Form Simplicity Document Management

Brokers: 3 Hacks to Improve Your Transaction Management Experience
The life of a real estate broker-owner is a balancing act. You juggle an endless array of responsibilities daily, from recruiting and retaining top talent to ensuring legal compliance, managing finances, supporting agents, overseeing transactions, and building relationships. As a broker, one of the most effective ways to increase office efficiency is by integrating a digital transaction management solution into your real estate business ecosystem. With the right system in place, you can leverage the power of a robust transaction management solution by utilizing hacks to get the most out of your system. Here are three impactful hacks that can help you get the most out of your transaction management system: Hack #1: The power of agent insight — acting vs. reacting Transaction management systems give brokers real-time visibility into deal workflows. Rather than waiting for agents to raise issues, you can proactively identify bottlenecks and provide support. By tracking agent activity, you gain insight to: The habits of top performers to share their best practices across your team Identify points in the transaction lifecycle where agents commonly get stuck Develop standardized systems and checklists to smooth workflows Spot areas where additional training may be beneficial Checking in with agents at critical milestones For example, if you notice several agents taking over a week to get fully executed contracts to buyers, you can work with them to identify obstacles. Perhaps they struggle with understanding a new form or are simply new to the business. Insight can lead to additional coaching, and you can continue monitoring to see if the situation improves. Armed with this knowledge, you can immediately offer support or resources to help agents get back on track, avoiding delays that could jeopardize their deals. This proactive approach accelerates transaction completion rates and enhances agent satisfaction and client trust. Hack #2: Using clauses to save time Creating and saving clauses within your transaction management system, such as Form Simplicity, can significantly reduce the time spent drafting documents. These clauses consist of creating standard phrases or wording frequently used in transactions and making them available to be inserted into forms as needed. This preparation saves considerable time across numerous transactions, making the process more efficient for everyone involved. Both brokers and agents can build a database of reusable clauses related to transaction language for forms, disclosures, and more. With a robust clause library, brokers and agents can search and insert relevant clauses into documents instead of drafting from scratch each time. Some examples of helpful clauses include: Standard terms for listing agreements Phrases for Seller disclosures Verbiage explaining financing contingencies Language surrounding home inspections Consider your office's cumulative time savings across all transactions. The use of prefilling clauses speeds up the drafting process and ensures consistency and accuracy across all transactions, benefiting both agents and clients. Setting up clause libraries will require a bit of effort upfront but will save significant time down the road. Brokers can choose to build a shared clause library or allow agents to create their own individual collections. Hack #3: Configuring automated notifications and email reminders By setting up automatic notifications, brokers put their transaction management system on autopilot. One of the greatest values of task notifications and email reminders within your transaction management system is you can ensure that nothing falls through the cracks. Automated reminders help keep agents, clients, and third-party vendors informed about upcoming deadlines, necessary documentation, and other critical aspects of the transaction process. Email alerts also remove the need for brokers and agents to log in to check statuses continually. Instead, the system pushes out reminders when attention is required. Some examples of notifications brokers can include: Alerting agents when new forms are uploaded that require review Reminding agents of looming tasks and deadlines Informing brokers when transactions reach key milestones requiring oversight Requesting broker review when agents submit completed documents By fine-tuning notifications for different user groups, brokers ensure the right people receive prompts relevant to their roles. Removing the need for brokers and agents to monitor systems constantly enables everyone to focus on high-value activities, saving crucial time. Streamline management with smarter transaction tools You know from personal experience that running a real estate brokerage comes with no shortage of moving parts to manage. Transaction management systems organize workflows to help brokers act as strategic leaders rather than reactive problem solvers. Monitoring agent dealings, building clause libraries, and configuring system notifications allow you to work smarter, not harder, when overseeing transactions. Implementing these three simple hacks helps brokers ensure transactions flow efficiently so agents can provide exceptional service. When you have structured processes in place, you can help create more capacity for business growth while cultivating a positive office culture of success. Learn more about one of America's leading transaction management solutions, Form Simplicity, at formsimplicity.com. Related reads From the Form Simplicity Blog: Protecting your brokerage: How to audit-proof the transaction side of your business Broker Benefits: 3 Ways Brokers Can Maximize Their Use of a Transaction Management Solution 3 Surprising Advantages of a Digital Transaction Management Program Tricia Stamper is Director of Technology at Florida Realtors®, which owns both Tech Helpline and Form

