BY – CRAIG C. ROWE – Inman
Trackxi is an app for managing the tasks and activities associated with closing real estate transactions, ideal for agents and small teams
Real estate process management
Trackxi is a transaction tracking and deal communication application.
Top selling points:
• Unique visual deal trackers
• Greatly reduces per-deal email
• Smart task management
• Client interaction
• Works alongside existing products
What you should know:
Trackxi is an app for managing all the little things that hamper progress between signature and closing. It’s not a clinical transaction manager, but more of an activity management solution, and it’s very good at it. It’s Trello, or Asana, for real estate deals. It includes task list templates, which can be
edited, visual, actionable timelines, dynamic calendering and a non-CRM contact management element relevant only to active deals. Communications are handled in-app and can include title and mortgage vendors, as well as clients, using permission-based views to ensure they’re not distracted by irrelevant business tasks. The intent of Trackxi is to support and inform users as to the who, when and what of a deal. Log in, find out, go about your day. Again, software needs to support a real estate professional’s business, not run it for them. There has to be give-and-take, human interaction to spur technological processes. In Trackxi, that idea is manifested in a number of ways, but is perhaps best represented by its graphical transaction journey, leveraged similarly to how Dotloop uses visuals to “close the loop.” Among other visualizations, the app displays an easily navigable snake graph, an interactive flowchart resembling a board game that is color-coded and task-based. It represents every milestone between contract and close, and the details of each are summarized at each step, and revealed in more detail upon selection. Color indicates task status.
This is as simple a method as I can think of to communicate the state of a deal to your buyer or seller because they can be given access to see it. It’s a much better method than delaying an email response to them about a voicemail not being returned from your lender. And speaking of email,
Trackxi’s founder, an active agent, counted the number of emails he sent to a client during a single deal, finding more than 190 messages containing minor updates and non-value add activities.
However, if you’re not a visual learner, no problem, as Trackxi and reduce the chart to a simple list or display it in a calendar view, with each task presented on its respective due date.
Every task created has a custom notes field, contact information for each party attached to it, and the ability to change its status, assign people to it and create due dates. Timelines are automatically created upon deal setup based on the closing date and will react to any changes an invited mortgage broker or bank lender inputs.
Deal flow within the app is rendered according to deal type, and the task templates are updated accordingly. Any user can modify and save any list, a nice touch for agents who sell in neighborhoods or condo communities with the same restrictive covenants, etc.
Trackxi isn’t offering a document engine or digital signatures, as it wouldn’t make business sense, and likely create redundancies with the market’s
current offerings. There is an integration with SkySlope to send parties out to complete forms. Links to document packages can be placed into task lists and notes fields for easy access, and when signing is complete, a user can update the chore in Trackxi. The app is designed to work around and in between what’s already being used.
The email component keeps messaging under the umbrella of each
respective deal, again ensuring everything needed to get a deal done is where it should be. It also offers a slick set of templates with pre-loaded mail merge fields to send granular, succinct deal updates, reducing the need to spend 30 minutes collating all the information before sending. Dates, names, escrow procedures and other information is auto-populated in seconds. Just hit send.
There are also a couple of slick value-adds for day-to-day business, such as a password storage center, in-app video training snippets and listing lockbox manager that tracks box numbers and combinations.
Trackxi is aiming for the everyday agent, and in doing so, might make it difficult to grow quickly. But, LionDesk did it, and remains one of the industry’s most popular CRMs. Its user experience helps, as it flattens so much for what hampers a new agent’s growth trajectory. It’s a great fit.
Teams and brokerages can use Trackxi, too. The pricing structures make it
ideal for scaling over time.
There’s a lot to like here, and I hope to see Trackxi gain traction, and push its founder into a new job.
Top concern:
Trackxi is a new release, and run by an active agent, meaning there may be some growing pains as the product grows and its founder learns the demands
of running a software business.
