Transaction Management Consultants, LLC

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The Real Estate Podcast - Interview with Michelle Spalding: What Realtors Need To Know About Transaction Coordinators

  In the first interview of Season 2 of The Real Estate Revolution Sarah caught up with friend, powerhouse, and overall real estate badass Michelle Spalding.

For more than 25 years Michelle has been working in the real estate industry. First as a paralegal, then an Agent and in 2005, she founded a transaction coordinating company to help agents leverage their time from contract to close. In 2015 she wrote the book The Road from Contract to Close and today in addition to her TC company, she’s a coach, mentor, and trainer to other TC’s in the industry. 

In this episode, Michelle and I dive into hard-hitting topics including:

How to successfully hire a transaction coordinator

The biggest pitfalls in transaction coordination

How to let go of control in order to scale your real estate business

If you are considering scaling your business and making sure that it runs like a well-oiled machine, you can’t afford to miss this episode!

Ready to hire a transaction coordinator? Hire a member of Michelle’s superstar team!

New Post has been published on https://transactionmanagementconsultants.com/why-did-you-choose-to-be-a-realtor/

Why Did You Choose To Be A Realtor?

There are almost as many reasons for people choosing a career in real estate as there are Realtors in the business.

Some are seeking flexibility and freedom with their schedules and see being an independent agent as a means to control their schedule. There are those that love sales and see this as a place to make their mark. While others are passionate about helping buyers and sellers realize their individual homeownership dreams and have answered the call.

And then there are those who simply watched a TV show and thought, “that looks easy, I’ll just show three houses and my client will buy one” and got into the business with no idea what they were in for. Bless their hearts!

Over the years, I’ve had the privilege to chat with thousands of agents and discovered that for most of them, it’s a combination of their love of helping others, strong sales acumen, and flexibility/freedom in their schedule that lure them into this business.

Sometime after being at it for a while, they see that helping others pays off both personally rewarding and financially as well. And soon they are busy with a few more clients at the expense of having less freedom in their schedule often believing this is just how it’s done.  After all many in this business measure success solely in numbers.

They struggle to achieve what they want in their business. Dreaming that one day, in the future, they will have the means to hire a full-time assistant who will give them back some of the much-desired flexibility and freedom they sought when launching into this.

About the point of breaking or burning out, things start to slow down a bit in the business, and they think “okay, I can do this” and they continue at it alone. Soon, it’s heating up, and they just keep pushing through it as now there is no time to hire and train anyone so they must journey on.

Sound familiar? Well, it should, it’s the story of many of the agents I’ve worked with over the years and the thousands I’ve had conversations with. Feeling like the three-legged stool they thought they were on when they started is now just a two-legged, and they are in a constant state of trying to keep it balanced without falling over.

Recently one of our Transaction Coordinators received an email that brought a tear to the eyes of everyone on our team how read it.  The Realtor was thinking his coordinator for the work she did and how it was helping him have more time in his life for things that really mattered to him, like spending more of it with his kids and less of it at the office following up on things, which by the way he agrees wasn’t his strongest skill. The day he sent the email was his son’s 16th birthday, he told his Transaction Coordinator that he knew with all that was going on in his business if he didn’t have her helping him he’d be stuck at the office working late rather than spending time with his son. A son whom he went onto explain was born premature and wasn’t expected to live. Needless to say, birthdays are pretty special in that family.

For this agent, the income was vital as he has a family to provide for; he liked sales as well, but spending time with them was also very important. With the help of a skilled Transaction Coordinator he was finding that he could have all the things he wanted from his business.

So now I ask, what’s your reason for being a Realtor?  Most importantly, are you getting what you wanted when you decided to go down this path? Is there anything you’d like more of that a few more hours in the day or week could bring you?

Maybe it’s time to invest in a full-time assistant, or perhaps it’s time to hire a Transaction Coordinator. Whatever it is you need remember the reason you became a Realtor wasn’t to miss family activities and time with your friends.

