RealSource - 2007 Dell/NFIB Small Business Excellence Award Finalist
Employing technology to streamline the arduous contract-to-close process
The glitz and glam image of real estate involves relationship building and deal making. But the agents spend much of their time behind-the-scenes involved with arduous processes. This laundry list of less seductive tasks-a series of moving parts and pieces-requires effective and efficient task coordination, a responsibility that many agents shun.
In any given real estate transaction, the agent faces a number of challenges: arranging for various service providers to insure the title, surveying the land, appraisal of the property and, often times, conducting extensive inspections. And prior to closing, the agent traditionally needs to obtain municipal assessment letters and proof of insurance. The process is often time-consuming, forcing the agent (sometimes unenthusiastically) into the role of project manager.
Two years ago, RealSource (www.YourRealSource.com) was launched, with the mission to simplify the contract-to-close process. And thanks to the team's innovative use of information technology, finding a buyer has become synonymous with closing a real estate deal.
RealSource recognized the growing demand for a task management service and teamed up with a third party vendor to build a Web-based database that automatically tracks orders on Dell OptiPlexTM desktops. The software, RealSource CentralTM , coordinates and monitors the tasks necessary to move a real estate deal from contract to close. RealSource uses this software to provide a unique service to realtors, lenders, and developers.
"Not everyone has a personal assistant to help them complete the necessary steps to closing the deal, and those who do have a difficult time keeping the position filled," explains Doris Phillips, president of RealSource. "It's not an easy job for one person to do. There is a lot of coordination that needs to take place."
The implementation of RealSource Central has streamlined these processes, reaping tremendous customer service benefits for all clients. Clients, as well as others involved in the transaction, are provided with updates on the status of all services associated with each order. Agents are also informed of inspection dates, appraisal prices, and survey dates.
To further increase efficiency, RealSource also uses dual flat panel monitors from Dell - incoming orders are processed on one screen, while electronic documents are displayed on another. Using Dell technology, customer orders are easily accessible to all employees, alerting the RealSource team to the various projects and deadlines.
RealSource has cultivated a relationship with service providers, including title insurers, appraisers, home inspectors, and attorneys. Clients can select services from these trusted service providers, further speeding up the contract-to-close process, while ensuring that only the in the field complete the job.
"Through innovative technology, task coordination is now done efficiently at a lower cost," said Phillips. "The system has freed agents up to do what they do best - sell real estate."
The word about RealSource Central has spread. RealSource's efficiency in task coordination has created such a valued asset that the company continually receives new business requests, often referred by satisfied clients.
"Through the use of Dell technology, we take customer service to a new level and can provide a high tech, high touch experience," said Phillips.