Your First File with a Transaction Coordinator
Handing off your first file feels like a bigger step than it is. You send one email with the contract. Your transaction coordinator takes it from there, and you hear back with the key dates before the day is out.
Table of Contents
▼Here’s what to send, what happens in the first 48 hours, and what you’ll hear from your TC between now and closing.
Before the First File: Set It Up Once
You only do this part one time.
- Sign the service paperwork. It’s short. It covers what we do, what we don’t do, and how we get paid.
- Tell us how your brokerage takes files. Which compliance system or back office you use, and anything your broker requires on every file. We keep it current for you.
- Tell us how you like to hear from us. Email for the record, text for anything urgent.
What to Send on the File
The fully executed contract, with every addendum. Signed and initialed by all parties, with the effective date filled in. If an addendum was signed separately, send that too.
Anything that isn’t in the contract. The documents tell your TC most of what they need. Send the rest:
- The lender’s name and contact, if you have it
- Any side agreements you’ve made about dates, repairs or access
- Who you’ve already talked to at title, if anyone
- Anything unusual about the property or the parties that we should know before we reach out
That’s it. One email. Many agents forward it from their phone on the way back from the signing.
What Happens in the First 48 Hours
The file gets set up. Every party, every date and every deadline goes into our tracking system. The documents go into your brokerage’s back office.
Introductions go out. We email the other agent, the escrow officer and the lender to introduce ourselves and send the executed contract to each of them. You’re copied on all of it.
You get the key dates. Once the introductions are out, you get an email with every deadline on the file: earnest money and option fee delivery, survey, title commitment, financing and the closing date, with weekend and holiday adjustments.
Deliveries get tracked. We track title’s receipt of the contract, and the earnest money and option fee until they’re receipted.
From Then Until Closing
Monday key-dates report. What’s due this week on each of your files.
Thursday status report. Where each file stands and what’s still outstanding.
48-hour reminders. Before every contingency date, so nothing sneaks up on you or the other side.
Weekly updates to the other parties. After the option period, title, the lender and the other agent hear from us every week.
Documents checked as they come in. Signatures, initials, dates and blanks. If something’s missing, we tell you what and where.
Closing week. We schedule closing with title, send the utility and move-out reminders, and help you complete the CDA request. After closing, you get a complete copy of every document on the file.
What Stays with You
A transaction coordinator handles the administrative side of the file. Some things stay with you and your broker:
- Your clients. You’re the one they hear from. We work with you, the other agent, title and the lender.
- The negotiating. Repair amendments, price changes and anything that takes your license.
- The approvals. Your broker reviews and approves the file and signs off on the commission disbursement.
- The money. Earnest money and option fees go from your client to escrow. We track them; we never handle them.
When something needs your call, we tell you what it is, what the deadline is and what we need from you.
Paying for It
Most TCs charge per file. Freedom’s fee is billed to title and paid at closing on the settlement statement, or invoiced to you. You pay only for the side you represent. If the deal doesn’t close, there’s no fee. See what a transaction coordinator costs and our pricing.
Ready to Send Your First File?
Onboarding is same day or next day. Sign a little paperwork, email us your executed contract and addenda, and we’ll get started.
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