Burning out is a genuine concern for many real estate professionals. Feeling overwhelmed at the amount of work or responsibilities and stressing out about deadlines takes an emotional and physical toll. So savvy brokers are always looking for ways to help their agents (and themselves) find that work-life balance. One way they pursue is to provide their agents with the right tools to facilitate their work, including SaaS products.
Today, two-thirds of all Realtors use a digital transaction management program. One in four use it daily or nearly every day. And about one in three use a transaction management program for their business at least a few times a month, according to a National Association of Realtors recent study.
As an industry, we have witnessed a remarkable surge over the last two years in the adoption and use of digital technology. For example, a study by the WAV Group shows that brokerages using transaction management solutions saw their value increase and usage soar during the pandemic.
Most of the brokerages surveyed – 85% – said their transaction management solution was “very/extremely valuable.” For nearly three in four brokerages surveyed, 81% of their transactions use their digital transaction management software.
Brokers know their top-producing agents rely on transaction management software to fuel their success.
They know the remarkable value that a digital transaction management solution can bring to a brokerage and its agents, including these three surprising advantages.
Providing a way for agents to be more organized is one of the positive consequences of using transaction management software.
It’s pretty common for some real estate agents to be organizationally challenged. Transaction management software helps brokers fix that problem permanently. Having everything in one place – digitally – automatically helps organize agents.
For example, with Form Simplicity, the digital transaction management software owned and operated by Florida Realtors® available to agents and brokers nationwide, the most current forms are always in one place and easy to find. As a result, transactions are kept up-to-date, protecting everyone from the risk caused by the accidental use of an older form, and saving agents from wasting time having to dig through countless computer folders to find the right form.
Everything is stored online, enabling brokers and agents to manage, track, store, and access all the information they need from contract to close. Not just every document but every email and text related to the transaction can be automatically filed away in one place designated for each transaction.
For a broker-owner, improved agent organization means having a complete and comprehensive digital trail of every document and correspondence instantly viewable. This capability provided by transaction management software becomes an irreplaceable time-saver for brokers when an audit is required.
At the heart of every great transaction management solution is collaboration. Increased collaboration between all the parties involved in a transaction is crucial for delivering the best customer service experience to buyers and sellers.
Collaboration fuels more communication, and having good and timely communication skills is one of the essential traits clients look for when hiring an agent.
That’s why Form Simplicity is mobile responsive to help agents and clients who are always on the go. Real estate is a mobile industry, and having the ability to manage a transaction from wherever you are – and giving clients the ability to access information or sign documents remotely is no longer a luxury but a competitive “must-have.”
Through digital transaction management software, brokerages can empower their agents to better engage and communicate with their clients. Happy clients mean more powerful word-of-mouth recommendations that lead to more business, resulting in greater profits for both agents and the brokerage.
Transparency is required to achieve exceptional communication. Digital Signatures built into the transaction management software delivers clarity to keep apprised of each stage, status, and next step. Giving clients more visibility through better communications is what clients want.
Raises the customer experience:
Brokerages know that good service isn’t good enough; today, the client expects exceptional service. Transaction management software can help ensure a next-level client experience.
One of the great benefits of significant real estate technology from a broker’s point of view is that it can save both their agents and their clients time. Saving agents time makes them more productive, keeping them busy and loyal.
From the client’s point of view, saving time also means reducing stress. When someone is in the middle of the biggest financial decision of their lives, reducing their stress can often be what makes good agents great.
Clients have a higher expectation of service today because of technology. Amazon can deliver what you often need in a couple of hours and almost certainly the next day. Uber removes the worry about where to park as well as the expense. Door Dash delivers our favorite foods, ready to consume, often in minutes. And you can track every step of the process.
The challenge for agents is that every other agent, it seems, says a great customer experience is their fundamental value proposition. The difference is how that service is delivered: not just by the agent and brokerage, but the technology underneath every transaction.
Going from good to great to an exceptional customer experience is a heady task. But it is hard to imagine how an agent can get there today without a digital real estate transaction management software with a great tech support team to assist agents and brokers.