10 Important Steps to Confidently Quit Your Job to Become a Transaction Coordinator
So, you’re thinking about quitting your 9-5 job to go full-time as a Transaction Coordinator? I get it—the freedom, flexibility, and being your own boss sound amazing! But before you make the leap, let’s talk about the things you must do first to avoid burnout, financial stress, and regret.
I know you are ready to quit! Maybe you really hate your job and can’t wait any longer, but I want you to be smart about your decisions. If you stay in your job until you are truly ready, you will use your job to fund your future business!
1. Get Your Finances in Order (No Maxed-Out Credit Cards!)
💰 Have at least 3–6 months of savings to cover personal and business expenses. (Believe me, I talk from experience here!) When I left the hotel to become a real estate agent, I wasn’t financially ready. I had never lived off commissions or sales before, so it took some time for me to adjust. In the meantime, I hurt myself financially because I underestimated the time I needed to learn, generate leads, start working with clients, put them under contract, and then close those contracts.
💳 Don’t rely on credit cards to fund your transaction coordination business—start lean and smart. You can always invest back in your business once you start generating cash, not before.
2. Prepare for Taxes (Because They’re Coming for You!)
📆 Unlike a traditional job, no one is automatically withholding taxes for you.
💡 Set aside at least 25–30% of your income for taxes to avoid surprises.
This is why having a plan and a budget is extremely important for the independent transaction coordinator. You need to understand that if you make $1,000 in your business, you won’t keep the whole amount. You will have to deduct taxes and expenses to understand how much you will actually have left.
3. Cut Down on Unnecessary Expenses (Both Business & Personal)
💸 You don’t need fancy software or a huge marketing budget right away.
✅ Stick to free or low-cost tools (Calendly, Google Workspace, Canva, etc.) to keep expenses low in your transaction coordinator business.
4. Secure Your First Few Transaction Coordinator Clients BEFORE Quitting
🚀 Test the waters by taking on clients while you’re still employed.
📅 Aim to have consistent income from at least 1-3 clients before making the transition.
And I know that if you’re a transaction coordinator, it can be extremely difficult to handle files and serve not just your clients but all the parties involved (buyers/sellers, title agents, inspectors, lenders, you name it!) if you’re stuck in a 9-5 job—especially if you have no access to your phone or computer during business hours.
You know that the lender and the title company work during business hours, and that’s when most of the action happens. If they try to reach you and you’re never available, that might cause issues. If they ask for paperwork during the day and you can’t send it until after hours, they won’t receive it until the next day.
There are ways around this! For example, you could offer compliance-only services at the beginning, where you only handle paperwork for broker approval—nothing else.
5. Know Exactly What TC Services You’ll Offer
🔍 Are you specializing in contract-to-close, listing coordination, admin support, or marketing?
💵 Define your pricing and packages—don’t quit your job without knowing your worth!
The more clarity you have, the better you’ll be able to sell your services. You just need to have a defined list of services and prices—you can always adjust as you grow.
6. Build Your Online Presence & Reputation
If you’re not known in your niche, start working on building your online presence and reputation now.
🌎 Create a professional-looking website, LinkedIn, and social media presence.
📢 Start networking with realtors, brokers, and other entrepreneurs in the real estate niche.
This requires consistency, and you have to be very intentional about reaching out to people. At the beginning, it won’t be the other way around!
7. Set Up Your TC Business Foundations
📜 Register your business (LLC, sole proprietorship—whatever fits your plan).
🏦 Open a separate business bank account to track income and expenses.
💼 Get familiar with real estate contracts, invoicing, and tax responsibilities.
Protect your Real Estate Transaction Coordination business legally! This is an extremely important step. You need to have a Transaction Coordinator Agreement in place that outlines all the services you offer, how you get paid, when exactly, and how to resolve potential issues.
Please do not use a random agreement you find online—you don’t know who wrote it or if it will actually protect you legally. You can check this link to the legal templates I use for TC Agreements, website disclosures, and hiring contractors.
Most people understand that they need to handle the accounting/financial side of their business, but did you know that you also need to pay attention to the legal side?
8. Test Your Lead Generation Strategy
📩 Where will your next client come from? Cold outreach? Referrals? Social media?
🔄 Create a repeatable system to get clients consistently before quitting your 9-to-5.
🎯 Get comfortable with sales and handling objections.
Remember, it’s not enough to be a great Transaction Coordinator—you will have to be a marketer too! And let me tell you, most networking events for real estate professionals happen after hours, so even if you have a 9-5, you can still attend events and build your network. No excuses… 😉
9. Learn the Business Side of Being a Transaction Coordinator
Being a Transaction Coordinator requires skills, and in my opinion, the best time to learn and implement systems is before you get your first real estate transaction or client. By then, it’s too late.
When you get a contract in your hands, it’s go time—you have deadlines! You won’t have time to start developing systems or asking around for help. Please do not practice on your clients.
If you’re serious about quitting your job to be a Transaction Coordinator, make a plan. Buy a transaction coordination training or course, get a coach, maybe find a mentor. I have a free webinar on how to launch your TC business, so that might be a great place to start.
