May 23 2011
For REALTORS®, homebuyers, and sellers, signing "the docs" is an emotionally-charged time. Often, all parties feel anxious; there are dreams, plans, and a lot of money on the line! Tired of the sleepless nights and frantic phone calls, REALTORS® are exploring strategies to reduce the anxiety of document signings.
Anxiety isn't the only problem associated with the creation, exchange, and signing of real estate documents.
Austin Allison, CEO of DotLoop, explains that "consumers are used to electronic transactions. They're buying books on Amazon and paying bills online. They're expecting that same streamlined experience when they're buying a house and, historically, they haven't been getting it."
On the other hand, consumers may feel nervous about the security of paperless transactions. They may raise concerns about electronic signatures and the safety of their sensitive personal data. While it's important for clients to feel validated, new options for electronic transactions reduce these risks. By educating clients about this technology, REALTORS® can assuage their fears.
DotLoop is one company that has set out to solve the problem of "Versionitus." Mr. Allison explains, "To call DotLoop a transaction management system or eSign solution isn't accurate. Instead, it is a collaborative workspace that incorporates transaction management, document sharing, and electronic signatures, avoiding the disjointed experience that some people can have when they're using multiple technologies." This disjointed experience can lead to confusion and anxiety, he explains.
With DotLoop, both buyer and seller are working from a document called Version-NOW. This shared document lives online and is updated each time an offer is exchanged or a counteroffer is created. Each party has real-time access to the Version-NOW document. This allows for communication, collaboration and transparency, helping all parties to feel more comfortable. It also allows the process to move more quickly.
What about the human element? Here are a few ways REALTORS® can help clients feel less stressed:
That's the client. What about you? What can you do to reduce your own stress level? After all, you're balancing a lot of responsibilities. One of the best things you can do is indulge in some positive self-talk. You're smart; you're capable; and you should darn well remember it! Then there's the advice that works for anyone, REALTORS® not excluded: be diligent about getting enough sleep, exercise, and healthy food. Find tools that help you stay organized and feel in control of the process.
Let's get a discussion going about how we've managed our own stress and client stress. Do you have any products or strategies that have worked for you?