that DRE disclosures requirements on all documents have been send on time.
- Coordinate closing - arrange closing date/time, order escrow check if need, review HUD.
- Represent seller's interests in every step of the selling process for REO listing broker.
- Upload documents into docusign to have clients/all parties sign documents involve in selling or purchasing a property.
- Review UCC and lien searches, log estoppel, SNDA, formationdocuments and certificates of good standing.
- Order HOA doc's if applicable, assist with scheduling appraisals, termite, and home inspection.
- Used DocuSign for electronic signatures, zip forms to print disclosures and used egnyte to save transaction files.
- Work with UCC secure, title collateral, commercial real estate, construction, and public sector programs.
- Collect payoffs and all costs necessary to prepare a RESPA disclosure with bottom lines for buyer and seller.
- Certify in CPR, a, and administration of oxygen, lifeguard, and application of first aid.
- Gather Intel directly from the customer and/or the Realtor in order to provide the information for the MLS listings.
Transaction coordinator skills and personality traits
We calculated that 23% of Transaction Coordinators are proficient in Customer Service, MLS, and Escrow Companies. They’re also known for soft skills such as Math skills, Communication skills, and Organizational skills.
We break down the percentage of Transaction Coordinators that have these skills listed on their resume here:
- Customer Service, 23%
Prepared comparative market analysis reports evaluating home prices, and prepared expert advice in negotiations while maintaining outstanding customer service.
- MLS, 14%
Maintained office inventory in MLS and processed listing/selling agent closings.
- Escrow Companies, 7%
Notarized closing documents for escrow companies.
- PowerPoint, 6%
Created/updated new office forms/templates using Word, Publisher and/or PowerPoint.
- Real Estate Transactions, 6%
Supervised various commercial real estate transactions including commercial plazas, automobile dealerships, and retail buildings.
- Data Entry, 5%
Performed data entry for credit approval and ensured that application quality and minimum information was sufficient.
Most transaction coordinators use their skills in "customer service," "mls," and "escrow companies" to do their jobs. You can find more detail on essential transaction coordinator responsibilities here:
Math skills. One of the key soft skills for a transaction coordinator to have is math skills. You can see how this relates to what transaction coordinators do because "the job duties of financial clerks includes calculating charges and updating financial records." Additionally, a transaction coordinator resume shows how transaction coordinators use math skills: "run excel reports to assist management with daily statistics maintain attendance logs contact notaries and verify status of loan closings"
Communication skills. Another essential skill to perform transaction coordinator duties is communication skills. Transaction coordinators responsibilities require that "financial clerks should be able to explain policies and procedures to colleagues and customers." Transaction coordinators also use communication skills in their role according to a real resume snippet: "tracked escrow process, managed communication and outflow of information between buyer's agent and seller's agent. "
Organizational skills. This is an important skill for transaction coordinators to perform their duties. For an example of how transaction coordinator responsibilities depend on this skill, consider that "financial clerks must be able to arrange files so they can find them quickly and efficiently." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of a transaction coordinator: "utilized superior customer service and organizational skills in a fast-paced environment to successfully coordinate on-schedule loan closings. ".
The three companies that hire the most transaction coordinators are:
- CBRE Group25 transaction coordinators jobs
- The PNC Financial Services Group21 transaction coordinators jobs
- Redfin8 transaction coordinators jobs
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Compare different transaction coordinators
Transaction coordinator vs. Mortgage assistant
A mortgage assistant, sometimes referred to as a loan officer assistant, works directly with clients and members of the office to meet set organization goals. Their key responsibilities include reviewing loan applications, preparing letters for credit for clients, offering administrative support to supervising loan officers, and providing customer service to clients. They are also required to use computer programs to track loan processing and billing. This role requires customer service experience and knowledge of relevant computer software.
These skill sets are where the common ground ends though. The responsibilities of a transaction coordinator are more likely to require skills like "mls," "escrow companies," "powerpoint," and "real estate transactions." On the other hand, a job as a mortgage assistant requires skills like "origination," "excellent organizational," "originator," and "outbound calls." As you can see, what employees do in each career varies considerably.
Mortgage assistants really shine in the professional industry with an average salary of $39,627. Comparatively, transaction coordinators tend to make the most money in the finance industry with an average salary of $64,010.The education levels that mortgage assistants earn slightly differ from transaction coordinators. In particular, mortgage assistants are 1.0% less likely to graduate with a Master's Degree than a transaction coordinator. Additionally, they're 0.5% less likely to earn a Doctoral Degree.Transaction coordinator vs. Mortgage service specialist
A Mortgage Service Specialist is an expert in mortgage administrative aspects. They review and verify loan application information, file borrower information, and process paperwork with the lending bank. They also authorize and recommend personal and commercial loans for approval. Math skills are necessary for this job for accuracy in calculating both the principal and interest amounts. They should also develop skills in handling transactions, foreclosing loans, communication, attention to detail, and customer service.
While some skills are similar in these professions, other skills aren't so similar. For example, resumes show us that transaction coordinator responsibilities requires skills like "mls," "escrow companies," "real estate transactions," and "data entry." But a mortgage service specialist might use other skills in their typical duties, such as, "escrow analysis," "inbound calls," "foreclosure process," and "real estate."
On average, mortgage service specialists earn a lower salary than transaction coordinators. Some industries support higher salaries in each profession. Interestingly enough, mortgage service specialists earn the most pay in the finance industry with an average salary of $37,778. Whereas transaction coordinators have higher pay in the finance industry, with an average salary of $64,010.Average education levels between the two professions vary. Mortgage service specialists tend to reach similar levels of education than transaction coordinators. In fact, they're 0.6% less likely to graduate with a Master's Degree and 0.5% less likely to earn a Doctoral Degree.Transaction coordinator vs. Loan specialist
A loan specialist is in charge of processing loans to make transactions easier for the clients. They usually work in banks, lending firms, and other financial institutions. One of their primary responsibilities is to guide clients to understand what program works best for them, assist in filling out forms, gathering requirements, and verifying authenticity. There are also instances where a loan specialist must discern whether a client can uphold financial obligations using the information collected. Furthermore, it is also their responsibility to produce and submit reports to creditors or lenders.
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from transaction coordinator resumes include skills like "mls," "escrow companies," "powerpoint," and "real estate transactions," whereas a loan specialist is more likely to list skills in "financial statements," "outbound calls," "escrow," and "loan payments. "
Loan specialists earn the best pay in the finance industry, where they command an average salary of $48,154. Transaction coordinators earn the highest pay from the finance industry, with an average salary of $64,010.Most loan specialists achieve a similar degree level compared to transaction coordinators. For example, they're 0.3% more likely to graduate with a Master's Degree, and 0.5% more likely to earn a Doctoral Degree.Transaction coordinator vs. Mortgage loan specialist
Also called a loan officer, a mortgage loan specialist assists clients in finding the appropriate financial aid for homes and other properties. Mortgage loan specialists look for new applicants, secure the right loans, assist with the documentation, and supervise the financing process. They collect and review the financial information of their clients for loan grant eligibility. It is important that they develop skills in financial processes, customer service, time management, and communication.
Types of transaction coordinator
Updated January 8, 2025
