Georgia Real Estate Professionals Join the Movement with DotLoop’s Collaborative Workspace
Growing User Base Reflects Growing Demand for Electronic Real Estate Transactions
Submitted by: DotLoop
With the prevalence of smart phones and instant connectivity, today's home buyers want the ability to complete the purchase of real estate transactions similar to other products they purchase online. As online business continues to evolve, these tech-minded buyers will appreciate a platform like DotLoop where they can share, adjust and electronically sign documents in real time; under one collaborative workspace.
"I was recently traveling with family for the weekend and had a buyer decide abruptly to write an offer on a house we had seen earlier in the week. No problem with the DotLoop difference," said Tonya Hayes, top-producing Realtor with Keller Williams in Columbia, SC. "I quickly found out what she wanted to offer, logged on and emailed the contract for initials and signatures and was on our way to a ratified contract Monday."
Initiating real-time transactions or "loops" with clients provides a level of communication similar to being at the same table. As each "loop" is created, agents and clients are continually updated as amendments and electronic signatures are applied to each document. The idea is to eliminate confusion and provide greater clarity to each party throughout the process.
Recent studies show an increasing number of new buyers perform their search for a home using the Internet. The National Association of Realtor's "Profile of Home Buyers and Sellers 2010" states, "For the last three years, about 90 percent of home buyers used the Internet in their search."
Electronic signatures have also been a used throughout ecommerce for more than a decade. However, until recently, electronic signatures were underutilized in the buying and selling of real estate. Since the Electronic Signatures in Global and National Commerce (ESIGN) Act was passed in 2000 – officially recognizing electronic signatures as legally binding -- user companies reportedly saw increases in their sales while maintaining the integrity and security of their customers' information.
A 2010 study by Aberdeen Group indicates, "Users of electronic signatures were 50 percent more likely to show improved customer renewal rates, 41 percent more likely to reduce proposal errors and 18 percent more likely to shorten sales cycles." These statistics directly correlate with the functionality of the collaborative workspace within DotLoop.
Upon successful adoption in other regions such as the Carolinas, Virginia, Maryland, Utah and South Texas, DotLoop's presence in Georgia is on pace to gain even more agent users. Agents across the country are experiencing a new way of doing business that makes home buying and selling simple and efficient. After establishing its presence in Georgia, DotLoop continues to expand, reaching new agents in Tennessee, Alabama, Michigan and Northern Ohio during the month of April.
Headquartered in Cincinnati, Ohio, DotLoop is transforming the real estate industry by providing a collaborative workspace where any real estate agent can share and sign transaction documents. As the leading provider of collaborative negotiation services, DotLoop is available to service all real estate professionals throughout the United States and Canada. The innovative DotLoop platform is a collaborative, wholly web-based negotiation platform that lets users add, adjust, approve, and sign documents digitally - addressing the challenges of security, efficiency, and overhead costs in today's real estate industry.
For more information about DotLoop, please click here.
To learn about digital signature solutions available to real estate professionals, please click here.