Frequently Asked Questions
- What is WysLoop?
- Who can sign up for a WysLoop account?
- How long does it take to sign up?
- How much does it cost?
- Is WysLoop Safe?
- How does WysLoop help Real Estate Agents?
- How does WysLoop help Escrow Agents?
- How Does WysLoop help Loan Officers?
- Do you offer support?
- Who creates transactions?
- How long does it take to create a transaction?
- When I invite someone to be part of a transaction how do I know if they are a WysLoop, WysHome, or WysVendor user?
- How does WysLoop work with WysHome & WysVendor?
- If I use the same people on all my transactions will WysLoop remember them?
- How long does it take someone I invite to sign up?
- Do any parties I invite into the transaction have to pay?
- How is WysLoop better than Relay, SureClose, PaperlessPipeline or others?
- Will WysLoop work with ZipForms, RealFast or my own MLS?
- Does WysLoop offer E-Signature, Fax or email document upload?
- Can WysLoop be used as a broker or office compliance tool?
- How often does WysLoop add features or improve the site?
- If it is free how do you make money? I mean are you going to charge me later?
- What is WysLife?
Frequently Asked Questions
What is WysLoop?
WysLoop is a collaborative web-based transaction management software for real estate agents. What does that mean? Basically we create an online platform for real estate agents to invite everyone who is involved in transaction to interact seamlessly with everyone else. Users can send direct messages, post on the community forum, upload and share documents, follow transaction events, see contact information for everyone involved in the transaction, and much more.
Who can sign up for a WysLoop account?
Licensed real estate agents, escrow agents and loan officers. Other users get access to WysLoop through WysHome (sellers & buyers) and WysVendor (appraisers, inspectors & others).
How long does it take to sign up?
About 2 minutes. It’s a very simple three-step process.
How much does it cost?
WysLoop is 100% free, no premium services, cost for storage or anything! We are the only free real estate transaction management software available and we will always be free.
Is WysLoop Safe?
Yes we are very safe, in fact we are probably a lot safer than your current system. WysLoop and WysLife are focused on delivering the most secure platform possible for everyone involved with the transaction. Every one who accesses the transaction must have a secure password to access our site and once they access the site every thing is encrypted with 256 SSL encryption. We host our website on Amazon’s EC2 and S3 servers which use the industry-leading standards to make sure users information remains secure. All user content is backed-up on multiple servers around the US so you know the transaction will always be safe. We never share users information in any way that would create a privacy concern.
We use strict privacy controls so the user who uploads a document, message or event always controls who can access that content.
How does WysLoop help Real Estate Agents?
WysLoop frees up agents by instantly keeping everyone in the loop at all times. No more games of telephone or relaying messages between buyer, seller, escrow officer, loan officer, seller agent, buyer agent, inspectors, appraisers, and everyone else.
WysLoop helps others do their jobs more effectively. Escrow officers, loan officers, appraisers, inspectors, sellers, buyers and anyone that is invited into the transaction can upload and share documents, view contacts, and send messages. Once they complete the task everyone gets an instant notification and can login to access the information. This keeps the agent in the loop at all times, but removes the burden of always being the middle women/man.
Additionally WysLoop keeps all agents transactions organized, giving agents a quick glance of the stage of their transaction and what needs to be done. WysLoop automatically keeps everything linked to a transaction so all documents, messages, contacts and events are always organized by transactions. After a transaction is closed or canceled we file all of this information so you can access it at any time.
Finally WysLoop is the only service that helps the buyers & sellers at every stage of the transaction. WysLoop not only assists the buyers & sellers through a transaction, it also educates them about everything in the transaction. Then at the end of the transaction all their important documents are stored and organized in their WysHome account. WysLoop improves the real estate transaction for the buyer and seller!
How does WysLoop help Escrow Agents?
WysLoop allows escrow agents to work with multiple real estate agents on multiple transactions and know right away the stage of each transaction. Escrow agents can post documents throughout the transaction and upload documents after signing. When uploading documents escrow agents can decide who will be able to view the documents so there is never any privacy concerns.
With WysLoop’s unique document name procedure all documents are immediately organized and everyone knows what document they are receiving.
At the end of the transaction the escrow agent can upload a file complete with the Deed, Note, HUD-1, Mortgage and all other documents which will automatically be neatly organized, and stored on the buyer’s WysHome account.
Escrow agents will also have a permanent record of all the transactions they work on and documents they upload.
How Does WysLoop help Loan Officers?