The Team at TMC is happy to help from contract to close, feel free to reach out and let’s chat about the goals you have and the obstacles getting in the way of you achieving them.

New Post has been published on https://transactionmanagementconsultants.com/successfully-navigating-the-winding-road-from-contract-to-close/

Successfully Navigating the Winding Road from Contract to Close

  Boy wouldn’t it be nice if selling a home was as easy as they make it out to be on HGTV? Well, we know it isn’t – there is a lot that goes into finding your buyer the right home or your seller the right buyer. And now that you’ve done that, it’s time to make sure that it gets to the closing table as smoothly as possible.

In this webinar Michelle walks you through some tips to help make sure that you’re managing the details, staying in compliance and delivering WOW to your clients so they will remember you when it comes to referrals or repeat business. There is no doubt that it’s a stressful process for the Realtor and buyer/seller – however with a few of the ideas she shares, you’ll find ways to make this easier and better for everyone.

If you’d like more information on finding a Transaction Coordinator to help you with the process from contract to close, please visit www.TransactionManagementConsultants.com

Already have an admin and feel she needs more training or support and you don’t have the time or system in place to do that? Check out the TC Essentials course at https://transactioncoordinatoracademy.com/transaction-coordinator-essentials/

Listen or Download MP3

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Balance, Time Management and Other Fairy Tales

New Post has been published on https://transactionmanagementconsultants.com/in-house-transaction-coordinator-vs-virtual-transaction-coordinator-service/

In-house Transaction Coordinator vs. Virtual Transaction Coordinator Service

Over the years, I’ve had the opportunity to meet with countless Realtors looking to leverage their time while providing nothing but excellent service to their buyers and sellers. Helping Realtors from contract to close is what my team and I enjoy doing.

This is an actual email I received today:

“I would love to talk to you about the Transaction Coordinator services you offer. We have a gal that does it in our office, but our phones are SO busy that it is hard for her to do that and answer all of the calls without things falling through the cracks!”

As of this blog post, I haven’t spoken to the agent who sent this email, but I will soon as we’ve scheduled an appointment, however sadly her situation is not unique. Well-meaning real estate offices often bring in a Transaction Coordinator into the office to help the agents with their productivity and paperwork. In the beginning, everyone is jazzed about it. For just a small fee for each transaction the busy Realtor can have the help of a Transaction Coordinator who has been personally selected, screened and placed in the office by their broker or manager. So far so good, right? Well, maybe…

Generally, one of three scenarios play out:

1.  She’s a rock star, can handle 75 transactions a month and doesn’t mind working 60+ hours a week to do it (at least initially).  She takes calls at nights; works most weekends and you wonder if she ever sleeps. However, as we all know working 60+ hours a week for too long leads to burn out and while she may be doing great for a while, soon this star either fades or implodes.

2.  She receives little to no training on handling the volume of real estate transactions she’s expected to and soon many agents discontinue using her services because they are frustrated that they don’t get the personal attention they thought they would.  Rather than having a weekly meeting, a platform to post updates or even emails they pop by her desk and “hang out” which only distracts her and slows her down. (thus things fall through the crack)

3.  A storm begins to brew; the agents aren’t happy because things are missed or they are expected to do their own work when she’s on vacation or out sick.  She has no leadership to help her methods of coordinating are putting out fires and being reactive, rather than a system to effectively do her work proactively. In addition to handling the transaction coordination she’s also being asked to do other “favors”.  She’s covering for the receptionist who is on vacation, she’s helping on the phones with showing instructions and even creating a few flyers for some agents in a pinch.

Over the last 14 years as the owner of a Virtual Transaction Coordinator service, I’ve seen this happen or heard this from our clients time and time again. In a few cases I’ve been called in and the Transaction Coordinator, who was once in-house, has joined my team and was given training and support which created a better experience for the agents she works for.  In other cases, I’ve done consulting work to help the office create systems and train the Transaction Coordinator to use them. And recent years, I’ve created a course called Transaction Coordinator Essentials which is available at the Transaction Coordinator Academy, to train provide much needed training for this line of work.

