Cincinnati, OH (PressExposure) May 03, 2011 -- The move towards completely electronic real estate transactions is quickly becoming the norm throughout the industry. Recently, Michigan agents joined a growing number of real estate professionals across the country as 23 offices began using DotLoop in the month of April to complete deals electronically and increase efficiency.
In response to the growing presence of mobile technology among consumers, REALTORS® use DotLoop to leverage technology, meeting a growing demand to buy and sell homes online. For years, real estate agents and brokers advertised listings online, yet failed to employ closing or transaction functions in the same online space.
According to the 2010 National Association of REALTORS® Profile of Home Buyers and Sellers, the share of buyers who searched "frequently" online for their home rose to 89 percent in 2010.
DotLoop delivers that solution for real estate agents and the home buyers they serve. Using what's known as a "collaborative workspace", agents share and adjust documents with clients in real time, anywhere they have Internet access. When all negotiations are complete, electronic signatures are used to finalize the contracts quickly and securely.
Agents across the country using the "collaborative workspace" are completing deals quicker and easier than before.
"This will set us apart from other agents in how easy it is to make offers on our listings," said Darne Ridgley, REALTOR® with Keller Williams. "The client view will be easy to explain and the co op agents will not have any trouble viewing it either."
While transactions may only be initiated by DotLoop authorized agents, it's available to the cooperative agent receiving the initiation for free. This open source engagement with other agents allows transactions to maintain transparency and simplicity with the home buyer's and seller's interests in mind.
Jim Bowling of RE/MAX Preferred Group of Southern Ohio said, "Depending how you look at it, it could mean the difference of getting a signature at 1 p.m. or 5 p.m. once my client gets off work. My clients sign contracts at work, in seconds."
DotLoop helps an agent overcome the inefficiencies of the traditional real estate process and meet the demands of today's home buyers and sellers. By leveraging technology, both agents and their brokers position themselves for future success.
Agents across the country continue to adopt DotLoop's collaborative workspace with nearly 10,000 new users added every month. In the midst of a national expansion, DotLoop continues to simplify the home buying and selling process for agents and clients in New York, Ohio, Florida and more to come over the next year.