Real Estate Transaction Management

Transaction Management in Streak
••• Jim Kimmons

Settlement Room is an effective solution for organizing the management of the myriad of tasks and document delivery functions involved in a real estate transaction and closing.

With the ability to pre-load a group of tasks that are associated with a particular type of transaction (such as the buyer side of a home purchase), the setup of a new transaction is made faster.

Document delivery can be accomplished online and/or via email to your clients and others involved in the transaction, with verification of their receipt on the other end.

Vendor's Site

The Pros

  • Allows pre-loading of tasks, vendors and contacts
  • Email, upload or Fax is allowed for getting documents onto the site
  • Secure access with permissions to control who sees what documents
  • Provides proof of document delivery
  • Syncs with tasking and contacts in MS Outlook

The Cons

  • Cost of Outlook plug-in - They might get more business giving it away


  • All basic transaction data & contact information available for online access.
  • Tasks and due dates maintained with reminders and reporting.
  • Documents maintained securely online with delivery tracking and confirmation.
  • Open Items display showing everything that still needs to be addressed.
  • Event Log shows dated and timed entries of all activities accomplished during the transaction.
  • Messages can be sent between participants and are logged for archiving and date/time stamped.
  • Calendar view for easy viewing of pending tasks.
  • Archiving online and/or on a CD Rom for long-term transaction activities storage.
  • Synchronizes with Outlook for both contacts and tasks. for Real Estate Transaction Management

In today's online world, this solution will help the busy real estate agent or broker to coordinate the many facets of a real estate transaction from contract to closing.

By allowing the uploading of documents three ways: 1)direct upload; 2) email; or 3)fax, you're able to get documents into the online archives and have them delivered via an email attachment or link to other transaction participants. A record is maintained to document the receipt of the items, with date and time.

Pre-loading of tasks by transaction type (Buyer Side Residential, Seller Side Land, etc.) allows for the fast future setup of new deals. When entering the tasks, days from contract date or before closing are used to compute the due dates as we most normally write our contracts.

Contacts can also be pre-loaded, allowing for the fast access to add them to transactions. All of your title company, inspection, mortgage and other contacts' information is in the system for addition to new transactions as they're opened. When a deal closes, options to archive all the transaction details are available, including downloadable online archiving or a CD of the transaction in the mail.

Vendor's Site

Update:  In checking the Internet to update this article, it appears that there is still a "Settlement Room" product, and it still is a transaction management platform.  However, it also appears that it risen to a higher level service that may not necessarily be for the smaller real estate brokerage.

A quick pass through the site seems to indicate that the product is more about serving banks and credit bureaus, and overkill for the average real estate transaction.  I am leaving the article, as the services you see listed are things to look for.