A Transaction Coordinator is a person who takes responsibility for managing the deadlines and tasks of a real estate contract to closing. Some of the duties include:

Responsible for processing of all real estate contracts through closing.

Coordinating appointments for inspections, appraisals, and closing.

Communicate with clients, customers, cooperating agents, lenders, title/escrow agents and other service providers throughout the process.

Responsible for proper documentation of the file to comply with brokerage policies.

Assures that all post-closing disbursements, filing, and procedures take place.

Frees the agent client up to focus on business building activities.

In many offices across the country, there are transaction coordinators on staff who are shared among the office.  While this approach seems practical or beneficial on the surface because the coordinator is in house and can be accessed by stopping by her/his desk.  It’s not always the best or most effective approach when explored further. There are many reasons for that, a few are outlined here:

The transaction coordinator is paid by the office and has a job, which is not always exclusively coordinating transactions. Meaning, they could get pulled away from their job to help the other departments such as receptionist, listing coordinating or what have you. This means they aren’t working on your transactions.

Interruptions! The facts are clear, it can take more than 20 minutes to get back on task after an interruption. That said, imagine how inefficient it can be if agents are walking in and out of the transaction coordinators office all day long.

Favoritism of agents within the office. An onsite transaction coordinator may do more for those that are her favorites.

Most offices have no contingency for coverage for sick days, vacations, or when the work load is higher than normal. When the onsite transaction cordinator is out of the office, the agent is expected to handle their own transactions.

Traffic, office politics and everything else that goes with having a JOB!

While no perfect world exists, there are solutions designed to help the agent provide the best service to their buyer/seller from contact to close without many of the most common challenges associated with having an in-house transaction coordinator.

One would be hiring your own transaction coordinator to work exclusively for you. While this may be costly, it would provide you with the ultimate solution to help leverage your time.

Another solution is to contract with a company that provides qualified transaction coordinators to real estate agents on an as needed basis. Allowing you to access a highly skilled transaction coordinator when you need one based on your business volume.

This is one of the most common questions I have when chatting with people about using a Transaction Coordinator to help them from contract to close. And this is from agents who have reached out to my office not from me cold calling or teaching a class somewhere.  Even though they think it’s a good idea to have help, they still are struggling with what someone else will think.

Over the years in many similar discussions, I’ve found that most of them are concerned that their buyer or seller will think less of them for having help. That for some reason they must be it all and do it all, and this is the only way they will be valued.

“Hogwash I say!” Yes, I’ve said that, but then again, I was raised by a Southern mama so there you go.

So, I begin the discussion chatting about how most of us were paid by the hour for most of our lives before we went off on our own to start a business. You, as the owner of a real estate business, me as the owner of a transaction coordinator business, I say and even as business owners, we still find ourselves falling back into an old habit which is to look at what is done and figure out how to justify it in an hourly way.  And sure, if you worked by the hour as a real estate agent, then that would be a good idea, but you don’t so it’s time for a new way of thinking.

Okay some of them say, I see your point but how do I convey this to my clients? After all, it’s ME, they chose to help them with their home purchase or sale.

Ahhh grasshopper, yes, it is, so let’s look at it this way.

Have you ever been to the doctor’s office I ask?

Of course, they all say, with a slightly snarky tone.

Well then, when you arrived where you greeted and checked in by the doctor?  I mean, did he or she ask you about your insurance, take your co-payment and provide you the forms needed?

No, they say. Me either I tell them.

So, using the doctor as an example, when you go there are you going because they have a great nurse you heard about? Are you thinking as you’re seeing the doctor, maybe after this visit I’ll just see the nurse from here on out to save some money? NO, of course, you’re not, because the doctor is the expert and that is precisely who you trust to help you with your medical care. And yes, they have a team to help you through the experience and help provide the best possible service – not detract from it.

