Deal with Canadian Real Estate Association (CREA) means nearly all of Canada will be using the same digital transaction platform in 2019; sets stage for new transaction management superpower in North America
In October 2017, Lone Wolf Technologies purchased Instanet Solutions and added TransactionDesk, a web-based transaction management solution, to its suite of technology products.
Lone Wolf viewed the solution as a companion piece to its back office software, brokerWOLF, and as its bell cow in the transaction management space. One year later and the product has become so much more.
Recently, Lone Wolf and CREA announced a deal to provide TransactionDesk’s transaction management tools to nearly every real estate professional in Canada. This makes it possible for the entire country to have a completely digital transaction management experience in 2019 and sets the stage for Lone Wolf to become a major player on the transaction management scene in North America.
Deal with the Canadian Real Estate Association (CREA)
Comprised of 90 real estate boards and associations and over 127,000 members, CREA is one of the largest single-industry trade associations in Canada. The deal gives the association’s members a new version of CREA WEBForms—a web-based platform featuring forms, document storage, MLS integration, and agent-level checklists and tasks from TransactionDesk. This platform will make it easier for agents to manage their deals from offer to close.
Members will also have the ability to upgrade and add eSignature to their system, as well as brokerage-centric features and an integration into brokerWOLF, making it possible to manage an entire deal from start to finish in a single system.
"To say that this is a big deal for Lone Wolf would be an understatement and I think our excitement goes without saying," said Patrick Arkeveld, CEO of Lone Wolf Technologies. "I truly believe this partnership has the potential to shape the future of real estate in Canada and open up the opportunity for a completely digital real estate experience."
Expanding Presence in the U.S.
From this foothold, Lone Wolf is poised to be a dominant force on the transaction management scene in the U.S.
Since acquiring TransactionDesk in 2017, the company has quietly added some of largest MLSs and Associations in the U.S. as clients, including the Realtors® Association of the Palm Beaches and Greater Fort Lauderdale Realtors®(RAPB+GFLR). CREA’s members join over 550,000 agents in the U.S. as subscribers to the TransactionDesk member benefit.
Earlier this year, the solution registered record usage numbers, including 76 million logins, 32 million forms created, over 30 million additional PDF documents uploaded, and over 12.8 million signing events and 20 million documents signed. These numbers demonstrate the industry’s growing demand for digital transaction management software and TransactionDesk’s capacity to meet that demand.
“The real estate industry has evolved and the need for TransactionDesk is greater than ever before,” said Arkeveld, “Brokers, agents, clients—they all demand a better digital transaction management experience. Lone Wolf is now the leading provider of that experience in Canada, and with some of the largest MLSs and Associations as clients, we’ll soon be the same in the U.S. as well.”
Completing the Picture: Transactions and Back Office
Lone Wolf has a unique value proposition over its transaction management competitors: real estate’s top back office solution, brokerWOLF.
brokerWOLF is used by over 4,000 brokerages and 10,000 offices in North America. The solution is capable of managing each component of a real estate back office, including commissions, accounting, listings, transactions, agent management, and business intelligence. It also features an integration into TransactionDesk.
Putting the two programs together gives brokerages a single system for their transaction and back office management, resulting in:
- Faster transactions
- Improved data accuracy
- Easier document review and approval
- Better communication between agent and office
The company has promised an enhanced TransactionDesk/brokerWOLF integration for early next year. This two-way integration, which will send data back and forth between the two solutions in real-time, will be the first of its kind in the real estate industry.