By WWLT
Over the last decade, technology has completely changed the way we conduct real estate transactions. E-closings and digital signatures are two innovations that have made the closing process simpler and more secure, not just for buyers and sellers, but for the real estate agents who facilitate these transactions as well.
If you are a real estate agent who has yet to upgrade your process, the team at World Wide Land Transfer encourages you to embrace these technological advantages to save yourself time, make things easier for buyers and sellers, and do more to protect your clients from cybersecurity threats. We can provide commercial real estate title insurance in Philadelphia, PA.
It wasn’t that long ago that all parties needed to be present at a closing. Buyers and sellers would usually have to meet in person to sign documents, or make use of inconvenient technology like fax machines. Today, digital technology has made signing documents a breeze and has eliminated the need for all parties to meet at a physical location during closings.
Say you need to get a client’s signature on an amended closing agreement the day before closing. In the old days, it would require an in-person meeting or a fax machine. Now, it can be as simple as sending an email with a link to your e-signature portal. A process that used to take hours or even days can now be completed in just minutes at your client’s convenience. You can even complete a closing with clients located anywhere in the world so you don’t have to fit in a meeting that works with everyone’s schedule. This is especially convenient when you are dealing with clients who are moving from another state or another country.
With real estate fraud on the rise, real estate agents everywhere are searching for ways to keep their clients’ information secure and ensure documents can’t be altered post-signature. E-signed documents are encrypted, and they utilize advanced security measures to ensure that signatures match on all documents, reducing the risk of fraud.
For example, seller impersonation fraud is one of the most common real estate scams today. Scammers will usually find a vacant or abandoned property and forge documents to falsely establish their ownership of it. Next, they will try to sell that property, often at a low price to attract potential buyers quickly. While you as a real estate agent might have difficulty verifying the validity of deeds and other documents on your own, an e-signature platform can compare signatures on all documents to ensure they are consistent.
You can also work with a full-service title insurance company to conduct a title search that will compare recent signatures to older documents. If there are any issues, you may be able to stop seller impersonation fraud in its tracks. Many e-signature platforms also offer document tracking features that allow you to conduct audits at every step of the signing process, showing exactly who accessed documents and when, and what changes they made. In addition, storing documents digitally virtually eliminates the risk of crucial documents being lost or stolen, and storing them in the cloud makes them accessible to you and your clients at any time and at any location.
In the 21st century, staying ahead of technological advances will help you do business more efficiently and securely. The team at World Wide Land Transfer can help. We offer a range of closing services for real estate agents and we can help you get up to speed on current e-closing and digital signature options to save you time and effort.
E-closings and digital signatures also allow real estate agents to streamline their overall workflow. Rather than juggling paper documents and manually tracking which clients have signed what, agents can manage everything from a centralized digital platform. Automated reminders can prompt clients to complete their paperwork on time, reducing delays and keeping transactions on schedule. This improved communication flow helps keep everyone informed and ensures that agents can stay focused on guiding clients through the process instead of chasing signatures or coordinating meetings. This will improve the journey for real estate title insurance.
In a fast-moving real estate market, the ability to act quickly can make or break a deal. E-closing tools give agents a competitive edge by enabling faster execution of contracts and quicker turnaround on required documents. This agility not only improves the client experience but also boosts your reputation as a reliable, tech-savvy agent. As more buyers and sellers expect digital options, embracing e-closings can set you apart from competitors and position you as a forward-thinking professional who puts client convenience and security first.
World Wide Land Transfer is a service-oriented PA title company with offices in Philadelphia, New York, and Washington, D.C. With a record of going above and beyond, we are trusted to close everything from complex commercial transactions to residential refinance and purchase transactions.
