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DotLoop offers agents free version of transaction management platform

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Real estate technology company DotLoop has released DotLoop NOW, a "light" version of its paperless transaction management platform that it’s making available at no charge to individual agents.

DotLoop said brokerages and franchisors that want to take advantage of premium services such as real-time reporting, broker-level dashboards and efficiency features can upgrade from $8-$20 per agent each month, depending on the size of the office.

DotLoop CEO Austin Allison told Inman News in April that Dotloop NOW was intended to be an option for individual agents who may be with a broker that doesn’t provide such technology.

"We believe in providing a place where deals happen for the entire real estate industry and we would like for every real estate agent to have access to that benefit regardless of whether they’re willing to pay," Allison said at the time.

Based in Cincinnati, Ohio, DotLoop claims more than 200,000 real estate agents in 700 U.S. and Canadian cities use the company’s platform to negotiate, sign and close transactions.

DotLoop also announced today that the company has raised $7 million in funding from Trinity Ventures. Noel Fenton, general partner at Trinity Ventures, will serve on DotLoop’s board of directors.

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The company said it will use the financing "to accelerate sales and marketing, make strategic hires and open an office in San Francisco."

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