Lastly, I ask the agent – if you were to go to the doctor and he was the one who did it all, what would you think?

Shazam, it’s like a light bulb comes on over heir head and they realize – it’s time to start looking at the work they do as a business and themselves as the professional they truly aspire to be.

And having a trusted Transaction Coordinator is the one step they can easily take today to help them create the team they know will provide the best care for their buyers and sellers.

Here’s the deal – as a Transaction Coordinator, I don’t want your client. If I wanted to work with buyers and sellers as an agent, I would, however, what I know I do best is coordinate transactions and help my agents provide excellent service to their clients, while giving them the time they need to continue to grow their business.

New Post has been published on https://transactionmanagementconsultants.com/but-what-will-my-clients-think/

…..but what will my clients think?

This is one of the most common questions I have when chatting with people about using a Transaction Coordinator to help them from contract to close. And this is from agents who have reached out to my office not from me cold calling or teaching a class somewhere.  Even though they think it’s a good idea to have help, they still are struggling with what someone else will think.

Over the years in many similar discussions, I’ve found that most of them are concerned that their buyer or seller will think less of them for having help. That for some reason they must be it all and do it all, and this is the only way they will be valued.

“Hogwash I say!” Yes, I’ve said that, but then again, I was raised by a Southern mama so there you go.

So, I begin the discussion chatting about how most of us were paid by the hour for most of our lives before we went off on our own to start a business. You, as the owner of a real estate business, me as the owner of a transaction coordinator business, I say and even as business owners, we still find ourselves falling back into an old habit which is to look at what is done and figure out how to justify it in an hourly way.  And sure, if you worked by the hour as a real estate agent, then that would be a good idea, but you don’t so it’s time for a new way of thinking.

Okay some of them say, I see your point but how do I convey this to my clients? After all, it’s ME, they chose to help them with their home purchase or sale.

Ahhh grasshopper, yes, it is, so let’s look at it this way.

Have you ever been to the doctor’s office I ask?

Of course, they all say, with a slightly snarky tone.

Well then, when you arrived where you greeted and checked in by the doctor?  I mean, did he or she ask you about your insurance, take your co-payment and provide you the forms needed?

No, they say. Me either I tell them.

So, using the doctor as an example, when you go there are you going because they have a great nurse you heard about? Are you thinking as you’re seeing the doctor, maybe after this visit I’ll just see the nurse from here on out to save some money? NO, of course, you’re not, because the doctor is the expert and that is precisely who you trust to help you with your medical care. And yes, they have a team to help you through the experience and help provide the best possible service – not detract from it.

Lastly, I ask the agent – if you were to go to the doctor and he was the one who did it all, what would you think?

Shazam, it’s like a light bulb comes on over heir head and they realize – it’s time to start looking at the work they do as a business and themselves as the professional they truly aspire to be.

And having a trusted Transaction Coordinator is the one step they can easily take today to help them create the team they know will provide the best care for their buyers and sellers.

Here’s the deal – as a Transaction Coordinator, I don’t want your client. If I wanted to work with buyers and sellers as an agent, I would, however, what I know I do best is coordinate transactions and help my agents provide excellent service to their clients, while giving them the time they need to continue to grow their business.

New Post has been published on https://transactionmanagementconsultants.com/what-is-a-transaction-coordinator/

What is a Transaction Coordinator?

A Transaction Coordinator is a person who takes responsibility for managing the deadlines and tasks of a real estate contract to closing. Some of the duties include:

  Responsible for processing of all real estate contracts through closing.

  Coordinating appointments for inspections, appraisals, and closing.

  Communicate with clients, customers, cooperating agents, lenders, title/escrow agents and other service providers throughout the process.

  Responsible for proper documentation of the file to comply with brokerage policies.

  Assures that all post-closing disbursements, filing, and procedures take place.

  Frees the agent client up to focus on business building activities.

