The right transaction management software will make all the difference in how well and efficiently a new real estate company can handle its operations to scale. In an industry where the devil is in the details, having the right tools means one can rest assured that nothing falls through the cracks, from contracts and deadlines to client communications.
Being a new business is just the right time for implementing a solution that not only enhances workflow efficiency but also grows with your business. Given the challenges small teams face and with limited budgets, affordability, intuitiveness, and easy scalability are qualities that real estate transaction management software should possess.
The right real estate software will keep things organized, simplify compliance, and offer an easy process for managing real estate transactions.
This guide will examine some of the best transaction management solutions for new real estate companies. It will weigh the pros and cons and highlight unique key features to enable you to make an informed decision.
ListedKit: Tailored for New Real Estate Companies
ListedKit is custom-built real estate transaction management software to fit the needs of new and growing real estate companies. Equipped with an intuitive interface and a user-friendly design, this platform makes transaction coordination simpler and, therefore, easier for small teams on limited resources.
One of the key features of ListedKit that stands out is its automation feature. It automates routine tasks related to tracking documents, compliance reviews, and deadlines for real estate coordinators or agents so they can save more time for their clients.
The software’s smart fields and task automation reduce much of the workload, allowing new real estate businesses to facilitate multiple deals without feeling overwhelmed. Similarly, the ability to customize document and task templates ensures a line-of-sight workflow at each transaction, which helps, especially where internal processes are still in the development stage.
ListedKit is highly scalable, making it an excellent choice for long-term use in growing companies. It provides budget-friendly pricing plans and supports unlimited users and transactions, so your cost remains predictable while your business grows.
Pros:
- A user-friendly interface with a learning curve near zero is great for new teams starting out.
- Customizable templates and smart fields that adapt to the particular workflow.
- Affordable pricing, making it accessible for startups and small businesses.
- Fantastic customer service, personalized onboarding, and setup.
Cons:
- It may lack advanced features that are common in team management where high-volume transaction processing is involved.
- It provides very few integrations with third-party tools, and this will have an impact on teams that use a wider real estate software ecosystem.
Pricing
ListedKit has a competitive pricing plan, which costs at least $49 a month. The major plan, the Pro Plan, includes unlimited users and transactions, an AI-powered contract reader, document storage, automation of email, a client portal, and more. This platform further integrates with Gmail to offer compliance reviews in ensuring real estate transactions stay on course. In addition, new users enjoy free account setup and personalized support.
Set Up Your Processes to Scale With Real Estate Transaction Management
TC Docs: Simple and Affordable for New Teams
TC Docs is a real estate transaction management software designed for simplicity, making it a great choice for new real estate companies or small teams looking for an easy-to-use platform.
The software focuses on essential features like task management, document storage, and deadline tracking, which helps teams stay organized without needing extensive training. Its straightforward design ensures that even those new to digital transaction management can quickly adapt.
What sets TC Docs apart is its affordability and flexible pricing plans, which cater to teams of different sizes. Although it may lack advanced features like extensive reporting or complex integrations, it’s perfect for new companies that prioritize simplicity and efficiency over feature-rich platforms.
Pros:
- User-friendly interface that’s easy to navigate for beginners.
- Cost-effective solution with flexible pricing for startups.
- Essential features like task management and document tracking.
Cons:
- Limited advanced features for scaling businesses.
- Fewer integration options compared to more expensive platforms.
Pricing
TC Docs offers several pricing options to suit different business needs. For single users, the plan starts at $59 per month, which includes unlimited transactions, full suite access, upgrades, live support, and access to their user group. Teams with 2 to 10 logins can opt for a plan starting at $69 per month per team, offering the same features.
Larger enterprises with 11+ users can contact TC Docs directly for customized pricing. All plans come with a 14-day free trial, allowing new users to explore the platform without any upfront commitment.
Dotloop: Compliance and E-Signatures in One
Dotloop is one of the most robust real estate transaction management software. Its core focus is on brokerage compliance and document management.
The e-signature function has been built into Dotloop. This means you don’t need another tool to send contracts over for signature.
Automatic compliance workflows and audit trails in Dotloop are quite valuable in cases where multiple transactions are involved. This is especially true for real estate brokers or teams working in highly legally scrutinized environments.
It easily integrates with the MLS platforms for the real-time syncing of data and access to vital documents. Since Dotloop’s rich-feature platform may have a greater learning curve, particularly for those teams not accustomed to digital transaction management systems, it might take more time in onboarding.
Pros:
- Great tracking of compliance, oversight of documents, and suitability for teams with work that requires high legal compliance.
