RELAY, a Web-based transaction management system for consumers and real estate professionals to use when buying or selling a home, has partnered with VREO, a privately held company that provides Web sites and Web-based software to real estate brokers, agents and franchise organizations.
The partnership will permit VREO to sell its RELAY-compatible REDtablet computer and Dashboard software as a package, allowing users to sign documents directly on the REDTablet as part of the RELAY transaction, without having to generate paper.
“When coupled with RELAY’s CD generation feature, REDtablet users will have access to a complete transaction system that works both offline and online, whether connected to the Internet or not,” said Real Estate Business Technologies (REBT) Chairman Bob Kulick. REBT LLC, the developer of the RELAY transaction management system, provides technological systems to Realtors.
RELAY allows the tracking and management of all information related to a real estate transaction from listing through closing, including transaction contracts and documents and listing and sale information, as well as all communication generated throughout the transaction. The RELAY system also allows users to enable assistants, other agents or transaction facilitators to participate in the process.
Consumers receive a CD-ROM when the transaction is complete that captures all of the transaction information using the same user interface. Brokers and agents can elect to retain a thorough electronic history of each transaction, which can be used to satisfy record retention requirements.
RELAY also features one-click integration with ZipForm and WINForms Online, the electronic forms software used by nearly 300,000 Realtors nationwide. The one-click integration feature allows users to move both the transaction data and the completed form images – purchase agreements and disclosure documents for example – to the transaction management platform and into the document management system.
As a Web-based transaction management system, there is no hardware to purchase or software to install in order to use RELAY. All that is required is Internet access; agents or their clients can view their online transaction at anytime, anywhere.
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