Picking up the pace
Real estate transactions have traditionally been married to paper, fax machines, pens and toe tapping as all parties wait for documents to pass back and forth over days, a major inefficiency in the industry. E-signature products have shored up much of this process, but DotLoop.com seeks to help manage the real estate transaction process as if all parties are literally sitting in front of each other at the same time by streamlining the entire transaction management process, not just the signature portion.
DotLoop is a user friendly virtual workspace that has grown considerably since its 2009 launch on the National Association of Realtor trade show floor. Revenue for the company has doubled quarter over quarter and the product is available in all 50 states, soon to launch in Canada. The product integrates with products like MarketLeader and Loan Wolf, offers reminders over email and text to prompt parties to stay on task and helps everyone to act in tandem in the process rather as separate moving parts, helping productivity and time management with the transaction.
Think BaseCamp and Google
The user experience is modeled after the Google concept of accommodating power users, CEO Austin Allison told AGBeat. Logistically, the product has a real time agile format like that of BaseCamp. The biggest challenge for the company is educating consumers as to what their offering is, as the paperless office is about more than signatures, but incorporates document management, reminder systems, and more.
The company will be partnering with more brands to expand their offering and can be seen in action here. DotLoop currently serves residential real estate professionals and told us they will eventually serve other verticals like financial services and multifamily.
AGBeat is not affiliated with DotLoop.
