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Real estate, as we know it today is a vast business with many moving pieces. This complexity has led to the emergence of real estate transaction management software that can help streamline processes and reduce human error. With so many choices on the market, how do you decide which platform will work best for your needs? Here are 6 platforms to consider!
The “best transaction management software for real estate” is the most important tool in any real estate agent’s arsenal. With so many platforms to choose from, it can be difficult to find the one that best suits your needs. Here are 6 of the best platforms available.
Real estate professionals may use the finest real estate transaction management software to securely produce, transmit, store, and monitor documents, resulting in more efficient sales processes. Based on pricing, Integrations, storage, security, simplicity of use, and customer support, we selected the top six transaction management solutions.
2019’s Best Real Estate Transaction Software
What We Looked For When We Were Evaluating Real Estate Transaction Software
During the sales process, agents and brokers should be focused on the customer, which leaves little time for document management. That’s why we choose transaction management software that makes the process go more smoothly. We looked for solutions with electronic document signing capabilities, plenty of storage, easy-to-use interfaces, many connectors to simplify processes, strong data security, and excellent customer support.
The following are the criteria we utilized to choose the best transaction management software:
- We looked at systems that cost no more than $30 per month for agents and $100 per month for brokers to verify the software was cheap. A bonus is a free trial or a discount.
- Features: At the very least, the capacity to transmit and receive electronic documents must be considered. Advanced features like as tracking, reporting, electronic signature, and alerts set some products apart from the competition.
- Integrations: Because it saves time and effort to be able to seamlessly integrate existing agent/broker solutions—such as customer relationship management (CRM) tools, website builders, and lead generation tools—into transaction management software, we favored platforms that allow for easy integration with multiple third-party tools.
- Storage: The option to save papers allows agents and brokers to maintain track of contracts for future reference and auditing. As a result, we only looked at software that has adequate storage to handle all of the documents needed in a sales transaction.
- Security: Because real estate papers include sensitive personal information, security is a must-have; either built-in encryption or third-party security certification was a must for the software we evaluated.
- Ease of use: Various of the transaction management software in our rating is simple to use by people of all skill levels and for a variety of purposes. Where applicable, instructions on how to utilize each one are supplied.
- All providers were required to provide email and phone assistance as a baseline criteria for our rating. Bonus support features included chat and a training library or webinar.
Dotloop was named the best real estate transaction management software in our list because to a broad set of features—available on PC and through a mobile app—that enable agents and brokers to electronically communicate papers to buyers and sellers. Dotloop is not only simple to use, but it also has a lot of third-party connections, plenty of storage, and security for a low fee. Furthermore, the platform’s customer support is outstanding.
Overall, Dotloop is the best real estate transaction management software.
Dotloop is our top selection for real estate transaction software because agents can effortlessly prepare and transmit papers from their desktop or mobile app for just $29 per month. Dotloop is unusual in that it provides customers with the ability to text form in addition to conventional document management facilities. Dotloop is great for agents that spend time out in the field because of its mobile-centric solutions.
Pricing on Dotloop
Pricing on Dotloop is $29 per month for agents for unlimited transactions. In place of a trial period, agents can sign up for 10 free transactions to test the features for themselves. There is a broker package that includes multiple users, but this requires custom pricing; call Dotloop for a quote.
Dotloop’s Advantages
Dotloop has the ability to produce, modify, and transmit electronic documents from a desktop computer or a mobile device, among other things. To simplify the sales process, agents may deliver papers to customers by online fax, short messaging service (SMS) text, or email. Agents may also expedite processes and protect the safety of client information with strong integration of third-party applications and high-level security for document storage and sharing.
Storage
Agents and brokers may go through emails and signed papers, update history, and view records for all transactions in one spot using Dotloop storage. Dotloop, on the other hand, is lacking reporting on saved documents and transactions. While most agents do not need this level of reporting, Brokermint is a superior option if you do.
