Starting a Transaction Coordination (TC) business can seem appealing, but many find the role challenging and unsustainable over time. Here’s what makes it difficult and how to prepare for long-term success.
1. Why do some TCs burn out?
Karla Becker Haremza, a veteran TC comments: Many people think TC work is “easy,” but it comes with no benefits, no paid vacations, and unpredictable income. You’re responsible for your own taxes and business expenses. If an agent disappears or a deal falls through, you may not get paid. Some people struggle with the lack of stability.
2. What makes being a TC hard?
- Inconsistent Income: Deals may cancel, and agents may stop sending work unexpectedly.
- High Pressure: Depending on your services, you may be responsible for ensuring compliance, meeting deadlines, and coordinating multiple parties.
- No Traditional Job Perks: Unlike salaried positions, TCs don’t receive employer-provided health benefits, retirement plans, or paid time off.
- Emotional Toll: Handling problem files, negotiating last-minute changes, and managing multiple personalities can be exhausting.
3. How can I avoid burnout as a TC?
- Have a Financial Cushion: Since income is not always steady, having savings can help manage slower months.
- Set Boundaries: Create clear work hours and take time off when needed to prevent exhaustion.
- Choose the Right Clients: Work with agents who respect your time and keep you in the loop.
- Use Systems & Checklists: Automate processes where possible to reduce stress and stay organized.
4. Does a TC need a real estate license?
Karla Becker Haremza: Most states do not require TCs to hold a real estate license. However, some brokers prefer or require it. California offers a TC certification, but it’s geared toward their state’s regulations.
5. Can a TC also be an agent?
Some agents hesitate to hire TCs who are also active realtors because they may see them as competition. If you hold a license, consider whether this could be a factor in your market.
Final Thoughts
Being a successful TC requires financial planning, resilience, and strong organizational skills. If you’re starting out, understand the challenges and take steps to avoid burnout. With the right approach, TC work can be a rewarding and profitable career.