If you’re a realtor, you’re always looking for ways to be more efficient and offer your clients a convenient, fast and secure real estate transaction. Using electronic signatures allow you to speed up your transactions without being slowed down by never-ending paperwork.
Are you leveraging electronic signatures for your real estate transactions?
Find out how to do an electronic signature to turn extensive paper processes into secure online transactions. Online signatures go hand-in-hand with today’s active, on-the-go home buyers.
Implementing online signatures lets you and your clients sign negotiation documents, loan applications, home offers and negotiation transactions in real-time.
Types of Electronic Signatures
If you’re a real estate professional, it’s important to understand the two types of electronic signatures. These are dependent and independent e-signatures. Both types are legally acceptable but they differ in the technology they use.
A dependent electronic signature links your clients’ signatures to your vendor’s server. This works well for temporary signatures but might not be useful for long-term, future evidence.
Since the signature is on a server, it’s in danger of being lost by broken links or unavailable internet access. You also risk losing the signature if you stop doing business with your vendor or if there’s a catastrophic incident.
Unlike dependent e-signatures, independent electronic signatures don’t rely on your vendor to prove the signature authenticity. Rather, the technology used embeds the signature into the document itself using cryptographic data.
If you or your real estate client open the document in a PDF, the signatures will appear. This gives you visible, permanent evidence that the real estate documents are legally signed. With the availability of physical signatures, you build trust and transparency with buyers and sellers.
Which Type of E-Signature Is Right for Your Real Estate Transactions?
When choosing which type of electronic signature technology to use, think about the types of documents you’re having signed.
Here are some important questions to ask yourself before choosing dependent or independent electronic signature technology:
- Are you using e-signatures for high-risk or low-risk transactions?
- What are the real estate industry compliance regulations for e-signatures?
- Will you need to prove legal defensibility in the future?
- Could your e-signed transactions ever be needed in court?
For important real estate transactions and when you need legal assurances, independent e-signatures are the best option.
If you only need e-signatures for temporary transactions, then dependent e-signatures are acceptable.
Here’s How to Do an Electronic Signature
Knowing how to use technology for property transactions is the key to being successful in real estate. You can find online tools that can help you manage and authorize the electronic signatures you process in your transactions.
If you’re new to real estate, there’s nothing as satisfying as getting your first contract signed by a home buyer or seller that you’re representing. Digital signatures help you spend your time building relationships with your clients instead of following paper trails.
Knowing what to look for in an electronic signature company will help you choose the right one for your needs. Once you select the company, they will show you how to do electronic signatures using their specifications. Usually, you just have to upload the document to your e-signature company and follow the steps provided to sign it.
Consider these features when selecting a real estate electronic signature company:
Make sure you ask about the company’s security and backup solutions. You want to ensure that if they have a software glitch, all your real estate transactions will be secure.
For added security, verify that the company uses encryption technology to verify the digital signatures.
What type of integration does their software allow? For example, how do they work with other storage tools like Google Drive and Dropbox?
Ask if you can upgrade to more cloud storage if you reach your limit. Is it an easy process to upgrade?
If you use transaction management software, make sure the company can integrate with your management tools. Also, find out if they offer assistance to help manage and upload your digital signatures.
Real Estate Form Compatibility
Before selecting an e-signature company, you want to ensure that it’s compatible with all real estate association forms.
One of the biggest benefits of e-signatures is mobile device options. Your buyers and sellers carry their mobile devices wherever they go. When researching companies, find out if their services are mobile-friendly.
Ask about support options for you and your clients. Some of your clients might not be comfortable with only online chat or email support. They might want to talk to someone on the phone. So, make sure you know the types of support the company offers.
Benefits of Electronic Signature in Real Estate
In this competitive real estate market, minutes can make the difference in whether you close a deal or not. With electronic signatures, you can prepare documents quickly and get your clients’ signatures anywhere and anytime.
Other benefits of using e-signatures:
- Simplifies real estate contract signing
- Saves hours on paperwork
- Eliminates signing errors
- Makes closing deals quicker
- No waiting for return faxes
- Eliminates travel time
- More economical than paper documents
- Going paperless is eco-friendly
- Get signatures from mobile devices
- Execute agreements with buyers and sellers electronically
- Increase sales and client satisfaction
- Safe and secure
- Legally enforceable signatures
These electronic signature benefits guarantee that your real estate business stays competitive and enhances growth.
Grow Your Real Estate Business with Electronic Signatures
Now that you know how to do an electronic signature, you can experience speedy real estate transactions. Both you and your clients will have peace of mind knowing their signed documents are secure and processed quickly.
This could mean having a home buyer approved for their dream home or lose the sale to someone else. Keep your real estate closings moving with the speed and security of e-signatures.
Check us out for e-signature options to make your real estate transactions easier and quicker with state-of-the-art e-signature technology.