Security
Dotloop protects data by using an independent third-party security agency to examine protocols on a regular basis. Dotloop’s security policies are so strict that it doesn’t even share user information inside Zillow, its parent firm. Information is not downloaded unless the agent or broker actively requests a copy of a contract or data by clicking the download option in their account. Dotloop security is unrivaled on our list with these characteristics.
Integrations
To make it simpler for agents to migrate across platforms, the Dotloop platform interacts with 55 real estate solutions. Real Geeks, PropertyBase, Dropbox, Zillow, and BombBomb are just a few of the platforms available. There are also franchise Integrations for ERA, Coldwell Banker, Century21, and numerous more firms, with logos and branding elements already supplied.
Characteristics that are unique
While several real estate applications are available, Dotloop’s mobile software for monitoring deals on the move stands out. You may not only read, but also sign and submit documents using the platform’s Android or iOS apps. Agents may also connect with customers and other transaction parties while on the road, making it simple to manage the sales process without disrupting house showings or client meetings.
Electronic transaction management software Dotloop
Dotloop’s Usability
The most common comment about Dotloop is how simple it is to set up and use. Dotloop is a pioneer in making electronic document distribution accessible for agents and customers, from producing and delivering papers to modifying documents from the mobile app.
Customer Service at Dotloop
Customer Service at Dotloop is top-notch with representatives available via phone, email, or chat Monday through Friday from 8 a.m. to 10 p.m. and Saturday and Sunday from 9 a.m. to 6 p.m. Eastern time. Dotloop’s website also hosts a robust library of webinars and video topics that help customers answer both technical and general use questions.
What Does Dotloop Lack?
While Dotloop is strong, it lacks the sophisticated branding customisation that enables agents to personalize documents. While logos may be inserted, there are no other formatting choices. For some agencies, this means that forms are excessively generic, which detracts from their brand. If you want unique branding, DocuSign is a better option.
What Dotloop Users Have to Say
Dotloop is quite popular among users due to its simplicity of use and extensive functionality. Dotloop’s functionality and mobility have been praised by hundreds of reviewers on g2 and Capterra. Dotloop’s most useful features are said to be its simplicity of setup and everyday usage.
Dotloop’s Location
Dotloop gives agents the ability to create and send electronic documents affordably from any computer or mobile device. Find out more about Dotloop’s Advantages and sign up for your 10 free transactions today.
Dotloop is a website that you should check out.
DocuSign is the best option for NAR members.
DocuSign is a transaction management software with special features for members of the National Association of Realtors (NAR). They get a large discount as well as other benefits. DocuSign stands out because it allows real estate brokers to brand their messages and get complete signature notifications for around $35 per month. DocuSign is the greatest option for NAR Realtor members because of the discount.
Pricing for DocuSign
DocuSign provides a $10/month Real Estate Starter bundle and a $20/month Realtor package with more features. The Realtor bundle, on the other hand, is available to NAR members for just $16 per month. This features transaction management with no limits, document comments, language support, and signature reminders and alerts.
Features of DocuSign
DocuSign provides real estate professionals with a variety of signature, branding, and language support solutions. Everything stays on schedule thanks to the presence of warnings and reminders regarding missing/completed signatures. DocuSign, on the other hand, isn’t known for its Integrations.
Storage
DocuSign preserves completed documents for 30 days once they are deemed complete. Account administrators have the ability to update these settings for a period of up to 9,999 days. Connecting your own cloud storage—such as Dropbox or Google Drive—to DocuSign is the only method to back up all of your documents forever. Consider Dotloop for agents or Brokermint for brokers if storage is an issue owing to frequent auditing or tracking requirements.
Security
DocuSign, like Dotloop, is concerned about security and has various security certifications. These include ISO 27001, Payment Card Industry Data Security Standard (PCI DSS), CloudTrust, and Cloud Security Alliance (CSA) Security Trust Assurance and Risk (STAR) protection, all of which originate from approved security sources. To ensure that your data and information are secure, all certifying associations independently evaluate and validate DocuSign’s security standards.
