The US is unique among all housing markets worldwide because the Multiple Listing Service or MLS powers our local markets. MLSs are making the market work allowing competitors to cooperate, bringing buyers and sellers together.
As MLSs power the real estate marketplace, they also are bringing value to their members. MLSs provide members with various services and technology to help agents and brokers grow their businesses.
These tech tools often include what has become the cornerstone of today’s digital real estate movement: transaction management solutions such as Form Simplicity.
Before the pandemic, transaction management was a powerful software system that helped savvy agents go paperless. Today, transaction management solutions are a must-have tech tool for providing clients the safest home sale or purchase possible.
A new study by the WAV Group found that 77% of brokerage respondents say they now process at least 81% of their transactions through their digital transaction management tool. In addition, a remarkable 85% said transaction management solutions were “very/extremely valuable” in helping agents close transactions during the pandemic.
Making the real estate market work is what MLSs do, and transaction management solutions like Form Simplicity help MLSs make the market work better. Form Simplicity is one of the real estate industry’s most popular and advanced paperless transaction management solutions.
Here are four ways that a robust – yet easy to use – transaction management solution such as Form Simplicity helps improve the market:
The pandemic has accelerated how comfortable both agents and their clients are with going digital. Transaction management technology is easier to use than ever. It gets rid of paper and removes any concerns clients may have about meeting in person. Offering clients the ability to esign has become a standard requirement, and the Ultimate Edition of Form Simplicity’s popularity has exploded because it provides unlimited esigning.
Many brokerage offices were able to go 100% paperless during COVID lockdowns, when agents had to work remotely, because they had a transaction management solution in place.
2. Eliminating duplicate data entry and reducing errors
One of the most significant pain-points for many real estate agents and brokerages is entering the same data multiple times into their forms. With paper forms, an agent could be entering the same information a dozen times. But with a digital transaction management solution, agents and brokers can enter the data just once.
Math mistakes also can plague paper documents when transposing a number or making a calculation error.
But digital transaction management solutions make the document creation process much smoother. Form Simplicity, for example, uses dynamic, smart forms that both eliminate the need for duplicate entry and automatically handle all the math.
3. Saving time, increasing productivity, and raising profitability
It’s simply faster to complete a digital dynamic form: enter data once, and every field with that data throughout the form is automatically populated. Put away your calculator as the math is done for you with a digital smart form. Never miss another initial – or signature – and have to track down a client to sign or initial a skipped line. Form Simplicity forms, for example, automatically take your client to the next spot on the document that needs their signature or initials.
If an agent adds up all the time spent filling out paper forms and could cut that time in half, how much time would they have to build their new business? How much more profitable could the agent become if the time saved added just one more transaction each year?
4. Data integration, data security, and listing creation
It’s essential to many MLSs to have the ability to import MLS data directly into their Form Simplicity forms to help their members quickly create new digital transactions. The MLS import function eliminates manual typing and having to enter the same data multiple times, reducing errors. In addition, Form Simplicity ensures the MLS listing data that auto-populates their transaction remains complete, accurate, and reliable — no matter how long it’s stored or how often it’s accessed.
Security also is vital for MLS-provided services. Form Simplicity incorporates the use of internal systems, processes, and procedures to keep data unobtainable to unauthorized parties, preventing the use of data in a harmful or unintended way. In addition, all data is bank-grade security protected, using layered 256-bit SSL encryption across multiple data centers.
MLSs want to be sure that only members of the MLS have the ability to search and import listing data into their transactions. Therefore, Form Simplicity employs an internal validation function to ensure that only approved users submit listing data into the MLS.
Delivering members value
The value that MLSs deliver to their members when they provide a real estate transaction management software like Form Simplicity is significant. And today, with the lingering effects of the pandemic, a digital transaction management solution is more valuable to agents and brokers than ever.