Real Estate Forums

San Diego Real Estate · 12-16-2007, 08:52 AM

Has anyone used Relay or any other web based TC type Platform? The Real Estate Transaction Management tool...

I know like a lot of Real Estate Brokers as well as Mortgage Brokers are always looking to streamline and make information more available on a 24/7 basis to their offices and clients. With this type of functionality and or features such as built in alarms or reminders for deadlines etc. I can truly see the benefits!

The local TC we currently use is running on the SureClose Platform and its ok. However, I still see a lot of room for improvement.

If you have had any experience with these Real Estate Management Software's or Platforms please post your experiences here...

nholma · 12-24-2007, 08:00 AM

I have I am using Relay, early use is lacking integration with other tools especially esigning. Zip forms esign is needed to complete the entire end to end transaction electronically.

The reality is that all solutions have room for improvement. I am backing larger scale organisations as they have the capital to invest and make the product into something better. Relay was my choice.

I will watch with interest how these products evolve to the benefit of us and our customers.

San Diego Real Estate · 03-15-2008, 09:02 AM

nholma...

Any news to share on Relay as far as their system improvements?

The local San Diego Board sure is pushing us to use them for TC Management!

Anyone else have any input please chime in as well!

nholma · 03-19-2008, 08:38 AM

This is interesting various boards are taking different approaches eg AZ where i am, is looking at alternatives. So far the usage of relay is small and I really feel like I am at the front of a wave trying be innovative, but "Large Scale USE" is NOT the reality.

If these TM tools truely live upto their claims of driving efficiencies, managing risk (Compliance) and inturn improve service to customers, then there is going to be a future (Which I strongly support and believe), but wide scale adoption is not the current state and at a time when income is down, and overheads are being looked at, the "Value Proposition" is key and is sensitive.

Relay has recently improved it's post sale support with documents, manuals etc and there are various webinars being held. But i get the sence that their ability to do more is compromised when revenue is down all round.

TM in real estate I think is going to be years in the making. I am still of the opinion of going with a product that has a larger capital engine behind it for long term viability.

Thanks

Nathan Holman
REALTOR - Team Lead Holman and Holman.
Realty USA Southwest

rjones · 06-19-2008, 07:35 AM

I've had the opportunity to take the basic and advanced traning webinars on RELAY. I really like what I've seen. Although, as Nathan said, unless you pay for the esign capability the entire transaction cannot be done electronically, it does save a lot of time for folks. I work with some agents who have out of state clients...this is a wonderful solution for them. Faxing/emailing documents....forms....updated forms....re-updated forms....etc. back and forth can be time-consuming, and increases the opportunity for errors. Using RELAY, your clients can log in to see the correct forms and you can even share certain documents with your lender or title company. It seems a lot more secure also, then sending a confidential document via fax. Also, it really helps you work with a Virtual Assistant as a Transaction Coordinator. She can take care of keeping everything updated for you and you look like a super agent to your clients!

However, having said that, if you are currently using a contact management program like Top Producer you already have a simplified way of transaction coordination. While Top Producer doesn't have all the bells and whistles that RELAY has, you can keep on top of your transactions and make sure you have all your i's dotted and t's crossed. Again, your VA can be a huge help in this area!

Just my thoughts as a VA....

Rebekah Jones

nholma · 06-19-2008, 08:22 AM

As an update on this thread compliance is increasing as a costly and timely burden on us REALTORS. 5 Years all files have to be maintained and managed so from a transaction management point of view these systems also have a way to help file efficiently by faxing to the system inbox and based on the header that you create it automatically files the paperwork into the correct sections. What's more it is off site so does serve as a great archive feature as well that is secure and away from possible data loss risk.

AZ state has moved to Sureclose a competing platform I know Relay was evaluated as well. Sureclose is receiving greater traction from what i am hearing, generally and certainly in AZ as the local and state associations are including the subscription for all brokers as part of annual dues.

Personally I think I will be making the switch, so take a look at what your state association is doing in the area of TM before you buy, not only because there could be discounts for you but a direction for state wide standardization may be set. Standardisation is important within state as these systems are not interoperable and compatible with each other.