Whether you’re working with a buyer or seller, your goal should always be to ease the stress of the real estate process as much as possible. In the 2018 NAR Real Estate in a Digital Age Report, 20 percent of all respondents said that paperwork is the most difficult aspect of real estate—only behind finding the right property!
Most seasoned real estate professionals would agree that the amount of paperwork that comes during transactions is difficult to comprehend. Miscues and hiccups like passed due dates or inaccurate documentation can cause issues for everyone involved. It’s unfortunate, but true, that something so crucial to the industry continues to be compounded by flaws.
The thing is, real estate transaction management doesn’t need to be flashy; it needs to be efficient for the agent, the brokerage and, most importantly, the client. That’s why thousands of offices choose a platform like BackAgent by Propertybase for their transaction and back office needs.
The benefits of implementing transaction management software:
- Mitigate Errors: Create better agent efficiency and reduce the chance your brokerage enters into a lawsuit with structured compliance and dynamic requirements. The BackAgent transaction workflow will give agents the correct document requirements, an easy-to-follow checklist, due dates and more. The chance of mistakes are reduced and E&O costs can be lowered. It’s a win-win for everyone.
- Zero Clutter: While no one has figured out how to reduce the number of pages to review, with the right software you can eliminate the confusing paper trails, integrate forms and utilize e-signature. So, while Dropbox may have once been ideal, it’s time to upgrade.
- Reduce Client Stress: How did this article start off? By addressing the most difficult aspects of buying or selling real estate. Today’s consumer wants simple. They want efficiency. They want that bespoke-like experience. Providing them a portal where they can log in to review documents, communicate with their agent and keep tabs on what’s happening during a monumental life decision is best practice. Every brokerage should look to achieve this goal.
If you’re looking to invest in a proper real estate transaction management platform that combines compliance-driven workflows and brokerage intranet with two-way sync that helps your brokerage recruit and retain agents, while also enabling your agents to succeed and pleasing your clients, contact BackAgent today!
John Voigt is manager, Digital & Brand Communications at Propertybase, a leading global real estate platform designed for brokerages and teams looking to stimulate long-term growth, connect in more meaningful ways with clients, and help agents close more deals, faster.