The New Way of Real Estate Transaction Management

Electronic real estate transactions are becoming increasingly popular and more real estate boards are supporting this new process for their members. Is your brokerage prepared to support your agents with tools and technology to seamlessly process electronic transactions?

Many brokers encourage certain processes for how their agents complete real estate transactions, but there isn't just one way. Top brokers consider how they need to accommodate all the ways their agents conduct business. Here are a few scenarios to think about as some may apply to your agents' transaction processes:

1. Agent has their independent preference and workflow with an electronic forms and eSignature provider to complete and submit their transactions.
2. Agent likes using electronic forms but prefers to print and sign, then submit to the brokerage electronically.
3. Agent isn't quite ready to go paperless and prefers to work with hard copy forms and submit signed deals to the office administrators manually.
4. Agent adopts the recommended brokerage tool.

Now as a top broker, you innovate and offer digital options to your agents; continue that process. However, don't expect to have all documents submitted one way. Be prepared with systems to service your agents regardless of the type of forms used or the way your agents choose to execute their transactions. You can support your agents with the submission, review/approval and storage requirements of their transaction documents with the correct tools and systems in place.

Understanding the Flow of Data in the Transaction Process as a Funnel

Consider the flow of data through your brokerage. Information moves seamlessly from you, the broker, to your agents and administrators, and back. The transaction process needs to flow the same way within your brokerage infrastructure from the time the transaction is submitted in your transaction management solution to the time the deal closes in your back office.

When an agent creates, executes and submits a transaction, the data should be managed in one central location and should flow within all aspects of your brokerage operations. This supports a streamlined workflow and single point of data entry for your administrators, alleviating the need for duplicate data entry in multiple systems. This also accommodates the processes each of your agents has in place for how they conduct a real estate transaction.

By supporting your agents in how they manage the execution of their transactions, you will promote efficiency and streamline processes for your entire office. The end result will be more productive agents, happier administrators, and additional opportunities to identify revenue potential for your business.

Learn more about how to funnel the flow of data through your brokerage and how you can help your agents succeed with electronic transactions, visit www.lwolf.com/loadingDOCS-funnel.