Wednesday, March 19, 2008

Transaction Management

March’s buying guide in Realtor Online takes a look at transaction management solutions. With space limitations we can’t include every company, but I try to identify the major providers in these guides. Spend a lot of time searching the Web, soliciting input from brokers and agents, asking contacts about their products and competitors. No matter, there’s almost always some left out or overlooked.

I’m hoping to use this space to supplement or expand on the coverage there. Coming out of this story, the most important thing I heard from vendors and successful users of transaction management systems: assign someone with primary responsibility for managing that system, entering listing data, contracts and forms, contact info, etc

Some are selling the systems, and some are buying into the concept, with the idea that a Web-based transaction system is going to make life easier for the agent, centralize all their records with a system for tracking progress toward closing.

What I heard, though, is the transition can be counterproductive if you force them to learn and adopt new habits.
Relieve them of that responsibility by assigning it to or hiring a listing coordinator or transaction manager,(however you describe that position) and everyone benefits. Agents can focus more time on clients, assured everything is taken care and nothing will be missed. Clients and their representatives can monitor the progress and see what needs to be done.

And the system which improves efficiency while allowing agents to spend more time with buyers and sellers gives the broker a potent tool for recruiting.

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