Real Estate

Real Estate Update: What Is A Transaction Management Platform?

What is the worst thing about real estate? Paperwork!

People can trudge through open houses even if they find them boring. They can even survive the endless negotiation deals with a real estate agent. But everyone agrees that they hate the paperwork.

Real estate ventures always come with a long paper trail. This means that if you aren’t organized enough, you end up fumbling through the scattered forms for hours. Apart from that, you’ve got deadlines, signatures, and more to take care of.

Honestly, this is enough to drain all the excitement of a prospective purchase out of you. It’s little wonder that in a recent survey from Offer To Close, 61% of home owners said that helping with the paperwork and process was the most valuable thing their agent did during the transaction. We think it’s high time that you drop the paperwork and get yourself a digital transaction manager.

Wondering what it is?

Let’s tell you everything you need to know about this nifty software:

The Basics: What Is a Transaction Management Platform?

In the general sense, transaction management is the consistent assessment of the various individual transactions that take place during a real estate deal. This includes everything from initial purchase agreements to the disclosure forms and a ton more. The whole process is highly time-consuming and not exactly everyone’s cup of tea. Plus, even transaction coordinators tend to make mistakes sometimes.

That’s where Digital Transaction Management (DTM) comes in. Transaction management platforms allow computers to take over the process.

Now, that you understand what it is, let’s look at how it benefits you.

The Benefits: Why Should You Opt for It?

1. Speedier Transactions

Firstly, this is a great way to accelerate the whole transactional process. You are basically letting the software manage all the time-consuming details in the real estate itinerary. Additionally, there are no time constraints as the software is accessible to you at all hours.

So you’ll be able to check up on the progress anytime you want!

2. Efficient Dealings

Real estate ventures go through a lot of channels. There’s your agent, broker, the seller, and lastly, you. This naturally leads to messy transactions and miscommunications that waste time and money. There are times that even the hired transaction coordinator can’t ensure that everyone is on the same page.

On the other hand, the DTM fills in the gaps and keeps everyone informed without issues.

3. Reliable Management

The fact of the matter is that a computer doesn’t make mistakes. This characteristic makes them an ideal candidate for this grueling task. Your transaction manager looks over every tiny detail that is entered into the system. So you’re less likely to miss a signature or add inaccurate information under their supervision.

Sounds perfect, doesn’t it? Then you should probably select DTM software that incorporates these features. The one at Offer to Close is a brilliant option. The best part is that they are designing a second generation of DTM platform that meets your requirements and the broker’s, and maintains an optimized workflow.

In a nutshell, transaction management platforms are the best resources for efficient management. They keep you up to date at every step of the way. So you’ll rarely find yourself negotiating over missed deadlines or pending tasks.

So what are you waiting for? Let’s go paperless today!

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