Real Estate

Pulse: Readers Share The Most Painful Part Of The Digital Transaction

From online showings to all-digital signings and closings, the digital transaction has fully come into its own. All month, Inman examines the companies and technologies driving this new world of digital transaction.

Pulse is a recurring column where we ask for readers’ takes on varying topics in a weekly survey and report back with our findings.

As we pointed out last week, we’re living in an increasingly digital world, and the way we communicate and work has changed drastically over the last year or so. This is especially true in real estate, which saw a slew of workhorse software and services emerge to help digitize and streamline every step of the transaction — from lead to close.

However, as we also mentioned last week, there are still issues that need to be addressed and solved. So, what are some of the most important pain points for industry professionals? From the lack of personal connection to more efficient integration, here’s what still needs attention today:

  • Explaining it to clients.
  • Not being able to edit the document once it is uploaded to DocuSign.
  • The lack of personal connection.
  • Nothing. Digital transactions have, in my opinion, made a Realtor’s life way easier. When I started 14 years ago, we were still faxing, and now, I have not faxed a document in a couple of years.
  • Using a service that is mobile-friendly and gives my clients a portal.
  • Placing each person’s signatures, initials and dates in the place for them to sign.
  • As a long-time user of digital transaction tools (DocuSign, ZipForms Plus and even DotLoop) in the highly competitive markets of metro-Boston, I find these tools essential to compete. The ability to quickly create a robust and easy-to-read one-PDF document is key to success. Also, the ability to sign a document anywhere, any time and on virtually any smart device is an incredible time-saver. This all makes revisions easy and quick too. This was helpful before the pandemic, and critical now. Furthermore, the fact that my back-office transaction work is all digital and secure helps to move things along more accurately and quickly for my office/broker. Speaking for DocuSign and LoneWolf (now owner of ZipLogic’s ZipFormsPlus), they have continuously improved on the product with features, automations and integrations. They have even “upped” their games with training so that I can keep up on all of the great new features that help me do my work digitally. I’m happy to compete against those who have not embraced the digital transaction, because it’s my clients who always benefit.
  • Banking fees.
  • Getting pitched by Realtors.
  • An efficient save integration of IDX to CRM to digital signature all in one box solution, no replication of input. I simply need to be efficient, put it in once, capture from the feed, upload all the tax data, track and market — nirvana for me and increasingly secure.
  • As a recent seller and buyer, the closing process was the most painful point, by far. Though it was far from digital.

What did we miss? Please share your thoughts in the comments section below.

Editor’s note: These responses were given anonymously and, therefore, are not attributed to anyone specifically. Responses were also edited for grammar and clarity. Inman doesn’t endorse any specific method and regulations may vary from state to state.

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