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How to Simplify Transaction Management

Real Estate Software

Is your transaction management process complicated, time-consuming, and frustrating?

Managing transactions correctly is crucial to having happy clients, being compliant, and retaining agents.

However, transaction management is extremely complex. As such, it can be a huge time suck. Especially if you’re managing transactions with manual pen and paper or spreadsheets.

So, your agents have to spend time on tedious tasks – instead of on value-adding activities.

But, if you want each transaction to be managed correctly, your team needs to spend a lot of time on it, right?

Nope. With transaction management software, you can simplify your transaction process. In this post, we’ll cover the top ways transaction management software can simplify your process. Let’s get started with the first way – automation.

1. Automate It

Businessman hand using mobile phone with digital layer effect as business strategy conceptWhile transaction management has a lot of moving pieces, many parts of transaction management are simple tasks. Yet, your team wastes hundreds of hours a year tending to those simple tasks.

And, although those tasks are simple, it’s easy for your team to make mistakes. Entering even one wrong figure can cause headaches for everyone involved in the transaction. Including clients – who likely won’t give you referrals or repeat business.

The best way to save time and increase accuracy with transaction management is through automation. Transaction management software with automation takes care of tedious tasks for you. This software can input info, pull data from your CRM or MLS, switch it between systems (like accounting), and even remind agents to complete tasks. All without you having to do anything.

Plus, automation is more accurate than manual data entry. So, you don’t have to worry about your team inputting data wrong. Instead, your transaction management software can do it for you.

Automation shifts the transaction management burden from your team to software. This not only improves accuracy. It also frees your team up to do what they do best – wowing clients.

2. Consolidate Your Process

Another way to simplify transaction management is by consolidating your process.

Compliance Concept. Word on Folder Register of Card Index. Selective Focus.Traditional transaction management involves paper files, excel spreadsheets, email attachments, and more. Trying to keep track of all this information is nearly impossible. And, it can be challenging to keep records to prepare for an audit.

Plus, with transaction info in so many places, it can be hard to stay on top of transactions. Your team doesn’t know what needs to be completed when. So, things slip through the cracks. Whether it’s transaction deadlines, commission disbursement, or anything else, missing things can cause problems with your clients, agents, and staff.

So, you need one place to store and organize everything transaction related. The right transaction management software can do this for you. With an easy-to-use dashboard, you can see everything important at a glance.

This software can also digitally store all transaction data automatically. That way, you don’t have to worry about filing everything manually.

Plus, with advanced eSignature tech, clients can securely review and sign documents from anywhere. Having eSignature capability built into your transaction management software and tied to your forms means you can do everything in one place. That makes it even easier to manage your transactions.

And, with transaction management software, you can even email documents right from the software. Plus, you can track them with the same software. So, you can do everything you need in one place.

3. Create an Easy-to-Follow Process

Close up of business man hand working on laptop computer with social media diagram and chart graph on wooden desk as conceptHaving transaction management software won’t help if your transaction management process is still complicated.

If your team has to jump through hoops to get every step of the process done, they’re not going to follow your process. This increases the chance they’ll miss crucial steps. And, cause problems for you or clients.

So, you need a simple and easy-to-follow process. Transaction management software can reduce the number of tasks your team has to complete. And, with checklists, you can make sure your team does everything they need to do.

Plus, with transaction management software, you can assign tasks to individual team members. So, everyone knows what they need to do when.

With a simple process, you can ensure your team manages transactions correctly and efficiently.

4. Use the Cloud

Businessman hand working with a Cloud Computing diagram on the new computer interface as conceptOne last way to simplify your transaction management is by using cloud-based tech.

Traditional transaction management has to be done from your office. Whether it’s paper files, local excel spreadsheets, or software you have to download onto computers, this transaction management can’t be done from anywhere.

So, your team has to be at the office to manage transactions. And, buyers/sellers have to sign documents in person. Or, with another tech tool – creating a negative client experience.

To simplify your transaction management, you should look for cloud-based transaction management software. You and your team can access this software from anywhere. Including with mobile devices. Whatever transaction-related data you need, you can find it from wherever you are.

With cloud-based transaction management software, it’s easier and simpler for you, your team, and clients to access what you need wherever you are.

Wrapping It Up

Managing transactions is one of the most complicated parts of real estate. However, there is an easy way to simplify it – with transaction management software. Automation, consolidation, an easy process, and cloud technology can make your process more efficient, simple, and quick for everyone involved.

If you’re looking for transaction management software to help you simplify your transactions, consider Brokermint.

More than just a transaction management platform, Brokermint is a complete back office solution. So, you can manage your transactions, accounting, commissions, agents, and do analytics and reports from one platform. And, with a user-friendly interface, Brokermint is easy for you and your team to use.

Simplify your transactions today with your free demo of Brokermint.