Integrations
DocuSign’s third-party Integrations are more restricted than Dotloop’s. ConnectMLS, Google Docs, Salesforce, and ZohoCRM are just a few of the general-purpose platforms it integrates with. It does, however, include iBroker, LoneWolf, and LeadStreet real estate interfaces.
Characteristics that are unique
DocuSign not only offers lower NAR pricing, but it also provides tools to keep the sales process on pace. Most significantly, the program features signature alerts and reminders to ensure that all essential transaction papers are reviewed and signed by all parties involved. This may be quite beneficial for brokers who are juggling many offers and want reminders to ensure that deals close as quickly as possible.
DocuSign also has a proprietary tool called Zipform, which allows agents to rapidly transform frequently used documents into templates that may be reused at a later time. Agents may also provide customers the ability to edit or add information to document fields.
Ease of Use with DocuSign
Agents and the majority of customers found DocuSign to be quite simple to use, according to reviewers. A few people complained that DocuSign was difficult to use for non-technical customers, although these complaints are uncommon.
Customer Service at DocuSign
DocuSign provides customer support using an online chatbot that responds to simple queries with pre-programmed responses or connects you to a live human for extra assistance. During the week, you may reach out to customer service by phone, email, or an online issue ticket. A video collection, a how-to community, and DocuSign University are also available for learning how to utilize the system.
What Does DocuSign Lack?
Real estate-specific Integrations are the most critical missing component for DocuSign, especially given its affiliation with the NAR and accompanying member discount. Agents save time by being able to link lead generating tools, CRMs, and website builders to transaction management software. BackAgent or Dotloop are better options if this is a concern for you.
What DocuSign Users Have to Say
DocuSign has a high degree of client satisfaction, according to tens of thousands of reviews on Capterra and g2. Some users claimed that less technically aware customers had problems filling out paperwork and signing them in the correct location, although these issues were uncommon and never a deal-breaker for the agency.
PropertyBase’s BackAgent is the best for team communication.
BackAgent by PropertyBase is real estate transaction software that includes electronic document management features as well as an intranet for $5 per month. BackAgent is unique in that it enables agents to talk about different tasks and share a group calendar. BackAgent is useful for brokers monitoring deals involving numerous agents because of this kind of communication.
Pricing for BackAgents
Pricing for BackAgents is $1.50/month/agent for intranet, $3.50/month/agent for transaction management, and $5/month/agent for both. However, there is a $100 minimum. This is an important consideration, as a broker with 20 agents on the $5 plan would pay the same as a broker with one to 19 agents.
Features of BackAgent
BackAgent is the only transaction management software that includes group collaboration options such as shared calendars, task lists, and document comment notification. The intranet allows agents to communicate with one another and identify what tasks need to be completed in order to remain on track.
Storage
BackAgent storage is similar to DocuSign in that it allows you to sync documents to Dropbox or Google Drive via cloud storage connectivity. You’ll need to add any contacts or documents you wish to save to your personal cloud storage for safety. The transaction manager, like Dotloop, stores transaction notes and history for broker auditing and reporting. Dotloop, on the other hand, is a superior option if you need both monitoring and storage.
Security
Secure user accounts and data security are included in BackAgent. Because BackAgent utilizes Dotloop for document management, it is protected by the same high security that Dotloop enjoys. If you’re not a brokerage and security is a concern, you should check out Dotloop directly.
Integrations
Like DocuSign, BackAgent offers limited Integrations, but many of the ones included are real estate-focused—like Zillow Premier Agent. BackAgent also has franchise connections with ERA, Better Homes & Gardens, Century21, Coldwell Banker, and EXIT so agents can add brokerage-branded documents.
Characteristics that are unique
BackAgent’s intranet is arguably its most notable feature. Agents may send direct messages regarding tasks and transaction responsibilities, comment on shared documents, get alerts on document changes, and publish updates on transactions for others to view. A single calendar also aids agents in managing the closing process, assuring a seamless transaction with no extra delays.
