dotloop announced its latest growth in real estate technology and launched Trusted Service Providers, which enables brokers and agents to bring their recommended service providers online into the transaction process.
dotloop is a real estate platform where more than 1.4 million professionals come together to get deals done, enabling agents, brokers and third-party service providers to complete entire transactions online. The real estate technology brings people, documents and tasks into one workspace called a “loop.” Currently, the company reports up to half a million new people a month on its site, and 250,000 new deals per month.
“The core users on dotloop were primarily Realtors and brokers, but over time, they started to invite all other people they work with on the real estate transaction in the system,” said Austin Allison, CEO of dotloop, in an interview with HousingWire.
As the company witnessed more mortgage service providers getting looped into the system, they realized there was a need to loop them into the process as well.
This new growth falls seamlessly in line with the company's purpose, which is to create a collaboration platform where people come together to get deals done, Allison said.
“Our vision from the very beginning has been about helping people work better together on dotloop. With nearly 500,000 new users being added to the platform every month, it’s no surprise that we’ve seen so much traction with the service providers that are already working closely with agents and brokers in the offline world today. After all, real estate always has and likely always will be a relationship business,” Allison said. “Trusted Service Providers makes it easier and faster for agents and brokers to put relationships first by working on dotloop with service providers they trust.”
Trusted Service Providers features seven sections for servicers: title, mortgage, attorney, home inspection, insurance, warranty and moving and storage.