Real Estate Buyer Transaction Tracker Designs
Product Thinking, UX Strategy, Mobile-First, Interaction Design, Usability Testing, Visual Design
Overview
For this project, we aimed to streamline the end-to-end buyer experience from offer to closing in a real estate purchase transaction.
The goal for this particular project is to re-design this existing Roofstock Transaction Tracker to provide better transparency for our buyers on where they are in the transaction process, with the hope that it will ease buyer anxiety as well as reducing the number of times buyers email/call to ask for status or next steps.
Challenge
Once a buyer makes an offer on a property through Roofstock.com, buyer has no way to know which step they’re in during the closing process, unless they email and/or call the Transaction Coordinator (TC) to take actions on the next step. Since many stakeholders are involved in order to close a real estate transaction, email chains between buyer, TCs, lenders, appraisers, inspectors, etc. can easily get lost.
My Role
I was the lead designer for this project. Partnering up with my designated product manager, we came up with a 3-phase plan to convince our stakeholders to kill two birds with one stone. The first phase is this Buyer Transaction Tracker, which is our minimal viable product (MVP) that we successfully launched in mid-October 2020.
Not only did we provide our buyers a better closing/transaction experience, but we were also aiming to solve some our internal users’ pain points by reducing their heavy workload of manual emailing and calling back and forth to get stakeholders to take actions.
Solution
This MVP was launched on October 14, 2020, and after a month of tracking, we’ve successfully increased our daily visitors from ~1–5 per day to ~60 per day, as buyers are eager to know if their transaction status has moved forward. For Customer Satisfaction (CSAT), we’ve achieved a score of 82 after a month of tracking. As of December 2020, the CSAT has increased to a score of 100. Our buyers have really enjoyed the transparency and usability of this tracker since its successful launch.
Our internal transaction team has also reported that the volume of manual emails/phone calls have significantly reduced because buyer are being more proactive in completing tasks in order to close the property transaction.
- See Confluence Design Documentation for in-depth details
- See Roofstock Blog: Roofstock Launches Transaction Tracker to Simplify Real Estate Closings Online for press
