Real Estate

Real Estate Transaction Management Software

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Last updated on March 10th, 2019 at 09:56 am

Best-Transaction-Management-SoftwareEach year real estate companies across the industry move closer to ditching the paper trail office for a digital office.

Leading the way are software packages for real estate transactions management, Dotloop, DocuSign, and SkySlope.

These programs help companies move to paperless offices with E-signatures, custom documents, reviews for compliance, and secure storage for documents.

The software features come in functional packages both easy to understand and use. This article compares three top leaders in the industry based on software functions, how easy to use, starting prices, and other features.

Dootloop: Our #1 Choice for Real Estate Transaction Management Software

Dotloop makes our best recommendation list because of its attractive price, friendly and easy to use interface, and the large selection of strong user options.

These robust features include collaboration options, oversight for brokers, and approval for the deal’s lifetime.

DotloopDocuSignSkySlope – Comparisons

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Dotloop Real Estate Transaction Management Software

On our top choice list for real estate transaction management software, coming in first is Dotloop  with their features and generous pricing plan.

Its pricing makes it an affordable choice starting with their business plan at $19 each month for each user and a maximum of ten end users at that rate. Anything over ten agents and up to one hundred is $299 each month.

Besides their great pricing scale, DotLoop weighs in at number one because they lead the real estate management software industry with the strongest features. They offer everything small businesses need in a real estate software package.

Leader of the Industry

Dotloop maintains a lead with electronic signatures numbering over 25-million in twelve months. Owned by Zillow, this company has backing by a top name in technology for real estate management.

Your partners and clients know and trust the Zillow name, and with the support of this major player, Dotloop has a continuous stream of new features. With this growth rate and big-name backing, we see this software getting better each year.

Top Notch Features

After reviewing the different software packages, we found Dotloop more flexible and boasting more powerful features than any others. These powerhouse features include:

  • A Broker Dashboard – Brokers watch each deal’s progression with a quick glance and customer reviews of workflows. Brokers set custom rules for their agents, like paperwork completion and submission requirements before submitting the deal. Brokers create agent and staff reminders for overdue paperwork or deal action points.
  • Customize Workflows – Brokers and users can create unlimited checklists for review and workflows, both simple and complex, for most scenarios. This includes setting up alerts for accepted offers or other conditions.
  • Version – Now Technology – This patented technology lets Dotloop users see all views, signatures, or clicks. Users have access to earlier versions of documents for quick and easy counter offer submissions.

Additional Options with DocuSign and SkySlope

ecommerce-toolsFor E-Signing options, realtors show a preference for using DocuSign but use Dotloop and SkySlope for managing documents and other office functions.

DocuSign released their version of document management features known as Transaction Rooms.

This new document management software function helps them compete with their competition.

Keeping pace with the competition, SkySlope is regularly adding features to their management software program.

They offer customized builds, making the interface in SkySlope preferred over Dotloop’s interface. We haven’t tested the new SkySlope, and our information comes from user information and the SkySlope website.

Try it Out First

If you’re unsure about putting the money out for a transaction management program or if it suits your business needs, Keller Williams and other large brokerages give their agents Dotloop. NAR gives discount accounts with DocuSign to their members.

Before you buy a digital platform, check with the realtor association in your area to see if they give discounts for office management software programs.

Digging Deeper into Dotloop, DocuSign, and SkySlope

Free Trials and the Cost

Dotloop

This software comes as a premium service for the individual realtor, starting at $29 a month.

The plan offers the basics without live user training and includes a dashboard for brokers and customized branding. Step up the plan and add a maximum of twenty users for $199 each month or one hundred users for $299 each month.

Their Business Plan includes the broker’s dashboard, two review, and compliance workflows, with live admin and agent training.

The Business Plan+ starts at $540 each month and includes unlimited review and compliance workflows, customized branding, Dotloop’s API for integration with CRM and accounting systems.

All three plans require 12-month contracts, and Dotloop lets you test the program with their trial offer at no cost.

DocuSign

docusign_logo_3cAt the low end of the scale is the DocuSign Realtor Edition which costs $204 each year and only includes the basic E-Signature.

