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Real estate transaction management systems come of age

Systems evolve, mature after early bust

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Real estate transaction management systems have rebounded from an early implosion and are slowly gaining ground in the industry, according to a study by Clareity Consulting, a real estate services company. "The last five years have seen a slow but steady maturation and evolution within the space. Clareity believes the foundation has been built and that transaction management systems are read for primetime," the report states. The latest report, "Transaction Management: A State-of-the-Industry Report," is a follow-up to a white paper that the company released in February 2003. The company estimates that over $120 million was invested in the earliest transaction management technology, "about $100 million of which is 'gone.' Several of the companies have closed, some sold their assets for pennies on the dollar, several of the technologies were killed off or shelved by the acquirer, and a few survived under new ownership. Only a few of the companies that pioneered online real estate tran...