Denver based tech start-up announces launch of educational eContract software
eGent is a Denver based real estate technology that began operations in mid-2020 after more than 4 years of development alongside industry-leading experts. Built with the desire to simplify real estate, eGent has created an all-in-one eContract and Transaction Management solution that streamlines the purchasing process by offering state-approved forms in a comprehensive, educational format. With every industry seeing its fair share of innovation, why has real estate taken a backseat to its counterparts in driving change? eGent saw this as an opportunity to enhance the experience of what is often considered to be the most important investment of one’s life.
eGent recognized this void in the industry and has built a unique solution in response. eGent is a single-solution eContract and Transaction Management software, built specifically for Colorado with plans for national expansion. This software is used by parties to a real estate transaction including: agents, managing brokers, transaction coordinators, buyers, sellers, tenants, and landlords. eGent has all of the general features you would come to expect in a transaction software, with access to: built-in commission-approved forms, productivity reports, messaging center, eCalendar, task list, and eSignature capabilities. In addition to general features, eGent has pioneered a number of exclusive features such as the never-been-done Client Profile, document compliance software, customizable templates, and transaction coordinator profiles. Most notably, eGent has partnered with the Armbrust Real Estate Institute to create a one-of-a-kind feature called ‘Simple View’. eGent Simple View® breaks down commission-approved forms by converting them into an easy to understand, layman’s terms format. This intuitive feature helps agents and their clients better understand real estate forms and how they may affect the consumer during and after the transaction.
Why is this good news for the real estate industry? It’s important to understand what makes a real estate agent’s job so challenging. Some of the barriers to entry that agents and their teams face include: understanding of the transaction process, startup capital, networking, and economic pressure. One particular dynamic that deters people from pursuing careers in the real estate industry is the difficulty of comprehending contracts at a high level. The majority of agents struggle with understanding contracts for at least the first 12 months of being licensed. With eGent’s suite of game-changing features, brokerage firms, agents, and their clientele have access to an easy to use platform that empowers all parties to the transaction through education and automation. With having the right systems in place, real estate professionals can repurpose the time spent on busy work and focus on amplifying their clients’ experience.
“I remember being an 18-year-old agent on the phone with my managing broker trying to navigate through an offer at 9:30 pm on a Sunday. Taking away valuable time from his schedule for such a trivial task felt selfish, but there was no other option. This moment opened my eyes to the opportunity of providing a better solution for fellow agents to become more self-sufficient and for managing brokers to allocate their time more efficiently. That’s where eGent began,” says Zach Garfias, Founder and CEO.
Being a real estate agent is a competitive profession. To be successful you must be knowledgeable, have a strong routine, and take networking seriously. Utilizing the right tools can make or break an agent’s performance and could be the defining element for success in the industry. The fact is, 80% of agents who pursue a career in real estate won’t be around in two years; of those who break through the barrier of entry, only 50% will close a one deal within 12 months. All the while, digital transformation is continuing to proliferate through the industry at an incredible rate, making it that much harder to stay informed and on the cutting edge. In a report written by KPMG, a sample of 270 different real estate companies across 30 countries were asked, “What do you see as the biggest industry pain points where technology could produce efficiency gains?”, 40% of those companies felt transactions could use digital transformation to drive productivity and efficiency through their business. The KPMG also reported that 71% of firms are willing and able to transform their operations to meet technological demands and bring value to their teams and the customers working alongside them. When asked “Which technological innovation is your business most likely to utilize?”, a majority of respondents said automation. eGent was built to support the fundamental issue affecting the 80% of agents who don’t make it past 2 years, or the 50% who close one or less transactions annually. Real estate professionals are calling for a new frontier of digital transformation, and eGent’s mission is to do exactly that through a superior user interface that is educational, informative, and streamlined through a single-solution platform.
“In eGent, our industry finally has a broker and consumer-centric solution designed to launch efficiencies, solve problems and assist in competent contract preparation.” – Patrick Armbrust, Armbrust Real Estate Institute