When looking at making the transition to paperless, it is important to do your due diligence. There are a lot of apps out there to help you go paperless – calendar, email, cloud storage, etc. However just adopting these apps will not make you truly paperless because the most paper intensive task – the deal itself – has yet to be addressed. It is for this reason we will focus on helping you choose the right paperless transaction tool needed to complete real estate agreements. Some questions you should address during your search:
1. How easy is it to use?
When moving from pen & paper to digital offers, the transition just has to be easy. Complicated setup processes and long learning curves is something you should stay clear from. This point becomes very valid when you have your clients or co-operating agents working from the same transaction tool to complete the deal. Best way to determine this is by taking a quick tour of the product’s free trial.
2. Does it include change tracking?
Change tracking will notify you who did what changes in the agreement. Change tracking is a needed feature especially if your paperless transaction tool aims to eliminate messy penned amendments and initials.
3. How easily can I involve collaborative parties?
Given the collaborative nature of deals, your transaction tool should allow other parties (clients, co-operating agents, etc) to collaborate without the need to pay or install the same tool on their devices. Having this feature ensures the deal stays digital and is not reverted back to paper in case the other party does not use the same transaction platform as you.
4. Can I use it on any device?
As real estate agents, traveling is an essential part of the job. Making sure you can work on your deals from any mobile device is a must have feature. Without this mobile ability, you significantly hinder the benefits of going digital.
5. How secure is it?
Given that digital real estate offers contain confidential information, your transaction tool needs to have ample security. Things to look at include data recovery strategy, ability to produce audit reports, e-signature analysis and smart alerts for incomplete steps or signatures.
6. Can I realize a return on my investment?
Your paperless transaction tool should allow you to realize cost & time savings on these basic items: money spent on paper & ink, time spent on completing deals and travelling. Savings on these items will allow you to allocate your time on what matters most: lead generation, work/life balance, etc.