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Electronic Signatures Yes Or No

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

 

 

You call this saving time?

 

Electronic signatures for listing agreements and Sales contracts are fast, save time, keeps an accurate account of the transaction. But is that the way you want to work? And should we be using them all the time?

 

Most of you are going to say a resounding, yes.

 

Of course, we need this technology. It is invaluable with out of town clients, or when the clients are traveling separately or speeding up a transaction. It's impossible not to in our electronic world.

 

But what's missing? What are we giving up?

We have become so busy that we do anything to save time talking and face to face communicating with our clients. Showing our properties and making appointments take too much time. Classes are teaching how to take a new listing in ten minutes.

Electronically we sign documents, set up showing appointments, use smartphones to retrieve the house key.  We use feedback forms to find out how an agent/buyer likes the property. We've even set these forms to answer on a numeric basis. Oh boy, we are saving so much "valuable" time. But what are we missing?

We complain that BIG technology companies are interfering and taking our business away. If the clients can get all this efficiency on line, why the heck do they need us?

 

A two-hour listing appointment, explaining an offer, making my appointments, being at and hearing about the home inspection process, and going over the final closing papers before the actual settlement.

It is not always about saving time. It is about educating the clients, building rapport, and preparing for the "what if's."

It allows bonding and empathy with clients going through the stress of moving. It's selling real estate.

 

We want, demand, and need fast, efficient electronic delivery in the wee hours of the morning. And we use this technology to save clerical time. I'm all for that.

 

What frightens me is hearing a client say, "But I Thought."

Would you like to be informed of each step of the process?

Are you thinking of selling your home?

Call Margaret Rome

 

 

Margaret Rome

 

Posted by

Margaret Rome
HomeRome Realty
Broker/Owner/Realtor®

Baltimore, Maryland


Sell Your Home With Margaret Rome

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Mike Cooper, Broker VA,WV
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Margaret, you are so right. I love the convenience of electronics and digital this and digital that, but I would never want to get to the place where client interaction is minimal. That's one of the things I love about this business. I like people. Well, most of them. 

Feb 22, 2020 12:37 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Mike Cooper, GRI Well said!  

Feb 22, 2020 01:32 PM
Francine Viola
Coldwell Banker Evergreen Olympic Realty, Olympia WA - Olympia, WA
REALTOR®, In Tune with your Real Estate Needs

It's funny - I'm the one that wants to meet and go over the contracts - my clients, not so much.  They are ready to sign or esign without taking one moment to read or ask questions about what they are signing.  That's the frustration I have.  I will follow my clients' wishes and then wait for the "but I thought" questions to come later (not really, I still do everything I can to educate them on what they are signing regardless if they want to hear it!).

Feb 22, 2020 07:47 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Francine Viola  Good comment.

Our clients trust us to do the right thing. They are ready to sign or click because of that trust.  

Feb 22, 2020 08:03 PM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

It took me 4 years of lobbying to go beyond electronic signatures and now Oklahoma has online notaries. I love this stuff and it makes my business soar and my time more useful.

Feb 23, 2020 07:32 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

I like the personal touch also ---  

Feb 23, 2020 01:39 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Joe Pryor So glad you were able to get the electric signatures and online notaries so your business could soar.

Feb 23, 2020 02:06 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Hannah Williams,

I know that about you and it makes you a very caring agent. Much continued success!

Feb 23, 2020 02:08 PM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

I found the comment by Joe Pryor super interesting! Oklahoma is ahead of the curve; in California notary signatures still need to be done in person, with a photo ID shown to the notary.

Electronic signatures save the day in fast-moving market places, or if I'm on vacation or out-of-town business seminars (happened twice last year alone) but they don't replace the face-to-face connections.

I attended a seller sign-off yesterday, as I generally do. Good face-to-face time, another set of eyes and ears even though I don't have an official role. Being at yesterday's sign-off saved one seller $50,000 - she was going to short-change herself!

Feb 25, 2020 08:06 AM
Michelle Vivero
1ST Choice Realty - Willard, MO
1ST Choice Realty

Face to face, telephone calls and personal attention is very important. In all reality, people are NOT reading all the paperwork that is thrown at them when signing purchase agreements or listing agreements. An agent's personal touch and communication is so important these days. Great post.

Feb 29, 2020 05:05 AM
Terry McCarley
Coastal Real Estate - Cape Coral FL - Cape Coral, FL
REALTOR, SRES, CDPE - Cape Coral, FL

Electronic signatures are very common here in Florida but this is a great post!  When at all possible meeting the buyers or sellers face to face is the way to go!

Feb 29, 2020 05:47 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Lottie Kendall I was sure I responded to your good comment but it must have gotten lost.

I would love to hear about your $50,000 save by being present. That huge!!!

Feb 29, 2020 06:07 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Michelle Vivero 

You are right that people don't always read what is thrown at them. We have the obligation to explain and answer questions about what they are signing.  (I once had an attorney say he did not read the contract and was not aware of some clause. That did not fly! 

Feb 29, 2020 06:12 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Terry McCarley Electronic signatures make our job easier as long as the right person is signing and they know what they are signing!

Feb 29, 2020 06:16 AM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hi Margaret Rome, Baltimore Maryland - the $50,000 had to do with a private agreement between sellers as to division of the sales proceeds. What one seller told the escrow officer didn't jive with what she had previously told me. We worked through the math, and her share went up by $50,000. 

Feb 29, 2020 08:14 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

That was great for your seller. Congratulations Lottie Kendall 

Feb 29, 2020 08:38 PM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

I agree!  So here's what I do:  I always go over the listing agreement with the seller in person. Of course, if it's an out of town seller-go over everything on the phone. With buyers, I spend at least an hour going over ALL the documents a contract requires BEFORE we seriously start looking at homes. I do love the convenience of electronic signatures--as often I'm sending docs for buyers later in the evening!

Mar 01, 2020 12:03 PM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Electronic signatures are one of the best inventions, as you know!  I remember the first such transaction with clients in Canada.  He was blown away with the technology and made me look like a hero at 7 pm, since they had young children.  He was elated not to leave his warm, comfy home at night in the winter months!  Enough said :) 

Mar 02, 2020 05:44 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Mary Hutchison, SRES, ABR Nothing beats the convenience and ease. My concern is who is doing the actual signing, especially with our elderly clients.

Mar 02, 2020 06:29 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Jan Green Great example of electronic signature when your client is in Canada.

Mar 02, 2020 06:30 PM