Business & Finance

The Advantages of Completing Real Estate Transactions Online

Completing real estate transactions online is essential for several reasons. For one thing, it expedites the closing process. Secondly, you save money on commission. Third, e-signatures help close a deal faster. And finally, you can organize your contacts with a real estate CRM tool.

Save Sellers Commission Money

Selling a house without an agent may be an option for sellers who want to avoid paying a commission. Will real estate agents become extinct then? The primary advantage of selling this way is the chance to save money. A typical commission is approximately 6 percent. But selling a home without real estate agents or realtors can be risky. Often, sellers have no idea what they’re doing, and they learn on the fly. As a result, they may end up underpricing the home or overpricing it. This can result in a lower sale price and a disinterested buyer.

Another disadvantage of selling a home without an agent is hiring a professional photographer. Depending on the number of photos, this may cost a few hundred dollars. 

E-Signature Expedites Closing

An e-signature is a digital signature used to facilitate the closing of real estate transactions. Using this technology allows the seller and buyer to complete essential documents in an online form, which can be signed with a click of a button. In addition, eSigning can significantly reduce paperwork, reduce errors and ensure compliance with legal regulations.

Real estate transactions are complex and require many documents. A secure and compliant e-signature solution such as jSign can streamline the closing process. In addition, this solution offers many features, including the ability to store data in the cloud. Other features of jSign include document management, audit trails, and blockchain stamping.

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Typically, a real estate transaction closes when all parties have signed all necessary documents. The traditional process requires the parties to visit the real estate attorney’s or title company’s office to sign the paperwork. With an e-signature, the signatures are digitally based, and an electronic notary’s seal and certificate are attached to the documents. This process can be completed in person or remotely via audio or video.

Organizing Your Contact List With a Real Estate CRM Tool

A real estate CRM tool will help you organize your contact list and streamline communication with your contacts. These tools allow you to send automated emails to your contacts right from your Gmail account and personalize them with custom templates. This means that you’ll spend less time switching apps and more time building client relationships.

Your contact list comprises various people, ranging from current and former clients to leads at different stages of your funnel. It may also include other real estates professionals such as lenders, attorneys, contractors, and fellow agents. Ideally, your contact list is divided into categories. By grouping them by type and relationship, you can send personalized messages to each of them.

Importance of Completing Real Estate Transactions Online

In the real estate industry, one of the most important aspects is the efficiency of the sales process. This can be achieved using CRM (customer relationship management) software, which helps agents manage their time efficiently. For example, with this kind of software, they can set follow-up reminders with potential buyers and track their activities. In addition, they can easily tag and classify leads, either warm or cold. With this system, they can streamline their sales process and save time and money.

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Another significant advantage of property technology is the speed at which transactions can be completed. Traditional CRE transactions are lengthy and labor-intensive. The property owner must interview agents, receive property valuations, run marketing campaigns, and negotiate prices. These processes can take up to 30 days, not to mention the time spent on the contract review and pricing negotiations. In total, the transaction can take up to six months. With an online platform, the time for all these steps can be significantly reduced.