The “Paper-less” Transaction ?!?!

I love paper! I have it everywhere. I have tons of cutesy little notebooks, adorable stationary, and dont even get me started on post-it notes. At times, I have lost my computer to the massive post-it note insurgence. Printing – I print everything. I have massive manilla folders, 3 ring notebooks, drawers and cabinets full of paper. Oh the trees that have suffered a terrible fate at my hands. However, I considered myself up to date with the technology of the times. I mean c’mon, for somethings, you still need paper. Gotta have something to feel or touch – make it real. But then, I realized what a contradiction I am.
I am a virtual assistant. Clients all over trust us to deal with their day to day business, and they may never lay eyes on us! Imagine my amazement when I learned that you could have a complete closing with NO PAPER.

Previously, I worked in a real estate office for about 4 years as a marketing coordinator. Only then did I see my love of paper made to look miniscule in comparison. A whole room full of file cabinets. Storage attics that held up to 7 years of files. When I think about it, the whole office revolved around papers. How many calls have I made to agents for missing addendums or ammendments? A closing could be stalled, or at worst fall through because of the lack of one sheet of paper. You call the agent, they call the other agent, everyone is questioned as to who last saw the paper. The real estate office then turns into an episode of CSI with no one trusting anyone else. I swear, I have seen the broker to the point of breaking out the fingerprint kit. Our pending files were kept under lock that only the administrative personnel had access to. At night the key was relocated to a secret location. That is when I discovered, the DANGER of paper.

Okay, that was a really dramatic and comedic approach to the subject. But it is true. Real Estate revolves around paper. Imagine my surprise when I was introduced to the paperless transaction! The entire process from listing to closing can be processed online. No more lost paper drama! Lost the original – pull it up online. An assistant in California can effectively manage transactions for an agent in Georgia, and never loose a moment of time. Then after closing, a disk with all the important documents can be burned to a cd, with a cute little picture of the house on the label and presented to the buyer. A cd! No huge file of papers that you drop halfway out of the lawyers office, or hits the floor of the car when you slam on the breaks.

Transaction management programs such as Relay and Settlement Room provide the platform for buyers, sellers and their agents to seamlessly manage every single aspect of a real estate transaction. If a buyer wants to know what is going on, all they have to do is log in, and take a look. If an agent wants to see what is left to be done – all they have to do is check the action plan in their transaction management program. It is truly amazing, and it makes the life of everyone so much easier. I can think of so many times that I have had to pour through files the size of War and Peace to find a one page addendum. This elimantes that problem. I am still amazed!

Technology is truly awesome. There is just no telling where we will be in 10 years. I am all for this new wave in real estate management. But – I am sorry- I am going to have to keep my post-it notes.