Role of Digital Signatures in Real Estate Deals | DrySign By Exela

 

Role of eSignatures in Real Estate Deals


Modern business moves fast, and only the sectors capable of keeping up with the pace while adapting to the change can eventually survive. The same applies to the real estate industry, which, like other sectors, has its share of ups and downs. The real estate industry banks on agents and brokers to sell properties on time. However, these professionals are often slowed down by tedious paperwork and the endless wait for signatures to be procured and processed, leading to delays in signature workflows. As a result, real estate professionals end up losing out on valuable clients and time. However, new-age tech like digital documentation and electronic signatures have simplified the process considerably, allowing professionals to circumvent time-consuming functions like scanning, printing, and delivering physical documents.

Digital documentation enables real estate agents to send proposals, agreements, and other vital documents to clients, in just a few clicks, from anywhere, anytime. In addition, online storage helps them easily fetch old documents in case of any last-minute hiccups. With digital documentation also came the solution of digital signatures, a modern solution of providing consent on property documents. Thanks to digitization, now owners can sell or buy their properties with the help of a broker from the convenience and safety of their homes.

87% of all buyers purchased their homes through a real estate agent – National Association of Realtors

Expectations from a Real Estate Broker

Buying and selling homes are one of the most significant transactions for clients and need to be done while maintaining prudence. Real estate brokers and agents play a vital role in ensuring the entire process becomes hassle-free and is done efficiently. While choosing the right agent, here are some suggestions that could come in handy:

  • Honesty and Transparency – The agent needs to be transparent in his dealings and should be upfront on any charges or extra documentation required in the transaction. Choose an agent with a spotless track record and positive referrals from other customers.
  • Constant Communication – The agent must keep the communication flowing with the client and keep him/her abreast of all the developments. The client must be kept in the loop of any inspections or appraisals of the property.
  • Technology Savvy – The agent should be comfortable with digital solutions. It helps clients save expenses on unnecessary travel and enables them to sign from anywhere, anytime.
  • Availability – The agent should be available to the client and lend a patient ear to their limitless queries. He should be prompt in his replies via text, e-mail, or chat.
  • Negotiation Skills – The agent should possess strong negotiation skills to make sure the client gets the best deal possible.
  • After-Sales Service – The agent should provide stellar after-sales service to clients, which can help in getting referrals and improve business relations.

Also Read: Electronic Signatures: Simplifying Operations for HR Staffing Firms

A Small Primer on Digital Signatures

Digital signatures are used to verify users' identities and preserve the document's integrity. They adhere to technology like Public Key Infrastructure (PKI), a set of policies and laws to secure data in digital documents. It employs two keys, a public key given by the signee and a private key held by the recipient, to authenticate the user's identity and protect the information from fraud or theft.

Digital signatures are increasingly used in agreements to conduct transactions and deals, helping minimize the risk of fraud and protecting both parties from document tampering. In business workflows, digital signatures expedite efficiency and improve document management. Moreover, digital signature solutions provide a seamless user experience allowing users to store documents and make changes in agreements and forms. A real-time trail also allows users to witness the signing status of documents.

How Digital Signatures Benefit the Real Estate Sector

  • Advanced Security
  • Real-time Transparency
  • Provide Convenience
  • Gain Trust
  • Curb Expenses

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