User interface for BackAgent (image via web)
Ease of Use for BackAgent
For the most part, BackAgent is simple to use. Users are directed to what to do and where to click to add documents or download contracts using large buttons and icons. A task feed allows consumers to keep track of what’s essential. Agents will get notices above each symbol indicating that they need to pay attention to checklists, calendars, chats, or contracts. Despite the fact that it may seem antiquated, this platform is straightforward to use for all users.
Customer Service at BackAgent
Technical help is accessible by phone and email 24 hours a day, 7 days a week. If you want, you may also plan a call to meet your schedule. BackAgent is a fantastic solution if having access to customer support on your own time is critical to your team’s performance.
What BackAgent Isn’t Giving You
A cheaper charge for smaller brokerages is absent from BackAgent. Although the beginning price of $5 per agent for both intranet and transaction management seems to be a good value, the $100 minimum investment implies that brokers with just a few agents would overpay. Brokermint, on the other hand, costs $99 for five seats. While the pricing is comparable, extra audit tools for transaction management may be worthwhile.
Users’ Opinions on BackAgent
Due to the fact that BackAgent is a new product from PropertyBase, it has less reviews than the other goods on our list. The user interface was somewhat antiquated, according to Capterra, g2, and ActiveRain reviews. BackAgent was praised for its ease of use for transaction administration and team communication, but some users complained that it was clumsy for those used to a modern UI.
Brokermint: Best for Audits & Automatic Record-keeping Features
Brokermint is real estate transaction software that helps brokers prepare for audits by automatically recording and monitoring transactions. In-depth reporting of all transaction records is part of this. Pricing starts at $99 per month and goes up from there. Brokermint is ideal for brokers that want final clearance of transactions, customizable reporting, and document tracking due to its Characteristics that are unique.
Pricing by Brokermint
Brokermint’s Simple package for transaction administration including templates, forms, and reports costs $99 per month. The Standard Plan for one to five agents costs $169 per month and includes team management features, MLS connection, and a group dashboard. Agent onboarding, multiple offices, and single sign-on are all included in the Enterprise Plan, which costs $239 per month.
Features of Brokermint
Checklists, alerts, and templates are just a few of the tools that Brokermint has to help you get the most out of your workflow. Broker capabilities for agent commissions, transaction monitoring, and customizable reporting are also included in the platform. Brokermint’s auditing features are simpler and more comprehensive than BackAgent’s.
Storage
For as long as your account is active, Brokermint offers limitless storage. Brokermint guarantees to never erase any data—even if agents are removed from your account—as the ideal choice for those who need to keep evidence for audits. Brokermint retains all papers generated for your firm as long as your account is active. RealtyBackOffice and Paperless Pipeline real estate transaction management are the only ones that come close.
Security
Amazon Web Services is Brokermint’s security supplier (AWS). Without mentioning any external verification or certification methods like Dotloop or DocuSign, Brokermint claims that AWS has a 99 percent uptime and top-notch security data encryption. If security is a major issue, you should contact Brokermint for further information or look at Dotloop.
Integrations
Brokermint competes with Dotloop in terms of third-party integration. Brokermint recognizes the value of real estate-specific app connectors that save time, as seen by popular app Integrations such as BoomTown, Contactually, and PropertyBase. Custom integration is where Brokermint differentiates itself from other transaction management software solutions. On the user’s request, it will give app integration.
Integrations with Brokermint
Characteristics that are unique
Brokermint’s array of monitoring and auditing capabilities is its selling point. It also includes customizable reminders and notifications for staying on top of all transactions, as well as reporting and analytics based on individual agents, franchises, or transactions, and a broker review feature that allows agency brokers to examine all transaction documents before they are submitted to clients.
Brokermint’s User-Friendly Interface
Brokermint is straightforward to use, according to reviewers. Some customers claim that getting acclimated to Brokermint’s labels and phrases on the interface/dashboard required some time, but that this was not a substantial barrier to utilizing it. Despite the fact that Brokermint is not an out-of-the-box solution, user acclimation was quick and painless.
Customer Service at Brokermint
Brokermint is available 8 a.m. to 6 p.m., Monday to Friday Pacific time. You can call, email, or chat with Customer Service at Brokermint—either for technical help or help setting up your account and using the platform. There is also an extensive online knowledge base available with videos and articles to answer basic questions.
