Real estate transactions are some of the most complicated out there. In the past, these transactions were made using reams of paper, and brokerages looked more filing cabinet obstacle courses than offices.
Today, transactions are transitioning to digital. For each real estate transaction, an agent needs to manage a mind-boggling number of moving parts: official documents, signatures, deadlines, multiple stakeholders, legal and regulatory issues, and more. Brokerages across the country are switching to transaction management software to help take the pain out of tracking and handling the thousands of transaction steps they process annually.
When you decide to make the switch, what should you look for? Read on to learn about the four absolute essentials of a functional transaction management solution:
- Accounting and back office: every business runs on a combination of ins and outs, expenses and income. Keeping track of them is essential. Brokerages also need to manage and track deposits, commissions, and other payments.
- Electronic document management (EDM): real estate has historically been a paper-heavy industry, with brokerages accumulating piles of documents, contracts, and memos. Now brokerages are saying goodbye to paper, so your transaction management solution must be able to manage electronic documents.
- eSignatures: agents no longer want to carry paper files and pens, and customers expect to be able to sign documents from their phones or tablets. You need the technology to ensure that signatures are legally valid, secure, and can hold up in the event of a dispute.
- Responsive customer support: time is money. If your solution isn’t working as it should, every minute of lost productivity costs you money. The best solutions should be “set and forget,” but if something goes wrong, you are going to want help fast.
Transaction management solutions should not only be able to handle every step of the real estate transaction, they should make it easy. You need ease of use, intuitive layouts, and seamless integration. Each component needs to be linked to all the others so your agents and admins are always on the same page. Clunky, piecemeal programs will not help you be as productive as a single, integrated solution. As you make your transition, chances are your brokerage will need training to get the most out of the money you invest, and if something goes awry, you’re going to want help fast with responsive and capable tech support. The best solutions come with free training and support. For the icing on the cake, you’ll probably want to be able to manage the essentials from your phone to save time and be able to take advantage of the mobile-driven business landscape.
Are you ready to move your transaction management into the 21st century? eZmax is the most unified transaction management solution on the market, period. What do we mean by unified? eZmax is a complete suite of powerful applications that are customized for real estate and scalable according to brokerages’ needs. We are truly technically unified: one company, multiple applications, a single solution for unifying your business. None of our competitors can offer that.
What does having an efficient transaction management system really mean for broker/owners like you? In the short term, it means more effective operations, happier staff, and happier customers. In the long term, it means a sustainable competitive advantage that can grow with your business and keep you ahead of the pack. Want to learn more? Get in touch with us today.