Charleston-based startup Preclose – a mobile app that takes the chaos out of closings by providing real estate agents and their clients with real-time visibility into the closing process – was named top finalist at the Realogy FWD Innovation Summit, a real estate technology competition in Madison, NJ.
Realogy FWD is the 4th annual innovation summit where a select group of startups focused on real estate meet with Realogy executives, brokers and special guests to help define real estate’s future. Preclose came home as the 2nd runner up among the 15 companies selected to compete at Realogy headquarters.
Founded in 2016, Preclose created a software platform that solves a huge problem in the real estate technology industry, the lack of transparency during the closing process. With automated action items and streamlined communication in one central location, real estate agents can create a better closing experience for homebuyers, lenders, and all the service professionals 100% online. Currently, the only alternative for agents is back-office transaction management software that helps streamline internal office tasks, but does not solve the problem of engaging the home buyer in the closing process.
Preclose Founder and former Director of Operations at BoomTown, Rebecca Guthrie, describes their company as “so much more than a transaction management company, we bring everyone together in one central location with complete visibility into the preclose process and shared accountability with all the service professionals.”
Here’s how Preclose works:
- Automate preclose action items for agents, homebuyers, transaction coordinators and service professionals.
- Increase efficiency, save time and better service your clients from the palm of your hand.
- Automatically assign action items to service professionals to keep closings on track and on time.
- Allow home buyers and service professionals to easily collaborate online.
- Provide clients instant access and visibility to the status of their closing.
- Preclose tools and features include: Automated Workflows, Real Time Notifications, Shared To-Dos, Team-Friendly Transactions, In-App Chat and Document Storage.
The Realogy FWD event provided a stage for entrepreneurs to shed a light on the everyday problems they’ve experienced in the real estate world and highlighted two key take-aways, both of which are key components of Preclose. First, software solutions that are willing to integrate with existing technology providers rather than those that require agents to choose one or the other, are going to be the leaders of the industry. Second, practical consumer applications are going to be huge. Alex Periello, CEO of Realogy, said “the next generation of homebuyers will anticipate that cutting edge technology will enhance their entire consumer experience.”
You can find out more about Preclose and sign up for early adopter pricing at Preclose.com