10. Shift Your Mindset from Employee to Entrepreneur
🚫 There’s no guaranteed paycheck anymore—you have to stay consistent even on slow days.
🙌 Believe in delayed gratification—most business success doesn’t happen overnight! 🚀 Embrace the journey, not just the destination, as they say. Every small step you take adds up to significant progress over time.
💡 Stay adaptable and open to learning. The landscape of business is constantly changing, and those who can pivot quickly will thrive.
🤝 Network and build relationships. Surrounding yourself with like-minded individuals can provide support, inspiration, and opportunities you might not find on your own.
Conclusion: Are You Ready to Take the Leap?
Quitting your job to become a Transaction Coordinator is an exciting journey, but it requires preparation and planning. By managing your finances, securing clients, building your online presence, and mastering the business side of your new role, you can set yourself up for a successful transition.
And, if you are curious and would like to learn more about Real Estate Transaction Coordinators, I have included a FAQ section below.
Q: What is the role of a real estate transaction coordinator?
A: A real estate transaction coordinator is responsible for managing the administrative and compliance-related tasks throughout a real estate transaction, ensuring a smooth process from contract to close. Their duties include reviewing contracts for accuracy, coordinating with all parties (agents, clients, lenders, title companies), tracking deadlines, ensuring all required disclosures and documents are completed on time, and facilitating a seamless closing process. Their role helps agents stay organized, reduce risks, and provide better client service.
Q: Do I need a real estate license to work as a transaction coordinator?
A: A real estate license is not always required to work as a transaction coordinator, but the regulations vary by state. Some states mandate licensing if you perform certain tasks. Having a license can also enhance your credibility, expand your opportunities, and deepen your understanding of the real estate process. I highly recommend checking your state’s specific regulations to ensure compliance before starting your TC business.
Q: What are the pros and cons of working as a virtual transaction coordinator?
A: Working as a virtual transaction coordinator comes with several pros and cons.
Pros:
- Flexibility: Work from home and set your own schedule.
- Scalability: Potential to build a profitable business with multiple clients.
- Lower Overhead: No need for office space or commuting expenses.
- Wider Client Base: Ability to work with agents in different markets, not just locally.
Cons:
- Communication Challenges: Without in-person interactions, clear and timely communication is crucial.
- Client Trust & Relationship Building: It can take longer to establish strong relationships without face-to-face meetings.
- Tech Dependence: You must be comfortable using digital tools for document management, communication, and task tracking.
- Work-Life Balance: Since you set your own schedule, it’s easy to overwork if boundaries aren’t set.
Despite the challenges, many virtual TCs find that with strong systems and proactive communication, they can build a thriving business.
Q: How can I start my own transaction coordinator business?
A: To start your own transaction coordinator business, you should first gain real estate experience, choose a business structure, register a business name, and consider transaction coordinator training to learn how to effectively manage the transaction process. You can download my FREE NEW TC BIZ CHECKLIST
Q: What is included in transaction coordinator training?
A: Transaction coordinator training typically covers essential topics, including:
- The Real Estate Transaction Process – Understanding the steps from contract to closing.
- Transaction Management Systems – How to use digital tools for document organization, task tracking, and communication.
- Client & Agent Coordination – Best practices for working with real estate agents, buyers, sellers, lenders, and title companies.
- Building a TC Business – Pricing services, setting up workflows, and marketing to potential clients.
A quality TC training program will equip you with the knowledge and skills to manage transactions efficiently and build a successful business.
Q: Can I operate as a part-time virtual assistant and a transaction coordinator?
A: Yes, many individuals successfully balance roles as a virtual assistant and a transaction coordinator. This combination can provide diverse income streams and enhance your skills in the administrative duties of the real estate business.
Q: How do transaction coordinators charge for their services?
A: Transaction coordinators often charge a fee per transaction, which can vary based on the complexity of the services provided and the local market rates.
Q: What tools and platforms are recommended for transaction coordination?
A: Recommended tools for transaction coordination include:
- Transaction Management Software – Dotloop, Skyslope, Open To Close, Listedkit
- E-Signature Platforms – DocuSign, HelloSign, Zoho Sign
- CRM Systems – HubSpot, Follow Up Boss
- Project Management Tools – Trello, Asana, ClickUp
- Scheduling & Communication – Calendly, Slack, Zoom, Google Workspace
- Bookkeeping & Invoicing – Wave, QuickBooks, HoneyBook
- Form Builder – Google Forms, Jotform
Using the right tools helps streamline workflows, improve communication, and ensure smooth transactions from contract to close.
Q: How can I market my transaction coordinator business effectively?
A: To market your transaction coordinator business, utilize social media channels, network with real estate agents and brokers, and leverage word of mouth to promote your services within the real estate industry.
Q: What is the best way to thrive as a real estate transaction coordinator?
A: To thrive as a real estate transaction coordinator, focus on building strong relationships with real estate agents, continuously improve your administrative skills, stay updated on industry regulations, and provide exceptional service throughout the transaction process.