Born to be digital: Online transaction tools erode traditional sales

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I’ve mentioned a few times in this column and in other public areas that I believe MLSs are growing antiquated.

This is because the agent community is becoming more adept at building and leveraging other communication channels to share listing information.

I know many argue that the MLS helps dictate best practices on how properties are presented and dollars are exchanged. That’s a shallow argument.

A one-page “Terms & Conditions” agreement on the front end of any property exchange platform fixes that.

Plus, what about general personal accountability?

Practicing real estate is heavily predicated on securing confidentiality, respecting the role of colleagues and representing the best interests of buyers and sellers.

Would that foundation suddenly implode if a local board ceased to exist? I don’t think so.

A few tech updates in the real estate world this week highlight the burgeoning field of digital transaction products, pushing professionals into streamlined and modern forms of communication.

Indian startup Plabro soon to reach states

Apps like the India-based Plabro are providing brokers and agents faster channels through which to serve customers.

The app, available for iOS and Android (there’s also a web version), has 10,000 users in India and is ramping up services in the states. It empowers brokers to send needs and listings back and forth, called “shouts.”

The app will intuitively match a shout with any existing matches and encourages in-app discourse with an array of messaging tools. Plabro uses images, stats and a great user experience to hasten the rate at which buyers and sellers are provided market information.

Would that foundation suddenly implode if a local board ceased existence?

Broker Think Tank does very much the same thing.

More ingenuity is being poured into ways for listing information to be dispersed outside MLS walls. And the industry is learning to govern itself. This means big changes are on the horizon.

With modern real estate tech, documents are born digital

Real estate forms software program zipLogix and electronic signature services provider SIGNiX have decided to work more closely together (in addition to complicating how writing about tech contrasts with common grammar standards).

The two companies recently announced a three-year extension of their relationship.

As the press release explains, “independent E-Signatures power zipLogix Digital Ink, which is integrated within zipLogix’s digital transaction management software products, zipForm Plus, zipTMS and zipForm Mobile.”

Industry tech relationships like this will bolster the rate at which paper-based processes become less common.

The idea isn’t to reduce paper, however; it’s about bettering business processes. Fewer mistakes. Faster rates of processing. More secure data. And better long-term information tracking.

SIGNiX reports that it has already facilitated 100 million signatures because of its relationship with zipLogix. So the evidence is there.

The idea isn’t to reduce paper, it’s about bettering business processes.

All real estate documents are born digital until they’re materialized into paper, thus becoming a physical business burden to transport, protect and store.

Things grow even more cumbersome as fully executed document packages are scanned and emailed. This redundant process further exacerbates the risk of transaction mishaps. How many deals have been stalled because of a missed signature, poor fax quality or illegible handwriting?

What are your thoughts? Is the fully digital transaction something we’ll see every day soon, or are we years away?

And if so, for heaven’s sake, why?

Have a technology product you would like to discuss? Email Craig Rowe.