    In many offices across the country, there are transaction coordinators on staff who are shared among the office.  While this approach seems practical or beneficial on the surface because the coordinator is in house and can be accessed by stopping by her/his desk.  It’s not always the best or most effective approach when explored further. There are many reasons for that, a few are outlined here:

  The transaction coordinator is paid by the office and has a job, which is not always exclusively coordinating transactions. Meaning, they could get pulled away from their job to help the other departments such as receptionist, listing coordinating or what have you. This means they aren’t working on your transactions.

  Interruptions! The facts are clear, it can take more than 20 minutes to get back on task after an interruption. That said, imagine how inefficient it can be if agents are walking in and out of the transaction coordinators office all day long.

  Favoritism of agents within the office. An onsite transaction coordinator may do more for those that are her favorites.

  Most offices have no contingency for coverage for sick days, vacations, or when the work load is higher than normal. When the onsite transaction cordinator is out of the office, the agent is expected to handle their own transactions.

  Traffic, office politics and everything else that goes with having a JOB!

  While no perfect world exists, there are solutions designed to help the agent provide the best service to their buyer/seller from contact to close without many of the most common challenges associated with having an in-house transaction coordinator.

  One would be hiring your own transaction coordinator to work exclusively for you. While this may be costly, it would provide you with the ultimate solution to help leverage your time.

  Another solution is to contract with a company that provides qualified transaction coordinators to real estate agents on an as needed basis. Allowing you to access a highly skilled transaction coordinator when you need one based on your business volume.

New Post has been published on https://transactionmanagementconsultants.com/how-about-some-you-time/

How About Some YOU Time?

Yes, our days are busy!  We’ve all got business/career obligations, family time, commuting and such which can leave little time for ourselves.  Feeling tired, worn out or frustrated doesn’t help us achieve the goals and dreams, it only sets us back.  Too often we ignore the signs that we need a break until something comes on us like a cold or flu and then we’re forced to “take it easy” to recuperate. 

  Rather than waiting until you’re forced, why not start now planning it into your schedule.  A few minutes or hours here and there can lead to a much more productive, happy and energetic YOU.  Here are a few ideas you may find helpful:

  Start your day with a good book.  Pick an inspiring book one that will help you get into a positive frame of mind and spend 15-20 minutes in the morning enjoying some quiet YOU time.

Adjust your schedule for traffic patterns.  If you’re leaving your house only to spend time in bumper to bumper traffic, consider adjusting your schedule to a time when there is less traffic on the roads.  If you’re left with no alternative be sure to load up the CD player or smart phone with a podcast of something inspiring or educational to make the trip more pleasant.

Take a bubble bath! This one is my favorite, lock the door, dim the lights and simply soak for as long as you can.  Make the time by ordering pizza for the kids and eating on paper plates.  With a little creativity you can find a way, once a week or so to simply relax and unwind.

Go to the movies.  Kick back, relax and get into the movie for the 2 hours really enjoy it.  Don’t just show up, but totally check out and get into it enjoying each moment of the experience.  No cell phones, no computers, no interruptions.

Ask for help.  As Realtors we’re generally determined to do it all, after all it’s our real estate business and no one can do it as good.  Women are often the last to ask for help.  Start small, pick something you can get assistance with perhaps it’s loading the dishes, washing the car or picking up the dry cleaning.  Maybe it’s hiring a virtual assistant to do research or help you with your marketing. Then maybe a trusted Transaction Coordinator to help you with all of your contracts. You don’t have to do it all, it just has to get done.

  One of the sayings most of us are familiar with “if Mama isn’t happy, no one is” also applies to the guys.  Spread some happiness, joy and do it by making time for YOU.

New Post has been published on https://transactionmanagementconsultants.com/the-opposite-of-good-is/

The Opposite of Good is?

At an event, I attended the speaker asked the audience what the opposite of good is?  As you can imagine many thoughts initially went through my mind, but quite merely she said that the opposite of good is GREAT. 

