In todays highly technological world there is a vast amount of tools available for businesses to really help them operate much more efficiently than ever before.
There are many tools that can very effectively aid in the growth of your business while freeing up more of your precious time to devote to the tasks of the most importance.
As a real estate investor, what is more important than getting signed contracts on great deals? Is this not one of the most important tasks as an investor, if not the most important task? Ok, maybe closing the deal is the most important but obtaining a signed contract is at the top of the list as well.
Obtaining signed contracts can be a time consuming process when you are not able to have it signed by the seller in person. That is unless you have a great system in place.
Think about it for a minute. Most investors will start by printing out a purchase agreement. Next they will fill in the blanks for the terms of the contract. The next step is to fax or scan and email it to the seller.
While those steps are not too terribly time consuming you must also factor in costs of ink and paper for every contract as well. I know many of you are saying to yourself right now “the cost of the ink & paper is peanuts!” You are right. The costs are very minimal, but what if it didn’t cost you anything? I will come back to this a little later.
The purchase agreement has been sent to the seller. Now what? Now it is a waiting game. You must wait while the seller figures out how to sign this agreement and send it back to you. If you are lucky you will receive it the same day as you sent it. More often then not though, it will be a day or so, if you receive it back at all.
We must remember that not all sellers are tech savvy with computers, scanners, faxes, etc. With some sellers you may have to email the agreement to a local print shop because the seller does not have access to those electronic devices or may not know how to operate them.
For those sellers that are technologically challenged, just the thought of having to use a device such as a scanner, printer or fax, can make them very irritated.
The more difficult the process is to sign and return the longer it takes for the seller to get around to it. This gives the seller more time to think over the offer and second-guess their decision.
This also creates more time for a competitor to come in and steal the deal with a higher offer or for an agent to convince them they can obtain much more by listing it on the market.
The million dollar question is “How can we simplify this process and make it much more efficient at the same time?”
The answer is….. use an Electronic Signature Software. Let me explain.
There are many companies today that have created computer software that allows documents to be signed digitally. By using this type of software, you can eliminate the process of printing out documents and hand signing your signature. It is all done directly from the computer.
This Electronic Signature Software technology has actually been around for quite some time. Companies such as Docusign have really perfected this process. Docusign is one of the leading software’s out there that offers electronic signatures and the one that I use in my business.
There are other options available that you can compare and contrast to Docusign. Here are a few:
CoSign by Arx
Moving forward I will be telling of the highlights that Docusign provides as that is the one software that I have experience working with.
Why should you use Docusign or similar software?
Send, sign and approve documents all from a computer or mobile device.
Makes workflow or approval simple, secure and fully digital
No more wasting paper or ink printing out purchase agreements for sellers
Simplifies the offer signing process for sellers. It only takes a few clicks for the offer to be signed and returned to you via email.
You can sign and send documents on the go. You don’t have to be in the office.
By using a software such as Docusign, sellers can now forget about trying to figure out how to use a scanner, printer or fax, or having to find one. It really eliminates all of the issues that can happen with those electronic devices.
As long as a seller has an email address, all they need to do is open the agreement and with only a few clicks of the mouse their signature will be applied to the agreement. You will receive an email back with the fully executed purchase agreement shortly after.
Think about how much time and headache this can save you and the sellers. Think about all of the paper and ink you will save by not having to print out every single purchase agreement.
By eliminating all of the extra steps for sellers to do to sign and return the agreement you will also reduce the amount of deals that fall through due to a seller changing their mind or going with a competitor.
I truly hope by now that you can see how beneficial a electronic signature software can be to your real estate investing business.
I suggest you look into a few companies to compare their software. While Docusign is the one that I use there may be one more suited to your needs.
Start to make your business more efficient today by implementing the digital signature process.
I hope that this post was very helpful to you. If it was, please share with someone who you think may benefit from it.
Here’s to your success!!!
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