Cincinnati, Ohio (PressExposure) April 27, 2011 -- Paperless real estate transactions were touted as the next big industry revolution earlier this year. Recently, Alabama real estate agents joined the growing movement across the country towards a completely paperless workflow when DotLoop began powering 13 new brokerages in April. DotLoop will enable Alabama real estate agents to close deals faster, increase transaction efficiency and customer satisfaction through their collaborative workspace.
The transition to paperless transactions in real estate has been long awaited by many industry professionals. Since Congress passed the Electronic Signatures in Global and National Commerce (ESIGN) Act in 2000, most industries -aside from real estate--utilize electronic signatures and document sharing as faster alternative to traditional commerce.
"It saves me and my clients two hours of our personal time per signature," said Jon Bowling of RE/MAX Preferred Group in Southern Ohio. "Depending how you look at it, it could mean the difference of getting a signature at 1 p.m. or 5 p.m. once my client gets off work."
While each industry may have different practices regarding ecommerce, many companies throughout the world experience success with electronic signatures and file sharing.
A 2010 study by Aberdeen Group reports, "Users of electronic signatures have been more successful than other companies in reducing these cycle times on a year-over-year basis, ostensibly because they create an easier, online experience for their prospects and customers to 'seal the deal' rather than relying on printed matter shipped by email, fax or courier to receive the final agreement as confirmed by the buyer's signature."
Throughout real estate technology, agents are leveraging different software programs to facilitate single functions in a transaction. However, agents must use multiple platforms that complete specific functions. Agents began using DotLoop to add, adjust and electronically sign pertinent real estate documents with one platform-- making it the first collaborative workspace in real estate.
Similar to DotLoop agents across the country, Alabama agents are taking advantage of the collaborative workspace at the right time.
A recent survey done by the Alabama Center for Real Estate at the University of Alabama shows growing confidence among the real estate community in the areas of sales, inventory and pricing for the spring season.
With increased confidence in the market, agents will need to meet the demands of their client base. An increasing number of new home buyers are heavy users of mobile devices; prompting them to employ agents using online platforms for closing deals.
Terronald Logan, REALTOR® with Keller Williams in Austin TX, said, "My clients love the convenience, and it's another cog in the machine of my business that allows me to give the type of client-focused service my clients have come to expect. You owe it to your clients and your business to go paperless with DotLoop."
The advantages of paperless real estate transactions are evident when considering the time savings. Clients appreciate agents using a platform with more flexibility, allowing for documents and signatures to be obtained at anytime from one platform-regardless of location or scheduling conflicts.
DotLoop continues to power agents and brokers across the country powering nearly 80 new offices in Michigan, Tennessee, Northern Ohio and New York through April.