WysLoop allows loan officers to work with multiple buyers on multiple purchases and know right away the stage of each transaction. WysLoop also allows loan officers to quickly update everyone on the stage of the loan with a few simple clicks, often removing the need for status checks or loan status update. WysLoop is a very useful site for Loan Officers to share disclosures with buyers as well to have buyers upload and share documents with loan officers. None of those pesky size restrictions on emails and when you share with WysLoop all our documents are stored behind a password protected site with 256 SSL encryption.
Loan procedures that a loan officer know like the back of their hand, can be very confusing to outsiders. WysLoop helps buyers understand every step of the loan transaction, making the loan officer’s job a lot easier.
Do you offer support?
Yes we offer a full suite of tools that will support users. We have how-to videos that cover nearly every aspect of WysLoop and we are always adding new videos. We also host live webinars where you directly interact directly with one of our customer service agents. We have great documentation and FAQ section that covers are the most common questions. Of course, you can always contact us directly if you have any other questions.
Who creates transactions?
Either the buyer’s agent or the seller’s agent can create transactions. Escrow officers and loan officers must be invited to a transaction.
How long does it take to create a transaction?
A transaction can be created in as little as 2 minutes. We suggest that when creating a transaction you have the Purchase Contract with you, as you will be entering information off that document.
When I invite someone to be part of a transaction how do I know if they are a WysLoop, WysHome, or WysVendor user?
You don’t have to. We take care of it for you. All you need to know is their email and name. If the person you invite is already a user then we send them a link to accept the invite and if they are not a user yet, we create an account for them and send them an email with all of their login information and a link to join the account.
How does WysLoop work with WysHome & WysVendor?
WysHome is the buyer & seller platform. WysVendor is the Vendor (Appraiser, Inspector, Plumber, Electrician, ext.) platform. WysLoop works with WysHome and WysVendor so that everyone can have different levels of access to the purchase of a home. WysHome users get full access to the transaction, while WysVendors have a limited ability to access the transaction, based specifically on what their role in the transaction is.
At the completion of the transaction WysHome users lose access to the specific WysLoop functions and information but they keep access to all documents, contacts and events that were shared with them through the WysLoop transaction. This information will stay with them as long as they continue to access WysHome.
Learn more about WysHome and WysVendor
If I use the same people on all my transactions will WysLoop remember them?
Yes. When you invite members to the transaction we populate a list under the text box you are writing in with a list of previous users you have invited in the past.
How long does it take someone I invite to sign up?
About 2 minutes or less.
Do any parties I invite into the transaction have to pay?
No it is 100% free for everyone!
How is WysLoop better than Relay, SureClose, PaperlessPipeline or others?
First and foremost, we are FREE! This saves agents and brokers thousands of dollars every year, but we still offer support and the all of the premium features you get with those other services. Second, WysLoop is part of a larger system that looks at the whole lifecycle of home. We believe the sale/purchase of a home is a huge part of owning a home, but it is only a part. By looking at the whole picture, we help make everyone’s job easier by streamlining the sharing of information throughout all stages of a home. The biggest difference is our system makes life a lot easier for you and most importantly it makes life easier for your buyers and sellers. Our system stays with your buyers as long as they own the house, so the work you do for them during the transaction helps them the entire time they own the house.
Will WysLoop work with ZipForms, RealFast or my own MLS?
Yes, by saving forms to your computer you can easily upload those documents to WysLoop.
Does WysLoop offer E-Signature, Fax or email document upload?
Not yet but we are working on all of these and we will notify users once they are available.
Can WysLoop be used as a broker or office compliance tool?
As of right now we do not suggest you use WysLoop as a standalone broker or office compliance tool. WysLoop can work in conjunction with any digital or physical system and will keep a detailed record of documents, communications and events for every transaction. WysLoop will also assist in collecting important documents for agents and has convenient download functions so that agents can either print or move documents into any compliance system. We are working to make WysLoop a more fully functional compliance tool.
How often does WysLoop add features or improve the site?
We have a growing development team, and we are constantly adding features as well as improving the functionality of WysLoop. We always welcome suggestions.
If it is free how do you make money? I mean are you going to charge me later?
No. We are never going to charge users. Like Facebook, LinkedIn, Flicker and other free services you use everyday we make money by providing small helpful ads and services to our users.
What is Wysloop?
WysLife Incorporated is the formal company name and the parent company for WysLoop. WysLife focuses on making software that makes building, selling, buying, owning and living in homes easier for everyone involved. WysLife uses collaboration at every stage so that home information only needs to be entered once and then it can be shared for the life of the home.