What Brokermint Isn’t Giving You
The ability to utilize Brokermint on the move through an app is the most significant flaw. Because most agents spend time showing homes outside of the office, the ability to produce and deliver papers using a mobile app is critical for saving time. If you’re an agent who spends a lot of time away from the office, Dotloop’s mobile app is a better option.
Brokermint: What Users Have to Say
Brokermint is straightforward to use once you become accustomed to it, according to hundreds of users on Software Advice. Broker features such as reporting and commissions addition were praised in reviews. It was also useful to be able to view everything on one dashboard.
RealtyBackOffice is a real estate transaction software that uses several third-party connections and marketing automation technologies to streamline process. The platform, which starts at $15 a month, offers checklists and templates that help agents get up and running quickly with routine tasks. This real estate transaction coordinator software is designed for agents who wish to improve the efficiency of their day-to-day operations.
Pricing for RealtyBackOffice
The cost of RealtyBackOffice is determined by the number of agents that will be using the system. A CRM, personal pages, pipeline, and group calendars are all included in every rates. A single agent costs $15 per month, ten agents cost $80 per month, and twenty-five agents cost $150 per month. Without yearly contracts, RealtyBackOffice can handle teams of 150 or more for $450 per month.
Features of RealtyBackOffice
RealtyBackOffice focuses on helping agents save time and effort by offering workflow solutions. These include CRM, templates, project pipelines, notifications, auto-generated escrow letters, and agent permissions, among other tools and features.
Storage
RealtyBackOffice, like Brokermint and Paperless Pipeline, will save your data and documents for as long as your account is active. The capacity to access papers and data for monitoring on a continuous basis is a critical component of operating a multi-person agency, therefore RealtyBackOffice’s ability to do so is a significant plus.
Security
RealtyBackOffice claims to utilize 256-bit document encryption to ensure the security of any data transferred and received. RealtyBackOffice does not leverage external security reinforcement like Dotloop or certification services like DocuSign, despite the fact that 256-bit encryption is industry norm.
Integrations
In comparison to the other tools on our list, RealtyBackOffice places a strong emphasis on integration. With more than 1,000 applications to link with RealtyBackOffice—even more than Dotloop—agents may add tools like MailChimp for email marketing, Dropbox for cloud storage, Insightly for project management, and Zapier for almost anything else. RealtyBackOffice is unrivaled in terms of the number of Integrations it offers.
Workflow automation in RealtyBackOffice (image via website)
Characteristics that are unique
While connectors are a strong suit for RealtyBackOffice, it also has its own workflow automation capabilities that agents and brokers would like. This includes the ability to automatically prepare escrow and disbursement agreement letters, access to workflow templates that automatically include activities related with certain types of transactions, and the usage of a plethora of checklists and templates for each stage of the transaction process.
Ease of Use in RealtyBackOffice
According to customer ratings and feedback on its website, RealtyBackOffice is exceptionally simple to use. Many users commented on how easy it was to use right out of the box. The quantity of applications that can be integrated is crucial. They make the RealtyBackOffice system more user-friendly by allowing users to add goods that they are already familiar with.
Customer Service at RealtyBackOffice
RealtyBackOffice, like BackAgent, provides email and phone support 24 hours a day, 7 days a week. During business hours, chat is accessible to assist with technical or billing questions. Customer satisfaction is often improved by the opportunity to ask inquiries at any time of day.
What is missing from RealtyBackOffice?
RealtyBackOffice currently lacks email sync. Although this capability will be available in future releases, it is critical for monitoring and audits to ensure that everything, including email exchanges, is captured for reporting purposes. For agents and brokers, RealtyBackOffice will be difficult to surpass once this functionality is accessible. Dotloop is a superior alternative if email sync is vital to your efforts.
Users’ Opinions on RealtyBackOffice
RealtyBackOffice’s simplicity of use, customer service, and functionality have been praised by users on Facebook and Capterra. The emails sent to customers should be brandable, according to some users, but there were no unfavorable comments.
