A few years after being swallowed by Zillow, dotloop remains an innovator in real estate transaction management.
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Dotloop is one of the industry’s more popular transaction management software products, and it was one of the first such products to be formally reviewed by Inman.
According to the company, its software “touched” half of all U.S. residential real estate transactions last year, meaning that at least one document in a transaction was created or was in some way a part of a dotloop deal.
Its acquisition by Zillow turned a number of heads in the industry, sparking rumors of the portal’s transition into brokerage, which turned out to be mostly true.
Since being engulfed by the advertising giant, dotloop has remained on its innovative course toward being an industry leader in web-based transaction oversight.
Its visually original interface and “loop” nomenclature are intact, and the company is underway with a number of new user-driven initiatives.
A focus on mobile is the company’s current priority, said Cynthia Taylor, dotloop’s director of development.
She told Inman on a recent demo, “We’re creating a soup-to-nuts mobile experience” and that it continues to circulate an internal mantra that asks, “Is this the best way to do a transaction?”
Dotloop Messenger is somewhat at the heart of the mobile transaction. It’s a feature that allows anyone to be invited into a deal via text, documents to be securely shared and accessed and milestones to be met within a “conversation.”
Customers and vendors do not need to download the app to participate, saving those parties a significant amount of time, hassle and general business bandwidth. Document permissions and roles can also be set within the experience.
“Agents are using our app on both mobile platforms, but more on Apple,” Taylor said. “One-quarter of our active users are on the app each month.”
A team platform is also a part of an updated solution, targeted at teams within large brokerages. Dotloop told Inman that 2,000 teams have been onboarded into the collaborative environment.
Lastly, Dotloop Connect, its partnership model, continues to connect a number of third-party software products to its solution. More than 60 CRM, marketing and real estate services systems are a part of it.
Dotloop’s sale to Zillow might not have been an immediate advantage for its reputation in some corners of the industry.
Say what you will about its parent — but it won’t stop its developers and strategists from building a product that continues to intelligently help brokerages make deals easier to do.
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