For transaction managers, manual contract intake is a persistent challenge. The process is riddled with inefficiencies, including repetitive data entry, cumbersome document verification, and time-consuming follow-ups.
These issues delay contract workflows and lead to increased risks of errors, impacting customer satisfaction and business outcomes.
Fortunately, ListedKit AI offers a revolutionary contract management solution that reduces contract intake time by a huge amount.
The Hidden Costs of Manual Intake
Manual management of contracts often involves tedious processes such as:
- Entering contract data into systems.
- Reviewing contractual agreements for completeness.
- Chasing internal teams or external parties for missing documents.
Take the case of James Rodgers Realty Group, a real estate team that previously relied on Google spreadsheets to manage up to 12 transactions and seven listings at a time.
Their Executive Assistant, Gabrielle Brown, described the workload as “extremely stressful and unmanageable,” with constant demands requiring her to work early mornings and late evenings.
The team’s lack of an organized system made it difficult to meet deadlines, especially for pre-listing tasks with no set timelines.
A similar situation can occur in a midsize brokerage managing 30 monthly transactions without a dedicated contract management tool. The administrative staff often juggles tasks such as coordinating closing schedules, tracking inspection reports, and ensuring timely appraisals.
With no centralized system, key deadlines can be missed. For instance, forgetting to schedule a home inspection within the agreed-upon timeline could delay the entire deal and risk client dissatisfaction.
Additionally, manual tracking of deadlines across multiple transactions increases the chance of duplication errors, such as mismatched client details in contracts.
The Numbers
Without tools to optimize workflows, real estate transaction managers may spend up to 40 hours per transaction on administrative tasks such as data entry, document verification, and follow-ups.
For teams handling multiple transactions simultaneously, this inefficiency can result in 7 to 19 hours wasted each week, or 400 to 1,000 hours annually, on repetitive and manual activities.
Risk of Errors
Manual intake amplifies the risk of errors in the contracting process:
- Missing documents. Such as unsigned service agreements or outdated pre-approved templates.
- Inaccuracies in data entry. Errors in legal documents can lead to a breach of contractual obligations.
- Oversights. Forgetting to track changes in complex contracts, which jeopardizes contract compliance.
For most TC managers and businesses, the lack of organization and cluttered task management led to frequent oversights. Non-urgent tasks often overshadow critical ones, making it easy to miss key deadlines.
Whether it’s a missed closing deadline or failing to update a buyer’s details in multiple systems, these mistakes can ripple through the transaction process, delaying deals and damaging client trust.
Impact on Business Operations
The inefficiencies in manual contract workflows extend beyond wasted time:
- Client dissatisfaction. Delays in the contracting process can frustrate clients who perceive the team as disorganized or unprofessional. For example, clients may feel their time is wasted if a home inspection or appraisal is scheduled late due to poor task tracking.
- Reduced scalability. When managing contracts manually, scaling up becomes increasingly difficult as transaction volumes grow. Teams often hit a bottleneck because they cannot hire enough staff to manage the rising workload effectively. For instance, a small brokerage handling 10 transactions monthly may struggle to double that volume without overwhelming its staff.
- Financial losses. Errors or delays caused by manual workflows can result in penalties, lost deals, or costly fixes. For example, missing a contract deadline might lead to legal penalties, while delays in closing could require price renegotiations or incur holding costs.
- Inconsistent service delivery. It can lead to uneven client experiences, with some clients receiving prompt and accurate service while others face delays or errors. If a transaction manager prioritizes urgent tasks without a centralized system, less visible issues—like incomplete compliance documents—may slip through the cracks.
- Missed business opportunities. Inefficient workflows limit teams’ ability to hire new clients or pursue additional revenue streams. For instance, if transaction managers are overwhelmed with existing contracts, they may lack the capacity to manage ancillary tasks like upselling services or negotiating vendor partnerships.
The ListedKit AI Difference
ListedKit AI redefines contract lifecycle management by automating intake tasks, reducing errors, and empowering teams.
Smart Automation Capabilities
ListedKit AI leverages smart automation to eliminate repetitive manual tasks:
- Data extraction. Automatically pulls details from legal documents, contracts, and forms.
- Validation. Checks that all required fields are complete and correct.
- Task assignment. Dynamically routes contracts to the right team members based on urgency.
