CINCINNATI, OH--(Marketwire - Oct 31, 2012) - dotloop today announced that Arizona Association of Realtors® has selected its cloud-based platform to help its members take advantage of technology and grow their businesses while protecting the integrity of an association's intellectual property and creating new revenue streams as transactions increasingly move to a digital setting. The company also announced the addition of real estate industry veteran Chad Humphrey as director of industry relations. Humphrey brings more than 15 years of real estate experience and will be responsible for leading all industry business development efforts for the company.
"We're fast becoming a standard for agents everywhere to eliminate paperwork and satisfy client demand for a more digital experience throughout the real estate transaction. The next chapter of our growth focuses on partnering with state associations to protect and grow their revenue streams in a digital world," said Austin Allison, CEO of dotloop. "Arizona has always been at the forefront of innovation and the opportunity to work with them further supports our belief that associations are looking for new ways to bring more value to their members. Bringing Chad onboard to lead our efforts is a major step in empowering associations to deliver more member value and introduce new revenue opportunities with dotloop."
Over the past five years, the real estate industry has moved from a heavy reliance on physical documents and forms to complete transactions to a digital world in which agents and clients alike expect a real-time, mobile-friendly experience. Associations are re-examining their business models in line with this shift, moving from paying for physical forms to be printed or programed to payment for providing member access to proprietary forms online through a service that also improves the transaction process for brokers, agents, and the buyers and sellers they serve.
dotloop's approach is an industry-first and empowers state associations such as Arizona Association of Realtors® -- the seventh largest state association with more than 39,000 members -- to create new revenue streams without impeding the speed at which its members do business. Using dotloop, associations are able to provide their members full access to form libraries, enabling them to review, negotiate, counter and sign deals in just one system from its secure online platform, while also maintaining all necessary version and access controls.
"In moving from a reliance on physical and electronic forms to an online environment, dotloop has not only helped us generate new revenue streams, but also helped our members utilize newer technologies to get deals done on behalf of home buyers and sellers," said Tom Farley, CEO of Arizona Association of Realtors®. "Our members benefit from the real-time, collaborative capabilities of the dotloop platform to help eliminate the inefficiencies of paperwork while we ensure form authors are still being compensated fairly. It's a win-win."
"It's no secret that this shift to online has forced state associations to fundamentally rethink how they continue to monetize forms in a digital world," said Chad Humphrey, director of industry relations, dotloop. "dotloop recognizes the challenges they face and our traction with customers like the Arizona Association of Realtors® shows our willingness to adapt their business models and make them successful in today's environment. I'm committed to accelerating recent growth and helping associations realize the revenue potential possible in partnering with us."
Humphrey joins the company from Form Simplicity, where he served as director of sales and client services and was responsible for business development and market and financial analysis to enable greater business value to clients. Humphrey has more than 15 years of experience in the real estate industry ranging agent, broker, consultant and corporate speaker roles, including positions at Move Inc./Realtor.com.
dotloop is transforming the real estate industry by providing a secure online platform where any real estate agent can share and electronically sign transaction documents in real-time. As the leading provider of collaborative negotiation services, dotloop is available to service all real estate professionals throughout the United States and Canada. The innovative dotloop platform is a collaborative, wholly web-based negotiation platform that lets users add, adjust, approve and sign documents digitally -- addressing the challenges of security, efficiency and overhead costs in today's real estate industry. For more information, please visit www.dotloop.com.
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