Wait, what? The opposite of good is great?

Let’s take a more in-depth look:

Do I want good service or great service when I am out spending my money? 

Do I want to have a good year or a great year? 

Do I want good clients or great clients? 

Do I want to feel good or do I want to feel great? 

The answer to all those questions for me and many others is great.  I believe we all want to have a great experience and provide our customers with great service. And as the owner of a company that provides transaction coordinators to busy Realtors, I’m proud to say that we’re dedicated providing great service to our clients and theirs so that the entire closing experience is a great one.  I believe that repeat business and referrals come from delivering great service.  I hope that you have as much business as you want this year and those that follow.  Remember TMC can help you Manage the Details and enable you to serve even more clients.

If you’re to the point in your business where you know you need help to continue to provide GREAT service to your clients from contract to close. And you’re looking to grow your business without compromising your work/life balance, then let’s chat. We’d be delighted to help you deliver the type of great service that will help guarantee smooth transactions and lots of referrals from your happy clients.

Book a no obligation consultation with Beth, our Director of Communications, today.

New Post has been published on https://transactionmanagementconsultants.com/the-new-year-goals-crossroad/

The New Year Goals Crossroad

Each year, for many of us, there is a little ritual we go through to create goals and change something in our lives and/or businesses. Some of the top goals set each year are around health and income. We want a healthier body, which may mean being more active or eating differently. We want to increase our sales which may involve working leads a little harder and recommitting to connecting with our sphere of influence.

And while each of these is exciting, it doesn’t take long for many of us to realize that goals printed on the wall eventually aren’t enough to inspire us. Shear will power isn’t enough either. What we most often need to do, is stop doing something else to make the time required to work on our new goals.

After all, you probably pretty busy last year and didn’t have the time, how is this year going to be different if you don’t give yourself more time in your schedule?

Way back in 2007, a few years into my Transaction Coordinator business, I read the book The Four Hour Work Week by Tim Ferris. It totally transformed the way I looked at my time and that of those around me. It made me take a personal inventory of what I wanted to do in life and the experiences I wanted to have. The work I was best suited for, and the things I should delegate to another who was likely better at it anyway. And while I have yet to mast the 4-hour work week truly, I can say that when I apply Tim’s ideas, I get more done in 4 hours that I used to get done in 40 hours.

That book also helped me have meaningful conversations with Realtors who were struggling with their time and knew they needed to do something to accomplish their personal and professional goals.

Recently I listened to a podcast by Tim Ferris where he interviewed Greg McKeown, author of my next read, Essentialism: The Disciplined Pursuit of Less   I’ve posted a link to it below and highly suggest listening to it.

    https://content.production.cdn.art19.com/episodes/902742a8-53d8-4125-b64d-139595e6bfe3/7972c1d717b93d12f3dc52489ca41e356f62655d6a145e7b55e0ac5f7d329b8c7fd5e83db60cb5d308041ef609d114a7bfde2c70f1873447300f7640588dc838/TheTimFerrissShow_Greg%20McKeown_.mp3

Basically, Greg’s work and teaching are about deciding what is essential in the life we want to live. So, using the goal of increasing income this year, Realtors would likely be working on increasing the number of closings they have. They may also be looking to improve the average sales price of their transactions as well. Given that they felt they were super busy last year, they know that something is going to have to dramatically change this year to up their sales and break into the luxury market. Initially, they may think, well, I’ll just work a little harder, maybe be more focused, disciplined and even quit that Netflix series they’ve been enjoying. And that sometimes works for a little while, but it’s not sustainable. They arrive at a crossroad where they must, push through, change the goal or find an alternative.

I like to think of having a Transaction Coordinator on your team as a smart alternative. While you have more time to focus on the goals you’ve set forth for yourself, your Transaction Coordinator can be busy helping you see to it that the transactions you have under contract make it to the finish with the kind of service that will all but guarantee you referrals.

