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Tools for the Paperless Real Estate Business
September 4th, 2015 4:56 PM

Tools for the Paperless Real Estate Business

Digital real estate transactions have transformed the industry by introducing a meaningful level of transparency, and numerous workflow benefits. The advancements that technology has provided companies through a variety of internet platforms and mobile apps make the paper-filled office look gratuitous and inefficient.

If you are considering making the switch to a paperless business, here are 4 powerful apps that every agent should be equipped with.

  1. Dropbox

Dropbox is a file sharing and storage platform, which functions as a digital and cloud based file cabinet for your business. This platform provides a seamless experience across multiple platforms and networks. Example: if you save a lease or contract to your desktop, and use the Dropbox folder, it will be accessible through your tablet or mobile device or any computer you log into your Dropbox account with.  No more having to carry paper everywhere!

In reality there are number of file sharing and storage platforms that could be utilized here, but Dropbox has a good track record, and is extremely effective. It functions as a steady base for your paperless business, on top of which you can incorporate other apps and processes.

2. DocuSign

An integral part of the real estate process is signing and exchanging documents; remember fax machines?!  So it goes without saying that a paperless real estate business needs a tool to innovate the process of physically printing, signing, and storing / re-uploading a contract. This is exactly where DocuSign fits into your arsenal of paperless tools.   Example:  In the old world, your client just signed a printed purchase contract and now you or an assistance must fax this document to the listing agent.  With DocuSign, the contract signing occurs ‘online’ and near-instantaneous so you don’t have to hurry back to the office or a FedEx location to use the fax machine.

This application makes it possible for contracts to be signed anywhere, from any device. It completely eliminates paper from the process, and can actually secure the document more effectively.

3. PDF Expert

Any real estate business has spent a large amount of time creating, editing, handling and exchanging PDF documents. PDF expert is a tool that allows for all of this to be done digitally across multiple devices. Quickly sign a PDF right from your smartphone, or easily make a few edits to a PDF and send to your client.

4. dotloop

If you wanted to take all three of the previous apps, and combine them into a single tool built specifically for the real estate community, you’d get dotloop. dotloop functions as a collaborative space in which all parties involved, regardless of location, can work together digitally in real time. It houses all of the crucial tools needed in order to go paperless, such as online forms, transaction management solutions, electronic signatures, document storage, etc. Example:  A real estate broker wants to streamline and consolidate the process for all of their agents and they decide that dotloop is one the software solution to align everyone’s actions.

In summary, although the day to day experience of real estate is physical: standing on the ground, walking through a property, signing a printed contract, the proliferation of digital solutions to transform the real estate industry are impressive and cost-effective.  Expect to see many more solutions in the near future due to the massive investment by well-known real estate titans looking to corner digital real estate technology.  The only certain thing is change.

Posted by Michael Hobbs on September 4th, 2015 4:56 PMPost a Comment

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