Building upon the electronic real estate forms technology now used by about 180,000 Realtors across the country, a new transaction management system is in its early launch phase.

The pioneer users of this system, developed with the support of the National Association of Realtors and the California Association of Realtors, include a national group of individual Realtors, brokerages, Realtor associations and multiple listing services.

Building upon the electronic real estate forms technology now used by about 180,000 Realtors across the country, a new transaction management system is in its early launch phase.

The pioneer users of this system, developed with the support of the National Association of Realtors and the California Association of Realtors, include a national group of individual Realtors, brokerages, Realtor associations and multiple listing services.

Real Estate Business Technologies LLC, a subsidiary of the California Association of Realtors, built the new platform, which is closely integrated with ZipForm and WINForms electronic real estate documents. The national association invested $1.2 million in the effort.

The initial user group for the new system was formed in October, said Joshua D.J. Sharfman, chief technical officer for the California Association of Realtors.

“We have invited a group of real estate practitioners – members who are interested in influencing the specific design and specific nuances of the system. That activity is well under way,” Sharfman said. The official launch of the transaction management platform is planned in the first half of 2005. These new users, the “charter subscriber group,” will meet Jan. 26 in Monterey, Calif., to discuss the platform.

While there are a number of transaction management systems that have been developed to digitize and automate aspects of traditionally paper-intensive real estate transactions, this platform is designed specifically for Realtors and for easing the transfer of information from ZipForm/WINForms documents to other forms required in the transaction.

“What is unique in this solution is the one-button, one-click interface with the forms product,” Sharfman said. This feature allows users to transfer information from the electronic forms into the transaction management system – and to upload those forms into the system – with the press of a button. “If the transaction is new and is not recognized by the system, a new transaction will be built automatically using the information that is in the transaction cover sheet,” according to a description of the technology.

Licenses for the platform are available only to members of the National Association of Realtors at this time, Sharfman said, though mortgage and title companies will be allowed to use the system for receiving and fulfilling orders, he said.

The platform is a logical extension of the effort begun with the adoption of electronic real estate forms, he said. In 1999, the National Association of Realtors, a California Association of Realtors subsidiary called Real Estate Business Services, Inc., and a forms automation company called CBF Systems Inc., formed RE FormsNet LLC, a joint venture designed to bring electronic forms to Realtors.

For the past several years, Sharfman said, “we have the lion’s share of the market in serving electronic forms to the real estate industry. This is really phase two of that vision that was outlined seven or eight years ago.”

Inman Blog: Industry pros give their take on everything from home ownership, foreclosures, mortgages and real estate life to the weather, our economy, and politics. Check in daily to get the scoop.

While the first stage of the technology focused on carrying transactions from the marketing phase to the listing phase, this second effort will facilitate the rest of the process, “from listing to close,” he said.

The interface was designed to be simple and straightforward, not unlike using an Internet search engine, he said. “The user interface has to be as simple as Google or Yahoo! for them to use – otherwise it doesn’t fulfill its mission.”

There are tools available to order and receive a wide range of services relating to the transaction, including mortgage, title, pest inspection, and natural hazard disclosures, he said, and developers are engaged in discussions with those companies that participate in the transaction process.

Participation in the platform will be available by purchasing individual, broker-level or association and MLS subscriptions, Sharfman said.

***

Send tips or a Letter to the Editor to glenn@sandbox.inman.com or call (510) 658-9252, ext. 137.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription
×