Without a doubt, the best advice I received when I began my business as a transaction coordinator was to take care of your clients first and they will take care of you. My mentor knew that there was such value in taking care of those who were already there in front of you. She encouraged me to include client gifts and tokens of appreciation into my marketing budget and not just put it all toward attracting new clients.

Smart stuff, right?

She told me that I must deliver rock star service, or as author Ken Blanchard, author of the book Raving Fans, teaches, the kind of service that will make people notice that you care about them and truly value them, not just their business.

Over the years our team of transaction coordinators has done a lot to spread the love to our clients like sending birthday cards, thank you cards, client appreciation gift boxes and of course phone calls. And while that does help let our clients know we care, truly it’s that adage “actions speak louder than words” is really where the rubber meets the road.

All the notes and gifts won’t mean a bit if people don’t realize that we actually care about them. I’m proud of the service my team provides to our clients and know that is what keeps us busy year after year.

Recently I watched an amazing video by my colleague Valeria Garcia on this topic. Her guest in this brief video was a successful agent in Toronto. In the video the agent tells her how they are using social media, acts of kindness and giveaways to stay connected with their past clients. Check out the video for yourself:

https://www.facebook.com/valeriegarcia.ceo/videos/1343068185799476/

New Post has been published on http://transactionmanagementconsultants.com/real_estate/showing-some-client-love/

Showing Some Client LOVE

Without a doubt, the best advice I received when I began my business as a transaction coordinator was to take care of your clients first and they will take care of you. My mentor knew that there was such value in taking care of those who were already there in front of you. She encouraged me to include client gifts and tokens of appreciation into my marketing budget and not just put it all toward attracting new clients.

Smart stuff, right?

She told me that I must deliver rock star service, or as author Ken Blanchard, author of the book Raving Fans, teaches, the kind of service that will make people notice that you care about them and truly value them, not just their business.

Over the years our team of transaction coordinators has done a lot to spread the love to our clients like sending birthday cards, thank you cards, client appreciation gift boxes and of course phone calls. And while that does help let our clients know we care, truly it’s that adage “actions speak louder than words” is really where the rubber meets the road.

All the notes and gifts won’t mean a bit if people don’t realize that we actually care about them. I’m proud of the service my team provides to our clients and know that is what keeps us busy year after year.

Recently I watched an amazing video by my colleague Valeria Garcia on this topic. Her guest in this brief video was a successful agent in Toronto. In the video the agent tells her how they are using social media, acts of kindness and giveaways to stay connected with their past clients. Check out the video for yourself:

New Post has been published on http://transactionmanagementconsultants.com/featured/usually-im-the-transaction-coordinator-but-sometimes-im-the-coach-2/

Usually I’m the Transaction Coordinator but Sometimes I’m the Coach

Recently I had a conversation with a client who we coordinate transactions for, she’d been working hard, and she hadn’t written a contract in almost a month. Needless to say she was frustrated!

She told me she looked around the office saw others were having success, doing the same things she was. Yet she wasn’t getting anyone to sign on the dotted line.

As we chatted I truly felt her frustration, I too feel that sometimes as the owner of a transaction coordinating company, I work, and work, and work yet don’t get the kind of results I’d want or as fast as I’d like either. I passed along the best advice I’d received on this, “keep believing in your dream and know that your attention is best put there rather than on what others are doing”. Whatever activities that lead to contracts I told her, keep doing them. Spend your time and energy there and you will find success.

It wasn’t long before she called, excited to let us know that she had a contract for her transaction coordinator. A few days later she had another, then another and as of this article, she’d written 6 contracts in just a few weeks time.

Wahoooo!!!!! Sounds like she’s on a roll.

Almost 10 years ago just before the real estate market began it’s meltdown I started TMC, it goes without saying that it hasn’t always been easy, yet thankfully in spite of the market I’ve stuck it out, gotten creative and like many entrepreneurs, I didn’t take a paycheck occasionally just to keep the doors open.

