Today, most professionals and businesses opted for an electronic way for smart and fast working, and real estate is one of them. Electronic signatures are increasingly popular in the real estate industry, allowing greater accessibility and convenience. Plus, allow sellers, buyers, and all other third-parties to sign a document digitally and securely while saving money, time, and resources.
What is an Electronic Signature?
Before moving towards “why real Estate Professional is considering electronic signatures,” it is necessary to understand “what is an electronic signature?”
An electronic signature is also known as an e-signature. It is the process of putting encrypted information on an electronic document and enforcing it legally. It allows the user to sign documents online, i.e., digitally. Depending on the electronic signature features, they provide many benefits to a real estate firm.
What are the different types of e-signatures?
Every industry wants to gain/expand from using electronic signatures. Still, it is important to note that not all electronic signatures are suitable for every industry documents.
There are two different types of electronic signatures i.e.,
- Dependent electronic signatures
- Independent electronic signatures
Both the types are lawfully accepted forms of electronic signatures, but the technology behind them is dissimilar.
However, the use of an electronic signature in real estate has many advantages. Here are some of the reasons for opting for electronic signatures by real estate professionals:
One of the biggest benefits of using electronic signatures for real estate agents and brokers is mobility. Electronic signature technology allows user to sign a document from anywhere virtually. Since many electronic signatures are sustained by cloud-based software, parties can electronically sign a document from their smartphone, laptop, or tablet without any hassle.
Time plays an essential role in every business and if we talk about real estate profession, a tiny hindrance in getting a sign on document from a seller could be the reason to loss the deal for your buyer. With electronic signatures, once the user signs the document, it is instantaneously and steadily sent to the original proprietor or chosen party to sign.
- Efficiency and Accuracy
Electronic signature technology may require mandatory information and signed fields, ensuring that a document is not submitted unless 100% complete. It decreases the number of unfinished documents returned and the time spent copying efforts on revised documents. Plus, an electronic signature reduces human error and the need to file or manage paperwork so you can spend time on more important tasks.
- Reduced Cost
Earlier each year, billions of trees were cut down to make paper, and it had skyrocketed with many percentages. However, to reduce the overall costs, such as paper, ink, mail, shipping, postage, printing, or extra mileage to deliver documents, there is plenty of signature software available online to improve the customer experience while reducing operational costs.
However, electronic signature technology is supported by cloud-based software, which eliminates the risk of fraud or theft and ensures that completion documents and other forms are signed and filed correctly. Account records are updated when customers make changes.
Real estate documents often contain confidential data and signify some of life’s most significant dealings and connections. And as you know the cybercrime is on the rise, so officers must be vigilant in protecting customer data and documents.
However, independent electronic signatures agents and their organizations can be assured that their documents are legally confidential and defensible. Plus, the proof of signature is incorporated into the document itself, making the document valid forever.
- Simple and Intuitive
An electronic signature is freely accessible on the Internet as it is simple and easy to use. Electronic Signature Software is available online, but you need a recommendation on which to use. The system offers document uploading, the recipient and signer declaration, and a secure delivery link to the recipient.
The process is complete once the recipient receives the documents or contacts and then signs them. Electronic signature in real estate made it quick and easy for the client to sign the agreement document and send it back to the sales agent in seconds.
- Better Customer Experience
With the rapid increase in technology, consumers are also constantly demanding fast and efficient interactions. Signature Maker can reduce the need to synchronize meeting times and locations to sign paper documents when they need them.
Besides, often a client is not available in a particular city or region. With this software, they can quickly review, understand the document, and sign it easily from anywhere.
In fact, in face-to-face interactions, clients find it difficult to read the stacks of paper thoroughly and rarely read what they sign because they feel pressured to complete the signing process. However, with this advanced technology, you can make your customers feel better and informed about documents and processes.
- Faster Turnaround Time
The use of technology and the convenience of electronics mean that there is excellent rotation in users simultaneously. Brokers and sales agents are making a big return from a large number of customers. Instead of the traditional way of sending a document to users to print, sign, scan, and resend, electronic signatures allow anyone to sign documents electronically in seconds. These rapid electronic turnarounds provide business versatility in time-sensitive situations.
Electronic signatures in the real estate industry have revolutionized the industry and increased its real estate sales. Customer information is secure, and transparency is enhanced.
However, the digital world is transforming according to customers’ and businesses’ needs every day. And now that you know how to make an electronic signature, you can experience why real estate is in love with this technology.