Protecting Your Brokerage: How to audit-proof the transaction side of your business
As a real estate brokerage owner, one of your top priorities is to protect your business, including costly and time-consuming audits. Implementing a digital transaction management system can help you effectively "audit-proof" the transaction side of your brokerage by automatically maintaining detailed records and documentation that is easy to access and provide if you face an audit. Streamline documentation One of the biggest time drains associated with audits is gathering all the necessary paperwork around your agents' transactions. When transactions are handled manually with traditional paper files, assembling documentation for auditors takes enormous administrative time and effort. Staff must dig through piles of paper documents to identify forms, contracts, disclosures, and other items needed to substantiate a transaction. Tracking down information for one deal could take hours. Now, how much time could it take if auditors want to review 10, 20, or 100 transactions? A robust transaction management system stores all documents related to real estate deals digitally in one centralized platform. This makes pulling together files associated with a specific transaction quick and simple. And if you need to gather all transactions handled by a particular agent, you can do that quickly, too. When you have a digital transaction management system that is broker-friendly, like Form Simplicity, it only takes a few clicks to allow you to access the required documentation for auditors instantly. Forget the paper shuffle and avoid getting buried under stacks of files. Digital access means transaction records can be collected and organized in just minutes versus days. Maintain meticulous transaction records Auditors want to see a precise paper trail for real estate transactions. It's up to brokers to maintain careful records that accurately reflect essential information and events, including time/date stamps. Without diligent documentation, you risk facing fines, penalties, and other negative consequences if issues arise. Regulators will look for detailed confirmation that you and your team followed policies and regulations correctly, made the necessary disclosures, and completed other essential steps. A quality transaction management system helps brokers more easily ensure compliance by automatically recording the necessary time/date stamps, tracking document actions (uploads, downloads, shares), and providing a precise audit trail showing who accessed or modified records – and when. Having a detailed online log gives you accountability and demonstrates to auditors that your brokerage's transactions are handled meticulously. No more nervously waiting to see if your agents' paper records line up: with a transaction management system, you have complete confidence that everything is transparent and above board. Confirm transaction oversight from any location Brokers are ultimately responsible for supervising their agents and ensuring real estate deals follow policies, laws, and regulations. However, with agents conducting transactions in the field, maintaining strong oversight can be challenging — especially for busy broker-owners balancing a wide range of responsibilities. It's simply not feasible to physically monitor every deal in person when you have 10, 20, or 50+ agents working actively with buyers and sellers in an office or across a region. Online transaction management platforms empower brokers to monitor transactions remotely and in real-time, regardless of location. You can instantly check in on the status of any deal to ensure proper protocols are followed, essential tasks are completed, and nothing is missed. Perhaps most importantly, you gain reliable transaction oversight from wherever you happen to be. There is no need to play phone or email tag with agents to track down document status when it's readily visible on your computer, wherever you are. Knowing you can log in and have complete visibility, even from your smartphone, eliminates geography as an audit hurdle. Boost agent productivity and organization Disorganized agents potentially create bigger risks and more headaches — especially during audits. Sloppy recordkeeping can raise red flags if crucial documents are misplaced or details are incomplete or unclear. Transaction management technology helps organize disorganized agents, creating accountability and productivity throughout each transaction. And when there is an audit, a more organized agent can simplify audits. Intuitive transaction management systems like Form Simplicity feature structured workflows that guide agents through key transaction steps and automated reminders to complete essential documents and deliver analytics that provide instant insight into where deals stand. Transaction management systems boost agent organization, efficiency, and responsibility. Moreover, because records are stored digitally in structured templates within the platform, there's no shuffling through mounds of paper files seeking specific forms. Agents stay on track, and transactions remain appropriately documented. The easier your agents handle compliant transactions, the easier the audit. Transaction management enables transparency across your brokerage so that audits can be routine