Keller Williams Realty has added SettlementRoom, a real estate transaction management system, to its roster of preferred vendors for its 38,000 agents across the country.

 

The transaction management software allows agents, brokers and multi-office companies to manage all of their real estate listings and transactions through an online interface. This technology has evolved to provide for action plans, e-mail reminders, document management, task tracking, scheduling, reporting, compliance auditing and transaction archiving. SettlementRoom’s Web-enabled transaction management software has more than 30,000 registered users, with customers in every state.

 

Jonathan Cutler, president of SettlementRoom, said, several Keller Williams affiliates are already “on board” with the technology platform. SettlementRoom has been in business for about five years.

 

In June, SettlementRoom announced that it was selected as a preferred supplier for Prudential Real Estate nationwide.

 

Transaction management systems are gaining momentum again in the real estate industry after a bumpy ride with first-generation tools. Some companies abandoned early efforts to develop and adopt transaction management systems because of high costs or difficulty in implementing the systems, though such tools — which can reduce the volume of paper documents and speed up transactions — are now becoming an industry standard.

 

Some big companies have entered the transaction management systems field, such as First American and Fidelity National Information Systems. Guru Networks, eFrogg, and Wintrans Solutions are also among the players.

 

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