7 Reasons Why the Real Estate Industry Needs Electronic Signatures

In today’s ever-changing real estate market, the adoption of digital signatures upon real estate transaction documents is unavoidable. With the help of electronic signatures, what was once a long and tedious process has revolutionized to fit the efficiency of the modern world.

Electronic signatures are one of the aspects that minimize delays in business workflows. In 2018, there were 5.96 million homes sold in the U.S., and this figure is expected to increase to 6.12 million by the end of 2020. Electronic signatures are gaining momentum in the real estate industry as a result of the large number of real estate transactions that take place annually

E-signatures became popular as they offer several significant advantages over their old-fashioned, wet ink counterparts. These benefits include:

Convenience

Clients may be on vacation or maybe looking to relocate and searching for a house from out-of-town. When dealing with these types of clients, it can take days to get their real-life signature. 

The convenience of e-signatures can significantly streamline the entire process. E-signatures can assist businesses in avoiding delays caused by paper documentation while creating more time for agents and brokers to focus on maximizing their real estate performance.

You can e-sign all the documents literally anywhere. If you have a mobile device, a computer, or a tablet, you are in business!

Efficiency and Accuracy.

Changes or errors that might occur in a record during a transaction while transmitting it between parties may have significant consequences. Without the need to manually fill or sign a document, the chance of errors goes down. When you fill in an electronic document and eSign documents, you are unable to submit it until you add all the mandatory info. This is a fail-safe way to ensure you have all the information you need.

Cost Saving

The total cost accrued starting from purchasing, printing, scanning, copying, sending, and then managing the papers precedes the cost of operating an electronic signature platform. With e-signatures being supported by cloud computing, there are no overhead expenses. Real estate agencies using e-Signature tools can cut down document handling costs by as much as 85%.

Better Security

Another benefit of electronic signatures platforms is that they bring enhanced security that prevails with their use. While you can easily lose papers, this problem is entirely eliminated with the use of e-signatures.

ESign Genie gives you an easy-to-use layer of insurance against fraud. Our e-signature tool boasts 256-bit encryption to protect all of your documents. It is more secure than putting a stamped seal on an envelope or a handwritten signature at the end of a document or letter. These security measures solve problems such as impersonation and tampering with transactions.

Simple to Use

The e-signature is easy to use, and you can access the documents from anywhere at any time. E-signature services include the uploading of documents, the statement of the recipient/signer, and the secure delivery of the documents to the recipient. Once the recipient receives the documents or contracts, they can sign them and complete the process.

By using e-signatures such as eSign Genie, the entire real estate process will be faster and easier. Allowing sales agents to receive the required signed agreements within seconds.

Quicker Turnaround Times

With the convenience of technology, brokers and sales agents are able to offer turnaround times that are much quicker than printing, scanning, and sending paper files back again would be. The electronic versions of documents are great in time-sensitive situations where there is no time to waste on extra tasks.

Time-Saving

Real estate transactions call for stacks of paperwork. We’re talking of around 180 sheets of paper give or take in some states. If only you could seal the deal with a handshake and a smile, and be on your way.

E-signatures save time. With e-signatures, once the user signs the document, it is instantly and securely sent to the original owner or to the party that needs to sign next. E-signatures reduce bottlenecks that usually occur when using paper contracts and forms. On average, the traditional method of printing forms then signing, scanning, and emailing them takes more than 5 days from start to finish. While the use of an e-signature solution reduces the time to just a few minutes. 

In Conclusion

Digital Signature software such as eSign Genie are revolutionizing the real estate industry. It is increasing the property sales turn out while keeping client information secure. If you haven’t gone the way of the e-signature, you should absolutely be considering it.