Loft47 Expands Platform To Transaction Management, Compliance For Real Estate Brokerages

Loft47 has released software features expanding its platform beyond commission management to transaction management, compliance review and workflow coordination for real estate brokerages.

The company said updates allow brokerages to manage transactions from executed contract through closing within a single system — even when agents use different contract and e-signature tools.

Updates include automated deal creation from uploaded PDF contracts, signature extraction, configurable compliance requirements and workflow controls.

“Agents might be using whatever tool they want to and not necessarily adopting the brokerage’s defined set of tools,” Loft47 CEO Sasha Hryciuk told HousingWire. “So, we allow brokerages to use those options. We’re not taking that off the table. If you want to connect any one of your transaction management systems to Loft47, we can have data and documentation flowing through.

“This (service expansion) now allows them to just fire off a PDF of their contract, and we’ll do all the data extraction and compliance reviews automatically for the brokerage.”

Rather than requiring agents to standardize on a single tool, Loft47’s updated system is designed to capture data and manage compliance regardless of where contracts originate.

Loft47 estimates the new automation tools can reduce manual data entry and compliance review time by 50% or more for offices that previously relied on staff to review contracts by hand.

Measuring service benefits

Shea Orsten — office manager at Maxwell Progressive — said the changes have already reduced workload tied to compliance and data entry.

“We’ve been a Loft47 client for years and historically relied on external tools to manage deal workflows,” notes Orsten, whose brokerage supports roughly 125 agents. “With the new AI-driven data extraction and signature review, we’re already seeing a 25% reduction in workload tied directly to data entry and contract compliance.

“For a team that spends hours each day reviewing contracts, bringing that efficiency into Loft47 is a huge step forward.”

Hryciuk emphasized that even with a reduced workload for workers, plenty of room remains for a human to step in if needed.

“Because we deal so closely with the compliance around the funds, the escrow accounts, there’s always going to be a person in the loop,” she said. “But we can get super efficient on many more points during the lifecycle. There’s a compliance review at the start or the initiation of a deal, and then there’s a ton of compliance around closing.

“Once our data is structured and verified like this, we can automate a lot of those processes. So, our goal is really to have Loft47 do the work, and it’s the broker’s approval rather than the broker’s labor.”

With the update, administrators can create deals by uploading PDF contracts, with the system extracting key details such as addresses, dates, parties and deposit information.

“It’s flagging what should be there and identifying, let’s the user know, what isn’t there,” said Hryciuk. “For example, if we expect to see an initial next to a change in price or price reduction, something like that, and there isn’t a signature, it’ll flag it for the user. We’re looking more for exceptions — the red flag exposing risk instead of letting it slide.”

The platform also includes a centralized requirements page for each deal — showing document status, timelines and audit trails. Automated summaries notify agents of outstanding items while maintaining controlled visibility into deal progress for brokers and staff.

“(The service expansion) has been out in beta for about a month,” said Hryciuk. “One early user has a dedicated person doing five hours a day just reviewing contracts for signatures. So, it’s a pretty easy metric to watch for these busy brokerages. In the first week or two of using it, they can confidently say they saved 25%. That’s 10 hours a week, which is a week a month.”

Eliminating data hand-off risk

Additional workflow features include requirement templates that adjust based on deal type, location, transaction side and property type — as well as automated due dates tied to contract milestones.

Brokerages can also define custom review stages, apply color coding and create filtered views that function as task lists for managing brokers and administrators.

“When you move data from one place to another, that’s where a lot of the risk lives,” Hryciuk said. “Anytime you have a human hand-off, or even a system hand-off, that’s where you can get exceptions or not see the data flow through properly, or different users are just using a different system. So, by coupling the compliance with the financials, that’s where we’re seeing the biggest value for our users.”