Cincinnati, OH (PressExposure) June 01, 2011 -- In the month of May, New Mexico real estate agents will leverage the online platform that is changing the way a real estate transaction is conducted. DotLoop will enable home buyers and sellers to negotiate a deal more efficiently, online while reducing their eco footprint.
The real estate industry has often been frowned upon for the amount of paper waste in a typical transaction. The average home sale yields 100 pieces of paper. According to the US Census Bureau, in the first quarter of 2011 in the western region of the US, 292,000 homes have been sold. If you multiply the paper used per transaction by the number of homes sold, you find that nearly 30 million sheets of paper are used in one region alone. The amount of paper we are wasting as an industry is unsustainable and there must be a change.
"Somebody needs to address the green issue. When we pass forms back and forth, we are making too many copies and wasting too much paper," said Brad Knapp, Executive VP of Residential Services with Henkle-Schueler REALTORS. "This system is such a breath of fresh air. A lot of younger people in our business are used to working online. The issue has been our industry is typically slow to embrace technology. The average age of the REALTOR is 53, and some of these people were probably trained on a punch card. DotLoop is the future. This is a revolutionary thing."
DotLoop is on a mission to revolutionize the industry and reduce the eco footprint of every user involved in a transaction. New Mexico home buyers and sellers utilizing DotLoop will be able to share, negotiate and electronically sign documents all under one collaborative workspace.
In a state full of national parks, it only fits that real estate professionals in New Mexico take their part in the greening of the industry. DotLoop eliminates the traditional inefficiencies of a real estate transaction with its unique "version-now" software allowing all parties to view the most updated version of the contract. This eliminates multiple trips across town saving gas, time and money.
As the housing market continues to rebound in New Mexico and across the United States, agents will need to meet the demand of today's consumer. According to the 2010 National Association of REALTORS® Profile of Home Buyers and Sellers, 90% of home buyers used the internet in their home search. New home buyers are constantly connected to their smart-phones, tablets or computers thus an online transaction platform is necessary to keep up with demand and increase customer satisfaction.
Real estate professionals have noticed the need for an online transaction platform to meet their clients demands and are now adopting at a rapid pace. Throughout the month of June, DotLoop will continue its national rollout by powering nearly 75 offices throughout Pennsylvania, Colorado, Oklahoma, Missouri and Arkansas.