Are the tools and processes you use in your real estate business giving you the maximum return on your investment? If you're still battling through mountains of paperwork, there may be room for improvement.

Examining the Hard Costs of Paper

Depending on what state you live in, a single real estate transaction can require signatures on anywhere from 10 to 100 documents. The cost of all this paperwork makes a significant impact on your bottom line. Let's take a quick look at where these expenses lie:

• Printing - On a standard office printer, a single black-and-white page costs $0.03. With color, the cost jumps to $0.08.
• Delivery - The cost of postage and courier fees adds up quick. For documents that can be signed locally, factor in the time and expense of travel, as well as the hassle of coordinating meeting times that are convenient for all parties.
• Storage - Storing and managing paper documents costs over 50 times as much as electronic records, thanks to necessities like filing cabinets, boxes, folders, and more. Not only will you need more space as time goes on, but there are special considerations that paper archives need, like temperature, humidity, and fireproofing.
• Document loss and reproduction - Whether lost in transit or just lost in the shuffle, paper documents are always at risk of going missing. When this happens, you re-incur the costs of printing these documents again.