Dotloop is an online platform that exists for the purpose of facilitating real estate transactions. As a result, it can be a valuable tool for real estate agents as well as real estate brokers. It is an excellent example of modern companies offering their services through the Internet rather than older and perhaps out of date channels. Here are 10 things that you may or may not have known about Dotloop:
1. Founded Out of Frustration
Keeping records is an important part of real estate transactions. However, it can nonetheless can be a frustrating one as well, which is why Austin Allison founded Dotloop to help make the process as smooth as possible.
2. Founder Has Plenty of Experience with the Real Estate Market
The founder has plenty of experience with the real estate market. He grew up in a family that worked in construction as well as real estate. As a result, he became a real estate agent by the age of 18, with the result that he was selling houses while attending school.
3. Needed a Technical Co-Founder
Allison was the one who came up with the initial vision. However, he still needed someone to handle the technical side of things. This resulted in him seeking out one of the people in his network, who helped him co-found the business by providing his technical skills.
4. Based to Some Extent on Social Media Sites
Dotloop’s process has some resemblance to social media sites, which is unsurprising considering their impact. With that said, some of this resemblance is intentional as well because Dotloop is interested in a younger audience because they are the ones who spend the most time buying and selling houses.
5. Allison Has Compared Dotloop to an iPhone
On one occasion, Allison compared Dotloop to an iPhone and its competitors to MP3 players. This was meant to emphasize the superiority of Dotloop’s integrated system, which was a much bigger leap than comparative services on the part of its competitors.
6. Can Save Users a Lot of Time
Speaking of which, Allison has also made the claim that using Dotloop can save its users a lot of time. To be exact, he claimed 10 to 20 hours for each real estate transaction. Assuming that this was true at the time that it was said, this would have been a huge competitive advantage for Dotloop users.
7. Included Advertising
Later, Dotloop introduced advertisements from its affiliated companies in the workspaces of its users. This made a fair amount of sense, seeing as how those affiliated companies offered pretty much exactly the kinds of products and services that said users would have been interested at the time, seeing as how they consisted of attorneys, moving companies, and the like.
8. Bought Out by Zillow
Some people believe that this was one of the reasons that Zillow bought out Dotloop. Essentially, they believe that Zillow was looking for new sources of revenue, meaning that Dotloop was picked up because it looked promising. With that said, that was far from being the first time that Dotloop had been noticed by one of the big players in the real estate sector.
9. Available on Various Platforms
Like other services offered through similar methods, Dotloop is available on a wide range of platforms. This is important because being available on more platforms makes it easier for interested individuals to use it in the manner of their choosing at the time as well as the place of their choosing, thus increasing their convenience as well as their productivity. It might not seem like much, but these things can make for huge improvements in the grand scheme of things, thus making them very important.
10. Offers Real-Time Monitoring
On a related note, Dotloop offers a fair amount of real-time monitoring of real estate processes as well. This enables interested parties to keep a close eye on what is happening, which in turn, enables them to make the right choices needed to ensure the right results. Of course, this kind of thing wouldn’t have been possible in the past because telecommunications just wasn’t good enough in those days to support something so seamless. As a result, this can be considered an example of how tech can make people more productive than otherwise possible.