Accruent acquired Lucernex in 2017 to boost its IWMS or asset management portfolio. Lucernex Lease Administration & Accounting is a real estate lifecycle management platform emphasizing compliant financial contracts and accountancy.
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Dotloop
Score 6.2 out of 10
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Dotloop is presented by the vendor as an all-in-one real estate transaction management solution that gives brokers and teams full visibility into their business and empowers agents to close deals. It is now a property of Zillow (acquired 2015).
I believe Accruent is well suited for companies with a large amount of leased assets that need to be accounted for under the new accounting standard. Companies with fewer leases would not need an intricate tool of this size. It is suited for both real estate and equipment leases, which makes up the entirety of our portfolio.
In Real Estate sales and property management, Dotloop will be your best friend. When you need clients or tenants to sign a lease or a contract, sending through dotloop is extremely easygoing and keeps everything organized pertaining to what you name the loop. I think I speak for my whole office when I say that without dotloop, our lives would be a disorderly mess, and we would find ourselves losing papers and becoming confused. Dotloop really helps our office like no other and has great support along the way!
Lucernex does an excellent job of listening to its customers to continue enhancing the product to make it the best in the industry and to continue to partner with their customers on this endeavor.
Lucernex's product is an intuitive product that allows its end users to customize and manager their own fields and pages to tailor individual company's needs.
Dotloop has a great user interface. The features that seem small but are a huge help such as automatically scrolling to where the person needs to review and sign is very creative.
It has been great to be able to pull documents from the app on a mobile device to a web browser on a desktop.
It is very easy to organize documents (add, remove, arrange, edit, etc.)
The Brokers I've connected with that used Dotloop in the past have also had the same issue I had. Their relationship with "thousands" of MLS listing services is not true. No one took responsibility for not communicating this early on. Everyone just pointed the finger at other departments and did absolutely nothing to alleviate the situation.
To add insult to injury, the system crashes during peak usage, making it near impossible to submit offers promptly. If requested I am more than open to provide the video showing both when the system crashes and the aforementioned issue
Good support but onboard training could probably be a bit better as well as documentation. But we rarely need support as the software works flawlessly once you know how to use it. Very happy with support so far and I recommend the product.
The trainers were knowledgeable and engaging in presenting the materials, and their emphasis on important concepts was helpful (I would rate the trainers themselves a 9!). However, I do not believe there's anything we learned in the in-person training that could not have been taught via live web-classroom. Traveling a significant distance (in our case) to Austin, TX for only approx. 12 hours in the classroom was (in my opinion) not necessary, since the same material could have been presented via live web-classroom and saved us the expense and travel-time. I would encourage Lucernex to consider moving to a live web-classroom format in the future; an online live format would still allow for participation and questions from the participants while saving clients' time and money
I cannot recall exactly what other products we reviewed before choosing Lucernex, but one of the leading factors was how highly customizable the software was. We had previously been using Retail Lease which was an older program with buckets of data stored everywhere. During the data mapping process, we were able to easily find a home for all of this "random" data
I personally feel that Dotloop is much more organized and easier to use. It feels more efficient to use and I have noticed the majority of the people I work with are more aware of Dotloop and trust it more
Lucernex was able to complete our business objective to manage and process all of our Lease Accounting entries within the software.
Lucernex has enabled all of our departments to become better connected, work together to create synergies and transparency to better meet business objectives.