Paperless Pipeline is a real estate transaction program that charges depending on the number of new deals begun each month; it costs $75 to start. This variable pricing allows agents to pay less or more based on sales rather than the number of users or agents. Paperless Pipeline transaction management software is great for new agents whose business fluctuates a lot month to month because of this unique feature.
Pipeline Pricing without Paper
Paperless Pipeline charges based on the number of new transactions made each month. Ten new transactions cost $75, twenty-five new transactions cost $100, and forty new transactions cost $125. Pricing remains to be $450 for 450 new transactions. There is no startup cost or yearly contract. A 21-day free trial is available to test out the features.
Features of the Paperless Pipeline
A dashboard with notification functions is included in Paperless Pipeline, so you can readily understand what stage each transaction is in and what you need to reply to first. This, paired with the platform’s simple report production, makes it suitable for agents looking for a straightforward transaction management solution with adjustable pricing.
Storage
Each month, Paperless Pipeline lets you to download all of your data and documents in bulk. Like Brokermint and RealtyBackOffice, Paperless Pipeline backs up your drive every month and gives limitless document storage as long as your subscription is active. Paperless Pipeline is an excellent option if you need infinite storage.
Security
Paperless Pipeline, like Brokermint, leverages Amazon Web Services (AWS) to safeguard client data and backup files. AWS replicates data over many servers to guarantee that if one site fails, the other sites may still be utilized to retrieve files.
Integrations
Paperless Pipeline comes with several simple connectors, such as Google Calendar, DocuSign, and Outlook. Zapier allows for more app connectors for CRMs and lead generation. Zapier, like BackAgent and RealtyBackOffice, is responsible for the majority of Paperless Pipeline’s connections. Consider RealtyBackOffice if you want additional native integrations.
Characteristics that are unique
Because Paperless Pipeline is a focused transaction management platform, it does not provide a lot of supplementary features or capabilities to agents. Paperless Pipeline, on the other hand, could be a suitable option if you want a simpler interface that doesn’t need substantial customisation.
Dashboard for a paperless pipeline (image via website)
Ease of Use for Paperless Pipelines
Of all the real estate transaction management tools on our list, Paperless Pipeline is the most user-friendly. Agents can simply click on a notification and locate the information they need thanks to the straightforward design. Most users may initiate a transaction, upload documents, run a report, assign a task, or connect an app as soon as they access Paperless Pipeline.
Customer Service for the Paperless Pipeline
Through chat, email, and phone conversations, customer assistance is incredibly responsive. Paperless Pipeline’s website features live, human contact across all platforms. After asking a query through chat for two minutes, a person responded with an answer and a phone number to contact if we had any more questions.
What’s Missing in a Paperless Pipeline?
Paperless Pipeline is a transaction management system with no frills. RealtyBackOffice or Brokermint are excellent for those who want slick interfaces or bells and whistles like built-in CRMs. Paperless Pipeline, on the other hand, is ideal for an agent or broker who only wants a customer to sign a contract.
Users’ Opinions on Paperless Pipeline
Paperless Pipeline is straightforward to use and smooth for agents who wish to provide electronic paperwork to customers, according to G2 users. Paperless Pipeline, according to users, makes managing and archiving client contracts a snap.
The Bottom Line: Software for Real Estate Transaction Coordinators
Agents may use real estate transaction management software to produce, transmit, sign, and monitor electronic papers that are necessary for a deal to close. We compared hundreds of choices based on pricing, integrations, storage, security, convenience of usage, and customer support to discover the best ones.
Dotloop is the finest overall real estate transaction management software, according to our research. It offers enormous storage, ironclad data protection, an easy mobile app, and more at a low price, as well as powerful tools for drafting and monitoring documents with e-signatures. Sign up for a free sample of Dotloop now to learn more.
Dotloop is a website that you should check out.
The “best transaction coordinator software” is a platform that can help people manage their real estate transactions. There are six platforms that are available to use, each with different features and functions.
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