Getting to Know dotloop - A Conversation with Jason Reinking
by Chris Barranco
NVAR staff recently had the opportunity to interview Jason Reinking, Senior Director, Business Development at dotloop, as part of the brand-new Strategic Partner Spotlight Series. Learn the key takeaways from our conversation with Jason!
What services does dotloop provide to agents and brokers?
Dotloop is a true end-to-end transaction management system. From client presentation to closing, dotloop empowers agents to get deals done. Key features include the creation, editing and management of forms, the ability to easily share forms with clients, e-signature functionality and the ongoing storage of documents for agents to meet and maintain broker requirements.
Additional features for Teams and Business+ platforms include time-saving transaction templates and automated compliance workflows.
What are some of the most notable benefits of dotloop?
Jason highlighted several key benefits that elevates dotloop “above their competition.”
Dotloop is in the midst of rearchitecting its transaction management platform to simplify the transaction and make it more intuitive by expanding transparency and making navigation effortless. Everything that can be done on desktop can be done on mobile devices using a responsive platform that provides the same view regardless of the device.
Dotloop has integrated with over 75 third-party resources, including CRM, marketing, backend and accounting real estate software, and more. This is crucial for a transaction management platform, as the average broker uses 12.4 different software systems to power their business. Strong integrations allow data to move seamlessly between systems, helping to track leads, gain valuable performance insight, sync contacts, calculate and forecast commissions, and complete tasks.
Dotloop is a trusted and widely used product. There are over 45,000 reviews between the Apple and Android app stores, and the product averages 4.8 stars out of 5. The agent adoption rate is strong and dotloop has a 98% C-SAT rating among customers, with a 73 NPS. Dotloop provides strong onboarding for new clients and has a huge footprint and high satisfaction rate.
From a broker perspective, dotloop is extremely valuable, as it is the tip of the sphere for knowing a transaction is imminent. In other terms, dotloop instantly notifies when an offer is accepted. Brokers rely on knowing this information, as it is the perfect time to introduce ancillary partners, such as mortgage, title, moving services, photography, etc. Broker admins also have the ability to review agent documents and either approve documents or send back for revision. Furthermore, dotloop data can provide brokers with key insight on agent performance metrics, lead gen ROI and more.
How can dotloop help teams?
Dotloop for Teams is unique, as team members can complete work on another individual’s behalf, to provide the buyer or seller with a consistent and timely experience. All work completed through teams is fully audited, allowing team members to see who made changes on the documents. Teams is the quickest growing segment, with around 2,800 teams, compared to 7,700 U.S. brokerages.
In addition to Act on Behalf, dotloop for Teams offers transaction templates, a digital folder providing quick access to custom, prepopulated documents; instant notifications; robust compliant workflows to make the review process seamless; and more.
Why should someone choose dotloop as their transaction management solution?
Jason emphasized that consumers demand a fully digital experience. This concept is the very foundation of dotloop’s origin. Founder Austin Allison was an agent, who knew there must be a better way to sign real estate documents and meet consumers where they are. This led to the creation of dotloop - an easy to use, digital, mobile-first, all-in-one transaction management platform.
In addition, Jason shared a personal anecdote. He has been in the real estate industry for 17 years and while success used to be measured by minutes spent in a product, now it is the opposite. Dotloop strives to be as efficient as possible, allowing users to spend more time generating revenue and less time trying to navigate through the transaction management process. The vision is to make agents and brokers heroes to their clients.
What else should I know about dotloop?
The new dotloop 2.0 platform is currently in a closed beta, with a goal for the fully redesigned platform to launch near the end of the year. Important new features include document shared routing, a new document preview mode, drag and drop of documents between folders and the ability to view who has access to each document, their permission level and their sharing status.
In addition, there are inclusivity efforts, such as ADA compliance for visually impaired clients and Spanish Language Support. (*Please note, this does not mean dotloop is altering forms).
For those who have not engaged with dotloop, or those who have used the platform previously, Jason recommends revisiting later this year to see the new improvements, new look and new features available through the rearchitected platform.
About Jason Reinking
Jason oversees Business Development for dotloop. This multi-faceted position has several responsibilities, including the management of all third-party partnerships and integration partners. Jason’s team includes enterprise and national broker relations. They also work to grow awareness about dotloop with affiliate organizations, associations, affinity networks and national brands.