Well, just like the client I too have received calls from people who I’ve kept up with via email and newsletters over the years who are back, busier than ever and are sending us transactions right and left to coordinate. It’s been a fun and crazy journey so far, one that I’m glad I’ve stuck with. While I often wondered “WHAT THE HECK AM I DOING”, I now know I was totally living up to the big dream I had when I started which continues to this day. The dream I have to own a business that provides a great transaction coordinating service to wonderful Realtor clients and a fantastic place for talented people to work.

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Lagniappe ~ The Secret Ingredient to Success in Real Estate

One of my favorite words to say is Lagniappe, (pronounced LAN-yap) which means “‘to increase; to add’”. The idea of getting something a little extra when making a purchase makes us all smile. That extra is something that exceeds our expectations, like a baker’s dozen. The little extra things when done well that make others feel good about buying from you. For many like me and my team of Transaction Coordinators, increasing value or adding something extra when clients use my team’s services thrills me even more.

This week I’m in New Orleans, which is where the word is most often heard and I believe it originated from, visiting several real estate offices that asked me to tell them more about our transaction management services and how it would provide some Lagniappe for their clients.

I love visiting New Orleans, it’s one of those places that pulls you in and envelopes you, then pretty soon, you’re on an adventure unlike any place you’ve ever been. There are amazing restaurants, beautiful architecture, interesting people, and parades for so many reasons it’s hard to keep up with them.

As a real estate agent, giving Lagniappe is important in satisfying clients that you’re working with, building future business, and referrals from them as well. We’ve all had the bad restaurant experience and told others, likewise we’ve all had that excellent restaurant experience and told others. Real estate clients are no different, they are excellent sources of referrals, giving them Lagniappe is one way to pave the way for them to keep coming back and bringing others.

At TMC our Transaction Coordinators pride themselves on delivering Lagniappe to each and every person they work with. We know that our business depends on happy satisfied clients and so does yours. As the market continues to improve and your business gets busier, remember we’re always here to help you provide Lagniappe to your clients and to enjoy some yourselves.

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The Mindset of a Successful Realtor

Over the years as a Transaction Coordinator I’ve met a lot of talented and successful Realtors. Some were just starting out and excited about the future, others had been in the business for a while and had a bigger vision for where they wanted to go. As I learned about what their current real estate business looked like and what they wanted it to look what I discovered that what kept them going was their positive mindset.

Our company, Transaction Management Consultants, started in 2005, we all know what happened to the market a few years after that. Yet our business grew, our clients continued to close transactions and help their clients reach their goals of buying or selling a home. Their businesses survived and they were able to continue to do what they enjoyed.

Sure there were many difficult days. Lenders closed in the middle of transactions, people owed more than their homes were worth making sales challenging and things got tough for everyone involved. Yet the transaction coordinators here at TMC continued to tell me how inspired they were by the clients we coordinate for. They were people who kept a positive mindset, knew this was just a phase in the market, and believed as my Mama always said “this too shall pass”.

Ironically enough many of the complainers about the difficult times I’ve met over the years are no longer in the industry. Coincidence? I think not!

“Cultivate an optimistic mind, use your imagination, always consider alternatives, and dare to believe that you can make possible what others think is impossible.” ― Rodolfo Costa, Advice My Parents Gave Me: and Other Lessons I Learned from My Mistakes

I don’t believe the most successful Realtor is the one with the most amount of transactions closed or the highest sales volume. It’s the one that is doing what they enjoy, making a good living and helping others. Their success also comes from having time for work and play. They don’t want to do it all and know the importance of leveraging their time with the help of assistants, transaction coordinators and others to help them live rounded lives.

When these successful Realtors get started with their day and reflect on their goals and dreams, they don’t focus on how far they have to go, or what the marketplace is throwing them, they focus on where they want to go and how far they’ve come. They believe that their dreams will come true, they live as if it’s already happening. When things get tough they don’t quit, they get support from a mentor, coach, or trusted friend.