When listing inventory is low, what matters most is how quickly you can move through a deal’s details. And for you to be able to do that, you need to know that your transaction management software is on your side—no matter how many details change along the way.
Recently, we asked real estate agents just like you what they really think of their transaction management software—and here’s what we learned.
Quick stats:
- 84% of real estate agents say that transaction management software is essential in their everyday work
- 20% of real estate agents don’t use transaction management software
- The most important aspects of transaction management software are eSignature and document storage
It’s essential in your day-to-day work.
According to our survey, 84% of agents reported that transaction management software is either important or essential for their everyday work. This points to the role that transaction management software plays, with the increasing pace of real estate deals and the rising expectations of a digital generation of clients.
Interestingly, 20% of the agents surveyed reported that they aren’t currently using transaction management software for their deals, though they do see the value in it. After all, transaction management software does cut down on the manual work involved, both initially and when changes happen—and helps agents give their clients a better overall experience.
You rely on it for the most important parts of your work.
Among the most used features of transaction management software are familiar functions for real estate agents.
Of the agents surveyed, 28% said they depend on document management features the most, and 36% reported using eSignature functionality the most of all the features available in their software.
While this isn’t particularly surprising given the nature of real estate deals, it is worth noting that these were also the features agents focused on most as far as what they look for in a transaction management solution to begin with, especially in their considerations for ease of use.
The most common way to get it is through a member benefit.
Our survey showed that 68% of real estate agents currently use transaction management software that they get as a member benefit through their MLS or association, clearly showing the reliance today’s agents have on the organizations that support them.
While only 11% of agents reported that a forms integration was the most important feature of their transaction management software, it was important among respondents that the forms available to them were easy to access and use. It’s possible that increased availability of state, local, and even multi-state forms could make this functionality more popular.
You know what you want to see from transaction software.
We’re always working to improve the software available to the real estate industry—so naturally, we wanted to know what agents look for in transaction management software, too.
Among the top priorities were:
- Ease of use for themselves and their clients, which was far and away the most popular response
- Simplicity in working with documents and data, particularly managing forms and syncing information to reduce data entry
- Integrations with other software, including third-party solutions also provided through member benefits
- Availability and thoroughness of training resources
Ready to learn more about transaction management?
Lone Wolf Transactions gives agents everything they need to move quickly through transactions, work efficiently with clients—all while keeping up the pace as the details of a deal change.
Ready to learn more?
Quick facts:
- Transactions comes with smart forms to reduce data entry and make your work simpler
- The Community holds all kinds of training information and product knowledge to help you learn
- MLS data integrations keep you connected with the right details
- And more!
See how Lone Wolf can help improve transactions for you and your clients today.
