so much more to closing a real estate deal than hearing the words “we’ll take
it.” When conducting commercial or residential real estate transactions, the
process can be long, complicated, and disorganized when a professional does not
have the right tools in place. Apart from the initial purchase agreement,
buyers often need to negotiate lending processes, obtain insurance, or even
plan out construction needs on properties. With so many parties and deadlines
involved in the process, it can be difficult to keep things moving at a healthy
DocuSign’s Digital Transaction Management platform has powerful solutions to
meet the needs of buyers and a wide variety of companies who help close real
estate transactions. Check out the following types of professionals involved in
the real estate process that can benefit from DocuSign technology:
DocuSign for REALTORS
buyers, making an offer is a late-stage step in the process of purchasing the
perfect property, but for the real estate agent, it is only the beginning.
Managing the paperwork required to close escrow and eventually transfer the
deed of a property to a buyer mandates top-notch time management skills and
attention to detail. These skills can be difficult to delegate during a hectic
process in which an agent is likely overseeing the sale of multiple properties simultaneously.
is the National Association of REALTORS’ exclusive and official eSignature
services provider for good reason. The platform allows real estate agents to
send and sign legally-binding documents from anywhere on any device, thus introducing
a flexibility to the process that cuts down the hours or even days that it can
take to obtain handwritten signatures.
DocuSign for REALTORS, agents can create reusable templates for frequently used
documents, add additional business fields for signers not included with the
standard personal DocuSign package, and set sequences for workflow that allow
documents to be sent in a specified order. As a bonus, buyers will be pleased
with the ability to sign papers from their own computer or mobile device rather
than having to travel to an office simply to give a handwritten signature.
DocuSign for Brokers
brokers, this same flexibility and speed allow professionals to monitor and
easily manage the work of all agents within a real estate firm through an
industry-specific dashboard. The dashboard displays the status of all current
transactions in real time and monitors progress over customizable timelines. Brokers
can also separate the data by region or office for brokerages with multiple
locations, and performance-ranking reports can show individual agent successes over
clients who purchase either DocuSign for REALTORS or DocuSign for Brokers have
the ability to use one of platform’s most exclusive features—Transaction Rooms.
Transaction Rooms allow multiple parties with different roles in the process of
closing a real estate deal to coordinate on documents and complete the process
more efficiently. Transaction Room users are able to leave comments on, review,
and sign documents in full view of all room members. The document sender can
monitor document completion progress and adjust privacy levels for each Room
user in order to comply with security standards.
benefits that exclusively accompany the DocuSign for Brokers package include
the ability to assign task lists within Transaction Rooms in order to guide workflow
between involved parties. Users can also designate permissions for the
modification of name and e-mail address fields for subsequent recipients. Additionally,
Transaction Room users can obtain audit trails for secured transactions within
DocuSign for Lenders
cannot close on a real estate property without proper funding in place, which
requires lenders to collaborate with brokers and agents in order to complete
the property transaction. Like firms and individuals that work directly in the
real estate field, lenders can make the process of property purchase more
streamlined by using DocuSign software.
enterprises, including Freddie Mac, Fannie Mae, and the FHA, all recognize
electronic signatures as legally binding on contracts and agreements generated
by lenders. In addition, the security standards followed by the DocuSign
Digital Transaction Management platform allow lenders to offer clients high
standards of protection for personal data. With fewer hardcopy documents
changing hands, sensitive data, like personal financial information, is less
likely to be lost, while DocuSign’s standards also help prevent sensitive data
from becoming exposed to prying eyes. In addition, users can edit documents via
computer and resend them immediately afterward, thus reducing turnaround time
in the event that a contract displays incorrect information.
paperwork is instantly accessible for clients on any computer or mobile device,
and the ability to sign with the click of a button can help lending firms meet
industry-specific legal requirements. The three-day rule, for example, requires
lending institutions to give clients the ability to review and ask questions
about their mortgage loans at least 72 hours prior to the close of a property
sale. DocuSign makes it easy to deliver this Closing Disclosure within the
legal parameters, thereby helping lending firms adhere to government standards.