Cloud Platform Implementation Allows a Real Estate Transaction Management Firm to Automate Processes and Improve Efficiency

Business Need

Given the pace of the real estate industry, the client was facing challenges in streamlining the transaction management process and adopting best practices to improve the speed and accuracy of real estate transaction management and co-ordination.

The client was looking for a platform that could help them manage end-to-end real estate transactions with agents, brokers, buyers, sellers, and third parties, and eliminate manual email processes. They required high accuracy in reviewing documents automatically and wanted the platform to efficiently manage the required business process of transaction co-ordination for different counties and different authorities – not just to increase number of transactions per month but also improve staff productivity.

Prior to engaging with Synoptek, the client maintained its own staff to support the transaction co-ordination services. However, in a bid to implement an online platform that could automate manual processes, the client approached Synoptek as their preferred Managed Services Partner for developing a self-service platform. They wanted Synoptek to build a platform that could facilitate automating their business processes.

Solution and Approach

As part of Synoptek’s solution, we carried out a thorough assessment of the client’s existing processes, identified challenges and bottlenecks and designed a customized transaction management platform to automate tasks and improve broker efficiency.

The transaction management/co-ordination platform was built using .Net MVC, SQL Server 2017, Entity Framework, LINQ, XML, and JSON. We deployed the platform on Azure VM cloud technology to streamline and automate important real estate paper work. The portal enables transaction coordinators, agents, brokers, buyers and sellers to come together and reduce the time taken to carry out transactions.

Using modern tools such as Abby FlexiCapture, zipForm API, APN API, iTextSharp, and Stripe, we developed a range of features such as notification and workflow engines, checklists, character recognition, analytics, mobile responsive, and 3rd party integration.

The key capabilities of the automated platform include:

• Allow online registration for agents with payment for subscriptions through autodeduction in every payment cycle
• Facilitate creation of property listing and validate details without any delay
• Dual integration with zipForm Plus to facilitate agents with a one-stop solution. Seamless property validation with APN API integration
• Drive exceptional user experience through rich document verification with online document validator; this allows users to upload listing/offer documents and find missing fields and details immediately
• Eliminate manual efforts as uploaded documents are validated and sent out of signing automatically
• Automate workflows to notify sellers/buyers on uploaded documents/disclosures, so timely action can be initiated.
• Enable periodic reminders for important transaction dates on missing documents to enable a transparent and effective way to enforce best practices.
• Integrate the platform with DocuSign to automate the process of getting signatures from buyers/sellers – without any manual intervention or follow-up.

Business Results

Since the platform has been implemented, the client is able to achieve a number of business benefits:

• Drastic reduction in transaction processing time; transactions that used to take 10 hours of paperwork can now be completed in 20 minutes.
• Using the portal, employees are able to streamline mundane processes, reduce manual efforts, manage more work and meet deadlines with ease.
• Agents are able to minimize transaction costs, reduce errors and enhance buyer-seller communication.
• Brokers are able to improve execution through efficient, accurate, and timely transactions.

Synoptek’s platform implementation services has helped the client improve transaction efficiency and serve real estate clients better. Since most of their tasks are now automated, they can process far more transactions – with increased accuracy and efficiency.