How Can Digital Real Estate Closings Help Your Business Grow?
By: Jordan Lulich, Esquire at Lulich Attorneys & Consultants and Member of The Fund
Don’t judge a book by its cover. While for many, digital real estate closings seem like a daunting service to offer, I’m here to tell you that it’s quite simpler than you think.
Let’s face it: In-person real estate closings are enjoyable. However, what if I told you that a digital real estate closing can be as enjoyable, and that they cater to people of all ages.
My first experience closing a digital real estate closing was with a 75-year-old woman. The thought of having a senior citizen be the first client who I closed a digital closing with might raise some eyebrows; however, even to my surprise, we had a smooth, enjoyable, less stressful closing.
As I watched my client complete the closing, I knew it was just a matter of time before this would be widespread in Florida. Why even propose the hassle of a mail away closing or contemplate having your clients change travel plans for closing? Technology and Florida Laws offers a much more simplistic solution.
What is a Digital Real Estate Closing?
The digital closing starts with the clients clicking a link from an email from the online notarization company. As the real estate agent, there’s room in this “virtual closing room” for you as well so it’s important to let your title agent know that you would like to be present for the closing.
Upon entering the virtual closing room, videos of each of the participants appear. This will include the client and online notary, and may also include the title agent, real estate agent, and/or lender.
Everyone can see each other, talk with each other, and see what documents are being signed. The same jokes, fellowship, and bonding time can all take place, but from the screen of your computer. The online notary guides the client from beginning to end and provides instruction on how to electronically initial and sign the documents.
While there is a possibility for technology problems, the online notaries are trained to troubleshoot with the clients. The third closing I conducted was with an 83-year old man selling his home in South Florida. Rather than drive hours to my office, he was able to close the entire transaction right from his living room.
In this day and age, it’s critical to stand out as a Realtor®. In my local Facebook groups, when someone asks for a recommendation for a real estate agent, each time, without hesitation, over 200 recommendations are given. That’s why having a resource of conducting a Digital Real Estate Closing can help distinguish you as a Realtor®.
There’s nothing better than offering convenience, comfort, and less stress to your clients in whatever industry you are in. Clients are enjoying a simpler process by working from their couch whether if it’s they apply for a loan, purchase a car, or by using digital real estate closings. Digital closings offer consumers the opportunity to log into the internet around the world and complete their closing right from their home.