Webinar Recording: Simplifying Compliance | Dotloop

Webinar Recording | How to Simplify Compliance with dotloop



July 12, 2018 | comments

Automate and Streamline the Real Estate Compliance Process

Top 3 dotloop Features/Benefits for Streamlining Compliance

1. Automated Workflows

This is probably the most popular feature/benefit for admins and transaction coordinators, but it is also the hardest to explain, so we’re going to use a real-life example:

Let’s say your agent just closed a deal (listing) and is ready to submit the paperwork to you for review. As soon as that agent presses the “submit” button, dotloop will do the following:

1. Check what type of transaction it is – in this case, a listing.
2. Based on this type of transaction, dotloop will notify the admin who is in charge of reviewing listing paperwork via email and push notifications.
3. Admin goes through the review process and can either approve it or return it to the agent with a single click.
4. When approved, dotloop knows that the managing brokers still have to sign off on it (additional reviewing stage) and will now notify the broker in the same manner.
5. Once the broker signs off the agent will instantly get notified that the paperwork has gone through all of the necessary approval layers.

automated workflow

These automated workflows are created and customized around your existing processes! All designed to eliminate the back-and-forth between agents and admins.

2. Transaction Templates

This is a simple concept that has tremendously helped brokerages and teams to standardize transactions and empowered agents to create contracts on the kitchen table in a matter of minutes.

As an admin or transaction coordinator, you can set up transaction templates for listings, offers, onboarding, you name it! In these templates you can:

• Add all necessary documents needed for the type of transaction.
• Add placeholders for documents added later on – pre-approval letters, earnest money checks, etc.
• Have required documents that need to be completed/signed before submitting for review.
• Include any people that need to be part of the deal from the beginning.
• Auto-populate to-do lists for the agent and anyone involved. This is particularly handy with new agents.

Aside from the robust customization, transaction templates simplify compliance with standardization that minimizes human error. By having all agents complete transactions in the same way, admins can shift their focus back on business growth.

3. Audit-Ready Platform

Audits will happen and you need to be ready. Dotloop knows this so we’ve added tools and features to give you a piece of mind:

• Real-time activity logs: Easily track every action taken – viewing, editing, signing of docs, when items got shared, people joining transactions, etc.
• Easy access to your audit history: In the case of an audit, you can easily access all the necessary records and data you need hassle-free.
• Securely store records: dotloop will securely store all your records based on the state’s requirements.

tracking real estate transactions

Did you know you can tag and track lead sources with dotloop?

With dotloop Business+ and dotloop for Teams you can easily tag transactions with the lead source to create reports that tell you which channels are generating quality leads.

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