Automating Compliance: How Powerful New Tech Tools Protect Broker-owners

Last fall, Form Simplicity, one of the real estate industry's most popular and advanced paperless transaction management solutions that was created by the Florida Realtors®, added Broker Transaction Management as a standard feature at no additional cost to customers.

The reason this is significant is that perhaps no task is more mundane – yet more important – than the compliance issues that brokerage management faces. Broker Transaction Management creates a single place for real estate broker-owners to manage, review, approve, track and store every agent's transaction activity from beginning to end.

It was also the motivation behind deploying these features without any additional costs to Form Simplicity customers because this need is universal: Every brokerage must deal with compliance issues every day. Broker transaction management tools shouldn't be something you have to pay for separately; it should be a standard feature within every transaction management system.

Risk management

Reducing risk through compliance is a key role for real estate management. These new broker tools reduce risk through a customizable, automated, paperless review process that helps safeguard brokerage transactions to remain compliant.

First, brokers can collaborate with their agents throughout the transaction review process to ensure accuracy across a streamlined workflow. Second, these tools also offer office transparency: brokers track email and text correspondence for every transaction. This not only gives brokers visibility into each agent's transaction activity, it also allows brokers to evaluate, comment on and approve all forms digitally submitted by their agents.