Daily Real Estate News  |  October 6, 2009  |   Automated Transaction Systems Gain Users
More real estate professionals are adopting automated transaction management systems, according to a study by real estate consulting firm WAV Group Inc.

The study of more than 1,700 practitioners and 22 multiple listing services found that nearly one-third of practitioners have access to and have embraced a sophisticated system.

About 87 percent of practitioners reported having access to electronic forms, 81 percent had access to document-management applications, 77 percent had Internet faxes, 71 percent had transaction-management software, and 55 percent could utilize digital-signature software.

"As agents have gotten comfortable with online forms, which are well-established in most markets across the country, they have begun to see the value of not only initiating forms online, but also executing, storing and distributing them online as well via document management," the study said.

Besides lack of access to the systems, factors that inhibit further adoption include:

• Belief that the systems are cumbersome.
• Unclear benefits.
• Not enough transactions to keep real estate offices busy.
• Concern that systems reduce “high touch” services.

Source: Inman News (10/06/2009)