When you’re in the business of buying and selling homes, the less paperwork you have to handle, the better. That’s where an electronic signature comes into play. This technology allows you to sign contracts and other documents electronically, which means less hassle and fewer delays. For many real estate companies, using an electronic signature tool is becoming the new standard for creating legally binding agreements.
Keep reading to learn more about using electronic signatures for real estate transactions.
7 Benefits of Using an eSignature for Real Estate
Electronic signatures are commonly used for contracts, forms, and applications. They’re legally binding in most countries, including the US. This means an eSignature has the same weight as a handwritten signature and can be verified through an encryption algorithm.
Using an electronic signature can save much time and effort if you’re a realtor. A few key benefits make using eSignatures a compelling practice for your real estate operations.
1. Close Deals Quickly
The last thing you want as an agent is to wait for your client’s signature. With an electronic signature, you can get a signed agreement quickly and use the time saved to work on other important tasks. All you need is your client’s email address. You‘ll get an email notification once they sign the document, so you don’t have to wonder whether or not it has been completed. Moreover, the electronic signatures you create are legally binding, so you can rest assured they will hold up in court.
2. Seamless Contract Delivery
Gone are the days of emailing or mailing contracts back and forth for regular real estate transactions. With an electronic signature, you can deliver agreements electronically without ever leaving your office. Your clients can sign legally binding real estate documents from their computer, smartphone, or tablet—all in one centralized place.
3. Sign on the Go
If you’re meeting with a client who’s ready to sign a contract, you can pull it up on your phone or tablet and have them add their signature right then and there. There’s no need to wait until you’re back in the office. Plus, you can easily sign contracts remotely on your mobile devices if you’re ever out of town. eSignature software can help reduce the need for in-person meetings and save you and your clients precious time.
4. Handle Different Types of Contracts With Ease
Real estate agents have to deal with various real estate transactions daily, including:
- Rental agreements
- Escrow
- NDAs
- Financing addendums
If you’re still using a pen and paper for these contracts, it can be challenging to manage your daily flow of paperwork. However, with an electronic signature for real estate, you can easily sign and manage these contracts digitally—.in one central place.
5. Greater Client Satisfaction
Most clients appreciate using digital tools for real estate transactions; they’re just as convenient for them as they are for you. Clients can easily sign real estate contracts, such as month-to-month rental agreements, from the comfort of their homes without coming into your office. And if they’re out of town or unable to meet in person, they can still sign contracts using their mobile device. This convenience can lead to greater client satisfaction, which can greatly contribute to your success in the industry.
6. Ensure Security and Compliance
Security is a top concern when it comes to handling sensitive information on documents, especially when it comes to contractual real estate agreements. With an electronic signature for real estate, you can rest assured that your contracts comply with all applicable regulations. Digital signature tools use cutting-edge encryption technology to protect your data and ensure that authorized parties can only access it.
7. Reduce Business Costs
Another significant benefit of using an electronic signature for real estate is reduced business costs. Printing and mailing paper contracts can be expensive—especially if you’re working with a high volume of documents. With electronic signature software, there’s no need to print paper contracts or email them back and forth. You can handle the entire rental property management process digitally from a centralized place—saving time, money, and hassle.
eSignature for Real Estate Use Cases
Electronic signatures are a legal and secure way to sign documents digitally. This technology is growing in popularity across real estate companies, as it can save businesses significant time and money.
In real estate, there are many ways that eSignature solutions can be beneficial.
Sign Leases and Rental Agreements
One of the most common uses for eSignatures in the real estate industry is for signing leases and rental agreements. With an eSignature solution in place, you can streamline the lease signing process by sending documents electronically and having them signed quickly and easily—all from the comfort of your own office or home. Whether you’re preparing a property agreement or escrow paperwork, the electronic signature process not only saves you time but also cuts down on paper waste.
Track Real Estate Contract Lifecycle
Another way to use electronic signatures for real estate purposes is for tracking the contract lifecycle, a.k.a. keeping tabs on where a contract is at any given stage of signing. Most eSignature solutions come with built-in document tracking features, allowing you to see each signed document at a glance. This can be helpful in many situations, such as when you need to determine which clients haven’t yet paid their security deposits.
Reduce Closing Times
Reduced closing times are another significant benefit of using an electronic signature for real estate. There’s no need to wait for paper documents to be physically delivered; all parties can sign off on a contract in minutes instead of days. This is a major selling point for buyers looking for a fast and efficient transaction.
New Agent Onboarding
If you’re a broker or managing agent, onboarding new agents is crucial to your business’s success. With an eSignature solution, you can send new agents all the necessary paperwork electronically and have them sign it before their first day on the job. This streamlines the onboarding process while ensuring all your new hires are up-to-date on company policy from day one.
Automate Contract Processes
Another case for using an electronic signature for real estate is automating the contract process. With an advanced eSignature solution, you can automatically send out secure agreements via email for signatures when certain predetermined criteria are met. You can also create and sign contracts well in advance, further streamlining your workflow and reducing the risk of error when managing a high volume of paperwork.
Signaturely for Real Estate
Signaturely is an effective eSignature solution that helps you streamline your real estate operations. It’s also a secure, easy-to-use platform that integrates with many other popular tools used in the real estate industry. Signaturely is also a great example of how tech and real estate can work together. (If you’re looking for further examples, check out these tools that combine tech, AI and real estate.)
Secure
The last thing you want is your client’s personal information to fall into the wrong hands. With Signaturely, you can rest assured knowing all your client’s data is protected. The platform uses the latest in security technology to help you safely store documents.
Easy to Use
Signaturely is incredibly user-friendly. Its drag-and-drop interface makes it easy to create digital signatures and send documents for signatures in just a few minutes. Plus, its mobile app means you can sign documents on the go without emailing contracts back and forth and without needing a scanner.
Integrations
Signaturely integrates with the tools you’re already using for typical real estate transactions, including:
- Google Docs
- Dropbox
- OneDrive
- Microsoft Office
You can keep using the tools you’re already comfortable with while benefiting from using eSignatures for real estate transactions.
Cost Efficient
Signaturely has a plan for your real estate business, no matter your budget. The platform offers a variety of pricing options to fit your needs, including a free plan for basic eSignature use. Plus, its plans are based on users per month, so you only pay for real estate brokers managing a real estate transaction.
What You Need to Remember About eSignatures for Real Estate
Real estate is a fast-paced, ever-changing industry. Using every tool is crucial to stay ahead of the competition. eSignatures offer several benefits that can help realtors close more deals in less time while maintaining security and compliance. If you’re not using an eSignature solution for your business, consider using one to enhance your workflow.
