Job Title: Exchange Coordinator
Reports to: Branch Manager
FLSA Status: Non-exempt
Location: Collegeville, PA (Full-time, Hybrid)
PURPOSE
The role of the Exchange Coordinator is to provide administrative support for Exchange Officers to ensure a successful transaction in strict compliance with IRC §1031, Treasury Regulations, Rev. Proc. 2000-37, related tax law, and 1031 CORP. Standard Operating Procedures while maintaining superior customer service and efficiency. Will also provide support to our team members, as directed.
DUTIES AND RESPONSIBILITIES
- Develop working knowledge of IRC §1031, Treasury Regulations, related tax law, and 1031 CORP. Standard Operating Procedures.
- Responsible for timely and accurate preparation of correspondence to clients and their agents and advisors, including but not limited to client 45-day instruction letter, reminder letters, thank you letters, document summaries, account summaries, and other pertinent exchange documentation.
- Coordination with closing agents and Exchange Officers to ensure smooth closing handled in accordance with 1031 CORP. instructions. Includes initial introduction to closing agent, forwarding instruction letter from Exchange Officer, securing draft of closing statement for review and signature by Exchange Officer, ensuring receipt of necessary closing documents, processing exchange fees, thank you letters to closing agents, and necessary follow-up. Also responsible for preparing internal disbursement authorization and related documents to be approved by the Exchange Officer.
- Ability to timely and accurately respond to questions from clients and his/her agents and/or advisors and complete necessary follow-up, including forwarding questions to the Exchange Officer, when necessary, and recording the discussion in client contact history.
- Responsible for creating audit preparedness for the client, including a significant electronic document trail and detailed summarization of all discussions with clients and their agents and/or advisors.
- Keep Exchange Officers aware of the status of transactions.
- Adequately track the status of each transaction to manage workflow and priorities.
- Conscientious about minimizing company expenses and maximizing profitability as well as clients’ return on funds.
- Occasional attendance at company seminars, sponsored events and/or training opportunities. Some may be held during evening or weekend hours and/or involve out-of-town or overnight travel.
- Assist with tracking of referral sources and sending appropriate thank-you notes and/or gifts.
- Maintain the client’s electronic folder.
- Assist with business development efforts through participation in various allied professional associations, networking events, trade shows, presentations, and various sales meetings.
- Provide administrative support for Exchange Officers, including the set-up of client files, client database contact, mailing letters, and other tasks requested.
- Provide assistance to other members of the team, as requested.
- Develop specific, measurable, attainable, relevant, and timely goals for advancing personal development and 1031 CORP. mission. Goals to be reviewed with the manager quarterly and, if deemed appropriate, more frequently.
KNOWLEDGE, SKILLS AND ABILITIES
- Obsessive attention to detail.
- Ability to prioritize and work under time deadlines.
- Knowledge of real estate closing procedures.
- Demonstrated ability to meet team and corporate objectives.
- Ability to communicate effectively both orally and in writing, in person and by telephone.
- Good decision-making skills.
- Strong analytical and reasoning abilities.
EDUCATION, EXPERIENCE AND LICENSING
Experience in a related field is helpful but not necessary.
CERTIFICATES, LICENSES, REGISTRATIONS
Notary Public or paralegal certificate helpful. After three full years of full-time employment, will be required to obtain the Certified Exchange Specialist® designation offered through the Federation of Exchange Accommodators, Inc. (FEA). Must apply to sit for one of the first two exam administrations after the third anniversary. The Company will pay for two exam administrations.
COMPUTER SKILLS
Familiarity with Microsoft Windows, Microsoft Word, Microsoft Excel, Microsoft Outlook for Email, Microsoft Office 365, contact record management programs, Microsoft PowerPoint, and the ability to find way around the Internet. Knowledge of Sage ACT! and Microsoft Dynamics beneficial.
PHYSICAL DEMANDS
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of the job. Ability to drive to out-of-office consultations, closings, company meetings, seminars, and/or training. Occasional out-of-town and/or overnight travel required, as well as evening or weekend hours. Occasionally required to lift up to 25 pounds.
