Do your transactions run smoothly and on time?
To manage transactions, your team needs everything to line up perfectly. Problems like agents skipping a transaction step, disorganized paperwork, late eSignature documents, slow communication, and more can throw off your entire transaction management process. This results in slow transaction management that keeps your brokerage from growing.
The right back office software can help your brokerage avoid these problems and keep transactions on track. Wondering how? That’s what we’ll cover in this post. To start, let’s take a look at the first way back office software can keep your transactions on schedule – checklists.
The first way to keep your transactions on schedule with back office software is to use transaction checklists.
Your agents and team need to remember a lot of steps when doing transactions. This makes it easy to forget a step along the way. But, forgetting a step can slow down your entire transaction management process. Not only does this waste your team’s time but it also limits how many transactions your team can manage – slowing brokerage growth.
With the right back office software, transaction checklists ensure your agents and team never forget a step. Transaction checklists lay out every step of the transaction. And, these checklists won’t allow your agents or team to move on to the next step until they’ve completed the previous step. This ensures every transaction step is completed every time.
Back office software with transaction checklists keeps your transactions on track by making sure every transaction step is completed.
Another way to keep your transactions on schedule is to automate data entry with back office software.
Transaction management involves hours of data entry. Your team also has to transfer this data to other systems (like commission calculation or accounting). All of this data entry can take so long that it throws transactions off schedule. Plus, manual data entry is more error-prone, leading to further transaction management delays.
The right back office software can speed up transactions and reduce errors through automation. Back office software with automation can automatically enter and transfer transaction info. This saves your team hours for every transaction. And, automatic data entry reduces human errors, which also helps to keep transactions on schedule.
With back office software with automation, your team can automate tedious data entry tasks to save time, improve accuracy, keep transactions on track, and grow your brokerage by managing more transactions.
Along with automating data entry, you can also keep transactions on track by using eSignature instead of traditional signatures.
Throughout the transaction management process, relevant parties need to sign documents. If you use traditional signatures, getting all documents signed can throw transactions off schedule.
To get documents signed, your team has to print documents, mail them or hand them off in person, have people sign the documents, and get the documents returned – all of which can delay transactions by days or weeks.
Back office software with built-in eSignature can eliminate this wait and keep transactions on schedule. eSigned documents are sent and signed electronically. The relevant parties get the eSigned documents as soon as your team sends them. Then, the signers can sign the documents whenever and wherever works best for them. Once documents are signed, your team is notified and can move on with transaction management.
The right back office software with built-in eSignature functionality can eliminate signature delays and keep your transactions on track.
Sending reminders is another way back office software can help you keep your transactions on schedule.
Your agents and team need to remember to do a lot of different steps to manage transactions. It’s easy for your team to get distracted with another task and forget to complete transaction steps. This holds up the entire transaction. However, it can be time-consuming and tedious to manually remind your team and agents to complete each step.
With back office software, however, you can automate reminders. If transaction steps aren’t completed within a certain amount of time, this software automatically sends reminders. That way, your team can stay on track to get transactions completed – without you needing to constantly remind them.
Back office software with automated reminder notifications ensures transactions stay on schedule – while freeing you up to focus on brokerage growth activities.
Back office software can also help you keep transactions on schedule by consolidating transaction information into a central hub.
Transaction management requires info from listings, offer management, accounting, commission automation, agent management, and more. With traditional transaction management, your team has to hunt through software, computer files, paper documents, and other places just to find what they need.
Searching for info in so many places can waste hours of your team’s time. This can throw transactions off schedule. And, wasting time to find information can limit how many transactions your team can manage – hurting brokerage growth.
The right back office software can eliminate hours of work by centralizing transaction information.
With this software, your team can find everything they need in their transaction hub. No more searching through countless paper documents, computer files, or software solutions. Instead, your team can quickly and efficiently find what they need to keep transactions on track.
Keeping transactions on track boosts client satisfaction. It can also lead to higher agent retention due to prompt payment. And, making sure transactions are on schedule can help your team manage more transactions to grow your brokerage.
However, manual transaction management is filled with bottlenecks and roadblocks that make it almost impossible to stay on track. That’s why you need the right back office software. This software can help you keep transactions on schedule with transaction checklists, automated data entry, eSignature documents, automated reminders, and centralized transaction info.
If you’re looking for the best transaction management software, Brokermint is the way to go. Brokermint’s transaction management module has an easy-to-understand central transaction hub and transaction checklists. It also automates reminders and data entry. Plus, with built-in eSignature functionality, eSigning documents is a breeze.
Along with transaction management, Brokermint has four other modules (commission automation, accounting, agent management, and reporting/analytics). Together, Brokermint’s five modules have everything you need to modernize and streamline your back office.
Book your Brokermint demo today to see how the right back office software can help you keep transactions on track.
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