Quote from @Russell Brazil:
Quote from @Jay Hinrichs:
Quote from @Russell Brazil:
Quote from @Timothy Michael Mick:
Are there non-disclosure laws that prevent transaction coordinators from sharing information with other people?
Depends on the state, and depends on your relation to the TC. In say Oklahoma, Texas and North Carolina real estate licensees (and by extension their employees) owe confidentiality to all parties. In most states confidentiality is only owed to the client of the licensee, and not to the people on the opposite side of the transaction.
Russ, do you use an TC transaction cordinator is that a common practice in your market with top producers like it is out west.. Every top producing agent has a TC in our market here and the Brokerages offer them as an add on for a fee as well. I think as much as anything the TC will make sure your paper work is 100% complete Brokerages out here will withhold your commish check if your files is not 100% complete with all required disclosures etc.
I have a TC/admin assistant. The only thing she doesn't do is write offers. Other than that...she handles everything on list or buy side.
As I think of it, I do remeber a high volume real estate office that had TCs, I think they called them admin assitant's in that shop but what the hay, they got things done.
The way I've seen TC's being heavily promoted in Mr. Pace's group, is that if the investor find's the deal, the TC will write up the deal "so that it's done correctly", send it by Docusign for signature and then walk it through escrow to closing. From what I am seeing from some of the comments here, that's probably not legal everywhere.
Seems to me that's acting as a real estate agent. But, I am not an agent, so I don't know what the rules are.
I do know from the Arizona Bar conversation, when I called them, it's illegal in Arizona to fill out legal forms for a fee, in Arizona, unless you are an attorney, real estate agent or other appropriately licensed individual.
