What is a key function of a real estate licensee during the closing process?

A key function of a real estate licensee during the closing process is to coordinate the closing schedule. This involves ensuring that all parties involved in the transaction—such as the buyer, seller, lenders, and attorneys—are aware of and prepared for the closing date and time. The licensee plays an essential role in facilitating communication between all parties, confirming that necessary documents are prepared and available, and ensuring that any required inspections or final walkthroughs are completed before closing. By coordinating the schedule effectively, the licensee helps the process go smoothly and ensures that all contingencies are resolved in a timely manner.

While conducting property valuations, reviewing legal documents, and preparing financial statements are important tasks within real estate transactions, they may either fall outside the specific duties of a real estate licensee or be handled by other professionals. Therefore, coordinating the closing schedule reflects the active and direct role that a licensee plays during this critical phase.