3 Ways Brokers Can Maximize Their Use of a Transaction Management Solution

The most recent Technology Survey from the National Association of Realtors places transaction management as one of their brokerage's top three most valuable technology tools.

Only digital signatures – typically a feature of transaction management software – and lockbox/showing tech topped this vital tool.

As transaction management software like Form Simplicity becomes more popular than ever, brokers can benefit by uncovering new ways to use it smarter.

Here are three ways brokers can maximize their use to gain more benefits from their transaction management software.

1. Be Intentional

Improved paperwork flow and the ability to track progress are two of the most significant benefits that transaction management systems can offer brokers. Being intentional – building the use of the software into your daily routine – will save time and effort.

Having the ability to manage all your forms in one safe place streamlines your workflow. In addition, with programs like Form Simplicity, every form is kept current, protecting your agents and clients.

Sharing the work to move a transaction forward in real-time is vital. Collaboration has never been easier with transaction management software. From adding missing documents instantly to a platform that allows comments, transaction management software helps eliminate the inefficiencies of back-and-forth emails.

Because everything is stored in the cloud, work can go on uninterrupted. Brokers don't have to track down an agent to find a file or to get a status update. By making transaction management part of daily workflow, brokers can see what's going on – and what needs to be done next, improving efficiency.

2. Be Proactive

Because transaction management software gives a broker transparency into every transaction 24/7, it eliminates the waiting game. Brokers can act immediately and not have to wait on a report or update from an agent: the status and documentation for each transaction can be reviewed at any time in real-time.

The benefit of brokers having greater transparency is reduced risk. Reviewing transactions as they come together can help a broker identify an issue before it becomes a problem.

Brokers also benefit from improving their own workflow and task management. For example, Form Simplicity offers unique broker tools to gain faster visibility into their entire book of business. As a result, brokers can see current and archived transactions, unassigned transactions, review transactions, and manage checklists all in a single place.

Brokers can create and manage teams, provide online review checklists, and notify agents when something in the transaction changes – all within a customized dashboard, showing the broker what they want to see first.

3. Be More Responsive

One of the biggest benefits brokers will notice is the ability to increase agent satisfaction when a transaction management system is in place. Because agents also get transparency into their transactions, they can see their broker's contributions to the review process, including real-time notifications when comments and changes are made.

Broker review is as important a process to the broker as it is to the agent, and a digital system makes the process remarkably smooth and streamlined. The broker can respond within the transaction management system if something is missing, or a change is needed — no more wasted time attempting to decipher emails.

Because advanced transaction management software, like Form Simplicity, is mobile-ready, work can continue wherever the agent or broker is. When leveraged correctly, a transaction management system enables brokers to respond immediately. That means agents can spend more time working with their clients and prospects and not waiting for an answer on a particular file.

For brokers wanting to learn more about the benefits a transaction management system can deliver to their firm and their agents, see formsimplicity.com/brokers.

To view the original article, visit the Form Simplicity blog.