- In-built e-signature functionality allows for the smooth signing of contracts without resorting to additional software.
- Strong integration with MLS systems for real-time data synching and document sharing.
Cons:
- Larger learning curve for teams not yet exposed to transaction management software.
- It can be more expensive than more basic platforms, which can be an issue for smaller companies.
Pricing
Dotloop has a pricing plan that starts at $31.99 per month for individual agents. This will include unlimited transactions with an in-depth document editor, secure e-signatures, and integrations with the MLS feeds.
For larger teams and brokerages that require automated workflows in compliance, charts, and reporting, and even features like custom branding, Dotloop provides customized pricing based on particular needs. This makes the plans suitable for larger operations and multi-office compliance.
Paperless Pipeline: Affordable and Simple
Paperless Pipeline is a lightweight, affordable real estate transaction management software designed for small teams and new real estate agencies that handle a lower volume of real estate transactions.
Its simplicity makes it an appealing option for startups that need to get up and running quickly without the complexity of larger, more feature-rich platforms. With Paperless Pipeline, new users can be onboarded with minimal setup time, and the platform’s straightforward interface ensures that users can begin managing real estate deals without a steep learning curve.
While the tool is excellent for teams that need a basic solution to manage their documents and transactions, it lacks advanced reporting and automation capabilities. This might be a drawback for businesses that anticipate rapid growth or need more robust key features as their transaction volume increases.
Pros:
- Very affordable pricing, making it ideal for startups and small teams.
- Simple, easy-to-navigate interface with minimal setup time.
- No annual contracts and users can change plans as needed, offering flexibility.
Cons:
- Limited reporting and automation features could hinder growing companies.
- It may not scale well as transaction volume increases or business operations become more complex.
Pricing
Paperless Pipeline offers unique, flexible pricing based on the number of transactions per month. Plans start at $60 per month for up to 5 transactions and scale up to $460 for 250 transactions. All plans include unlimited users, storage, and locations without setup fees or long-term contracts.
Users also benefit from free account setup and admin training, making it a cost-effective solution for companies focused on affordability and ease of use.
Brokermint: All-in-One Solution with Accounting
Brokermint is an all-in-one real estate transaction management software created for real estate professionals who seek an overall tool to manage not just transaction coordination but also accounting, commission tracking, and compliance. It has a strong set of key features that will help new real estate companies combine multiple back-office functions into one seamless solution.
One strong point of Brokermint is the ability to automate complex tasks such as commission splits, agent billing, and next-day ACH payments. But perhaps what could make it really something special is when teams need to manage finances in concert with transaction coordination. With open, customizable workflows, businesses can compose the platform in their unique processes that allow new companies flexibility as they establish their internal systems.
Of course, this does not come cheap: Brokermint’s features are way more robust and naturally more expensive than most options. This may become a drawback to smaller teams or ones on very slim budgets.
However, added functionality such as real-time reporting and agent management makes for a good choice when dealing with growing teams that do, in fact, need more advanced functionality.
Pros:
- A fully-fledged platform that combines transaction management with accounting and commission tracking under one roof.
- Workflows that can be tailored and changed to suit various business processes.
- Strong reporting features, including real-time data, which is ideal for growing teams.
Cons:
- Higher pricing is not suitable for a startup or a small team with a limited budget.
- Complex setup and customization processes might require more time and expense.
Pricing
You have to book a demo first before you know the Brokermint pricing, but generally, its plans start at $99 per month. Its Standard plan includes MLS integration, QuickBooks integration, transaction management, eSignature, and commission automation. Features for accounting, agent billing, and CRM integration are added to the Professional plan for teams needing more advanced features.
Final Thoughts
Remember to consider affordability, ease of use, and scalability when picking the best real estate transaction management software for your new real estate company. Here’s a quick recap of the platforms we discussed:
- ListedKit: Affordable and easy to use with automation features, ideal for small teams looking to scale as they grow.
- TC Docs: A straightforward and budget-friendly option, perfect for startups that need essential real estate transaction management without complex features.
- Dotloop: Strong compliance and e-signature features, great for legal oversight, but with a steeper learning curve and higher price.
- Paperless Pipeline: A simple, low-cost tool for teams managing fewer transactions, though it lacks advanced reporting and may not scale as your business grows.
- Brokermint: A comprehensive, feature-rich platform with transaction management, accounting, and commission tracking, but it may be too complex and costly for smaller teams.
Ready to streamline your real estate transactions? Try ListedKit for an affordable, scalable solution that fits with new real estate businesses!