rather than disrupted. Centralized advantage Between gathering paperwork, answering auditor questions, providing extra documentation, and monitoring the audit, the administrative burden on brokers can be heavy, often requiring complete focus for days or more. Audits can significantly detract from a broker's ability to run their business, support agents, and assist clients. Your existing responsibilities don't stop during an audit, and brokers face bandwidth constraints trying to manage it all. Because a digital transaction management system keeps everything connected and accessible with each transaction in one place, much of the audit prep is already handled in advance. You move your brokerage from managing a manual paper chase to simply electronically gathering the requested information. Because your system tracks where everything stands, you'll have more bandwidth to focus on running your brokerage operations even amidst an audit. Bot-free, human tech support Bots may have a place in answering routine questions, but when troubleshooting the complexities of a transaction management system, you need human assistance. Only the best tech systems offer live support these days, and getting the help you need when you need it is crucial, especially if you are preparing for an audit. One example: agents and brokers using Form Simplicity get free, live tech support from the real estate industry's No. 1 tech support service, Tech Helpline. So, when you run into a technical roadblock or are unsure how to create a transaction checklist, or access certain information from your transaction management system, contact a trained analyst to reduce your time and energy. Transaction management systems: Your audit armor A robust digital transaction software can transform how your brokerage operates — especially when it comes to a frustrating audit. You can assemble documentation in a breeze, meticulously track transactions, and promote organization among even the most disorganized agents. You can "audit-proof" your business with a transaction management system so you can focus on service and growth rather than a stressful audit. A digital transaction management system is your brokerage's audit armor, giving you peace of mind even if that audit never comes. Related reads From the Form Simplicity Blog: Transaction Coordinators: How Real Estate Management Systems Work 4 Ways Brokers Can Build Their Brand with Form Simplicity Broker Benefits: 3 Ways Brokers Can Maximize Their Use of a Transaction Management Solution Tricia Stamper is Director of Technology at Florida Realtors®, which owns both Tech Helpline and Form

Redfin Publishes Air Factor Data from First Street to Show Risk of Poor Air Quality
Redfin is now publishing Air Factor data provided by First Street for nearly every U.S. property listed on Redfin.com and the Redfin iOS app. Redfin is the only brokerage to provide air quality risk data at the property level. "Redfin wants to ensure that every single person searching for a home has the information they need to understand climate risks," said Redfin Senior Vice President of Product and Design Ariel Dos Santos. "Air pollution is an important consideration as poor air quality becomes more frequent due to climate threats such as wildfire smoke." The number of poor air quality days in the Western U.S. surged by as much as 477% between 2000 and 2021, in large part due to wildfire smoke, according to a First Street analysis of data from the Environmental Protection Agency (EPA). A recent Redfin-commissioned survey found that 9% of recent U.S. home sellers cited concern about the impact of climate change as a reason for their move. First Street's Air Factor is a property-level risk model that estimates the likelihood of poor air-quality exposure based on the number of poor air quality days expected today and over the next 30 years. It includes two common pollutants: PM2.5, which often comes from wildfire smoke, and ozone (O3), which occurs when pollutants react with heat/sunlight. "Air Factor takes into account environmental threats to air quality such as wildfire smoke as well as man-made pollutants like emissions from cars to create a full picture of what's causing poor air quality and where," said First Street CEO Matthew Eby. "People searching for their next home on Redfin will now be able to see exactly what they're getting into with poor air quality, which is an important piece of the puzzle when considering climate risks." Redfin published a report today that shows about 1 million more people moved out of than into U.S. metros with high risk from poor air quality in 2021-2022, while low risk metros saw 1 million more people move in than out. The areas facing high risk from poor air quality are concentrated in the American West, which is grappling with intensifying wildfires, and many are in expensive states like California. Redfin found that the median home sale price in metros at high risk for poor air quality was $563,710 as of December 2023, which is 65% higher than the $341,483 median sale price in low risk metros. Transparency around climate risks has the potential to impact which homes people choose to live in. A Redfin study from 2022 found that homebuyers who have access to flood-risk information when browsing home listings online are more likely to view and make offers on homes with lower flood risk than those who don't have access. Poor air quality risk data is now available on the Redfin website and iOS app, and it will be available on Android later this year. Redfin also features First Street climate risk data at the property level for wildfire, flood, wind and extreme