Digitization not only helps streamline the myriad processes real estate brokers are responsible for, it also eliminates tedium.
DocuSign’s Digital Transaction Management platform is a way for brokers to align both the management and movement of a real estate transaction—and given the slew of documents attached to a single deal, it’s no small feat. Not only is keeping track of multitudinous documents, not to mention who signed them and when, it escalates the likelihood of errors to occur.
“Over the course of a real estate transaction, a lot of documents have to be signed by a lot of different parties, and then the broker of record has to keep track of them—not to mention tracking when they were sent out, how they were sent out, and then whether or not they’ve been completed,” said Christine Sugimoto, senior product marketing manager at DocuSign. “Ensuring all documents are read and signed by buyers and sellers is what Transaction Management is geared towards. It makes sure they’re seamlessly completed, and compliant, and that they are filed in a timely manner.”
Digital Transaction Management, or DTM as its known in the industry, also provides brokers of record visibility throughout the entire process, serving as yet another link in the chain that ensures transactions progress smoothly.
“For the broker of record, it’s set up around visibility and compliance so that they know their agents are following the office’s process and ensuring documents are completed accurately, and in a timely fashion,” said Sugimoto. “Brokerages want to know their agents are working efficiency so they can grow their business without overburdening administrative staff.”
Using bank-grade security, DocuSign ensures that your client’s personal information is protected. It also saves on hard costs. In the United States, DocuSign determined users saved an average of $36 per document from the printing, mailing, and paying for long term storage of those documents.
In addition to benefits for brokers and their brokerages, Digital Transaction Management enhances the client experience. A real estate transaction can be unnecessarily drawn out due to conflicting schedules or involve numerous inconvenient meeting, but DTM eliminates those facets of the transaction.
“For the agent, it’s about delivering a better client experience to the buyer or seller. Many clients have day jobs of their own, travel or are busy with their families. Having to set up time to meet with their agent or broker at odd hours of the day or while they are at work to sign a document is hardly convenient,” said Sugimoto.
“With Digital Transaction Management, agents don’t have to drive around in the middle of the night or have to interrupt a client’s evening just to get a document signed. They won’t have to worry about a missing signature the way they used to.”
Download this white paper to find out how to save your brokerage time and money, while delivering exceptional client experience.