One user reported that one of the most significant improvements was the ease of transitioning listings from pre-contract to under-contract stages.
With ListedKit’s automation, this process went from being a source of stress to a seamless click of a button. The user described it as “a breath of fresh air, ” allowing her to focus on the next milestone without manual data entry.
Enhanced Accuracy
ListedKit AI’s intelligent document processing reduces the risks of errors by:
- Automatically flagging missing information or inconsistencies in legal documents.
- Preventing outdated contract templates from being used.
- Helping teams maintain compliance with contractual obligations.
For many users, the platform’s comprehensive checklist and milestone features helped ensure no steps were overlooked. This improved compliance and made operations smoother, reducing the risk of costly errors that can delay deals.
Time Savings with Tangible Results
The metrics speak volumes:
- Manual Intake: Typically requires 3–5 hours or more per contract.
- With ListedKit AI: Intake time is reduced to 45 minutes or less.
- Impact: A 75% reduction in intake time.
One user highlighted the “Transactions” tab as a vital tool, providing a clear overview of all ongoing contracts. This feature allowed the team to handle more transactions efficiently without compromising quality or client satisfaction.
Empowering Teams for Smooth Operations
ListedKit AI empowers transaction managers and teams by:
- Reducing time spent on low-value tasks, such as data entry and verification.
- Allowing teams to focus on strategic priorities, like contract negotiation and collaboration.
- Improving employee satisfaction by reducing stress and freeing up time for meaningful work.
A ListedKit user shared:
“With ListedKit AI, our contracting process became seamless. The intuitive interface made onboarding easy, and our team productivity has never been higher.”
Implementation Success
Implementing a new contract management tool can seem daunting, especially for busy transaction managers who are balancing numerous tasks.
However, ListedKit AI makes the transition seamless, allowing teams to experience immediate benefits without disrupting their workflows.
Many users have found that ListedKit’s ease of integration, intuitive interface, and quick setup process make it an invaluable addition to their operations.
Here’s how this platform has helped real estate transaction teams improve their contract workflows, from setup to long-term impact:
1. Easy Integration for Flexibility
ListedKit AI integrates effortlessly with existing contract management processes, ensuring smooth operations during the transition.
The platform immediately improves task organization and workload management for teams previously reliant on outdated systems like spreadsheets. It functions as a centralized contract repository.
As a cloud-based solution, ListedKit allows real-time access to contracts and tasks from any location. This flexibility ensures that transaction managers and their teams remain aligned and updated, even when working remotely or managing multiple transactions simultaneously.
2. Quick Team Adoption
ListedKit AI’s user-friendly interface ensures that teams can start using the platform with minimal training.
Its intuitive design simplifies navigation, allowing transaction managers to focus on their contract processes rather than learning new software.
Features like smart templates and clear task prioritization further enhance its usability.
One team of five users reported significant productivity gains within weeks of implementation. The platform’s organization tools helped them manage contract volume more effectively.
By making contract administration more manageable, ListedKit allowed the team to allocate their time to strategic activities, such as client communication and task coordination with external providers.
3. Immediate Impact on Business Processes
From the moment it is implemented, ListedKit AI delivers measurable results:
- Faster contract turnaround times. Tasks that once took hours—such as transitioning contracts between stages and tracking progress—can now be completed in minutes, accelerating the contract lifecycle management process.
- Improved scalability. Teams can handle higher contract volumes without hiring additional staff, ensuring efficient growth.
- Higher return on investment. By reducing inefficiencies, reducing errors, and automating repetitive tasks, ListedKit delivers cost savings and improved resource allocation.
One user highlighted how the system enhanced their ability to handle business contracts efficiently.
The centralized dashboard provided clear insights into each transaction’s status, ensuring they stayed on schedule without compromising quality.
Overcoming Contract Challenges with ListedKit AI
Manual contract intake poses significant hurdles for transaction managers, from repetitive tasks to increased error risks and strained team capacity. These challenges hinder workflows, delay client deliverables, and create unnecessary stress.
ListedKit AI provides a transformative solution by automating contract intake, improving data accuracy, and simplifying workflows. With its intuitive features, teams can save time, eliminate costly mistakes, and focus on delivering exceptional service.
Ready to streamline your contract process? Reduce contract intake time by 75% using ListedKit AI. Get started for free today.
