There is a new piece of agent tech out that intrigues me. It’s call the ABC Tool and it is an online client and transaction management tool. It puts the agent at the center of the myriad of details that must be coordinated and provides an efficient platform for agents and their clients to communicate and move together toward a successful closing.
The tool is in BETA testing right now and pricing has not been established. However, you can go to the website and sign up for a 30 day free account. I’ve asked a couple of Help-U-Sell brokers to take a look and tell me what they think and will report back, but if you’re curious, take a look:
www.TheAbcTool.com
I stumbled on this in an Inman News article and was struck by the comments by ABC’s founder, Michele Serro. Here’s how she describes the homebuying experience:
- Homebuyers range from wanting low- to high-touch experiences with their agents. Some homebuyers want complete autonomy, choosing to look at listings and homes by themselves; others want an agent to merely function as a sounding board; while yet others expect high-touch service from their agent, seeking accompaniment to showings and someone to run the deal.
- The real estate agent is the sun around which all other planets, and parties, revolve. As a central figure in the homebuying scenario, the agent needs are currently underserved by the market as well — from generating leads, prequalifying homebuyers, managing documents, and managing the expectations of clients.
- The process feels opaque, decentralized and out of control to most homebuyers. Homebuyers are seeking a single, centralized resource and repository to increase transparency around the process and communications between all stakeholders involved.
- Homebuyers seek validation and support throughout the process. Many homebuyers turn to friends and family members to provide both administrative and emotional support throughout the process, or are advised by other trusted service providers in the process.
- Document collection, management and sharing is a serious bottleneck. For all service providers involved in the buying or selling experience, document management is a critical, and often painful, part of the process. Missed milestones (often due to missed deadlines in document filing) can have lasting domino effects, ultimately impacting a homebuyer’s closing date.
- The complexity of buying a home today is exponentially greater than it was a few years ago. The housing market crash has resulted in fewer leads for agents, increased rigor, due diligence and regulation around financials, and extended timelines for those looking to buy.
And here is how she describes the ABC Tool:
Our tools and features coordinate agents and homebuyers seamlessly together, recasting the agents as the indispensable experts they are and supporting them in operating efficiently in an increasingly inefficient business environment and broken system.
(ABC Tool) takes care of much of the administration, so agents can focus on sharing their expertise of a certain area and putting best practices to good use — rather than filling out paperwork.
We also coordinate all the other players, like attorneys, inspectors and even lenders, and clearly spell out their roles and responsibilities along the way.
At first glance, I think this might be something that will improve efficiency, minimize errors and missed items, and above all, build agent value in the transaction process. Check it out and please, report back!