For larger companies, DocuSign offers its Transactions Rooms management package, formerly called Cartavi, for a monthly fee of $30 for each agent.

All DocuSign plans have a 12-month minimum contract. DocuSign has a free 30-day trial period to test before you buy.

SkySlope

SkySlopeWith SkySlope’s all-inclusive package, you get every feature no matter what subscription level you choose.

Pricing is on a sliding scale, with ten users for $25 each month. Companies with over 50 end users pay $7.25 to $10.25 for each end user monthly. All levels require, at the minimum, a 12-month agreement. SkySlope doesn’t offer free trial periods.

Minimum Length of Contract

Dotloop12-month minimum agreement with possible negotiation for larger teams.

DocuSign – 12-month minimum agreement with possible negotiation for larger teams.

SkySlope – 12-month minimum agreement with possible negotiation for larger teams.

Setup and Usability

All three software platforms have intuitive usability making it easy to create templates, upload documents, gather E-signatures, and document review.

Included is support staff trained for customization needs and setup and end user advice to get your firm up and running. Most customers report workflow and interface are easy to use and learn with intuitive features.

Dotloop

A Software as a Service platform or SAAS, Dotloop is useable straight out of the box, with no application installation.

Add templates, set up workflows, and integrate your MLS data and you have a software platform ready to handle whatever you throw at it. The program is intuitive, and the addition of templates and workflows is quick and easy.

DocuSign

docusign_logo_3cDocuSign is a SAAS system like Dotloop, with no installation. Running the application takes a modern version web browser with internet access.

Like its competitor, DocuSign has easy to set up workflows and templates and an intuitive interface.

SkySlope

SkySlopeAs we mentioned earlier, we don’t have a working copy of SkySlope, and our information comes from users and their website. Users tell us SkySlope has an easy setup, and the interface gets high marks for this.

e-signaturesE-signature Comparison

DocuSign entered the market with E-signature capabilities before Dotloop or SkySlope, and all three have almost identical signing capabilities.

Users find the E-signature feature an easy use application on all three platforms, but a few prefer the DocuSign program over the more robust Dotloop and SkySlope.

Dotloop

This software is responsive and an easy and intuitive platform.

DocuSign

This software is responsive and an easy and intuitive platform.

SkySlope

Without testing SkySlope’s platform, we rely on user opinions of the E-signature functionality. Users tell us the platform is easy, intuitive, and responsive.

Collaboration Fields

Collaboration fields let several users work on a single text field more than once. The collaboration fields allow user negotiations on terms in a single document. Apart from DocuSign, all three platforms offer some collaboration fields.

Versionow, Dotloop’s specialized technology, goes a step further in collaboration by letting users access earlier document versions which simplify the compliance and counteroffer reviews.

Dotloop

Through the Versionow specialized technology, Dotloop users can access earlier document versions throughout a transaction process. Document access simplifies the process for compliance and counteroffer reviews.

docusign_logo_3cDocuSign

The only platform of the three that doesn’t have collaboration fields.

SkySlope

SkySlopeThis platform has collaboration fields, but we don’t know how easy the fields are to use since we haven’t tested the software.

Sharing Templates

All companies enjoy a streamlined paper flow generated by making and sharing document templates. Document templates give deal flow consistency through the firm.

Agents complete entire deals starting with the disclosure statement to ending with the closing forms, leaving a digital trail instead of paper.

Dotloop

We found the process of creating templates and sharing them both intuitive and easy.

DocuSign

Like Dotloop, we found creating templates and sharing them both intuitive and easy.

SkySlope

This platform offers template creation and sharing capabilities, but we do not know how intuitive or how easy use is.

Customizing Paperwork and Creating Task Checklists

All brokers and agents need to track document flow, missing file pieces, and lists of completed tasks and tasks still needing completion.

These items help brokers create complicated reviews and approve workflows. All three platforms offer creation and editing of customized checklists.

Dotloop

This platform offers customizable task and paperwork checklists in a process that is both intuitive and easy for end users.

DocuSign

docusign_logo_3cLike Dotloop, DocuSign lets users create a customized task and paperwork checklists.

