What is Transaction Management, and What Are the Benefits?
Transaction management in real estate means letting someone else worry about the details.
Your independent transaction manager coordinates the appointment of the agent, details of your deal and keeps track of deadlines and paperwork. He or she pays attention to the things that may easily slip your mind, particularly during the closing process.
Your independent transaction manager will ensure that your transaction goes as smoothly as possible and does the worrying for you so that it becomes a stress free process.
Here are the main benefits that come from choosing to go down the transaction management path instead of going it alone.
A transaction manager can act on behalf of many different types of vendors, from an individual investor, a family, companies or not for profits and adds a level of expertise and probity/governance to ensure that the vendor is achieving maximum return on the sale of their assets.
Freeing up time.
One of the biggest perks is the fact that you’ll free up a lot of time with transaction management. Instead of wasting time researching and pondering confusing details and options, you can leave all the hard work to an expert and focus on your own business.
Peace of mind.
You don’t need another ounce of anxiety in your life. When you leave the transaction management to an independent professional, you can rest assured that your needs are being taken care of.
Accurate records and confidentiality.
It’s part of a transaction manager’s job to carefully keep track of all documents and details pertaining to your deal. You won’t have to worry about your sensitive information falling into the wrong hands.
Easy communication with other parties.
In any property transaction there may be multiple parties for you to communicate with including the buyer or seller, their agents, conveyancers and so on.
It helps to have someone else who knows who everyone is and when to contact them.
You’ll also appreciate having a representative on your side to handle the sticky situations that may come up. For example, if the other party is being slow about completing tasks on their end, your transaction manager can contact them tactfully yet assertively to keep the process in motion.
You can save thousands by consulting with an expert who knows what steps are necessary, and what are not. The transaction manager will also be protecting your financial interests in the deal. This, along with the significant efficiency savings, will ensure that you come out on top.
Protect your financial interests, investments and company by letting a professional handle the legwork in a property transaction. Reduce exposure to potential legal risks and costly mistakes. The transaction manager will guide you through the process every step of the way.
Knowledge of the current market and latest strategies.
Do you know the best times to buy and sell or who the best agent is to sell your asset? - A transaction manager can help you understand all those aspects and more and will prove to be a rich source of current real estate advice.
You may think all the hard work is behind you when you finally reach a deal on a property. But closing that deal is yet another harrowing process.
Getting professional transaction management support could be your key to a worry-free property deal. Your representative will keep your business objectives and interests in first place so that the transaction goes through smoothly.
For a free initial discussion about your transaction management needs, contact us.
- Ben Heritage, Director, Broadway Property