Technology's creating a better way to buy and sell homes? Exactly.
The future of real estate sales is here. And it's being led by Kevin Wasie and his Akron real estate company: Exactly Modern Real Estate.
Through Exactly's proprietary process, one that leverages Cognito Forms, homeowners can now enjoy affordable and simple flat-fee real estate transactions. Gone are the days of variable real estate commissions, which can easily climb to $10,000 or more.
Exactly has replaced that system with a more efficient, technology-driven model. Their system empowers consumers, controls costs, and frees real estate agents to spend more of their time with clients.
Automating real estate offers
The Exactly system enables buyers or their agents to easily submit offers through an online form. They simply choose the property and read the state-required disclosures, then enter the offer amount along with financing, closing and inspection details.
The system automatically generates the legal documentation and an offer summary sheet, then emails the materials both to the seller and any other pre-defined parties. An immediate text message alerts sellers that they have an offer.
"This process saves countless hours," explains Kevin. "Everyone receives offer details simultaneously and can begin discussing how to proceed with negotiations."
Of course, Exactly has a tool to streamline those negotiations as well.
Making negotiations smarter
Exactly leveraged Cognito Forms' Lookup feature to create their Offer Comparison Calculator. This tool enables sellers to adjust factors such as the offer amount, closing costs and buyer commissions to see how each change will affect their estimated net return.
"This helps sellers make informed decisions during the negotiation phase," he says. "They have all of the necessary data at their fingertips and can explore the potential options before either accepting or countering an offer."
Enabling instant offers
"An offer's timing can sometimes be the difference between getting the house you want and seeing it go to someone else," says Kevin.
To help prospective buyers get their offers in as fast as possible, Kevin and his team developed a special kiosk they use during open house events. This digital sales station enables people to make an offer right from the living room of the house they want to purchase.
"If a potential buyer feels the house is right, there's no reason to wait," he adds. "They can step up to the kiosk, complete the form on a touchscreen, and submit their offer right then and there."
It can even save consumers money as the Exactly team can manage the whole transaction – further lowering the overall real estate commissions for the property.
Making agents more efficient
While buyers and sellers are embracing the new, more streamlined process, agents are finding that it also makes their jobs more rewarding.
"Traditionally, much of a real estate agent's time is spent preparing paperwork," explains Kevin. "To free up our agents' time, we connected our Cognito Forms, CRM and signature systems using Zapier. This connectivity enables our Cognito Forms account to automatically populate legal contracts and produce printable PDF files."
With their paperwork being wrangled by technology, Exactly's agents have more time to focus on the client experience. The system is proving so efficient that Kevin estimates Exactly agents should be able to sell four houses in the time they used to spend on one.
However, since Exactly's agents work on salary rather than commission, they're encouraged to focus on their roles as consultants. This ensures that customer satisfaction is always more important than closing count. And that's why the future of real estate looks so promising.