SkySlope

SkySlopeSkySlope has the same task and paperwork checklists as its two competitors, but we have not put these functions to the test.

Broker Compliance Workflow and Status

Brokers and their compliance officers review the work of agents through workflows. They set approval guidelines following their desired criteria.

An example of this is setting a task requiring the agent’s paperwork before they can submit the final sales deal. The approval guidelines let brokers deny the complete deal for one error, such as a disclosure mistake until the agent fixes the issue.

Once they correct the issue, agents resubmit their deal for broker approval. All three of the real estate programs offer platforms with sophisticated and intuitive workflows and status checklists.

Dotloop

Dotloop lets compliance personnel and brokers create compliance workflows and status tasks and checklists.

DocuSign

Like Dotloop, compliance personnel and brokers create compliance workflows and status tasks and checklists.

SkySlope

SkySlope offers personnel and brokers the same ability to create compliance workflows and status tasks and checklists, but we have not put these functions to the test.

audit_trail1Availability of Audit Trails

Detailed view, edit and signature records on documents for real estate transaction are known as audit trails.

These types of auditing trails show if the deals meet all federal and state law compliances.

All three platforms use audit trails for keeping track of all people viewing, editing, and signing documents.

Dotloop

Dotloop gives compliance employees and brokers, access to comprehensive audit trails.

DocuSign

docusign_logo_3cLike Dotloop, compliance personnel and brokers have access to comprehensive audit trails.

SkySlope

SkySlopeSkySlope offers personnel and brokers the same ability to access comprehensive audit trails, but we have not put these functions to the test.

Text and Email Tracking

A useful function for real estate management is the ability to store email and text conversations alongside other deal forms.

SkySlope is the only one of the three management programs to offer direct text and email tracking. But users report saving text and emails in the Dotloop and DocuSign programs is an easy process.

Dotloop

Doesn’t offer text and email tracking functions.

DocuSign

Doesn’t offer text and email tracking functions.

SkySlope

The only one of the three management programs to offer text and email tracking functions.

Zipform Software Integration

Zipform, the proprietary software for filling out forms, has a partnership with both DocuSign management software and SkySlope.

While there’s no partnership with Dotloop, all three platforms offer an equal or superior ability for creating and customizing documents over the Zipform platform.

Dotloop

Dotloop’s owner, Zillow, known for its legal problems with the owner of Zipform, NAR, is perhaps the reason there’s no integration.

With the form filling software, and no plans to add it. But because of Dotloop’s custom template creation, Zipform is not a necessary option.

DocuSign

docusign_logo_3cDocuSign offers integration with Zipform software. While maybe it’s an unnecessary function.

Zipform integration works well for real estate firms less technically experienced, or those already using the Zipform software.

SkySlopeSkySlope

SkySlope has full integration with the Zipform software platform.

MLS Data Integration

All three management platforms offer seamless MLS integration. Each program can auto-complete the MLS listing details into the agent’s paperwork by the agent inputting the property address.

Dotloop

Easy and quick MLS data integration.

DocuSign

Easy and quick MLS data integration.

SkySlope

Easy and quick MLS data integration.

Customer Support

End users report excellent customer and training support service with Dotloop and DocuSign. The sales representatives for all Dotloop and DocuSign are a testament to the quality of the provider’s customer support service.

We consider the representatives for both companies, very knowledgeable about the product, friendly, and helpful. Unfortunately, we have no information about the customer support and service for the SkySlope system.

Dotloop

This company has terrific customer support through their sales department. The representatives are very friendly and go out of their way to help.

DocuSign

docusign_logo_3cLike Dotloop, DocuSign delivers a great customer support experience through all departments. The reps are professional, friendly, and helpful.

SkySlope

SkySlopeSince we could not review the product, we are unable to give you any information about the level of customer support SkySlope offers.

Real Estate Transaction Management Software: Final Review

Perhaps one of the last industries to move to a completely digital office environment, real estate management firms are learning about the power of paperless platforms.

In comparing the three software programs, DotLoop leads the way as top performing real estate management program for its features and price.

With the fierce competition among these programs, we expect frequent changes in features, functions, and pricing.

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