Phoenix, AZ – August 10, 2011 – (RealEstateRama) — Coldwell Banker Residential Brokerage, the real estate industry’s flagship producer of innovative technology and consumer services is proud to announce the development and implementation of a proprietary state-of-the-art cloud computing platform called HomeBaseSM, a companywide initiative poised to revolutionize many aspects of the traditional real estate transaction while sharply diminishing the organization’s and industry’s environmental footprint.
HomeBaseSM is a powerful, cloud-based transaction management system that provides home buyers and sellers a virtual hub to manage and oversee their real estate transaction from any Internet-ready computer or smart phone with hands-on precision, similar to other online banking and bill paying services.
Among other features, HomeBaseSM gives clients 24-7 secure virtual access to their transaction-related documents, a dedicated communications channel with their agent, the ability to be notified of key developments pertaining to the status of their transaction, and a customizable calendar and checklist related to their home sale or purchase. In some cases, other important parties such as the mortgage company, title agency and home appraiser can be linked in as well.
Consumers who participate in online banking and bill paying services will find that HomeBaseSM shares the same intuitive ease, navigation and security protocols found in those popular Web-based platforms. Additionally, social media tools are built-in enabling home buyers and sellers to communicate in a variety of ways with their agent.
Looking ahead, HomeBaseSM also has the capacity to drastically reduce the amount of paper used throughout real estate transaction process while also increasing internal operation efficiencies, as documents can be generated electronically and stored online.
“The real estate industry is arguably the biggest consumer of paper in corporate America, but also the furthest behind in applied advanced operational technology like cloud computing,” said Malcolm MacEwen, president and COO of Coldwell Banker Residential Brokerage, Arizona. “As the largest company in our industry, our parent company, NRT felt it was important for our company to take the leadership role on this critical issue.”
According to Coldwell Banker, the amount of paper required for the average real estate transaction is staggering, adding up to approximately 800 pages. It translates into roughly 8.4 million pages for a company the size of Coldwell Banker last year alone—the equivalent to 1,100 trees and a cost of $842,000.” adds MacEwen. “When you multiply those numbers times all of the NRT companies, you’re really able to see how much an impact this initiative can have on our industry as a whole.”
The system was first piloted by Coldwell Banker Residential Brokerage’s parent company in 2008, and in the first half of 2011 alone, more than 1.6 million documents were uploaded and approximately 18,000 clients logged in to use the system.
“Many of our customers are early adopters and fans of emerging and advanced technology applications and platforms, which is why so many homebuyers and sellers elect to work in coordination with a company like Coldwell Banker Residential Brokerage,” said MacEwen. “The implementation of HomebaseSM will also add significant value to our international real estate buyers and sellers, removing the dependency and costs associated with traditional forms of document transmission, like fax or air-mail.”
HomeBase was created by a real estate company with a comprehensive understanding to agent and client needs, so all of the features, functionality and scalability are customized to hyperconnect the agent and consumer throughout the transaction. “Clients who have experienced the use of this online tool have provided boastful feedback for this breakthrough technology, indicating that we understand and are delivering what they want from today’s real estate professionals,” states MacEwen.
The HomeBase transaction management cloud is a proprietary tool developed in-house by Realogy Corporation, a global provider of real estate and relocation services. Coldwell Banker Residential Brokerage is owned and operated by NRT LLC, which is a subsidiary of Realogy. NRT-owned companies operating in markets across the country are currently utilizing the HomeBase cloud solution.
About Coldwell Banker Residential Brokerage Arizona
Coldwell Banker Residential Brokerage in Arizona is a member of the NRT family of companies. With approximately 750 sales offices, 5,100 employees and 45,000 sales associates, NRT LLC is the nation’s largest residential real estate brokerage company. NRT owns and operates companies in more than 35 of the nation’s largest metropolitan areas; the company is a subsidiary of Realogy Corporation, the world’s leading real estate brokerage franchisor.