Job Description: 1031 Exchange Transactions

Employment Type: Full-time

Position Overview

National Commercial Services, a member of First American's family of companies, provides single-point service for national commercial real estate transactions. We are seeking a dedicated professional to manage tax-deferral real estate exchanges on behalf of clients, ensuring a seamless process from initiation through closing. This role involves close collaboration with clients, advisors, and internal teams, including escrow officers and closers. The position also includes supervising, training, and developing Exchange Assistants.

About First American

Since 1889, First American (NYSE: FAF) has believed in its people, fostering an inclusive, people-first culture that empowers employees to be innovative and reach their full potential. We have been recognized on the Fortune 100 Best Companies to Work For® list for ten consecutive years and have received numerous awards for being a best place to work for women, diversity, and LGBTQ+ employees.

For more information, please visit www.careers.firstam.com.

Responsibilities

• Develop proficiency in 1031 exchange rules and effectively answer customer inquiries.
• Handle client inquiries regarding exchange agreements, purchase agreements, and escrow instructions.
• Review purchase agreements and title reports.
• Prepare exchange documentation for relinquished and replacement property closings.
• Follow company procedures and comply with Accounting Policy.
• Process mail and update files, utilizing calendar and tickler systems to monitor timelines, deadlines, and closing dates.
• Prepare and finalize Assignments, Amendments, and Indemnities as needed for exchange processes.
• Review estimated closing statements for accuracy and approval.
• Manage acceptance and disbursement of funds, ensuring proper collection of fees and interest income.
• Oversee final disbursements, including exchange closing statements, 1099s, and the return of excess funds.
• Provide direct customer service by troubleshooting issues, following up with clients, and promoting high levels of satisfaction.
• Conduct outreach to existing and potential clients to foster business growth and maintain relationships.
• Manage daily pass-through and savings deposits, including initiating and monitoring wires.
• Balance daily accounting ledgers, maintain control records, and ensure proper filing and order of exchange files.
• Submit weekly and monthly log and revenue reports as required.
• Perform other duties as assigned.

Requirements

• Required Education, Experience, Certification/Licensure:

  • High School diploma or equivalent.
  • 1-2 years of related experience.
  • Accounting, bookkeeping, customer service, or sales experience is preferred.

• Knowledge, Skills, and Abilities (KSAs):

  • Strong customer service orientation.
  • Detail orientation.
  • Excellent verbal communication.
  • Problem-solving skills.
  • Strong organizational skills.
  • Ability to learn 1031 exchange rules and procedures.
  • Computer knowledge/experience.
  • Typing skills.
  • Basic math skills.
  • Organization and planning.
  • Flexibility and ability to manage multiple priorities.
  • Good verbal and written communication skills.
  • Leadership abilities.
  • Creative problem-solving and decision-making.
  • Coping/stress management skills.
  • Team player orientation.

Compensation

• Pay Range: $27.40 - $36.53 hourly. This hiring range is a reasonable estimate of the base pay for this position at the time of posting. Pay is based on a number of factors, which may include job-related knowledge, skills, experience, business requirements, and geographic location.

What We Offer

By choice, we don’t simply accept individuals into our company; we seek out those who are driven to make a difference.