Online Transaction Coordinator

Online Transaction Coordinator (TC) services are a huge and growing segment of the real estate industry. They operate as specialized third-party companies that agents and brokers hire to manage their transactions remotely.

This model has become incredibly popular because it offers flexibility and scalability without the agent needing to hire a full-time, in-house employee.

How Online TC Services Work

The entire process is managed virtually, using a combination of specialized software, email, phone, and video calls.

  1. Onboarding: Once an agent’s offer is accepted, they “assign” the transaction to the online TC service. The agent provides all the contract details and relevant documents.

  2. Platform Access: The TC service uses a dedicated transaction management platform (like Skyslope, Dotloop, Wise Agent, or their own proprietary software). The agent, TC, and sometimes other parties (like the broker) have access to this secure portal to view the transaction’s status.

  3. Management: The online TC takes over from there, managing all deadlines, paperwork, and communication with the title company, lender, and other agents, just as an in-person TC would.

  4. Communication: Updates are provided through the platform, email, and scheduled calls. The agent remains the primary point of contact for the client; the TC works behind the scenes.

Prominent Examples of Online TC Services

There are both large, national companies and smaller, specialized firms. Some well-known names include:

  • Transactly: A large, nationwide service known for its flat-fee pricing.

  • Zurple Transaction Management: Often integrated with lead generation services.

  • BoldLeads (now part of Real Geeks): Offers transaction management as part of its marketing suite.

  • My TC Hub: A popular choice for individual agents and teams.

  • Easy Transaction: Another major player with a focus on streamlining the process.

Many smaller, independent TCs also run successful online businesses, often specializing in a specific state or region to maintain expertise in local contracts and regulations.

Pros and Cons of Using an Online TC Service

Pros (for the Real Estate Agent)

  • Cost-Effective: You only pay for what you use (per transaction). There are no employee benefits, payroll taxes, or overhead costs for office space.

  • Scalability: It’s perfect for agents with fluctuating sales volume. You can use the service for one transaction or twenty without changing your staffing.

  • Expertise: These services are specialists in transaction management. They are often up-to-date on the latest software, compliance issues, and best practices.

  • Flexibility: They are available beyond traditional 9-5 hours, which is crucial in real estate.

  • No Training Required: The service provides a trained, ready-to-go professional.

Cons (for the Real Estate Agent)

  • Less Personal Connection: The TC isn’t in your office, which can sometimes lead to communication gaps if not managed well.

  • Variable Quality: The quality and responsiveness can vary between different TCs, even within the same company. You might not get the same person every time.

  • Less Familiarity with Your “Way”: An in-house TC learns your specific preferences and systems. An online service may take a transaction or two to get fully aligned with your process.

  • Dependence on Technology: If the platform has an issue or the TC has internet problems, it can cause minor delays.

What to Look For in an Online TC Service

If you’re an agent considering one, ask these questions:

  • Pricing Structure: Is it a true flat fee per transaction? Are there any hidden setup or monthly fees?

  • Software & Platform: What transaction management platform do they use? Is it one you’re already familiar with?

  • Availability & Communication: What are their business hours? How quickly do they guarantee a response? What is their primary method of communication (email, phone, platform alerts)?

  • Scope of Service: Get a detailed list of exactly what they do and do not handle. Does it include preparing commission invoices, tracking earnest money, and coordinating with the mortgage broker?

  • Experience in Your State/Market: Real estate laws are state-specific. Ensure they have proven experience and expertise in your area.

  • References & Reviews: Can they provide testimonials from other agents in your market?

Conclusion

Online Transaction Coordinator services are a legitimate, powerful tool for modern real estate agents. They free up the agent to focus on sales and client relationships by outsourcing the complex administrative work to a dedicated specialist. For many agents, the benefits of cost, scalability, and expertise far outweigh the potential downsides