Help understanding a transaction coordinator fee

[Loren Whitney]

Hey all, I'm in the final stages of selling my primary residence, in fact the closing was today. My wife and I signed closing docs and a preliminary settlement statement a few weeks back in preparation of a new baby on the way. Well, the new settlement statement has a new fee on it and I'm trying to understand the how and why behind it. Can anyone help me understand how a "transaction coordinator fee" might have snuck into my final settlement fee as a sellers expense? Interestingly enough the fee is being charged by a fellow team member/agent on the buyers agent side. I'm scratching my head trying to figure out why this is a service I'm supposed to pay. Please help me understand. Thanks in advance.

[Christopher Brainard]

Based on my experience, A Transaction Coordinator is typically an unlicensed individual who fills out paperwork for a real estate agent. They basically fill the role of an administrative assistant, but it sounds fancier. I'm not sure why you would be paying for one - if the agent chooses not to complete his own paperwork, I would expect him or her to pay. Personally, I Prefer doing my own paperwork to ensure it is complete and accurate. 

-Christopher