Agents who use transaction coordinators save 8+ hours a transaction! Get Started Now!
Frequently Asked Questions
1. What is a Transaction Coordinator
A Transaction Coordinator is a highly specialized real estate professional responsible for managing and streamlining the paperwork and deadlines involved in a real estate transaction. Their expertise ensures a smooth journey from offer acceptance to the closing table, allowing agents to focus more on client service.
2. Why do I need a TC?
A TC can save you time and mitigate risks by ensuring all contractual milestones are met, allowing you to concentrate on client relationships and business growth.
3. How is payment handled for your services?
We invoice you through escrow if possible or after the close of escrow if your broker has limitations. Allowing both option helps make the payment process smooth and convenient for you. For this convenience there is a 1% service fee.
4. Why do I need to sign a contract with AIDE?
Our contract outlines the scope of our services, ensuring clear communication and expectations. It helps protect both parties involved.
5. Who will be my Transaction Coordinator (TC), and will it be the same TC for each transaction?
Your dedicated TC will be assigned to you or you have the option to review the profiles and choose, for consistent support and personalized service throughout your transactions.
6. What is the timeline for TC services?
We strive to provide timely and efficient service to all of our clients. For existing clients, our turnaround time for transaction coordination services is typically within 4-24 hours of receiving all requested information. For new clients, our turnaround time is typically within 12-36 hours after all transaction-specific and broker requirement information has been sent to us. We understand the importance of timely and accurate transaction coordination and are committed to meeting the needs of our clients.
7. What type of properties do you specialize in?
We handle a wide range of properties, including residential, commercial, and industrial real estate. Specifically, we have expertise in handling residential properties with 1 to 4 units. Our experienced team has the knowledge to handle transactions of all types and sizes, and we are committed to providing high-quality service to our clients regardless of the property type.
8. What information do I need to provide to use your transaction coordinator service?
To use our transaction coordination services, we will need you to provide us with the following information:
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Your email address
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Your brokerage and/or team name
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Your brokerage's filing requirements
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Transaction parties contact information
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A copy of the Residential Purchase Agreement (RPA) or RLA
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Access to brokerage systems, possibly MLS listing information
To collect all this information efficiently we've created a submission page for you.
Visit www.aide-re.com/newescrow
9. Do you have references for vendors companies?
Yes, we have great relationships with many vendors and can provide recommendations based on our experience working with them. Our team has extensive knowledge of the industry and can help you identify which companies and escrow officers provide the best service for your specific needs. We are committed to providing our clients with the highest-quality service and resources to ensure a smooth and efficient transaction process.
Vendor Guide Coming Soon...
10. What is double-end pricing, and how does it work?
Double-end pricing means a fee of $700 (Full Service) for a transaction where you represent both the buyer and the seller. We save a little time on these files and pass that savings on to you.
11. Are there any discounts available?
Yes, we offer high volume, loyalty, and referral discounts.
Our Promises (FAQs)
Perfect or It's Free Guarantee
1. What does the 'Perfect or It's Free' guarantee entail?
Our guarantee promises that your transaction file will have all required documents for your broker file, including communications for multiple requests for files. If we miss something or cause a delay in your payment, we'll waive the transaction fee.
2. What are the exclusions to this guarantee?
The guarantee does not apply if the delay is the fault of the agent, such as not completing the AVID in time, or if the cooperating agent provides documents too late based on our timeline commitments.
3. How can I ensure I qualify for this guarantee?
Agents must fulfill their responsibilities as outlined in our Agent Responsibilities section, including providing required documents at the start of escrow and responding timely to all communications.
No Close, No Charge Policy
4. What does 'No Close, No Charge' mean?
If your transaction falls out of escrow, meaning the buyer backs out and the transaction doesn't close, we will not charge any cancellation fees for our Full Service and File Review service options. Extended Service and MLS Management have a $100 cancellation fee.
5. Are there any upfront fees for your services?
The only upfront fee is for the MLS Management Add-on, which is $150. This fee is due at the time of entering the listing and covers the entire escrow period until close.
Premium Service TC Duties
6. What additional duties are included in the Premium option?
The Premium Service includes comprehensive tasks such as sending preliminary disclosure packets, scheduling pre-inspections, managing document signings, MLS and more. A detailed list of these duties can be found here.
7. Is there a cancellation fee for the Premium Service option?
Yes, there is a $100 cancellation fee for the Premium Service option due to the extensive work involved by the TC.