Forms AdvisorTM went live to the California Association of REALTORS® members on April 1st, 2008 extending an already outstanding array of member benefits aimed at risk mitigation.
Forms AdvisorTM helps C.A.R. members navigate their way through the forms available to choose which forms to use for any given transaction by walking the real estate agent through a series of questions about their transaction.
In a world where new rules for complex transactions come at REALTORS® fast, Forms AdvisorTM is the best possible way for professionals to know what documents are required for any real estate transaction. By using Forms AdvisorTM, a new agent can get a list of the exact forms that are needed for a transaction. An experienced agent can participate in a new type of transaction they may not be involved with confidently.
In California there are 150 forms used to process real estate transactions. There are also 200,000 members with about a 30% churn rate. The task of training each member on which form to use in every type of transaction is daunting. Forms AdvisorTM ensures that every member of C.A.R. has a tool which will help them choose the correct forms to use regardless of their experience levels. Forms AdvisorTM will help brokers ensure every one of their transactions is complete and comprehensive, supporting their risk management initiatives.
Top 10 Reasons for Forms AdvisorTM
1. 90% of CAR members use WINForms®
2. Right Form every time for every transaction
3. Instructions to complete forms correctly every time
4. No need to go back to client to correct a form
5. Advise the other side of the transaction on required forms
6. Create forms checklist for each transaction type
7. Always using the correct form version
8. Supported by the Legal Hotline
9. Only for CAR members
10. Legal Q & As at your fingertips
For the past year and a half, CAR has been working on a patented system and method to derive what many in the industry considered to be impossible. The Forms AdvisorTMsystem will provide the forms required for any real estate transaction in the State of California with legal confidence. The advisor evaluates more than 500 California legal rules governing more than 150 forms in the WinForms® Online and WinForms® Desktop library.
The usability of the system was outstanding during our overview. Every question came complete with mouse over tool tips, there was seamless integration into RELAY®. The solution even advised the agent by distinguishing forms required vs. optional, and which forms are new.
As with many products, the California Association of REALTORS® plans to distribute this product nationwide to large brokers, state associations, and MLSs.
The target audience for Forms AdvisorTM is any entity that operates with a library of standard forms representing a large group of real estate professionals.
The process of placing the logic into Forms AdvisorTM needs to be distributed across larger groups to gain ROI on implementation. However, the implementation process is rather straightforward. Create a forms committee to include a legal staff. Define the rules of using each document in prose.
From that plain language draft, CAR will generate the forms questions and program logic into the Forms AdvisorTM project. Test and deploy!
WAV Group is prepared to work with Statewide Associations, MLSs and large brokers to deploy this solution.
Upcoming training for CAR Members