SOURCE: DotLoop

dotloop

December 12, 2014 12:00 ET

dotloop Announces New Features to Better Connect Agents, Brokers and Service Providers

Trusted Service Providers Enables Brokers and Agents to Bring Rolodex of Recommended Partners Online Into Real Estate Transaction Process

CINCINNATI, OH--(Marketwired - Dec 12, 2014) - Today dotloop announced a broad set of new functionality to allow agents, brokers and clients alike to collaborate more efficiently with third-party service providers throughout the real estate process. Trusted Service Providers allows qualified vendors to more seamlessly work with real estate professionals and clients within dotloop and for premium users to enable easy client connections for recommended providers.

dotloop is the collaboration platform where real estate professionals get deals done. It powers $30 billion worth of transactions each month and is used by 1.4 million professionals. The user base spans brokers and agents -- but also service providers, such as mortgage and title professionals, who now make up more than 30% of new homepage registrations on dotloop and are essential participants to any successful transaction.

The Trusted Service Provider initiative allows premium users to bring existing vendor relationships online and recommend certain providers to homebuyers and sellers when it makes sense during the process. It also offers new features within its free and premium versions to allow service providers to more easily connect with the 250,000+ real estate transactions taking place on dotloop each month. New functionality includes:

Maximum Control Over Suggested Providers in Premium Version: dotloop allows premium users to maximize functionality and control over which service providers are displayed in each workspace -- or "loop." By opting into the new feature, they can add vendors in up to seven categories -- title, mortgage, legal, home inspection, insurance, warranty and moving/storage services -- to be viewed by all parties in any loop, creating new business opportunities and enabling easy connections with clients and recommended providers. For example, one of the suggested home warranty providers for Better Homes & Garden Metro Brokers in Atlanta, Georgia, HSA Home Warranty, has been featured in a number of the transactions across its 26 offices and 1,800+ agents for the past nine months. The result has been a 62-percent increase in deal flow.

"We've created a Rolodex of service providers that we do business with and refer business to regularly -- all because we know that our agents and their clients will receive an amazing experience," said Craig McLelland, chief operating officer, Better Homes & Garden Metro Brokers. "Trusted Service Providers allows us to make these recommendations across all transactions -- and integrate selected vendors quickly and at scale. Not only will these new features maintain the relationships we've forged over the years at Metro Brokers, but also become a trusted advisor throughout the entire real estate process."

Localized Suggestions to Highlight Qualified Service Providers in Free Version: dotloop now also offers the ability for qualified professionals to be suggested in select markets to reach new agents and broker contacts, increase market awareness and win more deals. When an agent clicks "connect" the provider is automatically added to the loop -- allowing them to quickly communicate with necessary parties. Agents on the free version can also add service providers to transactions on their own. Suggested service providers receive bi-weekly reports highlighting customer impressions and connections, as well as an in-depth analysis of transactions in which they were featured. The program is live in 1,200+ zip codes across the country and expanding rapidly.

"Our vision from the very beginning has been about helping people work better together on dotloop. With nearly 500,000 new users being added to the platform every month, it's no surprise that we've seen so much traction with the service providers that are already working closely with agents and brokers in the offline world today. After all, real estate always has and likely always will be a relationship business," said Austin Allison, CEO of dotloop. "Trusted Service Providers makes it easier and faster for agents and brokers to put relationships first by working on dotloop with service providers they trust."

For more information on Trusted Service Providers, please visit: https://www.dotloop.com/serviceproviders.

About dotloop
dotloop is the leading collaboration platform in real estate where more than 1.4 million professionals come together to get deals done. It enables agents, brokers and third-party service providers to complete entire transactions online, bringing people, documents and tasks into one workspace called a "loop." dotloop is also the broker solution of choice for real estate transactions, being selected four times more often than any other vendor, according to a study by REAL Trends. dotloop allows brokers to run a better business by increasing visibility, retaining top talent and reducing operating costs.

The company is based in Cincinnati, Ohio and backed by Trinity Ventures. To learn more about dotloop, visit www.dotloop.com.

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