Simplifying Real Estate Agent Onboarding with Dotloop
dotloop
November 04, 2019 | comments
Increase the Speed, Accuracy and Efficiency of Your Agent Onboarding Process
Is your association or brokerage still filling out new agent forms manually?
If so, consider emulating some of the largest associations and brokerages who use dotloop to onboard new agents.
“The paperwork required to process new agents is huge,” says Toni Parker, dotloop’s director of MLS & Industry Development. “Dotloop helps streamline the agent onboarding process, eliminating the need to manually fill out forms by hand or physically pick up packets at the office. All the paperwork can be filled out online with greater speed and accuracy all via one streamlined loop in the dotloop transaction management system.”
Simplifying the Association Onboarding Process
Consider Miami Association of REALTORS, the largest association in the country, which processes about 100 new agents every month, or even a medium-sized association that processes 10 to 20 agents a month. With historical large dropout rates, agent turnover makes onboarding more than a full-time job.
Most associations have MLS vendors that provide an Association Management System (AMS) to help process the new agent onboarding paperwork; however, someone still needs to process those new applications.
Less ideal, those brokerages that don’t have access to an AMS must manually enter the data directly into the National REALTOR Database System (NRDS), the national database that tracks all association members.
In all cases, new agents must provide proof that they have joined a brokerage and possess a real estate license before filling out an application to join an association. Once the agent joins an association, he or she must attend an orientation or ethics class and visit the MLS association within 60 days or lose their REALTOR membership.
Dotloop Streamlines the Agent Onboarding Process
Dotloop’s transaction management system provides the perfect solution for onboarding new agents into associations by providing brokerages with a front-end system that manages all the paperwork in one streamlined, well-organized loop. With more than 180 relationships with associations and MLS vendors nationwide, dotloop connects agents and associations directly with the MLS. New agents can simply fill out their forms in dotloop, which the association can approve and send over to the NRDS with a few clicks.
“It will be as simple as the association connecting to our API, which enables them to easily grab the information directly from the system,” says Parker.
Here are a few of the main benefits dotloop offers both agents and associations in the onboarding process:
Agents Onboard With a Familiar System
Many agents’ “first touch” with real estate tech is through dotloop, so they’re more familiar with the technology in which they’re entering their new agent information.
Faster, Easier, More Efficient Processing
Most agents and associations are now filling out these forms manually because there’s no other way to fill out the forms online and transfer to the MLS. Dotloop fully streamlines and automates the process, eliminating the need for manual data entry and transcribing handwritten forms.
Dotloop’s Open API Makes Data Capture Effortless
With dotloop’s API, associations can push the data into their system and send directly to NRDS with one or two clicks.
Simplifying the Brokerage Onboarding Process
Brokerages too can leverage the dotloop platform to help manage new agent paperwork while presenting a tech-forward first impression. Here are five ways brokers are using dotloop to ease the onboarding process.
1. Provide an Easy, Step-by-Step Process
Dotloop offers an effortless tool to onboard new agents by providing step-by-step guidance with tasks that can be checked off as the onboarding process progresses. Prompts guide the new user through the account creation, and brokers and team leaders can easily add or remove member profiles.
2. Create an Online HR Admin
The Tasks view within the platform manages all the documents new agents need to fill out and sign before they begin work, including 1099s, non-disclosure agreements and basic personal information. Even better, brokers and admins can load these lists from preset templates.
Dotloop can also help enhance the interviewing process by providing brokers with a tool that uploads photographs of each interviewee and their resumes to help better manage a panel of candidates.
3. Increase Tech Adoption Rates
By giving new agents an end-to-end transaction management tool like dotloop on Day One, they’ll instantly experience the efficiency and time savings on a system that will feel more familiar to them as they open loops and start transacting. The sooner agents begin to use the platform, there’s a greater chance brokers will see tech adoption rates rise.
4. Offer Mobile-first Onboarding
Dotloop’s responsive mobile platform enables your agents to complete their paperwork wherever they are. New hires can eSign, submit and store all the onboarding documents from their phone or tablet.
5. Simplify Storage of Onboarding Documents
Dotloop allows agents and admins to quickly find contracts, agreements and tax forms with no need to hunt through file cabinets or hard drives.
In real estate, time is definitely money and dotloop can help associations and brokerages save both by streamlining the agent onboarding process.
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.
