6 Common Mistakes Real Estate Agents Make (And how hiring a transaction coordinator can help make them go away)
I'll be honest with you: this list didn't come from research. It came from making mistakes, being deep in it, learning by doing. Anyone who knows me knows I am naturally very ‘DIY.’ Polished isn’t in my repertoire. But, after we hit our 3,000th closing - something amazing happened. I realized our checklists, our communication, how we look on the outside…really is polished. Our checklist, our step by steps are thorough.
As a transaction coordinator who has worked with agents across Michigan, I've seen what happens when the transaction side gets managed on top of everything else an agent is already juggling. And the same mistakes show up, over and over. And don’t get me wrong, this isn't a judgment. Most of these mistakes happen because agents are genuinely trying to do too much. But knowing what to watch for is the first step to stopping it.
Here’s mistakes we have seen agents make and can help you avoid:
1. “Your inspection contingency date is expired, we aren’t negotiating any repairs.”
Missing contingency deadline dates — even by one day can cost a deal. We make sure these dates don’t get forgotten.
2. Slow response times to lenders and title companies
Is it important to you to look professional to the partners you work with? Taking days to respond - or not responding at all - doesn’t look great to these partners. Sometimes just having someone in your corner whose job it is to respond quickly is all it takes.
3. Forgetting to collect an EMD.
You said you’d collect it at inspection, but the buyer’s dad was there and it didn’t come up. Now, here we are a week before closing and you rushed to send the deposit link to the buyers, but bad news - their bank takes a week to confirm the transfer. So now closing is being delayed because of something that should have been taken care of on day one.
4. Losing track of addendums and missing signatures
The worst is when we have a smooth beginning to end, closing is scheduled, and all of a sudden the lender and title company come in and say “hey, we need this wording changed on this addendum.” “Hey, this addendum isn’t signed.” And you have to scramble to get things cleaned up in front of your clients for signatures on documents we haven’t talked about in two weeks. Looks messy, doesn’t it?
5. Inconsistent communication
Ever work with an agent that just pops in and says “Hey, where are we at with appraisal?” But its a cash deal. And you are planning on closing in four days. Inconsistent and random communication can make you look silly to your clients and the other professionals you work with. You don’t have to even think about things like that when you have a TC.
6. Not sending review requests
Your relationship doesn’t end at the table!! Find a way to capitalize on all the hard work you put in. Without thinking. Because we handle it for you!
Any of these look familiar? It's not a character flaw…it's a capacity problem. And that's exactly what hiring a transaction coordinator fixes.
If you're ready to stop managing your own transactions, let's talk.