Building on the momentum of last year, we kicked off 2022 by making some major feature enhancements to our platform.

Over the past three months our Development team worked tirelessly on the expansion of our Reservations feature. Whether you are a Developer, Project Marketer, Brokerage team, or an Administrator, Manager or Sales Rep user, this feature provides full control and visibility through digital reservation agreements that can convert easily to contracts and detailed reports.

In addition to these Reservations enhancements, we pushed out some major value-adds to Deposit List Filters and Contract Settings, increasing accuracy and efficiency for Administrative and Conveyancing teams.

Read more about our Q1 updates below as well as a sneak peek on a much awaited product feature set for early Q2 release.

Reservations Feature Expansion

This quarter we implemented notable feature enhancements to how you handle unit reservations. Spark’s Reservations feature fully replaces a separate system like Excel or custom built web form — and provides full visibility into the reservation activity on your projects.

Building upon our existing functionality, we intentionally imitated the Digital Contract experience for familiarity so you and your sales team can effectively prepare, generate and send reservation agreements to secure prospective home owner commitment. You can even create a reservation specific stepped process using our popular CSP builder.

Reservations are seamlessly converted to contracts with a single click and all reservation details will directly apply to the contract record, including reservation deposits.

Deposits, projected revenue and reservation statuses for your conveyancing team or financial institutions are accurately reported and we even extended our project roles for your administrators to choose reservation or contract writing eligibility on your project.

To learn more about how Reservations can enhance your next project launch, contact your dedicated Partner Success Manager or reach out to our Sales team at hello@spark.re.

Deposit List View Filters

In the new development world, we understand each contract can have multiple deposits leading to hundreds of individual deposit records on a project. With deposit list filters, conveyancing and administrative teams can target contracts and reconcile payments in seconds.

Deposit due dates are often a moving target. We went one step further by adding the ability to update due dates en masse — this feature is a massive time-saver for administrative and conveyancing teams by removing manual, single entry for date changes/payment reconciliation.

You can also filter by payment status, deposit structure, deposit name, unit details and due dates and of course, send deposit reminders to homeowners. Future feature innovations include support for deposit types such as Options & Upgrades and Parking.

Contract Settings: Default Signing Order

In an effort to further streamline the Digital Contracts process, Spark’s new Default Signing Order in Contract Settings reduces clicks during signature request, allowing your team more efficiency when doing deals.

Set a signatory order via Contract Settings and pre-select delivery methods to either In Person or Email. Should the delivery methods be altered on a case-by-case basis, your team will still have the flexibility to switch it up prior to signature send.

You can also enable additional signature settings such as CC’ing Agents, Lenders, Legal, Conveyancing, and more. This small improvement carries a big impact as it ensures contract documents are sent to the right entities ensuring your external parties receive the documents they need as part of the transaction.

Integrated Parking Management

In the new development real estate industry, tracking parking stall activity tends to be extremely cumbersome and disjointed process. When dealing with everything from included stalls, stalls for sale, upgrades and total revenue, there is ample opportunity for error, especially when trying to manage through spreadsheets, which aren’t always standardized from project to project.

To solve these issues, Spark’s fully integrated Parking Management feature empowers your team to regulate parking stall inventory from a macro and micro level throughout the entire project lifecycle.

To prevent parking stalls and/or upgrades from being oversold, your administrative team can set sale limits, making it foolproof for your Sales Team during a busy launch. This feature also allows you to allocate prior to sales, manage additional stall sales, and assign parking with their corresponding stall numbers during the completion process.

Small car? EV? Oversized? Accessible? No matter what type of stall, Spark makes the allocation and tracking of parking units straightforward and painless.

Learn how top North American developers sell out projects with Spark by contacting hello@spark.re.