January 05 2017
Tens of thousands of real estate agents have embraced the digitization of the real estate transaction by going paperless. By integrating transaction management software into their daily business routine - such as Form Simplicity from Florida Realtors® - it's saved them and their clients time and frustration, as many of the most tedious and cumbersome tasks for a real estate transaction have been streamlined.
Agents going paperless have also given brokers greater visibility into their business: Brokers can track and view productivity, examine work flow processes and see the status of every transaction in real time. But there is an even bigger opportunity for brokers today: going paperless themselves.
Late last year, Form Simplicity made it easier for real estate management to become "Paperless Brokers" when Form Simplicity added Broker Transaction Management to its cloud-based platform. The big value for brokers: it makes a big piece of mandatory compliance requirements paperless.
The biggest news for brokers whose agents use Form Simplicity? There's no additional cost for its Broker Transaction Management features. Absolutely nothing. Form Simplicity users are used to seeing robust features like these being included at no extra charge because they know that Form Simplicity is the transaction management software created by Realtors® for Realtors and is owned by the second-largest state Realtor association in America.
Mandated compliance requirements are often the bane of brokers, even though it's typically the broker's responsibility and regulators can hold brokers strictly accountable for maintaining proper compliance. Having to face a compliance audit is time consuming and can be disruptive. Brokers can minimize their risk by becoming a paperless broker. Gaining the ability to automatically track and digitally document each transaction not only gives the paperless broker peace of mind, but also makes the compliance portion of their job so much easier.
Every state has specific requirements for disclosures and contracts. Complicating the compliance process for brokers is that every real estate transaction can have its own unique array of required documentation. That's why paperless brokers love a transaction management program like Form Simplicity, which includes the ability to create as many custom checklists as they need. This safeguard makes sure that every transaction is closed with the necessary documentation. This single feature is an important way for brokers to make certain that they are fully compliant.
Paperless compliance in Form Simplicity can be a simple four-step process. To visualize how easy the process can be, here's a look at the process that Form Simplicity offers, which is available in both the Professional and Ultimate Editions:
Here's what the heart of this process looks like inside Form Simplicity:
When an agent submits their transaction for Broker review, the Broker receives an email notification. The broker then logs in to Form Simplicity and using the Broker View, they:
This broker management tool is available for the broker on record for the office, as well as someone with Broker Authority permission in Form Simplicity.
Form Simplicity's Broker Management tools are packed with features that help brokers to minimize risks and simplify compliance. It takes many of the most time-consuming tasks a broker once had to do manually to remain compliant into a process that requires simply pointing-and-clicking to avoid the perils of an audit. Becoming a "Paperless Broker" means brokers get a digital footprint of each transaction. In the end, being paperless means taking the worry out of a compliance audit, and that gives brokers more time to help their agents grow their business.