Realtor® Legal Tip – Transaction coordinators – what they can and can’t do.
August 15, 2019
Author: Curtis Bullock
In the last Division of Real Estate Newsletter, an article was written about Transaction Coordinators – what they can and can’t do, whether they can work for more than one brokerage at a time, how they can be paid, etc were covered.
Here’s a couple things I took from that article – 1) If the TC is licensed and is providing services for another agent and their client, and those services require a license, then the TC can only provide that type of service for the one brokerage he/she is affiliated with. The TC would not be able to provide those types of TC services for other brokerages.
2) If the TC is not licensed, then he/she can only provide services similar to what an unlicensed personal assistant can provide and can only be paid at a pre determined rate that is not contingent on a closing. This type of TC could provide services that don’t require a license for more than one brokerage at a time. Examples of such services would include clerical duties, courier services, placing signs on the property, etc.
There is a lot more to this topic so if you use a TC and have questions, take a look at the DRE newsletter (see page 18 and 19) and if you have further questions, contact the Division of Real Estate. (801)530-6747.