Evolution is a slow process in any industry and real estate’s technological evolution is no different. For many years while working as the IT Director as well as the technology support manager of the Real Estate business at Re/Max Alliance Group in Sarasota, FL, I worked toward creating an online system that would allow clients to able to sign and initial contact documents to avoid multiple reprinting, faxing, and the time delays associated with all the back and forth. Today, several large organizations have produced web based secure software that allows us to have documents electronically signed via email. Today, Re/Max Alliance Group uses such a software package.
I was in the computer world as a programmer before there were hard drives and ‘mice’ and know better than most that technology is a catalyst for change in most industries. The real estate industry, in particular, has undergone major changes over the past 10 or more years and shows no signs of slowing down. While the basics of selling real estate haven’t changed, the tools used to do it have. Because of these tools, you and I can access virtually anything, or anyone, from a smart phone or tablet. I can complete paperless transactions from wherever I am. Gone are the days of being tied to an office or desk. Gone are the traditional ways of buying and selling property involving a land line and a fax machine.
Using this technology, I am able to get all parts of a purchase contract negotiated between a seller in Sarasota, FL and a buyer in, for example, Bombay India in 1 day! Without this system, that would have required hundreds of dollars in FedEx fees and several days, to say nothing about consuming a sizable chunk of a tree!
If you are stuck in a time warp and are leery of doing transactions online, worry not! The idea of paperless real estate transaction technology is obviously not brand new. It has been in the industry for a decade following the Electronic Signatures in Global and National Commerce Act and the Uniform Electronic Transaction Act. Both acts were passed to ensure that paperless real estate transactions signed electronically were legally binding. I will go into this further in a future Blog.
In spite of all this technology, the real transaction happens because of the personal communication between you and your Realtor. If you have questions about using these services feel free to call me at 941-315-1185. And...if you are looking to buy or sell your home in Sarasota, FL, my hometown, definitely call me!