REAL ESTATE TECHNOLOGY
QUALIA | August 25, 2022
Qualia, the leading digital real estate closing platform, today announced the release of the Qualia API. The Qualia API provides real estate businesses and PropTech companies seeking to start, optimize, or scale their title agency operations the ability to automatically connect internal software tools, integrate with their commercial partners, and analyze their comprehensive performance data.
With the Qualia API, businesses can automatically place and track title orders, as well as access comprehensive order, accounting, and contact data on their files in order to build custom notifications and executive-level performance dashboards. API customers can use these capabilities to design custom client experiences as well as track performance, productivity, revenue, and pipeline across clients and settlement agency branches. These insights can then be used to identify areas for improvement operationally, visualize business trends over time when used with their BI tools, and ensure CRM and accounting systems all stay in sync.
“Our mission at Qualia is to create a simple and secure journey to home ownership, As part of that, we continue to develop technology that helps businesses engineer full end-to-end purchase and refinance experiences. The API makes it easy for businesses to expand without an expensive and timely investment in custom built technology.”
-Nate Baker, CEO at Qualia
The Qualia API comes along at a time when the pace of change in consumer expectations for end-to-end purchase experiences has accelerated. Companies with large-scale operations have historically struggled to keep up with these changes and efficiently connect their multiple workflow and business intelligence tools to deliver a unified real estate transaction experience.
Amid these changing expectations, the real estate and mortgage market continue to tighten. After years of growth, the industry faces a market downturn which is predicted to persist well into 2023. The Mortgage Bankers Association forecasts mortgage origination levels in 2023 are expected to be half of what they were in 2021. During this shift, companies in the real estate and mortgage industry are simultaneously facing heavy pressure to cut costs by operating more efficiently while also investing in modern client experiences in order to remain competitive.
Qualia’s cloud-based platform is uniquely positioned to meet the various needs of real estate business amid shifting macro environments. A flexible set of pull and push API capabilities and a secure authorization framework enable title agents to connect internal systems for a more streamlined title and escrow operations infrastructure. For businesses without internal title operations, the API also enables direct, digital access to a national network of technology-enabled independent title agents.
We think about Qualia as an extension of the Redfin ecosystem and that’s not possible without the Qualia API, With the Qualia API, we don’t have to spend tens of millions of dollars in R&D to build out ways to streamline our title & escrow experience. The Qualia platform makes it possible for us to package, market, and let our customers have a cohesive experience that would not otherwise be possible as a set of discrete services,shared Mary Pappas, Principal Product Manager at Redfin.
Qualia is the leading comprehensive digital closing platform used by title, escrow, real estate and mortgage lending professionals to transform home buying and selling into simple, secure, enjoyable experiences for millions of homeowners each year. The Qualia platform provides a secure operating system of record for the real estate settlement ecosystem through a suite of workflow, accounting, reporting, and communications products as well as its expansive product and service integrations. Qualia is headquartered in San Francisco, CA and has offices in Austin, TX, and Superior, CO.
REAL ESTATE TECHNOLOGY
HelloSign and RESAAS | August 20, 2022
RESAAS Services Inc., a technology platform for the real estate industry, has partnered with HelloSign, a Dropbox company, bringing electronically-signed referral agreements to the real estate industry.
RESAAS is already used by one in four REALTORS® in the United States for facilitating brokerage-agnostic referrals between Real Estate Agents. To facilitate a secure and transparent method to electronically sign a referral agreement, RESAAS has successfully integrated HelloSign technology into the RESAAS platform.
"HelloSign is excited to partner with an industry platform with the vast reach RESAAS has across real estate, Our ability to provide global scale that organizations like RESAAS require sets us apart. HelloSign's technology makes integrations efficient, which enabled RESAAS to incorporate electronic signatures into its existing technology platform in just two weeks."
-Kelash Kumar, Vice President of Product at Dropbox
Since implementing HelloSign, RESAAS has seen over 80% of new referrals use electronically signed referral agreements.
RESAAS has brought trust to the real estate industry, The addition of electronically signed agreements to the existing RESAAS referral network is what the industry has been calling for. The RESAAS referral solution has already won multiple industry awards, enabling REALTORS® to trade referral business globally. Now, thanks to electronically signed referral agreements, RESAAS Agents can set out agreed terms of referrals and ensure they collect a fee for any referral they share through RESAAS,said Tom Rossiter, CEO of RESAAS.
HelloSign, a Dropbox company, simplifies work for millions of individuals. Customers all over the world trust the HelloSign platform – which includes eSignature, digital workflow and electronic fax solutions with HelloSign, HelloWorks and HelloFax – to automate and manage their most important business transactions.
About RESAAS Services Inc.
RESAAS is an award-winning global technology platform for the real estate industry. With over 500,000 real estate agents utilizing RESAAS in 160 countries, RESAAS enables real-time industry communication, delivers new business opportunities and captures unique real estate data. Some of real estate's biggest brands leverage RESAAS to provide business intelligence to real estate brokerages, franchises and associations.
REAL ESTATE INVESTMENT
Accel Real Estate Commission Advance | July 22, 2022
Real estate agents and brokers anywhere in the United States can now access financing on their pending real estate commissions through Accel Real Estate Commission Advance ("Accel"). Accel was created by Balanced Bridge Funding to help service real estate professionals around the country. "As a company familiar with assisting entities and individuals with guaranteed income but facing payment delays, being able to provide real estate commission advances is a natural step for us to help real estate agents and brokers who are interested in financing" says Joseph Genovesi.
Traditionally springtime is when the real estate industry starts to pick up. Schools are coming to a close and families begin to scout locations to move their families. Families or individuals with houses look to sell their properties for similar reasons. Real estate professionals have to be ready for the wave of interested buyers and sellers during the spring season and prepare for them.
Currently, the real estate market is on fire throughout the country. Low interest rates, the negative effect of Covid on the supply chain for developers and home builders, all cash offers have fueled the market raising the prices on the current stock of homes. A hot real estate market means the competition is fierce among real estate agents and brokers. They are competing for listings in their markets and they may need to have the financial backing or have access to financing to try and dominate their area. Some news outlets published stories about the constant activity of the Delaware real estate market in 2021. Last month, the Philadelphia Inquirer published a story about the lack of supply in the housing market and how that has affected housing sales. The Federal Reserve indicated they will raise interest rates which may help cool the real estate market.
According to the recent Pennsylvania Association of Realtors (PAR) report, general housing sales have decreased but the median home price has increased. In addition, the past few reports showed sales of houses priced between $250,000 to $2 million and more have increased from the previous year. The Delaware Association of Realtors (DAR) report for February 2022 showed similar statistics. The number of units sold dropped by 66%, but the average and median priced homes increased by 12% and 13%, respectively. Listings have increased and the average amount of time a home is on the market also increased. Inventory dropped over 10%.
Accel's real estate commission advance allows agents and brokers to access a portion of their pending fees. They can use these funds to increase spending on marketing their properties; get more listings, hire more agents; expand their offices for the spring and summer selling season. They can also use it for a variety of personal or professional purposes. Accel is also creating an exclusive membership program for qualified real estate agents and brokers.
This program will allow them to provide member agents and brokers with the unique opportunity to quickly and conveniently increase their cash flow and grow their real estate businesses. Members will enjoy exclusive benefits for funding including:
Priority processing of applications
45 Day Grace Period
10% Fee on advances 31+ days or more
Paid referrals for new colleagues that work with Accel Real Estate Commission Advance
No broker signature required to fund advances