Transactly | Reviews and Pricing | 2024
Transactly is a real estate VA company that offers transaction coordinators to manage your transactions and listings. Unlike most virtual assistant services, you only pay per closing. It is a very appealing model for the individual agent or small to mid-sized team and brokerage.
Transactly was founded in 2018 and is headquartered in St. Charles, MO. They raised $3M in 2020 to help sustain their strong early growth.
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Use Transactly if…
- You are a single agent, team, or small brokerage doing 2-20 transactions/mo
- You are a broker looking for a value add brokerage service to attract agents and get them out of doing transactions and back into winning sales
Skip Transactly if…
- You’re a large team or brokerage and have enough transactions to make use of a full-time offshore transaction VA (consider MyOutDesk)
- You need assistance outside of transaction and listing management (consider Summit VA Solutions)
- You like the US-based coordinators but need more than just transaction management (consider Zirtual)
View Other Virtual Assistant Services
Best Features
Pay at Closing
The major differentiator that immediately sets Transactly apart from many VA services is paying at closing.
You pay from your commission. And they don’t earn until you do.
This is a huge advantage for many agents who are in the chasm between being too busy to keep up but not busy enough to hire a full-time VA or employee.
It’s also an ideal arrangement in a seasonal business like real estate where summer months can be 2x or 3x the volume of winter months. Paying by the transaction will help you manage those spikes in activity without obligating you to a salary when things cool off.
US Based
Transactly describes itself as “Uber for transaction management”. Its employees are all US-based. Some are independent contractors and some are on staff. Many of their TCs work throughout the United States in all time zones.
They currently are available in all 50 states, Canada, and Australia.
They are not licensed assistants. But, of the transaction checklist that Transactly begins with, Transactly can automate 91% of the transaction tasks. They go over in detail which tasks they can perform and what the agent’s involvement needs to look like once a transaction is rolling.
Free TMS Software
Transactly started as a software company, but quickly learned that agents didn’t just want a software to help them complete transactions. They wanted the transaction done.
Transactly gives away their TMS software. Even if you choose not to use Transactly’s TC services, you can use the software.
And it gets better. Even if you don’t like the Transactly software, you can still use their TCs, who will use your TMS of choice.
Listing Management
Transactly also offers listing management, to include uploading homes to the MLS, reviewing portal listings, getting seller signatures, and working the showing feedback.
Biggest Pitfalls
Not Assistants
Transactly provides transaction coordinators (TCs) and listing coordinators. That is all.
They also work only by the transaction.
That means they are not really VAs at your beck and call.
They work standard 9-5, 5 days a week, and promise a 24-hour turnaround on all communications. You also are assigned a TC who is the primary coordinator for your business, although there may be substitutes when that TC is off or on vacation so that your transaction coverage is uninterrupted.
Transactly also has a very thorough onboarding process that gets into the nitty-gritty of your processes, allows you to customize workflows, and control what a TC does or doesn’t do.
But they are still not in-house assistants, and have other clients as well.
Less Cost-Effective for Larger Enterprises
The “pay at closing” model is usually very appealing to individual agents. small brokerages, and teams.
The model is seldom appealing to brokerages and large teams.
A full-time TC might be able to manage anywhere from 20-35 deals a month. Even at the low end of that range, a full-time virtual assistant or even in-office TC is a more cost-effective option.
Transactly does offer volume discounts to make their services more competitive at this level. But their model, plus being US-based, will not compete on cost with a full-time offshore VA.
Transactly Pricing*
- $127/listing for a listing coordinator
- $359/transaction for a transaction coordinator
- Volume discounts available
Listing management is $127 per listing. Transactions are $359 per transaction.
You are only charged for completed transactions that close (except for listing management).
Volume discounts are available for those doing a significant number of transactions.
*This is current to the best of my knowledge at the time of this writing. Contact the vendor directly to check current prices, discounts, and terms.
My Personal Recommendation
I looooove the Transactly model.
I should have been using it years ago. It makes a lot of sense, even for a newer agent.
I’m normally against spending money as a newer agent. But I also am a strong believer that a real estate agent’s job is not to manage transactions. Realtors are (generally) people-people and should be doing client-facing work.
It might be good for newer agents to do transactions themselves at first to both save money and ensure they know and understand the transaction process. But I would consider trying to outsource transaction activities to a company like Transactly fairly early in your career – once you have enough deals going that your marketing and client-activities are being interrupted by title companies, lenders, and inspectors.
Even at 1-2 deals a month, it’s probably time to consider a TC. That is a good time when you still have time to onboard with Transactly instead of waiting until your head is underwater and you’re dropping the ball with clients.
I’m also impressed that they do not try to pigeonhole you into their transaction software as they probably were tempted to do. Having to adapt processes and training to many different software systems is a challenge for any company, let alone a newer one like Transactly. But their flexibility is a huge benefit. Use your own TMS. And if you like theirs, well that’s just a bonus!
Transactly might not make sense for larger brokerages and teams who have enough transactions to outsource to full-time VAs at a cheaper per-transaction cost. Even then, some brokerages may find it worthwhile to offer Transactly to their agents as an optional brokerage benefit – perhaps subsidizing the cost. Many brokers will probably find a lot to like about someone other than agents handling paperwork and compliance. Those aren’t skills commonly found among salespeople.
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