Real Estate Business Technologies (REBT) today announced that it is developing a Realtor-centric transaction management platform for both the real estate industry and other related service providers in the marketplace, and that the National Association of Realtors has agreed to invest $1.2 million in the company in exchange for an equity interest in the venture.
The REBT platform will facilitate interactive collaboration between consumers and their Realtors, with each party receiving an electronic copy of the appropriate documents when the real estate transaction is complete. The platform also will have the ability to track document content as well as create and deliver the transaction’s document history and then archive the documents electronically at the transaction’s close. REBT’s transaction management platform will support contact, task and workflow management, and will allow users to delegate tasks to assistants or transaction facilitators.
“REBT is capable of successfully delivering a transaction management platform to the marketplace through a unique relationship with RE FormsNet, the developer of WINForms and ZipForm, the official software of the National Association of Realtors,” said REBT Chairman Bob Kulick. “More than 180,000 Realtors nationwide already are engaged in electronic forms customer interactions using WinForms and ZipForm. By tapping into this existing base of electronic forms users, REBT can avoid classic missteps and leverage assets that no other entrant has been able to previously muster.”
Through an anticipated one-click interface with this electronic forms software, users will be able to create a transaction, apply a workflow, move data from the forms to the transaction management platform, and then move the forms themselves to the document management system.
The REBT transaction management platform is expected to be delivered to market in 2005.
Real Estate Business Technologies LLC is a subsidiary of Real Estate Business Services Inc., which is a subsidiary of the California Association of Realtors and a provider of real estate products and services to practitioners in California.
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