Digital Signatures Will Help To Make Real Estate Transactions Quicker And Smoother, And Reduce Fraudulent Activities.

06 Nov

An Esign solution for real estate is the industry-specific type of popular technology that has taken the market by the storm merely in a few years.

We are talking about signature solutions and the real estate sector, like every other sector of the economy (including eSignature Solution for Government Agencies and NGO) is averaging the benefits of this advanced technology. Real estate sectors have surely understood the impact and effectiveness of digital signatures on their operational areas.

Right from creating and signing sales contracts, hiring employees and workers, digital signatures are useful everywhere to run things transparently.

Real estate businesses need esignature solutions that are technically robust, provide security and privacy, and bring easy to the business. Real estate is a complicated business to operate, the workers toiling hard on the field, engineers taking efforts in the office, suppliers who need to provide quality material, architects who have to think of the cost and yet make the structure beautiful to live in and ultimately the customer who trust in your business completely while making one of the most important investments if their lives. All this has to be performed with high transparency, quality, professional and cost-effectiveness in order to gain reliability and sustain the market. An effective real estate esignature solution will allow every stakeholder of the real estate to perform their duties smoothly without any unnecessary delays

The secured environment of esignature solutions makes sure that each process is performed with utmost safety, saving business and each of its stakeholders from fraudulent acts and data breach.

What Do E-Signatures Mean?

Electronic signatures are made using an electronic signature system which creates an online or digital version of the signatures. It means you can use a stylus or finger to make a signature on the electronic document through a digital signature platform or can perform any online activity that can be considered as a signature as per the law of the land.

You can also scan your physical signatures and then copy the scanned image on the electronic document. You can do this only if you have a right to edit the document. You can also (as said above) use the screen of your device and make a signature with a stylus or fingers directly on the document. This is easier and quicker.

In digital signatures when the concerned party signs the document, he/she gets connected to the document via digital signatures. This is done through cryptography making sure that no other party (except the signer) can access the signature. Additionally, only the recipient of the document can access the signature, without editing or tampering with the document and its content. This ensures the recipient of the safety of the document and the reliability of the content. Digital signatures are made using blockchain methods and hence can only be used once for each transaction. Which means, nobody can misuse your signatures anytime in the present or the future. If we consider this in line with the real estate sector, we can understand the degree of security businesses and customers can feel. This and many other features of Esign solution for real estate make it one of the must-have solutions.

Businesses in the real estate sector can use Esign solutions for real estate to perform many functions however, the business must know the following factors before selecting any vendor or product.

  1. The Legalities

When you are trying to enforce any contract or document in front of the court. The court tends to confirm whether all the parties involved in the document actually intend to get bound in the contract and agree to the content mentioned in the contract. E Signatures are very much reliable and clear in such matters as such signatures can only be used by one single person who has sent the document and one single person has received it. Each party has a unique digital ID or keys which helps to identify and validate each party separately. Which means everyone is a proof or a digital fingerprint that can be traced back to the singer.

This system also brings security to the transaction and saves both the signer and the sender of the document from any frauds or wrong claims.

  1. The Audits

Every digital signature leaves a trail whenever it is used to sign any online document via reliable esignature solutions. Which means one can easily trace the signer of the document and the person who has created and sent the document. If you are a real estate company then you can use this feature efficiently to keep track of all the contracts, sales and making sure that they get completed in the given time in a legal way. In case you wish to audit the trail you can understand each and every stage of the contract by following the signatures. This feature adds to the transparency and brings in a sense of trust in the process. While the market is filled with fraudulent real estate businesses, you can use this system to create goodwill in the market.

  1. The Contracts For Sale

The sales department is one of the crucial departments of your business that most probably makes the maximum use of digital signatures as this department deals with customers directly and has to create and sign many documents. Before the invention of electronic signatures, handwritten signatures on the physical document was the only way to complete the transaction. While the whole world is getting digital, departments can no longer use traditional methods of documentation. ESignature solutions not only add security to the process but also help in closing deals faster.

  1. The Insurance Agreements

If you're buying a real estate property then it means you are also buying insurance for it. Insurance protects property from suffering any losses in case of any mishappenings. This is like a protection cover that you buy for your wallet, you have a setting to fall back on. Usually, real estate businesses are in partnership with known and reliable insurance providers which cover your property when you buy it. Such agreements can be completed digitally.

Read the blog- How to select an eSignature Solution for Your Insurance Agency

Apart from the above areas, real estate companies can use Esign solutions for real estate to hire employees and other workers. These signatures play an effective role in the HR department of any business organization.

Let us explore how your real-estate business can get benefited from electronic signatures.
 

Speedier Closing Of The Deals

Which real-estate company does not want to sell as many properties as possible? Every organization is always in a rush of earning more profit and widening the customer base. For this, they make use of effective technological solutions.

One such solution is an esignature solution. Deploying an electronic signature solution can improve the way you close the deal. Right from producing, managing and transmitting the legal documentation, everything can be done with the utmost transparency accuracy and speed using digital signatures. The solution provides many features which save your efforts and you do not have to do the repetitive tasks.

Ease Of Use

A few years ago selling a house or a property of the complicated procedure. The company had to take care of many complicated, crucial documents and get time signed from the customers in person. All these other based documents needed to be stored and sent safely to the concerns department within and outside of the organization to complete the procedure. This used to take too much time. Considering the present fast-paced world and customer demands, you certainly cannot keep your customers waiting just for a small task of signing the document. Esign solution for real estate saves time and one can make signatures irrespective of the location or geography which makes things even smoother.

The system is also secure to ensure all the stakeholders if the business and the property of their safety and validity of the transaction.

Stay Mobile

Digital Signature for Government Agencies and real estate signatures must allow public/customers to perform their duties from anywhere using their mobile device. Not everyone can wait in long queues in front of the government office or sales department by compromising their other responsibilities.

Apart from the above-mentioned benefits, esignstute solutions help in gaining customers' confidence and save the cost of doing business. This means you not only get people's trust but also save money. In the competitive market, one must avail every solution that can save the business some money.

There are many organizations offering the same products/services as you are. What makes you different is your customer care service and after-sale services. To ensure the sustainability of the business and its goodwill you can rely on a professional digital signature solution.

Conclusion

Real estate sector can benefit a lot from using a real estate esignature. Safe proves, faster completion of the deal, customer convenience and saving their time, legal backing and validity of the law of the land, and most of all long term cost reflectivity are a few of the benefits you can expect from an electronic signature system. Being a real estate company you have to deal with crucial financial and personal data which demands a secured storage environment that digital signature solutions offer.