The real estate industry relies heavily on integrations from its technology partners, even if it is just the ability to have a single sign-on (SSO). As a result, very few Proptech firms do not have Open API to allow others access to information on their platforms. The challenge is finding a firm leveraging those Open APIs to solve a business problem.
Then along comes Loft47, whose main objective was to solve a problem by providing a modern commission management tool and simplifying the flow of transaction information from contract to close. Loft47’s approach is to create a ‘best of suite’ tech stack for brokerages. It is a strategy that leverages Open APIs from other products to build SMART integrations and allows brokerages to focus on their business.
Please see below for the full press release.
Loft47 Leads Real Estate Back Office Accounting Innovation with Smart Integrations
Brokers use Loft47 to automate their real estate commissions using SMART Integrations and Data Driven Dashboards
Vancouver BC, CAN – April 6, 2022 – WAV Group, Inc. released a detailed report for real estate brokers in need of a modern and robust back office solution. WAV Group’s report Smart Backoffice Integrations Saves Brokers Time & Money describes how Loft47’s integrations with industry standard transaction management platforms and accounting systems are SMART and create a highly flexible technology stack that can accommodate the complexity of any individual brokerage.
Loft47 is a modern commission management and accounting platform integrating with other key back office technologies and growing rapidly across North America. WAV Group went beyond the buzzword “integration” to find out how Loft47’s smart architecture is a solution that goes beyond checking the integration box. These high-quality integrations with bountifully-functional APIs drive a seamless brokerage back-office from contract to close.
The increasingly rapid adoption of digital tools for real estate operations has spurred on the introduction of new and modern software in the space. Brokers rely on a number of these modern tools to streamline data flow for the back office which will include any combination of listing management, form generation, e-signature, transaction management, commission management, payments, and accounting. Brokerages can also strategically grow their operations by adding goal setting, metrics and reporting tools to their technology stack.
While many companies are attempting to introduce a one size fits all product, choice still reigns supreme in real estate. Getting agents to adopt a single transaction management platform or requiring an accountant to use a real estate specific accounting ledger can be near impossible. WAV Group found that Loft47 elegantly ties together a brokerage’s transaction management, commission management, payments, accounting and reporting into one cohesive solution. Saving time and money at each step.
The efficiency gains of modern platforms are often lost in systems that do not connect to each other. These systems have proven to be plagued by redundancy, which results in rounds of data entry errors.
Wav Group’s report specifically addressed the strength of Loft47’s transaction management platforms SkySlope, Dotloop, and DocuSign Rooms. Loft47 is the leading commission management engine architected with SMART integrations as part of its core offering. WAV Group validated that Loft47 can accommodate flexibility and choice in technology tools without losing functionality, “If you are a broker who likes to provide agents a choice of which product to use in managing transactions, Loft47 is an excellent fit. A broker may have all three transaction management products configured simultaneously; thus, allowing their agents to use any one of them.”
Sasha Hryciuk, Founder and CEO, felt strongly about building Loft47 to connect to other best-in-class tools right from the beginning. “Loft47 is an accounting first, commission management platform, designed to support simple data flow.” Hryciuk continues, “We believe that Brokers and Agents should have the ability to choose the tools that suit their business needs while continuing to enjoy the benefits of connected, seamless workflows. Integrations shouldn’t be an afterthought.”
WAV Group Head of Technology David Gumpper has a vast history in back office technology. He understands the need for seamless dataflow. “My expertise has led me to consult with many small and large brokerages to pull data together similar in the way Loft47 facilitates out of the box. If you’re already using some of the most common tools on the market like Dotloop, SkySlope, or DocuSign, then Loft47 is an ideal choice and a game changer for your operations.” Learn more about smart integrations by visiting Loft47’s website.
About Loft47
Loft47 is the complete back office solution for real estate brokerages and agents. Loft47 integrates with other real estate tools to efficiently manage transactions, commissions, fees and communication with closing parties. More information is available at loft47.com.
About WAV Group
WAV Group is the leading consulting firm in the residential real estate industry, serving many of the largest and most successful small businesses, including real estate brokerages, technology companies, and local, state and national real estate associations. WAV Group helps each of its clients evolve and grow by delivering an unsurpassed depth of experience in technology, strategic planning, research, business development, sales, product development, marketing and communications in the real estate industry. The firm’s diverse collection of global industry experience allows it to cross-fertilize ideas and bring best-of-breed solutions to its clients. More information is available at wavgroup.com.
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