Transaction Coordinator - License or nah?
In my opinion, your Transaction Coordinator should not have an active real estate license. Now, that is a generality, of course. If your Transaction Coordinator is dedicated on your team and needs to handle negotiations, etc, then yes they should be licensed. But, if you are using a professional TC company, it is a red flag to me when the Transaction Coordinators are licensed. Why do they want a license? You are handling all the negotiations and should be the one explaining contract terms. It is your deal, under your E&O, with your reputation on the line. If someone ever brought a lawsuit, you would be the one the hot seat. Your Transaction Coordinator should only be performing unlicensed assistant tasks, which by definition do NOT require a license. My first question when I hear a Transaction Coordinator say they have an active license is “why?” Are they trying to get back into production? They certainly are able to build a massive database during their time as a Transaction Coordinator. Avoid that particular conflict of interest and just hire an unlicensed Transaction Coordinator.