Many customers have asked in the past, “What happens if we want to create a Transaction Room for our clients, but they haven’t chosen a property yet?” I would always suggest for the user to add the client’s name into the address area, rather than the property address. This wasn’t a perfect solution, but one that worked for many people. As of our June 2016 release, we now have a simple solution for that situation-give the Transaction Room whatever name you’d like.
With the new “Name” field in the Create New Transaction modal, you can now name the Transaction Room as you wish. You can name it the property address, the client’s name, or whatever you see fit.
This new feature may seem somewhat trivial, but the opportunities now available within DTR are quite significant. Here are two ways to use the new Name field within Transaction Rooms:
- Your clients does not have a property yet.
When you have a client who is on the hunt for their new home, you may have documentation in need of signature, sharing, and storage. You can now create a Transaction with the names of the clients rather than the address or property name. You can later update this Transaction Room with the address within the Details tab if you choose.
- New Real Estate Agent/Broker Onboarding
As many of you already know, brokers and agents frequently change brokerages. This can make onboarding a continuous pain. Some of our brokerages have started to utilize Transaction Rooms as a way to onboard their new members, using the system as an HR tool. Not only does this allow brokerages to easily store important onboarding documentation, it also provides a nice segue to introducing Transaction Rooms to their agents and brokers. This allows your new members to become familiar with signing documents, sharing documents, uploading documents, and more.
Another fantastic feature that was recently added for our Broker Edition customers is the ability to adjust the requirements for creating a Transaction Room. For example, a brokerage can require that only a Transaction Room Name is needed for creation rather than the need for an address/city/state/etc. Be on the lookout for our next blog which will highlight “Transaction Room Detail Fields”.
How have you been using the new Transaction Name feature?
Let us know your experience in the comment section below.
Stay tuned for more Tips for Real Estate,