Cincinnati, OH (PressExposure) April 05, 2011 -- Real estate professionals in the southeast are now executing transactions online through the all-encompassing, collaborative workspace DotLoop. In the midst of a national expansion, Georgia-based agents are the newest group of users to DotLoop; increasing efficiency and meeting today's home buyers' demand for faster transactions.
With the prevalence of smart phones and instant connectivity, today's home buyers want the ability to complete the purchase of real estate transactions similar to other products they purchase online. As online business continues to evolve, these tech-minded buyers will appreciate a platform like DotLoop where they can share, adjust and electronically sign documents in real time; under one collaborative workspace.
"I was recently traveling with family for the weekend and had a buyer decide abruptly to write an offer on a house we had seen earlier in the week. No problem with the DotLoop difference," said Tonya Hayes, top-producing Realtor with Keller Williams in Columbia, SC. "I quickly found out what she wanted to offer, logged on and emailed the contract for initials and signatures and was on our way to a ratified contract Monday."
Initiating real-time transactions or "loops" with clients provides a level of communication similar to being at the same table. As each "loop" is created, agents and clients are continually updated as amendments and electronic signatures are applied to each document. The idea is to eliminate confusion and provide greater clarity to each party throughout the process.
Recent studies show an increasing number of new buyers perform their search for a home using the Internet. The National Association of Realtor's "Profile of Home Buyers and Sellers 2010" states, "For the last three years, about 90 percent of home buyers used the Internet in their search."
Electronic signatures have also been a used throughout ecommerce for more than a decade. However, until recently, electronic signatures were underutilized in the buying and selling of real estate. Since the Electronic Signatures in Global and National Commerce (ESIGN) Act was passed in 2000 - officially recognizing electronic signatures as legally binding -- user companies reportedly saw increases in their sales while maintaining the integrity and security of their customers' information.
A 2010 study by Aberdeen Group indicates, "Users of electronic signatures were 50 percent more likely to show improved customer renewal rates, 41 percent more likely to reduce proposal errors and 18 percent more likely to shorten sales cycles." These statistics directly correlate with the functionality of the collaborative workspace within DotLoop.
Upon successful adoption in other regions such as the Carolinas, Virginia, Maryland, Utah and South Texas, DotLoop's presence in Georgia is on pace to gain even more agent users. Agents across the country are experiencing a new way of doing business that makes home buying and selling simple and efficient. After establishing its presence in Georgia, DotLoop continues to expand, reaching new agents in Tennessee, Alabama, Michigan and Northern Ohio during the month of April.