1031 Exchange Coordinator

Primary Purpose

Provides exchange services to members in a manner that reflects the priorities, mission, goals and values of Towne 1031 Exchange, LLC and TowneBank.

Essential Responsibilities

• Captures and manages exchange files.
• Coordinates with the taxpayer’s attorney and/or tax advisor and provides exchange transaction documentation.
• Prepares necessary exchange documentation, including exchange agreement, assignment agreements, notice of assignment, exchange account forms, and instructions to the closing officers.
• Handles acceptance and disbursement of funds in accordance with 1031 rules.
• Holds and protects exchange proceeds on behalf of the taxpayer until exchange funds are needed to purchase the replacement property.
• Provides guidance, information, and critical timelines throughout the entire 1031 exchange process.
• Manages exchange process in a timely manner.
• Ensures exchange fees are collected for assigned exchange files.
• Fulfills follow-up on issues requiring response or action as needed.
• Anticipates problems, critical issues, and opportunities as they arise and advises the team accordingly.
• Adheres to applicable federal laws, rules, and regulations, including those related to Anti-Money Laundering (AML) and the Bank Secrecy Act.

Minimum Required Skills & Competencies

• 3–5 years of experience in 1031 exchanges, real estate transactions, title/escrow, or a closely related field, with a solid grasp of how deals move from contract to closing.
• An Associate’s or Bachelor’s degree or equivalent experience and strong knowledge of Microsoft Office and database systems to manage documents, deadlines, and financials.
• Demonstrated ability to evaluate situations, exercise independent judgment and make recommendations/decisions as necessary.
• Excellent time-management, prioritization, and organizational skills.
• Ability to exercise discretion and independent judgment with respect to matters of significance.
• Ability to interpret and apply policies and guidelines effectively and accurately.
• Strong oral and written communication skills.
• Excellent customer service skills and telephone manners.

Desired Skills & Competencies

• Basic understanding of accounting (i.e. debits, credits, General Ledger accounts).
• Experience with Adobe Acrobat DC.

Physical Requirements

• Express or exchange ideas by means of the spoken word via email and verbally.
• Exert up to 10 pounds of force occasionally, use your arms and legs, and sit most of the time.
• Have close visual acuity to perform activities such as analyzing data, viewing a computer terminal, reading, and preparing documentation.
• Not substantially exposed to adverse environmental conditions.